BDCZ vs. KWT
Compare and contrast key facts about ETRACS MVIS Business Development Companies Index ETN (BDCZ) and iShares MSCI Kuwait ETF (KWT).
BDCZ and KWT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BDCZ is a passively managed fund by UBS that tracks the performance of the BDCZ-US - MVIS US Business Development Companies Index. It was launched on Oct 8, 2015. KWT is a passively managed fund by iShares that tracks the performance of the MSCI All Kuwait Select Size Liquidity Capped Index. It was launched on Sep 1, 2020. Both BDCZ and KWT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BDCZ vs. KWT - Performance Comparison
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BDCZ vs. KWT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -8.73% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | 19.41% |
KWT iShares MSCI Kuwait ETF | -5.58% | 25.38% | 11.29% | -4.71% | 5.16% | 30.73% | 9.07% |
Returns By Period
In the year-to-date period, BDCZ achieves a -8.73% return, which is significantly lower than KWT's -5.58% return.
BDCZ
- 1D
- 2.11%
- 1M
- 1.43%
- YTD
- -8.73%
- 6M
- -7.68%
- 1Y
- -13.06%
- 3Y*
- 5.89%
- 5Y*
- 4.84%
- 10Y*
- 6.43%
KWT
- 1D
- 1.57%
- 1M
- -4.87%
- YTD
- -5.58%
- 6M
- -5.74%
- 1Y
- 6.96%
- 3Y*
- 8.85%
- 5Y*
- 10.06%
- 10Y*
- —
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BDCZ vs. KWT - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is higher than KWT's 0.74% expense ratio.
Return for Risk
BDCZ vs. KWT — Risk / Return Rank
BDCZ
KWT
BDCZ vs. KWT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and iShares MSCI Kuwait ETF (KWT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BDCZ | KWT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.58 | 0.47 | -1.05 |
Sortino ratioReturn per unit of downside risk | -0.68 | 0.75 | -1.42 |
Omega ratioGain probability vs. loss probability | 0.91 | 1.11 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | -0.67 | 0.63 | -1.30 |
Martin ratioReturn relative to average drawdown | -1.38 | 1.69 | -3.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BDCZ | KWT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.58 | 0.47 | -1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.74 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.86 | -0.59 |
Correlation
The correlation between BDCZ and KWT is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BDCZ vs. KWT - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 11.88%, more than KWT's 5.72% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 11.88% | 10.65% | 9.26% | 9.13% | 9.39% | 7.49% | 10.01% | 8.40% | 9.66% | 8.74% | 7.98% |
KWT iShares MSCI Kuwait ETF | 5.72% | 5.40% | 6.09% | 2.25% | 5.87% | 7.65% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
BDCZ vs. KWT - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than KWT's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for BDCZ and KWT.
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Drawdown Indicators
| BDCZ | KWT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -24.37% | -31.26% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -11.54% | -8.41% |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | -24.37% | +1.25% |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -17.94% | -10.14% | -7.80% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -7.36% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.71% | 4.29% | +5.42% |
Volatility
BDCZ vs. KWT - Volatility Comparison
ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 5.99% compared to iShares MSCI Kuwait ETF (KWT) at 4.32%. This indicates that BDCZ's price experiences larger fluctuations and is considered to be riskier than KWT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCZ | KWT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 4.32% | +1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 16.22% | 11.09% | +5.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.66% | 14.87% | +7.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.43% | 13.61% | +3.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 13.99% | +7.57% |