BIZD vs. UGA
BIZD (VanEck BDC Income ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, BIZD returned 7.56%/yr vs 14.31%/yr for UGA. At a 0.18 correlation, their price movements are largely independent. BIZD charges 12.86%/yr vs 0.75%/yr for UGA.
Performance
BIZD vs. UGA - 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 UGA's 64.09% return. Over the past 10 years, BIZD has underperformed UGA with an annualized return of 7.56%, while UGA has yielded a comparatively higher 14.31% 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%
UGA
- 1D
- -1.12%
- 1M
- -12.11%
- YTD
- 64.09%
- 6M
- 60.42%
- 1Y
- 59.74%
- 3Y*
- 18.95%
- 5Y*
- 22.69%
- 10Y*
- 14.31%
BIZD vs. UGA - 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% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between BIZD and UGA is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.18 |
The correlation between BIZD and UGA shifts across timeframes, from -0.12 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BIZD vs. UGA — Risk / Return Rank
BIZD
UGA
BIZD vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) and United States Gasoline Fund LP (UGA). 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 | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -3.14 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.30 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 3.17 | -3.74 |
| Martin ratioReturn relative to average drawdown | -0.96 | 9.39 | -10.35 |
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Drawdowns
BIZD vs. UGA - Drawdown Comparison
The maximum BIZD drawdown since its inception was -55.44%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BIZD and UGA.
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Drawdown Indicators
| BIZD | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.44% | -86.59% | +31.15% |
Max Drawdown (1Y)Largest decline over 1 year | -22.22% | -18.96% | -3.26% |
Max Drawdown (3Y)Largest decline over 3 years | -22.56% | -26.68% | +4.12% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -38.11% | +15.20% |
Max Drawdown (10Y)Largest decline over 10 years | -55.44% | -75.89% | +20.45% |
Current DrawdownCurrent decline from peak | -20.05% | -18.05% | -2.00% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -36.69% | +29.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.30% | 6.43% | +6.87% |
Volatility
BIZD vs. UGA - Volatility Comparison
The current volatility for VanEck BDC Income ETF (BIZD) is 5.60%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that BIZD experiences smaller price fluctuations and is considered to be less risky than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIZD | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 9.24% | -3.64% |
Volatility (6M)Calculated over the trailing 6-month period | 15.19% | 30.57% | -15.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.50% | 35.22% | -16.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.44% | 34.45% | -17.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.78% | 37.22% | -15.44% |
BIZD vs. UGA - Expense Ratio Comparison
BIZD has a 12.86% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
BIZD vs. UGA - Dividend Comparison
BIZD's dividend yield for the trailing twelve months is around 14.01%, while UGA 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% |
UGA United States Gasoline Fund LP | 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 UGA have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to BIZD (5.60%). In terms of maximum drawdown, BIZD dropped -55.44% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 7.56% for BIZD. On fees, UGA is cheaper at 0.75% 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, UGA has performed better with a 14.31% return vs 7.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 0.75% expense ratio, compared with 12.86% for BIZD.
BIZD has the higher dividend yield at 14.01%, compared with 0.00% for UGA.
BIZD is categorized as Financials Equities, while UGA is Oil & Gas. BIZD tracks MVIS US Business Development Companies Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: VanEck and Concierge Technologies. Their fees differ too: 12.86% for BIZD and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 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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