SGOV vs. BDCX
SGOV (iShares 0-3 Month Treasury Bond ETF) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%). Both are passively managed. Over the past 5 years, SGOV returned 3.55%/yr vs 1.22%/yr for BDCX. At a correlation of -0.02, they often move in opposite directions. SGOV charges 0.09%/yr vs 0.95%/yr for BDCX.
Performance
SGOV vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, SGOV achieves a 1.56% return, which is significantly higher than BDCX's -11.90% return.
SGOV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.70%
- 5Y*
- 3.55%
- 10Y*
- —
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
SGOV vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 1.56% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -11.90% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 24.50% |
Correlation
The correlation between SGOV and BDCX is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | -0.02 |
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Return for Risk
SGOV vs. BDCX — Risk / Return Rank
SGOV
BDCX
SGOV vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) and ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX). 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.
| SGOV | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +20.93 | ||
| Sortino ratioReturn per unit of downside risk | +276.51 | ||
| Omega ratioGain probability vs. loss probability | 195.55 | 0.91 | +194.64 |
| Calmar ratioReturn relative to maximum drawdown | 398.20 | -0.59 | +398.79 |
| Martin ratioReturn relative to average drawdown | 4,461.99 | -1.04 | +4,463.03 |
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
| SGOV | BDCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 20.28 | -0.66 | +20.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 14.78 | 0.05 | +14.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 12.50 | 0.43 | +12.07 |
Drawdowns
SGOV vs. BDCX - Drawdown Comparison
The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum BDCX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for SGOV and BDCX.
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Drawdown Indicators
| SGOV | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -34.96% | +34.93% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -30.46% | +30.45% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -33.39% | +33.38% |
Max Drawdown (5Y)Largest decline over 5 years | -0.03% | -34.96% | +34.93% |
Current DrawdownCurrent decline from peak | 0.00% | -28.40% | +28.40% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -10.10% | +10.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 17.35% | -17.35% |
Volatility
SGOV vs. BDCX - Volatility Comparison
The current volatility for iShares 0-3 Month Treasury Bond ETF (SGOV) is 0.06%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.65%. This indicates that SGOV experiences smaller price fluctuations and is considered to be less risky than BDCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGOV | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 8.65% | -8.59% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 22.81% | -22.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 27.60% | -27.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.24% | 26.59% | -26.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.24% | 26.94% | -26.70% |
SGOV vs. BDCX - Expense Ratio Comparison
SGOV has a 0.09% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
SGOV vs. BDCX - Dividend Comparison
SGOV's dividend yield for the trailing twelve months is around 3.85%, less than BDCX's 20.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 20.31% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
SGOV and BDCX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (8.65%) compared to SGOV (0.06%). In terms of maximum drawdown, SGOV dropped -0.03% vs BDCX's -34.96%.
On 5-year performance, SGOV leads with 3.55% vs 1.22% for BDCX. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.55% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.31%, compared with 3.85% for SGOV.
SGOV is categorized as Ultrashort Bond, while BDCX is Leveraged Equities. SGOV tracks ICE 0-3 Month US Treasury Securities Index, while BDCX tracks MVIS US Business Development Companies (150%). They also come from different issuers: iShares and UBS. Their fees differ too: 0.09% for SGOV and 0.95% for BDCX.
SGOV currently has the higher Sharpe Ratio (20.28 vs -0.66), 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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