PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
BIZD vs. BDCZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BIZD vs. BDCZ

Last updated Jun 4, 2026

BIZD (VanEck BDC Income ETF) and BDCZ (ETRACS MVIS Business Development Companies Index ETN) are both Financials Equities funds - BIZD tracks the MVIS US Business Development Companies Index while BDCZ tracks the BDCZ-US - MVIS US Business Development Companies Index. Both are passively managed. Over the past 10 years, BIZD returned 7.77%/yr vs 6.23%/yr for BDCZ. A 0.79 correlation means they provide meaningful diversification when combined. BIZD charges 0.42%/yr vs 0.85%/yr for BDCZ.

Performance

BIZD vs. BDCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck BDC Income ETF (BIZD) and ETRACS MVIS Business Development Companies Index ETN (BDCZ). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, BIZD achieves a -8.99% return, which is significantly lower than BDCZ's -7.98% return. Over the past 10 years, BIZD has outperformed BDCZ with an annualized return of 7.77%, while BDCZ has yielded a comparatively lower 6.23% annualized return.

BIZD

1D
-2.28%
1M
-6.62%
YTD
-8.99%
6M
-10.20%
1Y
-12.94%
3Y*
5.27%
5Y*
4.03%
10Y*
7.77%

BDCZ

1D
-2.73%
1M
-7.44%
YTD
-7.98%
6M
-8.99%
1Y
-10.32%
3Y*
4.75%
5Y*
3.38%
10Y*
6.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BIZD vs. BDCZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BIZD
VanEck BDC Income ETF		-8.99%-4.96%15.63%27.02%-8.51%36.25%-7.12%30.87%-6.88%0.36%
BDCZ
ETRACS MVIS Business Development Companies Index ETN		-7.98%-3.72%12.22%25.31%-9.12%33.97%-10.95%26.00%-7.64%0.40%

Correlation

The correlation between BIZD and BDCZ is 0.89, 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

0.89

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (5Y)
Calculated over the trailing 5-year period

0.96

Correlation (10Y)
Calculated over the trailing 10-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.79

The correlation between BIZD and BDCZ shifts across timeframes, from 0.79 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck BDC Income ETF

ETRACS MVIS Business Development Companies Index ETN

Often compared with BIZD:
BIZD vs. PBDCBIZD vs. ARCCBIZD vs. CEFSBIZD vs. PSPBIZD vs. PEXBIZD vs. PFLTBIZD vs. SCHD
Often compared with BDCZ:
BDCZ vs. MLPRBDCZ vs. MTCIXBDCZ vs. PBDCBDCZ vs. FEQIXBDCZ vs. HYGBDCZ vs. SMHBDCZ vs. LVHI

Return for Risk

BIZD vs. BDCZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BIZD
BIZD Risk / Return Rank: 33
Overall Rank
BIZD Sharpe Ratio Rank: 33
Sharpe Ratio Rank
BIZD Sortino Ratio Rank: 33
Sortino Ratio Rank
BIZD Omega Ratio Rank: 33
Omega Ratio Rank
BIZD Calmar Ratio Rank: 44
Calmar Ratio Rank
BIZD Martin Ratio Rank: 44
Martin Ratio Rank
BDCZ
BDCZ Risk / Return Rank: 44
Overall Rank
BDCZ Sharpe Ratio Rank: 44
Sharpe Ratio Rank
BDCZ Sortino Ratio Rank: 44
Sortino Ratio Rank
BDCZ Omega Ratio Rank: 44
Omega Ratio Rank
BDCZ Calmar Ratio Rank: 44
Calmar Ratio Rank
BDCZ Martin Ratio Rank: 44
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BIZD vs. BDCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and ETRACS MVIS Business Development Companies Index ETN (BDCZ). 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.

