BDCZ vs. NFXS
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index, while NFXS is a Inverse Equities fund actively managed by Direxion. BDCZ is passively managed, while NFXS is actively managed. Over the past year, BDCZ returned -13.20% vs 61.27% for NFXS. At a correlation of -0.17, they often move in opposite directions. BDCZ charges 0.85%/yr vs 1.03%/yr for NFXS.
Performance
BDCZ vs. NFXS - Performance Comparison
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Returns By Period
In the year-to-date period, BDCZ achieves a -6.43% return, which is significantly lower than NFXS's 22.86% return.
BDCZ
- 1D
- 0.65%
- 1M
- -0.44%
- 6M
- -7.54%
- YTD
- -6.43%
- 1Y
- -13.20%
- 3Y*
- 3.90%
- 5Y*
- 3.74%
- 10Y*
- 6.07%
NFXS
- 1D
- 2.84%
- 1M
- 8.59%
- 6M
- 17.10%
- YTD
- 22.86%
- 1Y
- 61.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BDCZ vs. NFXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -6.43% | -3.72% | 4.79% |
NFXS Direxion Daily NFLX Bear 1X Shares | 22.86% | -8.56% | -21.49% |
Correlation
The correlation between BDCZ and NFXS is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | -0.17 |
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Return for Risk
BDCZ vs. NFXS — Risk / Return Rank
BDCZ
NFXS
BDCZ vs. NFXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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 | NFXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.35 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 1.99 | -2.64 |
| Martin ratioReturn relative to average drawdown | -1.07 | 5.42 | -6.49 |
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Drawdowns
BDCZ vs. NFXS - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for BDCZ and NFXS.
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Drawdown Indicators
| BDCZ | NFXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -50.37% | -5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -31.31% | +11.36% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -15.88% | -13.82% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -7.94% | -31.46% | +23.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.01% | 11.49% | +0.52% |
Volatility
BDCZ vs. NFXS - Volatility Comparison
The current volatility for ETRACS MVIS Business Development Companies Index ETN (BDCZ) is 8.85%, while Direxion Daily NFLX Bear 1X Shares (NFXS) has a volatility of 11.99%. This indicates that BDCZ experiences smaller price fluctuations and is considered to be less risky than NFXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCZ | NFXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.85% | 11.99% | -3.14% |
Volatility (6M)Calculated over the trailing 6-month period | 18.82% | 27.57% | -8.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.11% | 34.55% | -12.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.15% | 34.86% | -16.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.91% | 34.86% | -12.95% |
BDCZ vs. NFXS - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is lower than NFXS's 1.03% expense ratio.
Dividends
BDCZ vs. NFXS - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 11.09%, more than NFXS's 2.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 11.09% | 10.65% | 9.26% | 9.13% | 9.39% | 7.49% | 10.01% | 8.40% | 9.66% | 8.74% | 7.98% |
NFXS Direxion Daily NFLX Bear 1X Shares | 2.88% | 3.53% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCZ and NFXS have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFXS has higher volatility (11.99%) compared to BDCZ (8.85%). In terms of maximum drawdown, BDCZ dropped -55.63% vs NFXS's -50.37%.
On 1-year performance, NFXS leads with 61.27% vs -13.20% for BDCZ. On fees, BDCZ is cheaper at 0.85% per year. On volatility, BDCZ has been the lower-risk option at 8.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NFXS has performed better with a 61.27% return vs -13.20%. 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 1.03% for NFXS.
BDCZ has the higher dividend yield at 11.09%, compared with 2.88% for NFXS.
BDCZ is categorized as Financials Equities, while NFXS is Inverse Equities. They also come from different issuers: UBS and Direxion. Their fees differ too: 0.85% for BDCZ and 1.03% for NFXS.
NFXS currently has the higher Sharpe Ratio (1.81 vs -0.58), 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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