BDCZ vs. MLPR
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) are both exchange-traded funds - BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index, while MLPR is a Leveraged Equities fund tracking the Alerian MLP Index (150%). Both are passively managed. Over the past 5 years, BDCZ returned 3.98%/yr vs 31.23%/yr for MLPR. Their 0.47 correlation means their historical movements had little consistent relationship. BDCZ charges 0.85%/yr vs 0.95%/yr for MLPR.
Performance
BDCZ vs. MLPR - Performance Comparison
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Returns By Period
In the year-to-date period, BDCZ achieves a -6.58% return, which is significantly lower than MLPR's 39.50% return.
BDCZ
- 1D
- -0.16%
- 1M
- -1.29%
- 6M
- -6.46%
- YTD
- -6.58%
- 1Y
- -10.62%
- 3Y*
- 2.54%
- 5Y*
- 3.98%
- 10Y*
- 6.30%
- ALL TIME*
- 5.90%
MLPR
- 1D
- 1.62%
- 1M
- 11.14%
- 6M
- 25.11%
- YTD
- 39.50%
- 1Y
- 39.67%
- 3Y*
- 31.28%
- 5Y*
- 31.23%
- 10Y*
- —
- ALL TIME*
- 32.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.15K | $28.17K | $19.88K | |
| $34.92K | $44.03K | $37.73K |
BDCZ vs. MLPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -6.58% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | 19.94% |
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 39.50% | 9.83% | 31.57% | 35.87% | 41.04% | 57.33% | -7.10% |
Correlation
The correlation between BDCZ and MLPR is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.47 |
Over the past year, the correlation between BDCZ and MLPR has dropped to 0.06 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
BDCZ vs. MLPR — Risk / Return Rank
BDCZ
MLPR
BDCZ vs. MLPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR). 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 | MLPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.28 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 2.55 | -3.24 |
| Martin ratioReturn relative to average drawdown | -1.24 | 7.25 | -8.49 |
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Drawdowns
BDCZ vs. MLPR - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than MLPR's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for BDCZ and MLPR.
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Drawdown Indicators
| BDCZ | MLPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -48.98% | -6.65% |
Max Drawdown (1Y)Largest decline over 1 year | -16.80% | -14.31% | -2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -24.45% | +3.68% |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | -28.66% | +5.54% |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -16.01% | -0.13% | -15.88% |
Average DrawdownAverage peak-to-trough decline | -7.98% | -8.89% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.36% | 5.35% | +4.01% |
Volatility
BDCZ vs. MLPR - Volatility Comparison
The current volatility for ETRACS MVIS Business Development Companies Index ETN (BDCZ) is 5.90%, while ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) has a volatility of 8.44%. This indicates that BDCZ experiences smaller price fluctuations and is considered to be less risky than MLPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCZ | MLPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 8.44% | -2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 18.49% | 17.18% | +1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.56% | 22.38% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.27% | 29.11% | -10.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.96% | 33.66% | -11.70% |
BDCZ vs. MLPR - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is lower than MLPR's 0.95% expense ratio.
Dividends
BDCZ vs. MLPR - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 12.12%, more than MLPR's 8.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 12.12% | 10.65% | 9.26% | 9.13% | 9.39% | 7.49% | 10.01% | 8.40% | 9.66% | 8.74% | 7.98% |
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 8.83% | 10.85% | 9.57% | 10.08% | 7.49% | 10.69% | 4.21% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCZ and MLPR have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLPR has higher volatility (8.44%) compared to BDCZ (5.90%). In terms of maximum drawdown, BDCZ dropped -55.63% vs MLPR's -48.98%.
On 5-year performance, MLPR leads with 31.23% vs 3.98% for BDCZ. On fees, BDCZ is cheaper at 0.85% per year. On volatility, BDCZ has been the lower-risk option at 5.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MLPR has performed better with a 31.23% return vs 3.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BDCZ is cheaper with a 0.85% expense ratio, compared with 0.95% for MLPR.
BDCZ has the higher dividend yield at 12.12%, compared with 8.83% for MLPR.
BDCZ is categorized as Financials Equities, while MLPR is Leveraged Equities. BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index, while MLPR tracks Alerian MLP Index (150%). Their fees differ too: 0.85% for BDCZ and 0.95% for MLPR.
MLPR currently has the higher Sharpe Ratio (1.63 vs -0.52), 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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