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EUHY vs. BDCX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUHY vs. BDCX

Last updated Jun 9, 2026

EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - EUHY is a High Yield Bonds fund tracking the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%). Both are passively managed. Over the past 5 years, EUHY returned 1.82%/yr vs 1.22%/yr for BDCX. At a 0.38 correlation, their price movements are largely independent. EUHY charges 0.35%/yr vs 0.95%/yr for BDCX.

Performance

EUHY vs. BDCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) and ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUHY achieves a 1.70% return, which is significantly higher than BDCX's -11.90% return.

EUHY

1D
-0.12%
1M
0.05%
YTD
1.70%
6M
2.27%
1Y
5.47%
3Y*
9.44%
5Y*
1.82%
10Y*
3.68%

BDCX

1D
-0.44%
1M
-5.50%
YTD
-11.90%
6M
-14.62%
1Y
-18.01%
3Y*
2.98%
5Y*
1.22%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUHY vs. BDCX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
EUHY
iShares Euro High Yield Corporate Bond USD Hedged ETF		1.70%17.41%-0.55%16.06%-15.59%-3.78%15.22%
BDCX
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN		-11.90%-10.42%15.32%35.33%-17.67%52.70%24.50%

Correlation

The correlation between EUHY and BDCX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.26

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

0.28

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

0.38

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2020

0.38

The correlation between EUHY and BDCX shifts across timeframes, from 0.26 (1 year) to 0.38 (5 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.

iShares Euro High Yield Corporate Bond USD Hedged ETF

ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN

Often compared with EUHY:
EUHY vs. XHYHEUHY vs. LDRHEUHY vs. USHYEUHY vs. IBHDEUHY vs. SGOVEUHY vs. IWMEUHY vs. THY
Often compared with BDCX:
BDCX vs. USMLBDCX vs. AMNDBDCX vs. CEFDBDCX vs. JEPIBDCX vs. MVRLBDCX vs. MLPRBDCX vs. AMNA

Return for Risk

EUHY vs. BDCX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EUHY
EUHY Risk / Return Rank: 3131
Overall Rank
EUHY Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
EUHY Sortino Ratio Rank: 2929
Sortino Ratio Rank
EUHY Omega Ratio Rank: 3131
Omega Ratio Rank
EUHY Calmar Ratio Rank: 3535
Calmar Ratio Rank
EUHY Martin Ratio Rank: 2929
Martin Ratio Rank
BDCX
BDCX Risk / Return Rank: 44
Overall Rank
BDCX Sharpe Ratio Rank: 44
Sharpe Ratio Rank
BDCX Sortino Ratio Rank: 44
Sortino Ratio Rank
BDCX Omega Ratio Rank: 44
Omega Ratio Rank
BDCX Calmar Ratio Rank: 44
Calmar Ratio Rank
BDCX Martin Ratio Rank: 55
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.

EUHY vs. BDCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) and ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX). 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.

EUHYBDCXDifference
Sharpe ratioReturn per unit of total volatility
1.00
-0.66

+1.66

Sortino ratioReturn per unit of downside risk
1.45
-0.83

+2.28

Omega ratioGain probability vs. loss probability

1.19

0.91

+0.28

Calmar ratioReturn relative to maximum drawdown

1.57

-0.59

+2.16

Martin ratioReturn relative to average drawdown

3.75

-1.04

+4.79

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUHY vs. BDCX - Sharpe Ratio Comparison

The current EUHY Sharpe Ratio is 1.00, which is higher than the BDCX Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of EUHY and BDCX, 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

EUHYBDCXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.00

-0.66

+1.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

0.05

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.43

-0.09

Drawdowns

EUHY vs. BDCX - Drawdown Comparison

The maximum EUHY drawdown since its inception was -32.45%, smaller than the maximum BDCX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for EUHY and BDCX.

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Drawdown Indicators

EUHYBDCXDifference

Max Drawdown

Largest peak-to-trough decline

-32.45%

-34.96%

+2.51%

Max Drawdown (1Y)

Largest decline over 1 year

-3.50%

-30.46%

+26.96%

Max Drawdown (3Y)

Largest decline over 3 years

-8.23%

-33.39%

+25.16%

Max Drawdown (5Y)

Largest decline over 5 years

-32.45%

-34.96%

+2.51%

Max Drawdown (10Y)

Largest decline over 10 years

-32.45%

—

—

Current Drawdown

Current decline from peak

-0.38%

-28.40%

+28.02%

Average Drawdown

Average peak-to-trough decline

-8.58%

-10.10%

+1.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.46%

17.35%

-15.89%

Volatility

EUHY vs. BDCX - Volatility Comparison

The current volatility for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) is 1.03%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.65%. This indicates that EUHY experiences smaller price fluctuations and is considered to be less risky than BDCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EUHYBDCXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.03%

8.65%

-7.62%

Volatility (6M)

Calculated over the trailing 6-month period

2.89%

22.81%

-19.92%

Volatility (1Y)

Calculated over the trailing 1-year period

5.51%

27.60%

-22.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.00%

26.59%

-16.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.42%

26.94%

-16.52%

EUHY vs. BDCX - Expense Ratio Comparison

EUHY has a 0.35% expense ratio, which is lower than BDCX's 0.95% expense ratio.

Dividends

EUHY vs. BDCX - Dividend Comparison

EUHY's dividend yield for the trailing twelve months is around 5.35%, less than BDCX's 20.31% yield.

PositionTTM20252024202320222021202020192018201720162015
BDCX
ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN		20.31%19.17%15.28%14.71%17.47%11.52%6.32%0.00%0.00%0.00%0.00%0.00%
EUHY
iShares Euro High Yield Corporate Bond USD Hedged ETF		5.35%3.56%5.11%3.38%0.61%3.07%1.45%1.19%4.01%0.69%1.70%3.24%

Frequently Asked Questions

EUHY and BDCX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BDCX has higher volatility (8.65%) compared to EUHY (1.03%). In terms of maximum drawdown, EUHY dropped -32.45% vs BDCX's -34.96%.

On 5-year performance, EUHY leads with 1.82% vs 1.22% for BDCX. On fees, EUHY is cheaper at 0.35% per year. On volatility, EUHY has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EUHY has performed better with a 1.82% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EUHY is cheaper with a 0.35% expense ratio, compared with 0.95% for BDCX.

BDCX has the higher dividend yield at 20.31%, compared with 5.35% for EUHY.

EUHY is categorized as High Yield Bonds, while BDCX is Leveraged Equities. EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while BDCX tracks MVIS US Business Development Companies (150%). They also come from different issuers: iShares and UBS. Their fees differ too: 0.35% for EUHY and 0.95% for BDCX.

EUHY currently has the higher Sharpe Ratio (1.00 vs -0.66), 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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