BIZDBDCZDifference
Sharpe ratioReturn per unit of total volatility
-0.72
-0.51

-0.21

Sortino ratioReturn per unit of downside risk
-0.93
-0.59

-0.34

Omega ratioGain probability vs. loss probability

0.90

0.93

-0.03

Calmar ratioReturn relative to maximum drawdown

-0.58

-0.52

-0.07

Martin ratioReturn relative to average drawdown

-1.03

-0.95

-0.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIZD vs. BDCZ - Sharpe Ratio Comparison

The current BIZD Sharpe Ratio is -0.72, which is lower than the BDCZ Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of BIZD and BDCZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

BIZDBDCZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.72

-0.51

-0.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.23

0.19

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.36

0.29

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.27

+0.03

Drawdowns

BIZD vs. BDCZ - Drawdown Comparison

The maximum BIZD drawdown since its inception was -55.44%, roughly equal to the maximum BDCZ drawdown of -55.63%. Use the drawdown chart below to compare losses from any high point for BIZD and BDCZ.

Loading charts...

Drawdown Indicators

BIZDBDCZDifference

Max Drawdown

Largest peak-to-trough decline

-55.44%

-55.63%

+0.19%

Max Drawdown (1Y)

Largest decline over 1 year

-22.22%

-19.95%

-2.27%

Max Drawdown (3Y)

Largest decline over 3 years

-22.56%

-20.77%

-1.79%

Max Drawdown (5Y)

Largest decline over 5 years

-22.91%

-23.12%

+0.21%

Max Drawdown (10Y)

Largest decline over 10 years

-55.44%

-55.63%

+0.19%

Current Drawdown

Current decline from peak

-19.27%

-17.27%

-2.00%

Average Drawdown

Average peak-to-trough decline

-6.72%

-7.86%

+1.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.63%

10.94%

+1.69%

Volatility

BIZD vs. BDCZ - Volatility Comparison

The current volatility for VanEck BDC Income ETF (BIZD) is 4.79%, while ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a volatility of 8.37%. This indicates that BIZD experiences smaller price fluctuations and is considered to be less risky than BDCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

BIZDBDCZDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.79%

8.37%

-3.58%

Volatility (6M)

Calculated over the trailing 6-month period

14.77%

17.17%

-2.40%

Volatility (1Y)

Calculated over the trailing 1-year period

18.11%

20.42%

-2.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.40%

17.80%

-0.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.74%

21.73%

+0.01%

BIZD vs. BDCZ - Expense Ratio Comparison

BIZD has a 0.42% expense ratio, which is lower than BDCZ's 0.85% expense ratio.

Dividends

BIZD vs. BDCZ - Dividend Comparison

BIZD's dividend yield for the trailing twelve months is around 13.87%, more than BDCZ's 11.28% yield.

PositionTTM20252024202320222021202020192018201720162015
BDCZ
ETRACS MVIS Business Development Companies Index ETN		11.28%10.65%9.26%9.13%9.39%7.49%10.01%8.40%9.66%8.74%7.98%0.00%
BIZD
VanEck BDC Income ETF		13.87%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

BIZD and BDCZ have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BDCZ has higher volatility (8.37%) compared to BIZD (4.79%). In terms of maximum drawdown, BIZD dropped -55.44% vs BDCZ's -55.63%.

On 10-year performance, BIZD leads with 7.77% vs 6.23% for BDCZ. On fees, BIZD is cheaper at 0.42% per year. On volatility, BIZD has been the lower-risk option at 4.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, BIZD has performed better with a 7.77% return vs 6.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BIZD is cheaper with a 0.42% expense ratio, compared with 0.85% for BDCZ.

BIZD has the higher dividend yield at 13.87%, compared with 11.28% for BDCZ.

BIZD tracks MVIS US Business Development Companies Index, while BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index. They also come from different issuers: VanEck and UBS. Their fees differ too: 0.42% for BIZD and 0.85% for BDCZ.

BDCZ currently has the higher Sharpe Ratio (-0.51 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.

Portfolio Optimizer

Find the right allocation for BIZD and BDCZ

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer