CION vs. BIZD

Last updated Jul 14, 2026

CION (CION Investment Corporation) is a stock, while BIZD (VanEck BDC Income ETF) is Financials Equities fund tracking the MVIS US Business Development Companies Index. Over the past 3 years, CION returned -0.08%/yr vs 4.21%/yr for BIZD. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

CION vs. BIZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CION Investment Corporation (CION) and VanEck BDC Income ETF (BIZD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CION achieves a -23.03% return, which is significantly lower than BIZD's -6.86% return.

CION

• 1D: 0.16%
• 1M: -1.55%
• 6M: -22.46%
• YTD: -23.03%
• 1Y: -18.79%
• 3Y*: -0.08%
• 5Y*: —
• 10Y*: —

BIZD

• 1D: -0.64%
• 1M: 0.00%
• 6M: -7.77%
• YTD: -6.86%
• 1Y: -15.51%
• 3Y*: 4.21%
• 5Y*: 4.59%
• 10Y*: 7.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CION vs. BIZD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CION CION Investment Corporation	-23.03%	-2.26%	14.82%	35.42%	-14.80%	3.97%
BIZD VanEck BDC Income ETF	-6.86%	-4.96%	15.63%	27.02%	-8.51%	3.55%

Correlation

The correlation between CION and BIZD is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021	0.61

The correlation between CION and BIZD has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

Return for Risk

CION vs. BIZD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CION

CION Risk / Return Rank: 19
CION Sharpe Ratio Rank: 17
CION Sortino Ratio Rank: 18
CION Omega Ratio Rank: 18
CION Calmar Ratio Rank: 24
CION Martin Ratio Rank: 21

BIZD

BIZD Risk / Return Rank: 3
BIZD Sharpe Ratio Rank: 3
BIZD Sortino Ratio Rank: 3
BIZD Omega Ratio Rank: 3
BIZD Calmar Ratio Rank: 3
BIZD Martin Ratio Rank: 4

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.

CION vs. BIZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CION Investment Corporation (CION) and VanEck BDC Income ETF (BIZD). 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.

	CION	BIZD	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	-0.84	+0.20
Sortino ratio: Return per unit of downside risk	-0.75	-1.12	+0.37
Omega ratio: Gain probability vs. loss probability	0.91	0.88	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.56	-0.70	+0.14
Martin ratio: Return relative to average drawdown	-1.08	-1.12	+0.04

CION vs. BIZD - Sharpe Ratio Comparison

The current CION Sharpe Ratio is -0.63, which is comparable to the BIZD Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of CION and BIZD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CION vs. BIZD - Drawdown Comparison

The maximum CION drawdown since its inception was -45.39%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for CION and BIZD.

Drawdown Indicators

	CION	BIZD	Difference
Max Drawdown Largest peak-to-trough decline	-45.39%	-55.44%	+10.05%
Max Drawdown (1Y) Largest decline over 1 year	-33.39%	-22.22%	-11.17%
Max Drawdown (3Y) Largest decline over 3 years	-37.62%	-22.56%	-15.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-55.44%	—
Current Drawdown Current decline from peak	-31.66%	-17.39%	-14.27%
Average Drawdown Average peak-to-trough decline	-15.45%	-6.81%	-8.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.47%	13.91%	+3.56%

Volatility

CION vs. BIZD - Volatility Comparison

CION Investment Corporation (CION) has a higher volatility of 12.79% compared to VanEck BDC Income ETF (BIZD) at 4.90%. This indicates that CION's price experiences larger fluctuations and is considered to be riskier than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CION	BIZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.79%	4.90%	+7.89%
Volatility (6M) Calculated over the trailing 6-month period	25.34%	14.95%	+10.39%
Volatility (1Y) Calculated over the trailing 1-year period	29.89%	18.67%	+11.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.03%	17.48%	+12.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.03%	21.78%	+8.25%

Dividends

CION vs. BIZD - Dividend Comparison

CION's dividend yield for the trailing twelve months is around 27.91%, more than BIZD's 12.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIZD VanEck BDC Income ETF	12.22%	11.78%	10.94%	10.96%	11.21%	8.14%	10.39%	9.13%	10.88%	9.13%	8.51%	9.12%
CION CION Investment Corporation	27.91%	14.89%	13.33%	14.24%	14.87%	3.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CION and BIZD in my portfolio?

CION and BIZD have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CION or BIZD?

CION has higher volatility (12.79%) compared to BIZD (4.90%). In terms of maximum drawdown, CION dropped -45.39% vs BIZD's -55.44%.

Which has better risk-adjusted returns?

CION currently has the higher Sharpe Ratio (-0.63 vs -0.84), 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.