MLPR vs. BDCZ

Last updated Jun 4, 2026

MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) and BDCZ (ETRACS MVIS Business Development Companies Index ETN) are both exchange-traded funds - MLPR is a Leveraged Equities fund tracking the Alerian MLP Index (150%), 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, MLPR returned 26.89%/yr vs 3.38%/yr for BDCZ. At a 0.48 correlation, their price movements are largely independent. MLPR charges 0.95%/yr vs 0.85%/yr for BDCZ.

Performance

MLPR vs. BDCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) 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, MLPR achieves a 29.81% return, which is significantly higher than BDCZ's -7.98% return.

MLPR

• 1D: -0.37%
• 1M: -1.12%
• YTD: 29.81%
• 6M: 26.95%
• 1Y: 32.42%
• 3Y*: 32.14%
• 5Y*: 26.89%
• 10Y*: —

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)

MLPR vs. BDCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN	29.81%	9.83%	31.57%	35.87%	41.04%	57.33%	-9.51%
BDCZ ETRACS MVIS Business Development Companies Index ETN	-7.98%	-3.72%	12.22%	25.31%	-9.12%	33.97%	17.36%

Correlation

The correlation between MLPR and BDCZ is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.48

Over the past year, the correlation between MLPR and BDCZ has dropped to 0.09 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Return for Risk

MLPR vs. BDCZ — Risk / Return Rank

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

MLPR

MLPR Risk / Return Rank: 44
MLPR Sharpe Ratio Rank: 45
MLPR Sortino Ratio Rank: 41
MLPR Omega Ratio Rank: 42
MLPR Calmar Ratio Rank: 47
MLPR Martin Ratio Rank: 45

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.

MLPR vs. BDCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) 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.

	MLPR	BDCZ	Difference
Sharpe ratio Return per unit of total volatility	1.59	-0.51	+2.09
Sortino ratio Return per unit of downside risk	2.11	-0.59	+2.70
Omega ratio Gain probability vs. loss probability	1.27	0.93	+0.34
Calmar ratio Return relative to maximum drawdown	2.33	-0.52	+2.85
Martin ratio Return relative to average drawdown	7.53	-0.95	+8.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPR vs. BDCZ - Sharpe Ratio Comparison

The current MLPR Sharpe Ratio is 1.59, which is higher than the BDCZ Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of MLPR 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

	MLPR	BDCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	-0.51	+2.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.19	+0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.27	+0.66

Drawdowns

MLPR vs. BDCZ - Drawdown Comparison

The maximum MLPR drawdown since its inception was -48.98%, smaller than the maximum BDCZ drawdown of -55.63%. Use the drawdown chart below to compare losses from any high point for MLPR and BDCZ.

Drawdown Indicators

	MLPR	BDCZ	Difference
Max Drawdown Largest peak-to-trough decline	-48.98%	-55.63%	+6.65%
Max Drawdown (1Y) Largest decline over 1 year	-13.97%	-19.95%	+5.98%
Max Drawdown (3Y) Largest decline over 3 years	-24.45%	-20.77%	-3.68%
Max Drawdown (5Y) Largest decline over 5 years	-28.66%	-23.12%	-5.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-55.63%	—
Current Drawdown Current decline from peak	-7.07%	-17.27%	+10.20%
Average Drawdown Average peak-to-trough decline	-8.94%	-7.86%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.32%	10.94%	-6.62%

Volatility

MLPR vs. BDCZ - Volatility Comparison

ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) and ETRACS MVIS Business Development Companies Index ETN (BDCZ) have volatilities of 8.12% and 8.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPR	BDCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.12%	8.37%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	17.17%	-2.32%
Volatility (1Y) Calculated over the trailing 1-year period	20.64%	20.42%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.52%	17.80%	+11.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.75%	21.73%	+12.02%

MLPR vs. BDCZ - Expense Ratio Comparison

MLPR has a 0.95% expense ratio, which is higher than BDCZ's 0.85% expense ratio.

Dividends

MLPR vs. BDCZ - Dividend Comparison

MLPR's dividend yield for the trailing twelve months is around 9.00%, 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%
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN	9.00%	10.85%	9.57%	10.08%	7.49%	10.69%	4.21%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLPR and BDCZ in my portfolio?

MLPR and BDCZ have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPR or BDCZ?

BDCZ has higher volatility (8.37%) compared to MLPR (8.12%). In terms of maximum drawdown, MLPR dropped -48.98% vs BDCZ's -55.63%.

Which ETF is better, MLPR or BDCZ?

On 5-year performance, MLPR leads with 26.89% vs 3.38% for BDCZ. On fees, BDCZ is cheaper at 0.85% per year. On volatility, MLPR has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPR or BDCZ?

Over the 5-year period, MLPR has performed better with a 26.89% return vs 3.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPR or BDCZ?

BDCZ is cheaper with a 0.85% expense ratio, compared with 0.95% for MLPR.

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

BDCZ has the higher dividend yield at 11.28%, compared with 9.00% for MLPR.

What is the main difference between MLPR and BDCZ?

MLPR is categorized as Leveraged Equities, while BDCZ is Financials Equities. MLPR tracks Alerian MLP Index (150%), while BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index. Their fees differ too: 0.95% for MLPR and 0.85% for BDCZ.

Which has better risk-adjusted returns?

MLPR currently has the higher Sharpe Ratio (1.59 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.