BIZD vs. PFLT
BIZD (VanEck BDC Income ETF) is Financials Equities fund tracking the MVIS US Business Development Companies Index, while PFLT (PennantPark Floating Rate Capital Ltd.) is a stock. Over the past 10 years, BIZD returned 7.22%/yr vs 4.35%/yr for PFLT. Their 0.61 correlation means they have sometimes moved together and sometimes differently.
Performance
BIZD vs. PFLT - Performance Comparison
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Returns By Period
In the year-to-date period, BIZD achieves a -7.38% return, which is significantly higher than PFLT's -18.83% return. Over the past 10 years, BIZD has outperformed PFLT with an annualized return of 7.22%, while PFLT has yielded a comparatively lower 4.35% annualized return.
BIZD
- 1D
- -0.16%
- 1M
- -0.88%
- 6M
- -6.19%
- YTD
- -7.38%
- 1Y
- -13.09%
- 3Y*
- 3.10%
- 5Y*
- 4.58%
- 10Y*
- 7.22%
- ALL TIME*
- 6.12%
PFLT
- 1D
- -1.00%
- 1M
- -6.17%
- 6M
- -21.14%
- YTD
- -18.83%
- 1Y
- -23.65%
- 3Y*
- -4.27%
- 5Y*
- -1.47%
- 10Y*
- 4.35%
- ALL TIME*
- 4.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.52M | $40.73M | $41.70M | |
| $8.63M | $9.40M | $9.33M |
BIZD vs. PFLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | -7.38% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | 30.87% | -6.88% | 0.36% |
PFLT PennantPark Floating Rate Capital Ltd. | -18.83% | -4.17% | 0.62% | 23.05% | -5.53% | 32.64% | -1.41% | 15.52% | -8.29% | 5.49% |
Correlation
The correlation between BIZD and PFLT is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.61 |
Over the past year, BIZD and PFLT have become more correlated (0.81) than their long-term average of 0.61, meaning their price movements have been converging.
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Return for Risk
BIZD vs. PFLT — Risk / Return Rank
BIZD
PFLT
BIZD vs. PFLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and PennantPark Floating Rate Capital Ltd. (PFLT). 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 | PFLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.83 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.96 | +0.21 |
| Martin ratioReturn relative to average drawdown | -1.27 | -1.97 | +0.70 |
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Drawdowns
BIZD vs. PFLT - Drawdown Comparison
The maximum BIZD drawdown since its inception was -55.44%, smaller than the maximum PFLT drawdown of -69.77%. Use the drawdown chart below to compare losses from any high point for BIZD and PFLT.
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Drawdown Indicators
| BIZD | PFLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.44% | -69.77% | +14.33% |
Max Drawdown (1Y)Largest decline over 1 year | -18.99% | -25.25% | +6.26% |
Max Drawdown (3Y)Largest decline over 3 years | -22.56% | -28.44% | +5.88% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -29.64% | +6.73% |
Max Drawdown (10Y)Largest decline over 10 years | -55.44% | -69.77% | +14.33% |
Current DrawdownCurrent decline from peak | -17.85% | -27.61% | +9.76% |
Average DrawdownAverage peak-to-trough decline | -6.85% | -8.46% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.35% | 12.29% | -0.94% |
Volatility
BIZD vs. PFLT - Volatility Comparison
The current volatility for VanEck BDC Income ETF (BIZD) is 4.68%, while PennantPark Floating Rate Capital Ltd. (PFLT) has a volatility of 6.65%. This indicates that BIZD experiences smaller price fluctuations and is considered to be less risky than PFLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIZD | PFLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 6.65% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 15.09% | 18.40% | -3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 22.03% | -3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.51% | 21.45% | -3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.81% | 29.09% | -7.28% |
Dividends
BIZD vs. PFLT - Dividend Comparison
BIZD's dividend yield for the trailing twelve months is around 12.29%, less than PFLT's 17.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 12.29% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
PFLT PennantPark Floating Rate Capital Ltd. | 17.12% | 13.27% | 11.25% | 9.98% | 10.38% | 8.93% | 10.83% | 9.24% | 9.59% | 8.31% | 8.08% | 10.04% |
Frequently Asked Questions
BIZD and PFLT have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFLT has higher volatility (6.65%) compared to BIZD (4.68%). In terms of maximum drawdown, BIZD dropped -55.44% vs PFLT's -69.77%.
BIZD currently has the higher Sharpe Ratio (-0.76 vs -1.10), 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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