ITM vs. BIZD
ITM (VanEck Intermediate Muni ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - ITM is a Municipal Bonds fund tracking the Bloomberg AMT-Free Intermediate Continuous, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. Both are passively managed. Over the past 10 years, ITM returned 1.95%/yr vs 7.77%/yr for BIZD. At a correlation of -0.02, they often move in opposite directions. ITM charges 0.24%/yr vs 0.42%/yr for BIZD.
Performance
ITM vs. BIZD - Performance Comparison
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Returns By Period
In the year-to-date period, ITM achieves a 0.61% return, which is significantly higher than BIZD's -8.99% return. Over the past 10 years, ITM has underperformed BIZD with an annualized return of 1.95%, while BIZD has yielded a comparatively higher 7.77% annualized return.
ITM
- 1D
- -0.09%
- 1M
- 0.79%
- YTD
- 0.61%
- 6M
- 1.22%
- 1Y
- 7.29%
- 3Y*
- 3.70%
- 5Y*
- 0.44%
- 10Y*
- 1.95%
BIZD
- 1D
- -2.28%
- 1M
- -6.62%
- YTD
- -8.99%
- 6M
- -10.20%
- 1Y
- -12.94%
- 3Y*
- 5.27%
- 5Y*
- 4.03%
- 10Y*
- 7.77%
ITM vs. BIZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITM VanEck Intermediate Muni ETF | 0.61% | 5.34% | 0.73% | 5.69% | -9.33% | 0.21% | 5.87% | 8.46% | 0.96% | 6.13% |
BIZD VanEck BDC Income ETF | -8.99% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | 30.87% | -6.88% | 0.36% |
Correlation
The correlation between ITM and BIZD is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2013 | -0.02 |
The correlation between ITM and BIZD shifts across timeframes, from -0.02 (all time) to 0.08 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ITM vs. BIZD — Risk / Return Rank
ITM
BIZD
ITM vs. BIZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Intermediate Muni ETF (ITM) and VanEck BDC Income ETF (BIZD). 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.
| ITM | BIZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.30 | ||
| Sortino ratioReturn per unit of downside risk | +4.67 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 0.90 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | -0.58 | +2.72 |
| Martin ratioReturn relative to average drawdown | 6.84 | -1.03 | +7.87 |
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
| ITM | BIZD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | -0.72 | +3.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.23 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.36 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.30 | +0.13 |
Drawdowns
ITM vs. BIZD - Drawdown Comparison
The maximum ITM drawdown since its inception was -24.75%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for ITM and BIZD.
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Drawdown Indicators
| ITM | BIZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -55.44% | +30.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -22.22% | +18.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -22.56% | +16.88% |
Max Drawdown (5Y)Largest decline over 5 years | -15.11% | -22.91% | +7.80% |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | -55.44% | +30.69% |
Current DrawdownCurrent decline from peak | -1.33% | -19.27% | +17.94% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -6.72% | +3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 12.63% | -11.56% |
Volatility
ITM vs. BIZD - Volatility Comparison
The current volatility for VanEck Intermediate Muni ETF (ITM) is 1.01%, while VanEck BDC Income ETF (BIZD) has a volatility of 4.79%. This indicates that ITM experiences smaller price fluctuations and is considered to be less risky than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITM | BIZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 4.79% | -3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.18% | 14.77% | -12.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 18.11% | -15.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 17.40% | -13.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 21.74% | -14.64% |
ITM vs. BIZD - Expense Ratio Comparison
ITM has a 0.24% expense ratio, which is lower than BIZD's 0.42% expense ratio.
Dividends
ITM vs. BIZD - Dividend Comparison
ITM's dividend yield for the trailing twelve months is around 2.93%, less than BIZD's 13.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 13.87% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
ITM VanEck Intermediate Muni ETF | 2.93% | 2.86% | 2.73% | 2.40% | 1.92% | 1.70% | 2.13% | 2.44% | 2.33% | 2.21% | 2.29% | 2.28% |
Frequently Asked Questions
ITM and BIZD have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIZD has higher volatility (4.79%) compared to ITM (1.01%). In terms of maximum drawdown, ITM dropped -24.75% vs BIZD's -55.44%.
On 10-year performance, BIZD leads with 7.77% vs 1.95% for ITM. On fees, ITM is cheaper at 0.24% per year. On volatility, ITM has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BIZD has performed better with a 7.77% return vs 1.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITM is cheaper with a 0.24% expense ratio, compared with 0.42% for BIZD.
BIZD has the higher dividend yield at 13.87%, compared with 2.93% for ITM.
ITM is categorized as Municipal Bonds, while BIZD is Financials Equities. ITM tracks Bloomberg AMT-Free Intermediate Continuous, while BIZD tracks MVIS US Business Development Companies Index. Their fees differ too: 0.24% for ITM and 0.42% for BIZD.
ITM currently has the higher Sharpe Ratio (2.58 vs -0.72), 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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