PIT vs. BIZD

Last updated Jun 25, 2026

PIT (VanEck Commodity Strategy ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - PIT is a Commodities fund actively managed by VanEck, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. PIT is actively managed, while BIZD is passively managed. Over the past 3 years, PIT returned 18.03%/yr vs 5.09%/yr for BIZD. At a 0.09 correlation, their price movements are largely independent. PIT charges 0.55%/yr vs 12.86%/yr for BIZD.

Performance

PIT vs. BIZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Commodity Strategy ETF (PIT) and VanEck BDC Income ETF (BIZD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIT achieves a 22.64% return, which is significantly higher than BIZD's -10.52% return.

PIT

• 1D: -2.37%
• 1M: -13.88%
• YTD: 22.64%
• 6M: 20.86%
• 1Y: 39.22%
• 3Y*: 18.03%
• 5Y*: —
• 10Y*: —

BIZD

• 1D: -0.73%
• 1M: -1.37%
• YTD: -10.52%
• 6M: -9.26%
• 1Y: -14.09%
• 3Y*: 5.09%
• 5Y*: 3.90%
• 10Y*: 7.48%

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

PIT vs. BIZD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PIT VanEck Commodity Strategy ETF	22.64%	21.63%	6.77%	-4.54%	1.67%
BIZD VanEck BDC Income ETF	-10.52%	-4.96%	15.63%	27.02%	0.07%

Correlation

The correlation between PIT and BIZD 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	0.04
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.09

The correlation between PIT and BIZD shifts across timeframes, from -0.07 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PIT vs. BIZD — Risk / Return Rank

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

PIT

PIT Risk / Return Rank: 59
PIT Sharpe Ratio Rank: 62
PIT Sortino Ratio Rank: 55
PIT Omega Ratio Rank: 60
PIT Calmar Ratio Rank: 52
PIT Martin Ratio Rank: 64

BIZD

BIZD Risk / Return Rank: 4
BIZD Sharpe Ratio Rank: 3
BIZD Sortino Ratio Rank: 3
BIZD Omega Ratio Rank: 3
BIZD Calmar Ratio Rank: 4
BIZD 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.

PIT vs. BIZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Commodity Strategy ETF (PIT) 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.

	PIT	BIZD	Difference
Sharpe ratio: Return per unit of total volatility	1.83	-0.77	+2.59
Sortino ratio: Return per unit of downside risk	2.37	-1.00	+3.37
Omega ratio: Gain probability vs. loss probability	1.33	0.89	+0.44
Calmar ratio: Return relative to maximum drawdown	2.29	-0.64	+2.93
Martin ratio: Return relative to average drawdown	10.32	-1.06	+11.38

PIT vs. BIZD - Sharpe Ratio Comparison

The current PIT Sharpe Ratio is 1.83, which is higher than the BIZD Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of PIT and BIZD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PIT vs. BIZD - Drawdown Comparison

The maximum PIT drawdown since its inception was -17.20%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for PIT and BIZD.

Drawdown Indicators

	PIT	BIZD	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-55.44%	+38.24%
Max Drawdown (1Y) Largest decline over 1 year	-17.20%	-22.22%	+5.02%
Max Drawdown (3Y) Largest decline over 3 years	-17.20%	-22.56%	+5.36%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-55.44%	—
Current Drawdown Current decline from peak	-17.20%	-20.64%	+3.44%
Average Drawdown Average peak-to-trough decline	-4.10%	-6.77%	+2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	13.36%	-9.55%

Volatility

PIT vs. BIZD - Volatility Comparison

The current volatility for VanEck Commodity Strategy ETF (PIT) is 5.04%, while VanEck BDC Income ETF (BIZD) has a volatility of 5.53%. This indicates that PIT 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.

Volatility by Period

	PIT	BIZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	5.53%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	19.56%	15.18%	+4.38%
Volatility (1Y) Calculated over the trailing 1-year period	21.68%	18.49%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.54%	17.44%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.54%	21.78%	-4.24%

PIT vs. BIZD - Expense Ratio Comparison

PIT has a 0.55% expense ratio, which is lower than BIZD's 12.86% expense ratio.

Dividends

PIT vs. BIZD - Dividend Comparison

PIT's dividend yield for the trailing twelve months is around 7.27%, less than BIZD's 14.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIZD VanEck BDC Income ETF	14.11%	11.78%	10.94%	10.96%	11.21%	8.14%	10.39%	9.13%	10.88%	9.13%	8.51%	9.12%
PIT VanEck Commodity Strategy ETF	7.27%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PIT and BIZD in my portfolio?

PIT and BIZD 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, PIT or BIZD?

BIZD has higher volatility (5.53%) compared to PIT (5.04%). In terms of maximum drawdown, PIT dropped -17.20% vs BIZD's -55.44%.

Which ETF is better, PIT or BIZD?

On 3-year performance, PIT leads with 18.03% vs 5.09% for BIZD. On fees, PIT is cheaper at 0.55% per year. On volatility, PIT has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PIT or BIZD?

Over the 3-year period, PIT has performed better with a 18.03% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PIT or BIZD?

PIT is cheaper with a 0.55% expense ratio, compared with 12.86% for BIZD.

Which ETF pays a higher dividend yield, PIT or BIZD?

BIZD has the higher dividend yield at 14.11%, compared with 7.27% for PIT.

What is the main difference between PIT and BIZD?

PIT is categorized as Commodities, while BIZD is Financials Equities. Their fees differ too: 0.55% for PIT and 12.86% for BIZD.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.83 vs -0.77), 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.