BDCZ vs. USDX
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and USDX (SGI Enhanced Core ETF) are both exchange-traded funds - BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index, while USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments. BDCZ is passively managed, while USDX is actively managed. Over the past year, BDCZ returned -10.27% vs 6.47% for USDX. At a correlation of -0.04, they often move in opposite directions. BDCZ charges 0.85%/yr vs 0.98%/yr for USDX.
Performance
BDCZ vs. USDX - Performance Comparison
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Returns By Period
In the year-to-date period, BDCZ achieves a -8.73% return, which is significantly lower than USDX's 2.55% return.
BDCZ
- 1D
- 0.45%
- 1M
- -0.80%
- YTD
- -8.73%
- 6M
- -6.81%
- 1Y
- -10.27%
- 3Y*
- 4.71%
- 5Y*
- 3.29%
- 10Y*
- 6.05%
USDX
- 1D
- 0.04%
- 1M
- 0.31%
- YTD
- 2.55%
- 6M
- 2.67%
- 1Y
- 6.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BDCZ vs. USDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -8.73% | -3.72% | 10.68% |
USDX SGI Enhanced Core ETF | 2.55% | 6.25% | 6.87% |
Correlation
The correlation between BDCZ and USDX is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024 | -0.04 |
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Return for Risk
BDCZ vs. USDX — Risk / Return Rank
BDCZ
USDX
BDCZ vs. USDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) and SGI Enhanced Core ETF (USDX). 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 | USDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.64 | ||
| Sortino ratioReturn per unit of downside risk | -5.56 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.77 | -0.84 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 6.93 | -7.45 |
| Martin ratioReturn relative to average drawdown | -0.89 | 44.33 | -45.23 |
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Drawdowns
BDCZ vs. USDX - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than USDX's maximum drawdown of -0.94%. Use the drawdown chart below to compare losses from any high point for BDCZ and USDX.
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Drawdown Indicators
| BDCZ | USDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -0.94% | -54.69% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -0.94% | -19.01% |
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 | -17.94% | 0.00% | -17.94% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -0.06% | -7.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.51% | 0.15% | +11.36% |
Volatility
BDCZ vs. USDX - Volatility Comparison
ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 8.44% compared to SGI Enhanced Core ETF (USDX) at 1.06%. This indicates that BDCZ's price experiences larger fluctuations and is considered to be riskier than USDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDCZ | USDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.44% | 1.06% | +7.38% |
Volatility (6M)Calculated over the trailing 6-month period | 17.35% | 1.90% | +15.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.62% | 2.07% | +18.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.81% | 1.74% | +16.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | 1.74% | +20.02% |
BDCZ vs. USDX - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is lower than USDX's 0.98% expense ratio.
Dividends
BDCZ vs. USDX - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 11.37%, more than USDX's 5.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 11.37% | 10.65% | 9.26% | 9.13% | 9.39% | 7.49% | 10.01% | 8.40% | 9.66% | 8.74% | 7.98% |
USDX SGI Enhanced Core ETF | 5.86% | 5.88% | 4.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCZ and USDX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCZ has higher volatility (8.44%) compared to USDX (1.06%). In terms of maximum drawdown, BDCZ dropped -55.63% vs USDX's -0.94%.
On 1-year performance, USDX leads with 6.47% vs -10.27% for BDCZ. On fees, BDCZ is cheaper at 0.85% per year. On volatility, USDX has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USDX has performed better with a 6.47% return vs -10.27%. 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 0.98% for USDX.
BDCZ has the higher dividend yield at 11.37%, compared with 5.86% for USDX.
BDCZ is categorized as Financials Equities, while USDX is Intermediate Core Bond. They also come from different issuers: UBS and Summit Global Investments. Their fees differ too: 0.85% for BDCZ and 0.98% for USDX.
USDX currently has the higher Sharpe Ratio (3.14 vs -0.50), 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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