BIZD vs. GLD
BIZD (VanEck BDC Income ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, BIZD returned 7.56%/yr vs 11.59%/yr for GLD. At a 0.04 correlation, their price movements are largely independent. BIZD charges 12.86%/yr vs 0.40%/yr for GLD.
Performance
BIZD vs. GLD - 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 GLD's -4.79% return. Over the past 10 years, BIZD has underperformed GLD with an annualized return of 7.56%, while GLD has yielded a comparatively higher 11.59% 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%
GLD
- 1D
- -1.89%
- 1M
- -8.82%
- YTD
- -4.79%
- 6M
- -8.78%
- 1Y
- 21.29%
- 3Y*
- 28.41%
- 5Y*
- 17.84%
- 10Y*
- 11.59%
BIZD vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
GLD SPDR Gold Shares | -4.79% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between BIZD and GLD is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.04 |
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Return for Risk
BIZD vs. GLD — Risk / Return Rank
BIZD
GLD
BIZD vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.17 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 0.87 | -1.45 |
| Martin ratioReturn relative to average drawdown | -0.96 | 2.35 | -3.31 |
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Drawdowns
BIZD vs. GLD - Drawdown Comparison
The maximum BIZD drawdown since its inception was -55.44%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for BIZD and GLD.
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Drawdown Indicators
| BIZD | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.44% | -45.56% | -9.88% |
Max Drawdown (1Y)Largest decline over 1 year | -22.22% | -24.46% | +2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -22.56% | -24.46% | +1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -24.46% | +1.55% |
Max Drawdown (10Y)Largest decline over 10 years | -55.44% | -24.46% | -30.98% |
Current DrawdownCurrent decline from peak | -20.05% | -23.91% | +3.86% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -16.17% | +9.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.30% | 9.10% | +4.20% |
Volatility
BIZD vs. GLD - Volatility Comparison
The current volatility for VanEck BDC Income ETF (BIZD) is 5.60%, while SPDR Gold Shares (GLD) has a volatility of 8.18%. This indicates that BIZD experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIZD | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 8.18% | -2.58% |
Volatility (6M)Calculated over the trailing 6-month period | 15.19% | 24.38% | -9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.50% | 27.57% | -9.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.44% | 18.24% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.78% | 16.04% | +5.74% |
BIZD vs. GLD - Expense Ratio Comparison
BIZD has a 12.86% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
BIZD vs. GLD - Dividend Comparison
BIZD's dividend yield for the trailing twelve months is around 14.01%, while GLD has not paid dividends to shareholders.
| 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% |
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BIZD and GLD have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.18%) compared to BIZD (5.60%). In terms of maximum drawdown, BIZD dropped -55.44% vs GLD's -45.56%.
On 10-year performance, GLD leads with 11.59% vs 7.56% for BIZD. On fees, GLD is cheaper at 0.40% per year. On volatility, BIZD has been the lower-risk option at 5.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 11.59% return vs 7.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 12.86% for BIZD.
BIZD has the higher dividend yield at 14.01%, compared with 0.00% for GLD.
BIZD is categorized as Financials Equities, while GLD is Gold. BIZD tracks MVIS US Business Development Companies Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: VanEck and State Street. Their fees differ too: 12.86% for BIZD and 0.40% for GLD.
GLD currently has the higher Sharpe Ratio (0.78 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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