IBTG vs. BDCZ
IBTG (iShares iBonds Dec 2026 Term Treasury ETF) and BDCZ (ETRACS MVIS Business Development Companies Index ETN) are both exchange-traded funds - IBTG is a Government Bonds fund tracking the ICE 2026 Maturity US Treasury Index, while BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index. Both are passively managed. Over the past 5 years, IBTG returned 0.76%/yr vs 4.70%/yr for BDCZ. Their -0.06 correlation means they have often moved in opposite directions in the past. IBTG charges 0.07%/yr vs 0.85%/yr for BDCZ.
Performance
IBTG vs. BDCZ - Performance Comparison
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Returns By Period
In the year-to-date period, IBTG achieves a 2.08% return, which is significantly higher than BDCZ's -4.26% return.
IBTG
- 1D
- 0.06%
- 1M
- 0.34%
- 6M
- 1.80%
- YTD
- 2.08%
- 1Y
- 3.85%
- 3Y*
- 4.40%
- 5Y*
- 0.76%
- 10Y*
- —
- ALL TIME*
- 1.10%
BDCZ
- 1D
- 2.49%
- 1M
- 1.17%
- 6M
- -2.12%
- YTD
- -4.26%
- 1Y
- -8.40%
- 3Y*
- 3.18%
- 5Y*
- 4.70%
- 10Y*
- 6.56%
- ALL TIME*
- 6.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $28.17K | $28.06K | $20.18K | |
| $8.66M | $9.15M | $9.76M |
IBTG vs. BDCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 2.08% | 4.40% | 3.97% | 4.34% | -8.18% | -3.04% | 4.23% |
BDCZ ETRACS MVIS Business Development Companies Index ETN | -4.26% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | -5.22% |
Correlation
The correlation between IBTG and BDCZ is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020 | -0.06 |
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Return for Risk
IBTG vs. BDCZ — Risk / Return Rank
IBTG
BDCZ
IBTG vs. BDCZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Treasury ETF (IBTG) and ETRACS MVIS Business Development Companies Index ETN (BDCZ). 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.
| IBTG | BDCZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.83 | ||
| Sortino ratioReturn per unit of downside risk | +20.70 | ||
| Omega ratioGain probability vs. loss probability | 4.38 | 0.95 | +3.42 |
| Calmar ratioReturn relative to maximum drawdown | 59.17 | -0.50 | +59.67 |
| Martin ratioReturn relative to average drawdown | 264.06 | -0.90 | +264.95 |
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Drawdowns
IBTG vs. BDCZ - Drawdown Comparison
The maximum IBTG drawdown since its inception was -13.62%, smaller than the maximum BDCZ drawdown of -55.63%. Use the drawdown chart below to compare losses from any high point for IBTG and BDCZ.
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Drawdown Indicators
| IBTG | BDCZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.62% | -55.63% | +42.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -16.80% | +16.73% |
Max Drawdown (3Y)Largest decline over 3 years | -1.11% | -20.77% | +19.66% |
Max Drawdown (5Y)Largest decline over 5 years | -12.07% | -23.12% | +11.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.63% | — |
Current DrawdownCurrent decline from peak | 0.00% | -13.92% | +13.92% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -7.98% | +3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 9.38% | -9.37% |
Volatility
IBTG vs. BDCZ - Volatility Comparison
The current volatility for iShares iBonds Dec 2026 Term Treasury ETF (IBTG) is 0.11%, while ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a volatility of 6.41%. This indicates that IBTG experiences smaller price fluctuations and is considered to be less risky than BDCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTG | BDCZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.11% | 6.41% | -6.30% |
Volatility (6M)Calculated over the trailing 6-month period | 0.29% | 18.66% | -18.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.46% | 22.72% | -22.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.23% | 18.31% | -15.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.41% | 21.98% | -18.57% |
IBTG vs. BDCZ - Expense Ratio Comparison
IBTG has a 0.07% expense ratio, which is lower than BDCZ's 0.85% expense ratio.
Dividends
IBTG vs. BDCZ - Dividend Comparison
IBTG's dividend yield for the trailing twelve months is around 3.90%, less than BDCZ's 11.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 11.83% | 10.65% | 9.26% | 9.13% | 9.39% | 7.49% | 10.01% | 8.40% | 9.66% | 8.74% | 7.98% |
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 3.90% | 4.03% | 4.08% | 3.61% | 2.06% | 0.66% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBTG and BDCZ have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCZ has higher volatility (6.41%) compared to IBTG (0.11%). In terms of maximum drawdown, IBTG dropped -13.62% vs BDCZ's -55.63%.
On 5-year performance, BDCZ leads with 4.70% vs 0.76% for IBTG. On fees, IBTG is cheaper at 0.07% per year. On volatility, IBTG has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BDCZ has performed better with a 4.70% return vs 0.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTG is cheaper with a 0.07% expense ratio, compared with 0.85% for BDCZ.
BDCZ has the higher dividend yield at 11.83%, compared with 3.90% for IBTG.
IBTG is categorized as Government Bonds, while BDCZ is Financials Equities. IBTG tracks ICE 2026 Maturity US Treasury Index, while BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index. They also come from different issuers: iShares and UBS. Their fees differ too: 0.07% for IBTG and 0.85% for BDCZ.
IBTG currently has the higher Sharpe Ratio (8.46 vs -0.37), 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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