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BIZD vs. FNCL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BIZD vs. FNCL

Last updated Jun 24, 2026

BIZD (VanEck BDC Income ETF) and FNCL (Fidelity MSCI Financials Index ETF) are both Financials Equities funds - BIZD tracks the MVIS US Business Development Companies Index while FNCL tracks the MSCI USA IMI Financials Index. Both are passively managed. Over the past 10 years, BIZD returned 7.56%/yr vs 13.45%/yr for FNCL. A 0.60 correlation means they provide meaningful diversification when combined. BIZD charges 12.86%/yr vs 0.08%/yr for FNCL.

Performance

BIZD vs. FNCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck BDC Income ETF (BIZD) and Fidelity MSCI Financials Index ETF (FNCL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BIZD achieves a -9.87% return, which is significantly lower than FNCL's -0.31% return. Over the past 10 years, BIZD has underperformed FNCL with an annualized return of 7.56%, while FNCL has yielded a comparatively higher 13.45% annualized 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%

FNCL

1D
0.46%
1M
4.20%
YTD
-0.31%
6M
-1.64%
1Y
8.95%
3Y*
20.96%
5Y*
10.07%
10Y*
13.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BIZD vs. FNCL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BIZD
VanEck BDC Income ETF		-9.87%-4.96%15.63%27.02%-8.51%36.25%-7.12%30.87%-6.88%0.36%
FNCL
Fidelity MSCI Financials Index ETF		-0.31%14.94%30.44%14.10%-12.28%34.92%-2.19%31.59%-13.44%19.99%

Correlation

The correlation between BIZD and FNCL is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.55

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

0.58

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

0.64

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

0.60

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2013

0.60

The correlation between BIZD and FNCL has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.

BIZD vs. FNCL - Sectors Allocation Comparison

Sectors
BIZD
FNCL

Financial Services

100.0%
96.9%

Basic Materials

-

-

Communication Services

-

0.0%

Consumer Cyclical

-

0.0%

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

0.1%

Industrials

-

0.2%

Real Estate

-

0.7%

Technology

-

2.0%

Utilities

-

-

Financial Services

BIZD
100.0%
FNCL
96.9%

Basic Materials

BIZD

-

FNCL

-

Communication Services

BIZD

-

FNCL
0.0%

Consumer Cyclical

BIZD

-

FNCL
0.0%

Consumer Defensive

BIZD

-

FNCL

-

Energy

BIZD

-

FNCL

-

Healthcare

BIZD

-

FNCL
0.1%

Industrials

BIZD

-

FNCL
0.2%

Real Estate

BIZD

-

FNCL
0.7%

Technology

BIZD

-

FNCL
2.0%

Utilities

BIZD

-

FNCL

-

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

Fidelity MSCI Financials Index ETF

Often compared with BIZD:
BIZD vs. PBDCBIZD vs. ARCCBIZD vs. CEFSBIZD vs. PSPBIZD vs. PEXBIZD vs. PFLTBIZD vs. SCHD
Often compared with FNCL:
FNCL vs. XLFFNCL vs. VFHFNCL vs. FIDSXFNCL vs. FSPCXFNCL vs. FTECFNCL vs. KBEFNCL vs. FCOM

Return for Risk

BIZD vs. FNCL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BIZD
BIZD Risk / Return Rank: 44
Overall Rank
BIZD Sharpe Ratio Rank: 44
Sharpe Ratio Rank
BIZD Sortino Ratio Rank: 33
Sortino Ratio Rank
BIZD Omega Ratio Rank: 44
Omega Ratio Rank
BIZD Calmar Ratio Rank: 44
Calmar Ratio Rank
BIZD Martin Ratio Rank: 44
Martin Ratio Rank
FNCL
FNCL Risk / Return Rank: 1717
Overall Rank
FNCL Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
FNCL Sortino Ratio Rank: 1717
Sortino Ratio Rank
FNCL Omega Ratio Rank: 1717
Omega Ratio Rank
FNCL Calmar Ratio Rank: 1616
Calmar Ratio Rank
FNCL Martin Ratio Rank: 1616
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. FNCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and Fidelity MSCI Financials Index ETF (FNCL). 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.

