GLDI vs. BDCX
GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 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, GLDI returned 10.96%/yr vs 1.22%/yr for BDCX. At a 0.13 correlation, their price movements are largely independent. GLDI charges 0.65%/yr vs 0.95%/yr for BDCX.
Performance
GLDI vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, GLDI achieves a -4.45% return, which is significantly higher than BDCX's -13.68% return.
GLDI
- 1D
- -1.62%
- 1M
- -7.19%
- YTD
- -4.45%
- 6M
- -5.42%
- 1Y
- 11.67%
- 3Y*
- 17.47%
- 5Y*
- 10.96%
- 10Y*
- 7.83%
BDCX
- 1D
- 0.57%
- 1M
- -1.31%
- YTD
- -13.68%
- 6M
- -10.71%
- 1Y
- -17.92%
- 3Y*
- 3.31%
- 5Y*
- 1.22%
- 10Y*
- —
GLDI vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -4.45% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 8.20% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -13.68% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 25.40% |
Correlation
The correlation between GLDI and BDCX is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.13 |
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Return for Risk
GLDI vs. BDCX — Risk / Return Rank
GLDI
BDCX
GLDI vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) 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.
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.
| GLDI | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.91 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | -0.59 | +1.42 |
| Martin ratioReturn relative to average drawdown | 2.73 | -0.99 | +3.72 |
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Drawdowns
GLDI vs. BDCX - Drawdown Comparison
The maximum GLDI drawdown since its inception was -32.26%, smaller than the maximum BDCX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for GLDI and BDCX.
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Drawdown Indicators
| GLDI | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.26% | -34.96% | +2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -14.14% | -30.46% | +16.32% |
Max Drawdown (3Y)Largest decline over 3 years | -14.14% | -33.39% | +19.25% |
Max Drawdown (5Y)Largest decline over 5 years | -14.14% | -34.96% | +20.82% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | — | — |
Current DrawdownCurrent decline from peak | -13.28% | -29.85% | +16.57% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -10.21% | -3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 18.05% | -13.75% |
Volatility
GLDI vs. BDCX - Volatility Comparison
The current volatility for UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) is 7.18%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.40%. This indicates that GLDI 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
| GLDI | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.18% | 8.40% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 14.58% | 23.09% | -8.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 27.74% | -11.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.58% | 26.58% | -15.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.52% | 26.90% | -15.38% |
GLDI vs. BDCX - Expense Ratio Comparison
GLDI has a 0.65% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
GLDI vs. BDCX - Dividend Comparison
GLDI's dividend yield for the trailing twelve months is around 26.67%, more than BDCX's 20.73% 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 | 20.73% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 26.67% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
Frequently Asked Questions
GLDI and BDCX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (8.40%) compared to GLDI (7.18%). In terms of maximum drawdown, GLDI dropped -32.26% vs BDCX's -34.96%.
On 5-year performance, GLDI leads with 10.96% vs 1.22% for BDCX. On fees, GLDI is cheaper at 0.65% per year. On volatility, GLDI has been the lower-risk option at 7.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLDI has performed better with a 10.96% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 0.95% for BDCX.
GLDI has the higher dividend yield at 26.67%, compared with 20.73% for BDCX.
GLDI is categorized as Gold, while BDCX is Leveraged Equities. GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index, while BDCX tracks MVIS US Business Development Companies (150%). Their fees differ too: 0.65% for GLDI and 0.95% for BDCX.
GLDI currently has the higher Sharpe Ratio (0.73 vs -0.65), 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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