MLPB vs. BDCZ

Last updated Jun 4, 2026

MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and BDCZ (ETRACS MVIS Business Development Companies Index ETN) are both exchange-traded funds - MLPB is a MLPs fund tracking the Alerian MLP Infrastructure 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 10 years, MLPB returned 10.20%/yr vs 6.23%/yr for BDCZ. At a 0.40 correlation, their price movements are largely independent. Both charge a 0.85% expense ratio.

Performance

MLPB vs. BDCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) and ETRACS MVIS Business Development Companies Index ETN (BDCZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPB achieves a 19.72% return, which is significantly higher than BDCZ's -7.98% return. Over the past 10 years, MLPB has outperformed BDCZ with an annualized return of 10.20%, while BDCZ has yielded a comparatively lower 6.23% annualized return.

MLPB

• 1D: -0.05%
• 1M: -0.42%
• YTD: 19.72%
• 6M: 18.24%
• 1Y: 20.60%
• 3Y*: 22.21%
• 5Y*: 19.42%
• 10Y*: 10.20%

BDCZ

• 1D: -2.73%
• 1M: -7.44%
• YTD: -7.98%
• 6M: -8.99%
• 1Y: -10.32%
• 3Y*: 4.75%
• 5Y*: 3.38%
• 10Y*: 6.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MLPB vs. BDCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	19.72%	7.40%	25.53%	22.01%	30.22%	39.42%	-30.80%	5.69%	-8.79%	-9.71%
BDCZ ETRACS MVIS Business Development Companies Index ETN	-7.98%	-3.72%	12.22%	25.31%	-9.12%	33.97%	-10.95%	26.00%	-7.64%	0.40%

Correlation

The correlation between MLPB and BDCZ is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.40

Over the past year, the correlation between MLPB and BDCZ has dropped to 0.07 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Return for Risk

MLPB vs. BDCZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MLPB

MLPB Risk / Return Rank: 42
MLPB Sharpe Ratio Rank: 43
MLPB Sortino Ratio Rank: 42
MLPB Omega Ratio Rank: 40
MLPB Calmar Ratio Rank: 43
MLPB Martin Ratio Rank: 41

BDCZ

BDCZ Risk / Return Rank: 4
BDCZ Sharpe Ratio Rank: 4
BDCZ Sortino Ratio Rank: 4
BDCZ Omega Ratio Rank: 4
BDCZ Calmar Ratio Rank: 4
BDCZ Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MLPB vs. BDCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) 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.

	MLPB	BDCZ	Difference
Sharpe ratio Return per unit of total volatility	1.54	-0.51	+2.05
Sortino ratio Return per unit of downside risk	2.16	-0.59	+2.75
Omega ratio Gain probability vs. loss probability	1.26	0.93	+0.33
Calmar ratio Return relative to maximum drawdown	2.14	-0.52	+2.66
Martin ratio Return relative to average drawdown	6.60	-0.95	+7.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPB vs. BDCZ - Sharpe Ratio Comparison

The current MLPB Sharpe Ratio is 1.54, which is higher than the BDCZ Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of MLPB and BDCZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MLPB	BDCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	-0.51	+2.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.19	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.29	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.27	-0.04

Drawdowns

MLPB vs. BDCZ - Drawdown Comparison

The maximum MLPB drawdown since its inception was -71.93%, which is greater than BDCZ's maximum drawdown of -55.63%. Use the drawdown chart below to compare losses from any high point for MLPB and BDCZ.

Drawdown Indicators

	MLPB	BDCZ	Difference
Max Drawdown Largest peak-to-trough decline	-71.93%	-55.63%	-16.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-19.95%	+10.27%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-20.77%	+4.28%
Max Drawdown (5Y) Largest decline over 5 years	-20.41%	-23.12%	+2.71%
Max Drawdown (10Y) Largest decline over 10 years	-71.93%	-55.63%	-16.30%
Current Drawdown Current decline from peak	-4.69%	-17.27%	+12.58%
Average Drawdown Average peak-to-trough decline	-14.83%	-7.86%	-6.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	10.94%	-7.81%

Volatility

MLPB vs. BDCZ - Volatility Comparison

The current volatility for ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) is 5.40%, while ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a volatility of 8.37%. This indicates that MLPB 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.

Volatility by Period

	MLPB	BDCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	8.37%	-2.97%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	17.17%	-7.12%
Volatility (1Y) Calculated over the trailing 1-year period	13.51%	20.42%	-6.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.03%	17.80%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.11%	21.73%	+6.38%

MLPB vs. BDCZ - Expense Ratio Comparison

Both MLPB and BDCZ have an expense ratio of 0.85%.

Dividends

MLPB vs. BDCZ - Dividend Comparison

MLPB's dividend yield for the trailing twelve months is around 5.85%, less than BDCZ's 11.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BDCZ ETRACS MVIS Business Development Companies Index ETN	11.28%	10.65%	9.26%	9.13%	9.39%	7.49%	10.01%	8.40%	9.66%	8.74%	7.98%
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	5.85%	6.51%	5.95%	6.37%	6.00%	6.98%	11.93%	7.98%	8.11%	7.23%	6.85%

Frequently Asked Questions

Can I hold both MLPB and BDCZ in my portfolio?

MLPB and BDCZ have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPB or BDCZ?

BDCZ has higher volatility (8.37%) compared to MLPB (5.40%). In terms of maximum drawdown, MLPB dropped -71.93% vs BDCZ's -55.63%.

Which ETF is better, MLPB or BDCZ?

On 10-year performance, MLPB leads with 10.20% vs 6.23% for BDCZ. Both ETFs have the same 0.85% expense ratio. On volatility, MLPB has been the lower-risk option at 5.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPB or BDCZ?

Over the 10-year period, MLPB has performed better with a 10.20% return vs 6.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPB or BDCZ?

MLPB and BDCZ have the same expense ratio: 0.85% per year.

Which ETF pays a higher dividend yield, MLPB or BDCZ?

BDCZ has the higher dividend yield at 11.28%, compared with 5.85% for MLPB.

What is the main difference between MLPB and BDCZ?

MLPB is categorized as MLPs, while BDCZ is Financials Equities. MLPB tracks Alerian MLP Infrastructure Index, while BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index.

Which has better risk-adjusted returns?

MLPB currently has the higher Sharpe Ratio (1.54 vs -0.51), 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.