BDCZ vs. LVHI
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and LVHI (Franklin International Low Volatility High Dividend Index ETF) are both exchange-traded funds - BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index, while LVHI is a Volatility Hedged Equity fund tracking the Franklin International Low Volatility High Dividend Hedged Index-NR. Both are passively managed. Over the past 5 years, BDCZ returned 3.26%/yr vs 16.01%/yr for LVHI. At a 0.41 correlation, their price movements are largely independent. BDCZ charges 0.85%/yr vs 0.40%/yr for LVHI.
Performance
BDCZ vs. LVHI - Performance Comparison
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Returns By Period
In the year-to-date period, BDCZ achieves a -9.13% return, which is significantly lower than LVHI's 12.58% return.
BDCZ
- 1D
- -0.96%
- 1M
- -1.24%
- YTD
- -9.13%
- 6M
- -7.40%
- 1Y
- -11.49%
- 3Y*
- 4.55%
- 5Y*
- 3.26%
- 10Y*
- 6.00%
LVHI
- 1D
- 0.27%
- 1M
- -0.51%
- YTD
- 12.58%
- 6M
- 13.29%
- 1Y
- 31.95%
- 3Y*
- 21.74%
- 5Y*
- 16.01%
- 10Y*
- —
BDCZ vs. LVHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -9.13% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | -10.95% | 26.00% | -7.64% | 0.40% |
LVHI Franklin International Low Volatility High Dividend Index ETF | 12.58% | 27.12% | 14.81% | 17.45% | 3.84% | 18.19% | -8.76% | 18.35% | -5.22% | 12.26% |
Correlation
The correlation between BDCZ and LVHI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jul 28, 2016 | 0.41 |
Over the past year, the correlation between BDCZ and LVHI has dropped to 0.21 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
BDCZ vs. LVHI — Risk / Return Rank
BDCZ
LVHI
BDCZ vs. LVHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and Franklin International Low Volatility High Dividend Index ETF (LVHI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BDCZ | LVHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.90 | ||
| Sortino ratioReturn per unit of downside risk | -5.24 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.63 | -0.71 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 5.28 | -5.86 |
| Martin ratioReturn relative to average drawdown | -1.00 | 21.86 | -22.87 |
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Drawdowns
BDCZ vs. LVHI - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than LVHI's maximum drawdown of -32.31%. Use the drawdown chart below to compare losses from any high point for BDCZ and LVHI.
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Drawdown Indicators
| BDCZ | LVHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -32.31% | -23.32% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -6.08% | -13.87% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -11.99% | -8.78% |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | -11.99% | -11.13% |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -18.30% | -1.05% | -17.25% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -3.50% | -4.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.46% | 1.47% | +9.99% |
Volatility
BDCZ vs. LVHI - Volatility Comparison
ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 8.43% compared to Franklin International Low Volatility High Dividend Index ETF (LVHI) at 2.62%. This indicates that BDCZ's price experiences larger fluctuations and is considered to be riskier than LVHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCZ | LVHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.43% | 2.62% | +5.81% |
Volatility (6M)Calculated over the trailing 6-month period | 17.34% | 7.70% | +9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.65% | 9.63% | +11.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.80% | 11.08% | +6.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | 13.74% | +8.02% |
BDCZ vs. LVHI - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is higher than LVHI's 0.40% expense ratio.
Dividends
BDCZ vs. LVHI - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 11.42%, more than LVHI's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 11.42% | 10.65% | 9.26% | 9.13% | 9.39% | 7.49% | 10.01% | 8.40% | 9.66% | 8.74% | 7.98% |
LVHI Franklin International Low Volatility High Dividend Index ETF | 4.74% | 4.92% | 3.98% | 8.12% | 7.74% | 4.13% | 3.97% | 6.67% | 10.67% | 3.38% | 2.02% |
Frequently Asked Questions
BDCZ and LVHI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCZ has higher volatility (8.43%) compared to LVHI (2.62%). In terms of maximum drawdown, BDCZ dropped -55.63% vs LVHI's -32.31%.
On 5-year performance, LVHI leads with 16.01% vs 3.26% for BDCZ. On fees, LVHI is cheaper at 0.40% per year. On volatility, LVHI has been the lower-risk option at 2.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, LVHI has performed better with a 16.01% return vs 3.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LVHI is cheaper with a 0.40% expense ratio, compared with 0.85% for BDCZ.
BDCZ has the higher dividend yield at 11.42%, compared with 4.74% for LVHI.
BDCZ is categorized as Financials Equities, while LVHI is Volatility Hedged Equity. BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index, while LVHI tracks Franklin International Low Volatility High Dividend Hedged Index-NR. They also come from different issuers: UBS and Franklin Templeton. Their fees differ too: 0.85% for BDCZ and 0.40% for LVHI.
LVHI currently has the higher Sharpe Ratio (3.34 vs -0.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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