FLOT vs. BDCX
FLOT (iShares Floating Rate Bond ETF) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years 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, FLOT returned 4.20%/yr vs 1.22%/yr for BDCX. At a 0.18 correlation, their price movements are largely independent. FLOT charges 0.15%/yr vs 0.95%/yr for BDCX.
Performance
FLOT vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, FLOT achieves a 1.87% return, which is significantly higher than BDCX's -11.90% return.
FLOT
- 1D
- 0.00%
- 1M
- 0.41%
- YTD
- 1.87%
- 6M
- 2.15%
- 1Y
- 4.85%
- 3Y*
- 5.60%
- 5Y*
- 4.20%
- 10Y*
- 3.03%
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
FLOT vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 1.87% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 1.35% |
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 FLOT and BDCX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.18 |
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Return for Risk
FLOT vs. BDCX — Risk / Return Rank
FLOT
BDCX
FLOT vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Bond ETF (FLOT) 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.
| FLOT | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.20 | ||
| Sortino ratioReturn per unit of downside risk | +12.62 | ||
| Omega ratioGain probability vs. loss probability | 3.22 | 0.91 | +2.31 |
| Calmar ratioReturn relative to maximum drawdown | 11.27 | -0.59 | +11.87 |
| Martin ratioReturn relative to average drawdown | 104.83 | -1.04 | +105.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLOT | BDCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.54 | -0.66 | +7.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.38 | 0.05 | +2.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.43 | +0.23 |
Drawdowns
FLOT vs. BDCX - Drawdown Comparison
The maximum FLOT drawdown since its inception was -13.54%, smaller than the maximum BDCX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FLOT and BDCX.
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Drawdown Indicators
| FLOT | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.54% | -34.96% | +21.42% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -30.46% | +30.03% |
Max Drawdown (3Y)Largest decline over 3 years | -1.57% | -33.39% | +31.82% |
Max Drawdown (5Y)Largest decline over 5 years | -2.36% | -34.96% | +32.60% |
Max Drawdown (10Y)Largest decline over 10 years | -13.54% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -28.40% | +28.38% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -10.10% | +9.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 17.35% | -17.30% |
Volatility
FLOT vs. BDCX - Volatility Comparison
The current volatility for iShares Floating Rate Bond ETF (FLOT) is 0.20%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.65%. This indicates that FLOT 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
| FLOT | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 8.65% | -8.45% |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | 22.81% | -22.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.75% | 27.60% | -26.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.77% | 26.59% | -24.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 26.94% | -22.79% |
FLOT vs. BDCX - Expense Ratio Comparison
FLOT has a 0.15% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
FLOT vs. BDCX - Dividend Comparison
FLOT's dividend yield for the trailing twelve months is around 4.54%, less than BDCX's 20.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FLOT iShares Floating Rate Bond ETF | 4.54% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
Frequently Asked Questions
FLOT and BDCX have a correlation of 0.22, 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 FLOT (0.20%). In terms of maximum drawdown, FLOT dropped -13.54% vs BDCX's -34.96%.
On 5-year performance, FLOT leads with 4.20% vs 1.22% for BDCX. On fees, FLOT is cheaper at 0.15% per year. On volatility, FLOT has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLOT has performed better with a 4.20% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.31%, compared with 4.54% for FLOT.
FLOT is categorized as Ultrashort Bond, while BDCX is Leveraged Equities. FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index, while BDCX tracks MVIS US Business Development Companies (150%). They also come from different issuers: iShares and UBS. Their fees differ too: 0.15% for FLOT and 0.95% for BDCX.
FLOT currently has the higher Sharpe Ratio (6.54 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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