BIZDFNCLDifference
Sharpe ratioReturn per unit of total volatility
-0.69
0.60

-1.30

Sortino ratioReturn per unit of downside risk
-0.89
0.91

-1.80

Omega ratioGain probability vs. loss probability

0.90

1.11

-0.21

Calmar ratioReturn relative to maximum drawdown

-0.58

0.61

-1.18

Martin ratioReturn relative to average drawdown

-0.96

1.58

-2.54

BIZD vs. FNCL - Sharpe Ratio Comparison

The current BIZD Sharpe Ratio is -0.69, which is lower than the FNCL Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of BIZD and FNCL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BIZD vs. FNCL - Drawdown Comparison

The maximum BIZD drawdown since its inception was -55.44%, which is greater than FNCL's maximum drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for BIZD and FNCL.

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Drawdown Indicators

BIZDFNCLDifference

Max Drawdown

Largest peak-to-trough decline

-55.44%

-44.38%

-11.06%

Max Drawdown (1Y)

Largest decline over 1 year

-22.22%

-14.78%

-7.44%

Max Drawdown (3Y)

Largest decline over 3 years

-22.56%

-17.29%

-5.27%

Max Drawdown (5Y)

Largest decline over 5 years

-22.91%

-25.68%

+2.77%

Max Drawdown (10Y)

Largest decline over 10 years

-55.44%

-44.38%

-11.06%

Current Drawdown

Current decline from peak

-20.05%

-3.35%

-16.70%

Average Drawdown

Average peak-to-trough decline

-6.76%

-6.90%

+0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.30%

5.68%

+7.62%

Volatility

BIZD vs. FNCL - Volatility Comparison

VanEck BDC Income ETF (BIZD) has a higher volatility of 5.60% compared to Fidelity MSCI Financials Index ETF (FNCL) at 4.22%. This indicates that BIZD's price experiences larger fluctuations and is considered to be riskier than FNCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BIZDFNCLDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.60%

4.22%

+1.38%

Volatility (6M)

Calculated over the trailing 6-month period

15.19%

11.36%

+3.83%

Volatility (1Y)

Calculated over the trailing 1-year period

18.50%

14.94%

+3.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.44%

19.21%

-1.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.78%

22.30%

-0.52%

BIZD vs. FNCL - Expense Ratio Comparison

BIZD has a 12.86% expense ratio, which is higher than FNCL's 0.08% expense ratio.

Dividends

BIZD vs. FNCL - Dividend Comparison

BIZD's dividend yield for the trailing twelve months is around 14.01%, more than FNCL's 1.64% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
FNCL
Fidelity MSCI Financials Index ETF		1.64%1.45%1.52%1.91%2.29%1.75%2.26%2.17%2.37%1.60%1.81%2.17%

Frequently Asked Questions

BIZD and FNCL have a correlation of 0.55, 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 FNCL (4.22%). In terms of maximum drawdown, BIZD dropped -55.44% vs FNCL's -44.38%.

On 10-year performance, FNCL leads with 13.45% vs 7.56% for BIZD. On fees, FNCL is cheaper at 0.08% per year. On volatility, FNCL has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FNCL has performed better with a 13.45% return vs 7.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FNCL is cheaper with a 0.08% expense ratio, compared with 12.86% for BIZD.

BIZD has the higher dividend yield at 14.01%, compared with 1.64% for FNCL.

BIZD tracks MVIS US Business Development Companies Index, while FNCL tracks MSCI USA IMI Financials Index. They also come from different issuers: VanEck and Fidelity. Their fees differ too: 12.86% for BIZD and 0.08% for FNCL.

FNCL currently has the higher Sharpe Ratio (0.60 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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