BIZD vs. GSBD

Last updated Jun 4, 2026

BIZD (VanEck BDC Income ETF) is Financials Equities fund tracking the MVIS US Business Development Companies Index, while GSBD (Goldman Sachs BDC, Inc.) is a stock. Over the past 10 years, BIZD returned 7.77%/yr vs 3.09%/yr for GSBD. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

BIZD vs. GSBD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck BDC Income ETF (BIZD) and Goldman Sachs BDC, Inc. (GSBD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIZD achieves a -8.99% return, which is significantly lower than GSBD's -0.26% return. Over the past 10 years, BIZD has outperformed GSBD with an annualized return of 7.77%, while GSBD has yielded a comparatively lower 3.09% 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%

GSBD

• 1D: -2.63%
• 1M: -11.35%
• YTD: -0.26%
• 6M: -5.02%
• 1Y: -7.45%
• 3Y*: 0.95%
• 5Y*: -3.30%
• 10Y*: 3.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BIZD vs. GSBD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
GSBD Goldman Sachs BDC, Inc.	-0.26%	-8.81%	-6.24%	20.97%	-20.13%	10.85%	0.71%	26.36%	-9.44%	1.96%

Correlation

The correlation between BIZD and GSBD is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Mar 19, 2015	0.63

The correlation between BIZD and GSBD shifts across timeframes, from 0.63 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BIZD vs. GSBD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIZD

BIZD Risk / Return Rank: 3
BIZD Sharpe Ratio Rank: 3
BIZD Sortino Ratio Rank: 3
BIZD Omega Ratio Rank: 3
BIZD Calmar Ratio Rank: 4
BIZD Martin Ratio Rank: 4

GSBD

GSBD Risk / Return Rank: 25
GSBD Sharpe Ratio Rank: 25
GSBD Sortino Ratio Rank: 21
GSBD Omega Ratio Rank: 22
GSBD Calmar Ratio Rank: 27
GSBD Martin Ratio Rank: 29

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. GSBD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and Goldman Sachs BDC, Inc. (GSBD). 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	GSBD	Difference
Sharpe ratio Return per unit of total volatility	-0.72	-0.37	-0.35
Sortino ratio Return per unit of downside risk	-0.93	-0.39	-0.54
Omega ratio Gain probability vs. loss probability	0.90	0.95	-0.06
Calmar ratio Return relative to maximum drawdown	-0.58	-0.41	-0.18
Martin ratio Return relative to average drawdown	-1.03	-0.62	-0.41
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. GSBD - Sharpe Ratio Comparison

The current BIZD Sharpe Ratio is -0.72, which is lower than the GSBD Sharpe Ratio of -0.37. The chart below compares the historical Sharpe Ratios of BIZD and GSBD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BIZD	GSBD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.72	-0.37	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	-0.17	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.10	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.12	+0.18

Drawdowns

BIZD vs. GSBD - Drawdown Comparison

The maximum BIZD drawdown since its inception was -55.44%, smaller than the maximum GSBD drawdown of -62.67%. Use the drawdown chart below to compare losses from any high point for BIZD and GSBD.

Drawdown Indicators

	BIZD	GSBD	Difference
Max Drawdown Largest peak-to-trough decline	-55.44%	-62.67%	+7.23%
Max Drawdown (1Y) Largest decline over 1 year	-22.22%	-18.41%	-3.81%
Max Drawdown (3Y) Largest decline over 3 years	-22.56%	-29.59%	+7.03%
Max Drawdown (5Y) Largest decline over 5 years	-22.91%	-29.59%	+6.68%
Max Drawdown (10Y) Largest decline over 10 years	-55.44%	-62.67%	+7.23%
Current Drawdown Current decline from peak	-19.27%	-24.45%	+5.18%
Average Drawdown Average peak-to-trough decline	-6.72%	-11.70%	+4.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.63%	12.03%	+0.60%

Volatility

BIZD vs. GSBD - Volatility Comparison

The current volatility for VanEck BDC Income ETF (BIZD) is 4.79%, while Goldman Sachs BDC, Inc. (GSBD) has a volatility of 9.26%. This indicates that BIZD experiences smaller price fluctuations and is considered to be less risky than GSBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIZD	GSBD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.79%	9.26%	-4.47%
Volatility (6M) Calculated over the trailing 6-month period	14.77%	16.26%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	18.11%	20.16%	-2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	19.21%	-1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.74%	30.98%	-9.24%

Dividends

BIZD vs. GSBD - Dividend Comparison

BIZD's dividend yield for the trailing twelve months is around 13.87%, less than GSBD's 19.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GSBD Goldman Sachs BDC, Inc.	19.10%	20.26%	14.88%	12.29%	13.12%	10.18%	9.41%	8.46%	9.79%	8.12%	7.65%	9.47%

Frequently Asked Questions

Can I hold both BIZD and GSBD in my portfolio?

BIZD and GSBD have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIZD or GSBD?

GSBD has higher volatility (9.26%) compared to BIZD (4.79%). In terms of maximum drawdown, BIZD dropped -55.44% vs GSBD's -62.67%.

Which has better risk-adjusted returns?

GSBD currently has the higher Sharpe Ratio (-0.37 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.