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BIZD vs. UGA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BIZD vs. UGA

Last updated Jun 4, 2026

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 7.77%/yr vs 14.43%/yr for UGA. At a 0.19 correlation, their price movements are largely independent. BIZD charges 0.42%/yr vs 0.75%/yr for UGA.

Performance

BIZD vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck BDC Income ETF (BIZD) and United States Gasoline Fund LP (UGA). 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 -8.99% return, which is significantly lower than UGA's 75.49% return. Over the past 10 years, BIZD has underperformed UGA with an annualized return of 7.77%, while UGA has yielded a comparatively higher 14.43% 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%

UGA

1D
-0.19%
1M
-12.35%
YTD
75.49%
6M
64.35%
1Y
80.94%
3Y*
22.21%
5Y*
25.10%
10Y*
14.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BIZD vs. UGA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
UGA
United States Gasoline Fund LP		75.49%-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 -0.11, 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

-0.11

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

0.02

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

0.12

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

0.15

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

0.19

The correlation between BIZD and UGA shifts across timeframes, from -0.11 (1 year) to 0.19 (all time), 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

United States Gasoline Fund LP

Often compared with BIZD:
BIZD vs. PBDCBIZD vs. ARCCBIZD vs. CEFSBIZD vs. PSPBIZD vs. PEXBIZD vs. PFLTBIZD vs. SCHD
Often compared with UGA:
UGA vs. URAUGA vs. FCGUGA vs. QQQUGA vs. VOOUGA vs. USOUGA vs. SPYUGA vs. FNGS

Return for Risk

BIZD vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BIZD
BIZD Risk / Return Rank: 33
Overall Rank
BIZD Sharpe Ratio Rank: 33
Sharpe Ratio Rank
BIZD Sortino Ratio Rank: 33
Sortino Ratio Rank
BIZD Omega Ratio Rank: 33
Omega Ratio Rank
BIZD Calmar Ratio Rank: 44
Calmar Ratio Rank
BIZD Martin Ratio Rank: 44
Martin Ratio Rank
UGA
UGA Risk / Return Rank: 6969
Overall Rank
UGA Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
UGA Sortino Ratio Rank: 5757
Sortino Ratio Rank
UGA Omega Ratio Rank: 6060
Omega Ratio Rank
UGA Calmar Ratio Rank: 8989
Calmar Ratio Rank
UGA Martin Ratio Rank: 7171
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. 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.

BIZDUGADifference

Sharpe ratio

Return per unit of total volatility

-0.72

2.32

-3.03

Sortino ratio

Return per unit of downside risk

-0.93

2.75

-3.68

Omega ratio

Gain probability vs. loss probability

0.90

1.37

-0.48

Calmar ratio

Return relative to maximum drawdown

-0.58

5.47

-6.05

Martin ratio

Return relative to average drawdown

-1.03

13.25

-14.27

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. UGA - Sharpe Ratio Comparison

The current BIZD Sharpe Ratio is -0.72, which is lower than the UGA Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of BIZD and UGA, 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

BIZDUGADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.72

2.32

-3.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.23

0.73

-0.50

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

0.12

+0.18

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

BIZDUGADifference

Max Drawdown

Largest peak-to-trough decline

-55.44%

-86.59%

+31.15%

Max Drawdown (1Y)

Largest decline over 1 year

-22.22%

-14.88%

-7.34%

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 Drawdown

Current decline from peak

-19.27%

-12.35%

-6.92%

Average Drawdown

Average peak-to-trough decline

-6.72%

-36.76%

+30.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.63%

6.13%

+6.50%

Volatility

BIZD vs. UGA - Volatility Comparison

The current volatility for VanEck BDC Income ETF (BIZD) is 4.79%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. 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

BIZDUGADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.79%

11.66%

-6.87%

Volatility (6M)

Calculated over the trailing 6-month period

14.77%

30.41%

-15.64%

Volatility (1Y)

Calculated over the trailing 1-year period

18.11%

35.14%

-17.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.40%

34.38%

-16.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.74%

37.27%

-15.53%

BIZD vs. UGA - Expense Ratio Comparison

BIZD has a 0.42% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

BIZD vs. UGA - Dividend Comparison

BIZD's dividend yield for the trailing twelve months is around 13.87%, while UGA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
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 -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UGA has higher volatility (11.66%) compared to BIZD (4.79%). In terms of maximum drawdown, BIZD dropped -55.44% vs UGA's -86.59%.

On 10-year performance, UGA leads with 14.43% vs 7.77% for BIZD. On fees, BIZD is cheaper at 0.42% per year. On volatility, BIZD has been the lower-risk option at 4.79%. 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 14.43% return vs 7.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BIZD is cheaper with a 0.42% expense ratio, compared with 0.75% for UGA.

BIZD has the higher dividend yield at 13.87%, 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: 0.42% for BIZD and 0.75% for UGA.

UGA currently has the higher Sharpe Ratio (2.32 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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