BDCZ vs. MTCIX

Last updated Jun 23, 2026

BDCZ (ETRACS MVIS Business Development Companies Index ETN) and MTCIX (MFS Technology Fund) are both funds - BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index, while MTCIX is a Technology Equities fund managed by MFS. Over the past 10 years, BDCZ returned 6.00%/yr vs 22.36%/yr for MTCIX. At a 0.34 correlation, their price movements are largely independent. BDCZ charges 0.85%/yr vs 0.88%/yr for MTCIX.

Performance

BDCZ vs. MTCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS MVIS Business Development Companies Index ETN (BDCZ) and MFS Technology Fund (MTCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDCZ achieves a -9.13% return, which is significantly lower than MTCIX's 19.47% return. Over the past 10 years, BDCZ has underperformed MTCIX with an annualized return of 6.00%, while MTCIX has yielded a comparatively higher 22.36% annualized 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%

MTCIX

• 1D: 2.64%
• 1M: 5.22%
• YTD: 19.47%
• 6M: 18.51%
• 1Y: 39.73%
• 3Y*: 36.49%
• 5Y*: 17.75%
• 10Y*: 22.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BDCZ vs. MTCIX - 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%
MTCIX MFS Technology Fund	19.47%	16.39%	56.76%	54.42%	-36.18%	14.11%	46.45%	38.84%	1.85%	38.78%

Correlation

The correlation between BDCZ and MTCIX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015	0.34

The correlation between BDCZ and MTCIX shifts across timeframes, from 0.25 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BDCZ vs. MTCIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BDCZ

BDCZ Risk / Return Rank: 4
BDCZ Sharpe Ratio Rank: 4
BDCZ Sortino Ratio Rank: 4
BDCZ Omega Ratio Rank: 4
BDCZ Calmar Ratio Rank: 4
BDCZ Martin Ratio Rank: 4

MTCIX

MTCIX Risk / Return Rank: 35
MTCIX Sharpe Ratio Rank: 41
MTCIX Sortino Ratio Rank: 35
MTCIX Omega Ratio Rank: 36
MTCIX Calmar Ratio Rank: 33
MTCIX Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BDCZ vs. MTCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and MFS Technology Fund (MTCIX). 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	MTCIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	1.73	-2.29
Sortino ratio: Return per unit of downside risk	-0.67	2.29	-2.96
Omega ratio: Gain probability vs. loss probability	0.92	1.30	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.58	2.06	-2.64
Martin ratio: Return relative to average drawdown	-1.00	6.65	-7.65

BDCZ vs. MTCIX - Sharpe Ratio Comparison

The current BDCZ Sharpe Ratio is -0.56, which is lower than the MTCIX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of BDCZ and MTCIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BDCZ vs. MTCIX - Drawdown Comparison

The maximum BDCZ drawdown since its inception was -55.63%, smaller than the maximum MTCIX drawdown of -82.78%. Use the drawdown chart below to compare losses from any high point for BDCZ and MTCIX.

Drawdown Indicators

	BDCZ	MTCIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.63%	-82.78%	+27.15%
Max Drawdown (1Y) Largest decline over 1 year	-19.95%	-18.59%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-20.77%	-25.97%	+5.20%
Max Drawdown (5Y) Largest decline over 5 years	-23.12%	-42.74%	+19.62%
Max Drawdown (10Y) Largest decline over 10 years	-55.63%	-42.74%	-12.89%
Current Drawdown Current decline from peak	-18.30%	-2.48%	-15.82%
Average Drawdown Average peak-to-trough decline	-7.90%	-29.81%	+21.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.46%	5.75%	+5.71%

Volatility

BDCZ vs. MTCIX - Volatility Comparison

The current volatility for ETRACS MVIS Business Development Companies Index ETN (BDCZ) is 8.43%, while MFS Technology Fund (MTCIX) has a volatility of 9.81%. This indicates that BDCZ experiences smaller price fluctuations and is considered to be less risky than MTCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDCZ	MTCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	9.81%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	17.34%	18.16%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	20.65%	22.08%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.80%	25.68%	-7.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.76%	24.20%	-2.44%

BDCZ vs. MTCIX - Expense Ratio Comparison

BDCZ has a 0.85% expense ratio, which is lower than MTCIX's 0.88% expense ratio.

Dividends

BDCZ vs. MTCIX - Dividend Comparison

BDCZ's dividend yield for the trailing twelve months is around 11.42%, which matches MTCIX's 11.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
MTCIX MFS Technology Fund	11.48%	13.71%	26.78%	9.66%	10.35%	11.58%	4.97%	3.87%	4.97%	3.51%	1.84%	3.62%

Frequently Asked Questions

Can I hold both BDCZ and MTCIX in my portfolio?

BDCZ and MTCIX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BDCZ or MTCIX?

MTCIX has higher volatility (9.81%) compared to BDCZ (8.43%). In terms of maximum drawdown, BDCZ dropped -55.63% vs MTCIX's -82.78%.

Which has better risk-adjusted returns?

MTCIX currently has the higher Sharpe Ratio (1.73 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.