MLN vs. BIZD
MLN (VanEck Long Muni ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - MLN is a Municipal Bonds fund tracking the Bloomberg AMT-Free Long 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, MLN returned 1.23%/yr vs 7.22%/yr for BIZD. Their -0.00 correlation means they have often moved in opposite directions in the past. MLN charges 0.24%/yr vs 12.86%/yr for BIZD.
Performance
MLN vs. BIZD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MLN achieves a 1.01% return, which is significantly higher than BIZD's -7.38% return. Over the past 10 years, MLN has underperformed BIZD with an annualized return of 1.23%, while BIZD has yielded a comparatively higher 7.22% annualized return.
MLN
- 1D
- -0.26%
- 1M
- -2.20%
- 6M
- 0.87%
- YTD
- 1.01%
- 1Y
- 7.33%
- 3Y*
- 2.80%
- 5Y*
- -1.42%
- 10Y*
- 1.23%
- ALL TIME*
- 2.84%
BIZD
- 1D
- -0.16%
- 1M
- -0.88%
- 6M
- -6.19%
- YTD
- -7.38%
- 1Y
- -13.09%
- 3Y*
- 3.10%
- 5Y*
- 4.58%
- 10Y*
- 7.22%
- ALL TIME*
- 6.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.52M | $40.73M | $41.70M | |
| $2.96M | $2.78M | $3.87M |
MLN vs. BIZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLN VanEck Long Muni ETF | 1.01% | 1.82% | 1.54% | 8.05% | -17.20% | 2.20% | 6.22% | 10.72% | -0.77% | 8.19% |
BIZD VanEck BDC Income ETF | -7.38% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | 30.87% | -6.88% | 0.36% |
Correlation
The correlation between MLN and BIZD is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | -0.00 |
The correlation between MLN and BIZD shifts across timeframes, from -0.00 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MLN vs. BIZD — Risk / Return Rank
MLN
BIZD
MLN vs. BIZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Long Muni ETF (MLN) 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.
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.
| MLN | BIZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.70 | ||
| Sortino ratioReturn per unit of downside risk | +3.85 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.89 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | -0.75 | +4.10 |
| Martin ratioReturn relative to average drawdown | 10.75 | -1.27 | +12.02 |
Loading charts...
Drawdowns
MLN vs. BIZD - Drawdown Comparison
The maximum MLN drawdown since its inception was -28.36%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for MLN and BIZD.
Loading charts...
Drawdown Indicators
| MLN | BIZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.36% | -55.44% | +27.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.56% | -18.99% | +16.43% |
Max Drawdown (3Y)Largest decline over 3 years | -8.73% | -22.56% | +13.83% |
Max Drawdown (5Y)Largest decline over 5 years | -24.12% | -22.91% | -1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | -55.44% | +30.98% |
Current DrawdownCurrent decline from peak | -7.42% | -17.85% | +10.43% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -6.85% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 11.35% | -10.55% |
Volatility
MLN vs. BIZD - Volatility Comparison
The current volatility for VanEck Long Muni ETF (MLN) is 1.28%, while VanEck BDC Income ETF (BIZD) has a volatility of 4.68%. This indicates that MLN 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.
Loading charts...
Volatility by Period
| MLN | BIZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 4.68% | -3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 15.09% | -11.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 18.80% | -14.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.34% | 17.51% | -10.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.88% | 21.81% | -12.93% |
MLN vs. BIZD - Expense Ratio Comparison
MLN has a 0.24% expense ratio, which is lower than BIZD's 12.86% expense ratio.
Dividends
MLN vs. BIZD - Dividend Comparison
MLN's dividend yield for the trailing twelve months is around 3.85%, less than BIZD's 12.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 12.29% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
MLN VanEck Long Muni ETF | 3.53% | 3.73% | 3.59% | 3.19% | 2.67% | 2.52% | 2.69% | 2.98% | 3.09% | 2.91% | 3.16% | 3.38% |
Frequently Asked Questions
MLN and BIZD have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIZD has higher volatility (4.68%) compared to MLN (1.28%). In terms of maximum drawdown, MLN dropped -28.36% vs BIZD's -55.44%.
On 10-year performance, BIZD leads with 7.22% vs 1.23% for MLN. On fees, MLN is cheaper at 0.24% per year. On volatility, MLN has been the lower-risk option at 1.28%. 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 7.22% return vs 1.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MLN is cheaper with a 0.24% expense ratio, compared with 12.86% for BIZD.
BIZD has the higher dividend yield at 12.29%, compared with 3.53% for MLN.
MLN is categorized as Municipal Bonds, while BIZD is Financials Equities. MLN tracks Bloomberg AMT-Free Long Continuous, while BIZD tracks MVIS US Business Development Companies Index. Their fees differ too: 0.24% for MLN and 12.86% for BIZD.
MLN currently has the higher Sharpe Ratio (1.94 vs -0.76), 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.
Find the right allocation for MLN and BIZD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer