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BIZD vs. MUB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BIZD vs. MUB

Last updated Jun 9, 2026

BIZD (VanEck BDC Income ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both exchange-traded funds - BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index, while MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 10 years, BIZD returned 7.80%/yr vs 1.94%/yr for MUB. At a 0.00 correlation, their price movements are largely independent. BIZD charges 12.86%/yr vs 0.07%/yr for MUB.

Performance

BIZD vs. MUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck BDC Income ETF (BIZD) and iShares National AMT-Free Muni Bond ETF (MUB). 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 -8.77% return, which is significantly lower than MUB's 1.17% return. Over the past 10 years, BIZD has outperformed MUB with an annualized return of 7.80%, while MUB has yielded a comparatively lower 1.94% annualized return.

BIZD

1D
-0.32%
1M
-3.49%
YTD
-8.77%
6M
-11.00%
1Y
-13.11%
3Y*
4.91%
5Y*
3.86%
10Y*
7.80%

MUB

1D
-0.03%
1M
0.21%
YTD
1.17%
6M
1.69%
1Y
6.99%
3Y*
3.29%
5Y*
0.77%
10Y*
1.94%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BIZD vs. MUB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BIZD
VanEck BDC Income ETF		-8.77%-4.96%15.63%27.02%-8.51%36.25%-7.12%30.87%-6.88%0.36%
MUB
iShares National AMT-Free Muni Bond ETF		1.17%3.78%1.26%5.56%-7.34%1.02%5.12%7.06%0.93%4.72%

Correlation

The correlation between BIZD and MUB is 0.07, 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

0.07

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

0.12

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

0.11

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

0.05

Correlation (All Time)
Calculated using the full available price history since Feb 13, 2013

0.00

The correlation between BIZD and MUB shifts across timeframes, from 0.00 (all time) to 0.12 (3 years), reflecting how their relationship changes across market environments.

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

iShares National AMT-Free Muni Bond ETF

Often compared with BIZD:
BIZD vs. PBDCBIZD vs. ARCCBIZD vs. CEFSBIZD vs. PSPBIZD vs. PEXBIZD vs. PFLTBIZD vs. SCHD
Often compared with MUB:
MUB vs. VTEBMUB vs. SUBMUB vs. CMFMUB vs. NYFMUB vs. MUNIMUB vs. HYDMUB vs. VWIUX

Return for Risk

BIZD vs. MUB — 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: 44
Sortino Ratio Rank
BIZD Omega Ratio Rank: 44
Omega Ratio Rank
BIZD Calmar Ratio Rank: 44
Calmar Ratio Rank
BIZD Martin Ratio Rank: 55
Martin Ratio Rank
MUB
MUB Risk / Return Rank: 7474
Overall Rank
MUB Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
MUB Sortino Ratio Rank: 8686
Sortino Ratio Rank
MUB Omega Ratio Rank: 8989
Omega Ratio Rank
MUB Calmar Ratio Rank: 5656
Calmar Ratio Rank
MUB Martin Ratio Rank: 5656
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. MUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and iShares National AMT-Free Muni Bond ETF (MUB). 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.

BIZDMUBDifference
Sharpe ratioReturn per unit of total volatility
-0.72
2.42

-3.14

Sortino ratioReturn per unit of downside risk
-0.94
3.54

-4.48

Omega ratioGain probability vs. loss probability

0.90

1.51

-0.61

Calmar ratioReturn relative to maximum drawdown

-0.59

2.52

-3.11

Martin ratioReturn relative to average drawdown

-1.03

8.85

-9.88

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. MUB - Sharpe Ratio Comparison

The current BIZD Sharpe Ratio is -0.72, which is lower than the MUB Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of BIZD and MUB, 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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Sharpe Ratios by Period

BIZDMUBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.72

2.42

-3.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

0.19

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.36

0.39

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.58

-0.28

Drawdowns

BIZD vs. MUB - Drawdown Comparison

The maximum BIZD drawdown since its inception was -55.44%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for BIZD and MUB.

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Drawdown Indicators

BIZDMUBDifference

Max Drawdown

Largest peak-to-trough decline

-55.44%

-13.68%

-41.76%

Max Drawdown (1Y)

Largest decline over 1 year

-22.22%

-2.79%

-19.43%

Max Drawdown (3Y)

Largest decline over 3 years

-22.56%

-5.34%

-17.22%

Max Drawdown (5Y)

Largest decline over 5 years

-22.91%

-11.88%

-11.03%

Max Drawdown (10Y)

Largest decline over 10 years

-55.44%

-13.68%

-41.76%

Current Drawdown

Current decline from peak

-19.08%

-0.77%

-18.31%

Average Drawdown

Average peak-to-trough decline

-6.73%

-2.23%

-4.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.79%

0.79%

+12.00%

Volatility

BIZD vs. MUB - Volatility Comparison

VanEck BDC Income ETF (BIZD) has a higher volatility of 5.32% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.99%. This indicates that BIZD's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BIZDMUBDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.32%

0.99%

+4.33%

Volatility (6M)

Calculated over the trailing 6-month period

14.92%

2.23%

+12.69%

Volatility (1Y)

Calculated over the trailing 1-year period

18.31%

2.90%

+15.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.44%

4.06%

+13.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.76%

4.92%

+16.84%

BIZD vs. MUB - Expense Ratio Comparison

BIZD has a 12.86% expense ratio, which is higher than MUB's 0.07% expense ratio.

Dividends

BIZD vs. MUB - Dividend Comparison

BIZD's dividend yield for the trailing twelve months is around 13.84%, more than MUB's 3.18% yield.

PositionTTM20252024202320222021202020192018201720162015
BIZD
VanEck BDC Income ETF		13.84%11.78%10.94%10.96%11.21%8.14%10.39%9.13%10.88%9.13%8.51%9.12%
MUB
iShares National AMT-Free Muni Bond ETF		3.18%3.14%3.01%2.65%2.11%1.81%2.11%2.42%2.46%2.26%2.21%2.51%

Frequently Asked Questions

BIZD and MUB have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BIZD has higher volatility (5.32%) compared to MUB (0.99%). In terms of maximum drawdown, BIZD dropped -55.44% vs MUB's -13.68%.

On 10-year performance, BIZD leads with 7.80% vs 1.94% for MUB. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, BIZD has performed better with a 7.80% return vs 1.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MUB is cheaper with a 0.07% expense ratio, compared with 12.86% for BIZD.

BIZD has the higher dividend yield at 13.84%, compared with 3.18% for MUB.

BIZD is categorized as Financials Equities, while MUB is Municipal Bonds. BIZD tracks MVIS US Business Development Companies Index, while MUB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 12.86% for BIZD and 0.07% for MUB.

MUB currently has the higher Sharpe Ratio (2.42 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.

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