BIZD vs. BDCX
BIZD (VanEck BDC Income ETF) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index, while BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%). Both are passively managed. Over the past 5 years, BIZD returned 3.86%/yr vs 1.22%/yr for BDCX. Their correlation of 0.94 suggests significant overlap in exposure. BIZD charges 12.86%/yr vs 0.95%/yr for BDCX.
Performance
BIZD vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, BIZD achieves a -8.77% return, which is significantly higher than BDCX's -11.90% return.
BIZD
- 1D
- -0.32%
- 1M
- -3.49%
- YTD
- -8.77%
- 6M
- -11.00%
- 1Y
- -13.11%
- 3Y*
- 4.91%
- 5Y*
- 3.86%
- 10Y*
- 7.80%
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
BIZD vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | -8.77% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | 17.92% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -11.90% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 24.50% |
Correlation
The correlation between BIZD and BDCX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.94 |
The correlation between BIZD and BDCX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
BIZD vs. BDCX — Risk / Return Rank
BIZD
BDCX
BIZD vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX). 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.
| BIZD | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.91 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | -0.59 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.03 | -1.04 | +0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIZD | BDCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.72 | -0.66 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.05 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.43 | -0.13 |
Drawdowns
BIZD vs. BDCX - Drawdown Comparison
The maximum BIZD drawdown since its inception was -55.44%, which is greater than BDCX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for BIZD and BDCX.
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Drawdown Indicators
| BIZD | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.44% | -34.96% | -20.48% |
Max Drawdown (1Y)Largest decline over 1 year | -22.22% | -30.46% | +8.24% |
Max Drawdown (3Y)Largest decline over 3 years | -22.56% | -33.39% | +10.83% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -34.96% | +12.05% |
Max Drawdown (10Y)Largest decline over 10 years | -55.44% | — | — |
Current DrawdownCurrent decline from peak | -19.08% | -28.40% | +9.32% |
Average DrawdownAverage peak-to-trough decline | -6.73% | -10.10% | +3.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.79% | 17.35% | -4.56% |
Volatility
BIZD vs. BDCX - Volatility Comparison
The current volatility for VanEck BDC Income ETF (BIZD) is 5.32%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.65%. This indicates that BIZD experiences smaller price fluctuations and is considered to be less risky than BDCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIZD | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 8.65% | -3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 14.92% | 22.81% | -7.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.31% | 27.60% | -9.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.44% | 26.59% | -9.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | 26.94% | -5.18% |
BIZD vs. BDCX - Expense Ratio Comparison
BIZD has a 12.86% expense ratio, which is higher than BDCX's 0.95% expense ratio.
Dividends
BIZD vs. BDCX - Dividend Comparison
BIZD's dividend yield for the trailing twelve months is around 13.84%, less than BDCX's 20.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 20.31% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BIZD VanEck BDC Income ETF | 13.84% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
Frequently Asked Questions
With a correlation of 0.91, BIZD and BDCX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BDCX has higher volatility (8.65%) compared to BIZD (5.32%). In terms of maximum drawdown, BIZD dropped -55.44% vs BDCX's -34.96%.
On 5-year performance, BIZD leads with 3.86% vs 1.22% for BDCX. On fees, BDCX is cheaper at 0.95% per year. On volatility, BIZD has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BIZD has performed better with a 3.86% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BDCX is cheaper with a 0.95% expense ratio, compared with 12.86% for BIZD.
BDCX has the higher dividend yield at 20.31%, compared with 13.84% for BIZD.
BIZD is categorized as Financials Equities, while BDCX is Leveraged Equities. BIZD tracks MVIS US Business Development Companies Index, while BDCX tracks MVIS US Business Development Companies (150%). They also come from different issuers: VanEck and UBS. Their fees differ too: 12.86% for BIZD and 0.95% for BDCX.
BDCX currently has the higher Sharpe Ratio (-0.66 vs -0.72), 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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