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BIZD vs. KRE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BIZD vs. KRE

Last updated Jun 24, 2026

BIZD (VanEck BDC Income ETF) and KRE (SPDR S&P Regional Banking ETF) are both Financials Equities funds - BIZD tracks the MVIS US Business Development Companies Index while KRE tracks the S&P Regional Banks Select Industry Index. Both are passively managed. Over the past 10 years, BIZD returned 7.56%/yr vs 9.59%/yr for KRE. A 0.54 correlation means they provide meaningful diversification when combined. BIZD charges 12.86%/yr vs 0.35%/yr for KRE.

Performance

BIZD vs. KRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck BDC Income ETF (BIZD) and SPDR S&P Regional Banking ETF (KRE). 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 KRE's 14.14% return. Over the past 10 years, BIZD has underperformed KRE with an annualized return of 7.56%, while KRE has yielded a comparatively higher 9.59% 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%

KRE

1D
1.57%
1M
6.02%
YTD
14.14%
6M
10.96%
1Y
29.42%
3Y*
26.19%
5Y*
4.63%
10Y*
9.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BIZD vs. KRE - 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%
KRE
SPDR S&P Regional Banking ETF		14.14%10.21%18.58%-7.61%-15.08%39.29%-7.43%27.44%-18.81%7.49%

Correlation

The correlation between BIZD and KRE is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.50

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

0.52

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

0.58

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

0.54

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2013

0.54

The correlation between BIZD and KRE has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.

BIZD vs. KRE - Sectors Allocation Comparison

Sectors
BIZD
KRE

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

BIZD
100.0%
KRE
100.0%

Basic Materials

BIZD

-

KRE

-

Communication Services

BIZD

-

KRE

-

Consumer Cyclical

BIZD

-

KRE

-

Consumer Defensive

BIZD

-

KRE

-

Energy

BIZD

-

KRE

-

Healthcare

BIZD

-

KRE

-

Industrials

BIZD

-

KRE

-

Real Estate

BIZD

-

KRE

-

Technology

BIZD

-

KRE

-

Utilities

BIZD

-

KRE

-

Compare stocks, funds, or ETFs

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VanEck BDC Income ETF

SPDR S&P Regional Banking ETF

Often compared with BIZD:
BIZD vs. PBDCBIZD vs. ARCCBIZD vs. CEFSBIZD vs. PSPBIZD vs. PEXBIZD vs. PFLTBIZD vs. SCHD
Often compared with KRE:
KRE vs. XLFKRE vs. KBEKRE vs. KBWBKRE vs. DPSTKRE vs. IATKRE vs. VFHKRE vs. VOO

Return for Risk

BIZD vs. KRE — 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
KRE
KRE Risk / Return Rank: 3737
Overall Rank
KRE Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
KRE Sortino Ratio Rank: 3636
Sortino Ratio Rank
KRE Omega Ratio Rank: 3838
Omega Ratio Rank
KRE Calmar Ratio Rank: 4141
Calmar Ratio Rank
KRE Martin Ratio Rank: 3535
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. KRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and SPDR S&P Regional Banking ETF (KRE). 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.

BIZDKREDifference
Sharpe ratioReturn per unit of total volatility
-0.69
1.27

-1.97

Sortino ratioReturn per unit of downside risk
-0.89
1.81

-2.70

Omega ratioGain probability vs. loss probability

0.90

1.24

-0.34

Calmar ratioReturn relative to maximum drawdown

-0.58

1.98

-2.55

Martin ratioReturn relative to average drawdown

-0.96

5.13

-6.09

BIZD vs. KRE - Sharpe Ratio Comparison

The current BIZD Sharpe Ratio is -0.69, which is lower than the KRE Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of BIZD and KRE, 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. KRE - Drawdown Comparison

The maximum BIZD drawdown since its inception was -55.44%, smaller than the maximum KRE drawdown of -68.54%. Use the drawdown chart below to compare losses from any high point for BIZD and KRE.

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Drawdown Indicators

BIZDKREDifference

Max Drawdown

Largest peak-to-trough decline

-55.44%

-68.54%

+13.10%

Max Drawdown (1Y)

Largest decline over 1 year

-22.22%

-14.95%

-7.27%

Max Drawdown (3Y)

Largest decline over 3 years

-22.56%

-28.20%

+5.64%

Max Drawdown (5Y)

Largest decline over 5 years

-22.91%

-52.69%

+29.78%

Max Drawdown (10Y)

Largest decline over 10 years

-55.44%

-54.92%

-0.52%

Current Drawdown

Current decline from peak

-20.05%

0.00%

-20.05%

Average Drawdown

Average peak-to-trough decline

-6.76%

-21.85%

+15.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.30%

5.75%

+7.55%

Volatility

BIZD vs. KRE - Volatility Comparison

The current volatility for VanEck BDC Income ETF (BIZD) is 5.60%, while SPDR S&P Regional Banking ETF (KRE) has a volatility of 6.34%. This indicates that BIZD experiences smaller price fluctuations and is considered to be less risky than KRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BIZDKREDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.60%

6.34%

-0.74%

Volatility (6M)

Calculated over the trailing 6-month period

15.19%

16.05%

-0.86%

Volatility (1Y)

Calculated over the trailing 1-year period

18.50%

23.33%

-4.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.44%

29.85%

-12.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.78%

31.85%

-10.07%

BIZD vs. KRE - Expense Ratio Comparison

BIZD has a 12.86% expense ratio, which is higher than KRE's 0.35% expense ratio.

Dividends

BIZD vs. KRE - Dividend Comparison

BIZD's dividend yield for the trailing twelve months is around 14.01%, more than KRE's 2.19% 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%
KRE
SPDR S&P Regional Banking ETF		2.19%2.45%2.59%2.99%2.51%1.97%2.78%2.21%2.48%1.40%1.40%1.80%

Frequently Asked Questions

BIZD and KRE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KRE has higher volatility (6.34%) compared to BIZD (5.60%). In terms of maximum drawdown, BIZD dropped -55.44% vs KRE's -68.54%.

On 10-year performance, KRE leads with 9.59% vs 7.56% for BIZD. On fees, KRE is cheaper at 0.35% 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, KRE has performed better with a 9.59% return vs 7.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KRE is cheaper with a 0.35% expense ratio, compared with 12.86% for BIZD.

BIZD has the higher dividend yield at 14.01%, compared with 2.19% for KRE.

BIZD tracks MVIS US Business Development Companies Index, while KRE tracks S&P Regional Banks Select Industry Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 12.86% for BIZD and 0.35% for KRE.

KRE currently has the higher Sharpe Ratio (1.27 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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