SLVO vs. BDCX
SLVO (UBS ETRACS Silver Shares Covered Call ETN) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - SLVO is a Silver fund tracking the Credit Suisse NASDAQ Silver FLOWS 106 Index, while BDCX is a Leveraged Equities fund tracking the MVIS US Business Development Companies (150%). Both are passively managed. Over the past year, SLVO returned 28.85% vs -18.23% for BDCX. Their 0.10 correlation means their historical movements had little consistent relationship. SLVO charges 0.65%/yr vs 0.95%/yr for BDCX.
Performance
SLVO vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, SLVO achieves a -4.64% return, which is significantly higher than BDCX's -10.75% return.
SLVO
- 1D
- -1.56%
- 1M
- -3.21%
- 6M
- -0.08%
- YTD
- -4.64%
- 1Y
- 28.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.05%
BDCX
- 1D
- -0.19%
- 1M
- -2.20%
- 6M
- -9.86%
- YTD
- -10.75%
- 1Y
- -18.23%
- 3Y*
- 0.23%
- 5Y*
- 2.22%
- 10Y*
- —
- ALL TIME*
- 11.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $38.67K | $35.86K | $42.25K | |
| $28.82M | $16.45M | $13.40M |
SLVO vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SLVO UBS ETRACS Silver Shares Covered Call ETN | -4.64% | 71.20% | 0.94% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -10.75% | -10.42% | 1.31% |
Correlation
The correlation between SLVO and BDCX is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024 | 0.10 |
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Return for Risk
SLVO vs. BDCX — Risk / Return Rank
SLVO
BDCX
SLVO vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETRACS Silver Shares Covered Call ETN (SLVO) 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.
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.
| SLVO | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.90 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | -0.74 | +2.10 |
| Martin ratioReturn relative to average drawdown | 3.86 | -1.28 | +5.15 |
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Drawdowns
SLVO vs. BDCX - Drawdown Comparison
The maximum SLVO drawdown since its inception was -22.21%, smaller than the maximum BDCX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for SLVO and BDCX.
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Drawdown Indicators
| SLVO | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -34.96% | +12.75% |
Max Drawdown (1Y)Largest decline over 1 year | -22.21% | -26.35% | +4.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -33.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.96% | — |
Current DrawdownCurrent decline from peak | -18.68% | -27.46% | +8.78% |
Average DrawdownAverage peak-to-trough decline | -4.06% | -10.50% | +6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 15.28% | -7.53% |
Volatility
SLVO vs. BDCX - Volatility Comparison
UBS ETRACS Silver Shares Covered Call ETN (SLVO) has a higher volatility of 10.22% compared to ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) at 7.16%. This indicates that SLVO's price experiences larger fluctuations and is considered to be riskier 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
| SLVO | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.22% | 7.16% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 31.70% | 22.67% | +9.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.46% | 28.36% | +5.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.77% | 26.69% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.77% | 26.87% | -0.10% |
SLVO vs. BDCX - Expense Ratio Comparison
SLVO has a 0.65% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
SLVO vs. BDCX - Dividend Comparison
SLVO's dividend yield for the trailing twelve months is around 73.29%, more than BDCX's 21.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 21.64% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% |
SLVO UBS ETRACS Silver Shares Covered Call ETN | 73.29% | 19.35% | 14.45% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLVO and BDCX 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.
SLVO has higher volatility (10.22%) compared to BDCX (7.16%). In terms of maximum drawdown, SLVO dropped -22.21% vs BDCX's -34.96%.
On 1-year performance, SLVO leads with 28.85% vs -18.23% for BDCX. On fees, SLVO is cheaper at 0.65% per year. On volatility, BDCX has been the lower-risk option at 7.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SLVO has performed better with a 28.85% return vs -18.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVO is cheaper with a 0.65% expense ratio, compared with 0.95% for BDCX.
SLVO has the higher dividend yield at 73.29%, compared with 21.64% for BDCX.
SLVO is categorized as Silver, while BDCX is Leveraged Equities. SLVO tracks Credit Suisse NASDAQ Silver FLOWS 106 Index, while BDCX tracks MVIS US Business Development Companies (150%). Their fees differ too: 0.65% for SLVO and 0.95% for BDCX.
SLVO currently has the higher Sharpe Ratio (0.90 vs -0.69), 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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