FBGX vs. BDCX

Last updated Jun 3, 2026

FBGX (UBS AG FI Enhanced Large Cap Growth ETN) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both Leveraged Equities funds from UBS - FBGX tracks the Russell 1000 Growth Index (200%) while BDCX tracks the MVIS US Business Development Companies (150%). Both are passively managed. At a 0.36 correlation, their price movements are largely independent. FBGX charges 1.29%/yr vs 0.95%/yr for BDCX.

Performance

FBGX vs. BDCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FBGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDCX

• 1D: -0.27%
• 1M: -7.16%
• YTD: -8.64%
• 6M: -8.85%
• 1Y: -13.87%
• 3Y*: 4.83%
• 5Y*: 2.33%
• 10Y*: —

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

FBGX vs. BDCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	35.73%	83.74%	-56.41%	57.04%	59.99%
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	-8.64%	-10.42%	15.32%	35.33%	-17.67%	52.70%	24.50%

Correlation

The correlation between FBGX and BDCX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.14
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	0.36

The correlation between FBGX and BDCX shifts across timeframes, from 0.14 (3 years) to 0.38 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FBGX vs. BDCX — Risk / Return Rank

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

BDCX

BDCX Risk / Return Rank: 4
BDCX Sharpe Ratio Rank: 4
BDCX Sortino Ratio Rank: 4
BDCX Omega Ratio Rank: 4
BDCX Calmar Ratio Rank: 4
BDCX 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.

FBGX vs. BDCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS AG FI Enhanced Large Cap Growth ETN (FBGX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FBGX	BDCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.52	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.46	—

Drawdowns

Drawdown Indicators

	FBGX	BDCX	Difference
Max Drawdown Largest peak-to-trough decline	—	-34.96%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-30.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-33.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.96%	—
Current Drawdown Current decline from peak	—	-25.75%	—
Average Drawdown Average peak-to-trough decline	—	-10.05%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.06%	—

Volatility

Volatility by Period

	FBGX	BDCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.90%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	26.44%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	26.85%	—

FBGX vs. BDCX - Expense Ratio Comparison

FBGX has a 1.29% expense ratio, which is higher than BDCX's 0.95% expense ratio.

Dividends

FBGX vs. BDCX - Dividend Comparison

FBGX has not paid dividends to shareholders, while BDCX's dividend yield for the trailing twelve months is around 19.59%.

Position	TTM	2025	2024	2023	2022	2021	2020
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	19.59%	19.17%	15.28%	14.71%	17.47%	11.52%	6.32%
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBGX and BDCX in my portfolio?

FBGX and BDCX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBGX or BDCX?

On fees, BDCX is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBGX or BDCX?

BDCX is cheaper with a 0.95% expense ratio, compared with 1.29% for FBGX.

Which ETF pays a higher dividend yield, FBGX or BDCX?

BDCX has the higher dividend yield at 19.59%, compared with 0.00% for FBGX.

What is the main difference between FBGX and BDCX?

FBGX tracks Russell 1000 Growth Index (200%), while BDCX tracks MVIS US Business Development Companies (150%). Their fees differ too: 1.29% for FBGX and 0.95% for BDCX.