BIZD vs. FLSP
BIZD (VanEck BDC Income ETF) and FLSP (Franklin Liberty Systematic Style Premia ETF) are both exchange-traded funds - BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index, while FLSP is a Long-Short fund actively managed by Franklin Templeton. BIZD is passively managed, while FLSP is actively managed. Over the past 5 years, BIZD returned 3.92%/yr vs 8.35%/yr for FLSP. At a 0.05 correlation, their price movements are largely independent. BIZD charges 12.86%/yr vs 0.65%/yr for FLSP.
Performance
BIZD vs. FLSP - Performance Comparison
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Returns By Period
In the year-to-date period, BIZD achieves a -9.87% return, which is significantly lower than FLSP's 1.97% return.
BIZD
- 1D
- 0.65%
- 1M
- -0.65%
- YTD
- -9.87%
- 6M
- -8.40%
- 1Y
- -12.75%
- 3Y*
- 5.35%
- 5Y*
- 3.92%
- 10Y*
- 7.56%
FLSP
- 1D
- -0.36%
- 1M
- 0.59%
- YTD
- 1.97%
- 6M
- 2.01%
- 1Y
- 14.58%
- 3Y*
- 10.33%
- 5Y*
- 8.35%
- 10Y*
- —
BIZD vs. FLSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | -9.87% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | -0.83% |
FLSP Franklin Liberty Systematic Style Premia ETF | 1.97% | 15.56% | 11.75% | 3.14% | 0.44% | 11.44% | -15.19% | 0.90% |
Correlation
The correlation between BIZD and FLSP is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 23, 2019 | 0.05 |
The correlation between BIZD and FLSP shifts across timeframes, from -0.10 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BIZD vs. FLSP — Risk / Return Rank
BIZD
FLSP
BIZD vs. FLSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and Franklin Liberty Systematic Style Premia ETF (FLSP). 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.
| BIZD | FLSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.28 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 3.63 | -4.21 |
| Martin ratioReturn relative to average drawdown | -0.96 | 10.82 | -11.78 |
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Drawdowns
BIZD vs. FLSP - Drawdown Comparison
The maximum BIZD drawdown since its inception was -55.44%, which is greater than FLSP's maximum drawdown of -22.75%. Use the drawdown chart below to compare losses from any high point for BIZD and FLSP.
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Drawdown Indicators
| BIZD | FLSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.44% | -22.75% | -32.69% |
Max Drawdown (1Y)Largest decline over 1 year | -22.22% | -4.03% | -18.19% |
Max Drawdown (3Y)Largest decline over 3 years | -22.56% | -6.69% | -15.87% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -9.52% | -13.39% |
Max Drawdown (10Y)Largest decline over 10 years | -55.44% | — | — |
Current DrawdownCurrent decline from peak | -20.05% | -1.26% | -18.79% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -6.26% | -0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.30% | 1.39% | +11.91% |
Volatility
BIZD vs. FLSP - Volatility Comparison
VanEck BDC Income ETF (BIZD) has a higher volatility of 5.60% compared to Franklin Liberty Systematic Style Premia ETF (FLSP) at 1.79%. This indicates that BIZD's price experiences larger fluctuations and is considered to be riskier than FLSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIZD | FLSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 1.79% | +3.81% |
Volatility (6M)Calculated over the trailing 6-month period | 15.19% | 6.78% | +8.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.50% | 9.07% | +9.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.44% | 13.35% | +4.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.78% | 13.48% | +8.30% |
BIZD vs. FLSP - Expense Ratio Comparison
BIZD has a 12.86% expense ratio, which is higher than FLSP's 0.65% expense ratio.
Dividends
BIZD vs. FLSP - Dividend Comparison
BIZD's dividend yield for the trailing twelve months is around 14.01%, more than FLSP's 2.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 14.01% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
FLSP Franklin Liberty Systematic Style Premia ETF | 2.60% | 2.65% | 1.18% | 1.19% | 2.18% | 1.19% | 8.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BIZD and FLSP have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIZD has higher volatility (5.60%) compared to FLSP (1.79%). In terms of maximum drawdown, BIZD dropped -55.44% vs FLSP's -22.75%.
On 5-year performance, FLSP leads with 8.35% vs 3.92% for BIZD. On fees, FLSP is cheaper at 0.65% per year. On volatility, FLSP has been the lower-risk option at 1.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLSP has performed better with a 8.35% return vs 3.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLSP is cheaper with a 0.65% expense ratio, compared with 12.86% for BIZD.
BIZD has the higher dividend yield at 14.01%, compared with 2.60% for FLSP.
BIZD is categorized as Financials Equities, while FLSP is Long-Short. They also come from different issuers: VanEck and Franklin Templeton. Their fees differ too: 12.86% for BIZD and 0.65% for FLSP.
FLSP currently has the higher Sharpe Ratio (1.62 vs -0.69), 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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