BDCZ vs. PBEU
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds - BDCZ tracks the BDCZ-US - MVIS US Business Development Companies Index while PBEU tracks the BITA European Banks Index. Both are passively managed. Their 0.32 correlation means their historical movements had little consistent relationship. BDCZ charges 0.85%/yr vs 0.13%/yr for PBEU.
Performance
BDCZ vs. PBEU - 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 PBEU's 21.81% 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%
PBEU
- 1D
- -0.11%
- 1M
- 5.63%
- 6M
- 13.95%
- YTD
- 21.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.15K | $28.17K | $19.88K | |
| $1.85M | $6.79M | $5.48M |
BDCZ vs. PBEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -6.58% | 2.18% |
PBEU Portfolio Building Block European Banks Index ETF | 21.81% | 11.42% |
Correlation
The correlation between BDCZ and PBEU is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | 0.32 |
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Return for Risk
BDCZ vs. PBEU — Risk / Return Rank
BDCZ
PBEU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BDCZ vs. PBEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and Portfolio Building Block European Banks Index ETF (PBEU). 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 | PBEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.93 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | — | — |
| Martin ratioReturn relative to average drawdown | -1.24 | — | — |
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Drawdowns
BDCZ vs. PBEU - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for BDCZ and PBEU.
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Drawdown Indicators
| BDCZ | PBEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -17.26% | -38.37% |
Max Drawdown (1Y)Largest decline over 1 year | -16.80% | — | — |
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 | -16.01% | -0.11% | -15.90% |
Average DrawdownAverage peak-to-trough decline | -7.98% | -3.54% | -4.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.36% | — | — |
Volatility
BDCZ vs. PBEU - Volatility Comparison
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Volatility by Period
| BDCZ | PBEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 18.49% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 22.56% | 27.34% | -4.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.27% | 27.34% | -9.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.96% | 27.34% | -5.38% |
BDCZ vs. PBEU - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is higher than PBEU's 0.13% expense ratio.
Dividends
BDCZ vs. PBEU - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 12.12%, more than PBEU's 0.01% 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% |
PBEU Portfolio Building Block European Banks Index ETF | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCZ and PBEU have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBEU is cheaper with a 0.13% expense ratio, compared with 0.85% for BDCZ.
BDCZ has the higher dividend yield at 12.12%, compared with 0.01% for PBEU.
BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: UBS and Portfolio Building Block. Their fees differ too: 0.85% for BDCZ and 0.13% for PBEU.
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