BDCZ vs. SBIT
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, BDCZ returned -10.62% vs 98.77% for SBIT. Their -0.23 correlation means they have often moved in opposite directions in the past. BDCZ charges 0.85%/yr vs 0.95%/yr for SBIT.
Performance
BDCZ vs. SBIT - 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 SBIT's 39.44% 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%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.15K | $28.17K | $19.88K | |
| $29.57M | $32.71M | $46.48M |
BDCZ vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -6.58% | -3.72% | 7.61% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between BDCZ and SBIT is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.23 |
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Return for Risk
BDCZ vs. SBIT — Risk / Return Rank
BDCZ
SBIT
BDCZ vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and Proshares Ultrashort Bitcoin ETF (SBIT). 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 | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.23 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 2.35 | -3.04 |
| Martin ratioReturn relative to average drawdown | -1.24 | 5.19 | -6.43 |
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Drawdowns
BDCZ vs. SBIT - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for BDCZ and SBIT.
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Drawdown Indicators
| BDCZ | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -91.35% | +35.72% |
Max Drawdown (1Y)Largest decline over 1 year | -16.80% | -47.94% | +31.14% |
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% | -77.87% | +61.86% |
Average DrawdownAverage peak-to-trough decline | -7.98% | -69.07% | +61.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.36% | 21.67% | -12.31% |
Volatility
BDCZ vs. SBIT - Volatility Comparison
The current volatility for ETRACS MVIS Business Development Companies Index ETN (BDCZ) is 5.90%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that BDCZ experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCZ | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 18.09% | -12.19% |
Volatility (6M)Calculated over the trailing 6-month period | 18.49% | 67.10% | -48.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.56% | 88.65% | -66.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.27% | 96.10% | -77.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.96% | 96.10% | -74.14% |
BDCZ vs. SBIT - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
BDCZ vs. SBIT - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 12.12%, more than SBIT's 4.10% 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% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCZ and SBIT have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (18.09%) compared to BDCZ (5.90%). In terms of maximum drawdown, BDCZ dropped -55.63% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs -10.62% 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 1-year period, SBIT has performed better with a 98.77% return vs -10.62%. 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 SBIT.
BDCZ has the higher dividend yield at 12.12%, compared with 4.03% for SBIT.
BDCZ is categorized as Financials Equities, while SBIT is Cryptocurrency. BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: UBS and ProShares. Their fees differ too: 0.85% for BDCZ and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 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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