SMB vs. BIZD
SMB (VanEck Short Muni ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - SMB is a Municipal Bonds fund tracking the Bloomberg AMT-Free Short Continuous, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. Both are passively managed. Over the past 10 years, SMB returned 1.40%/yr vs 7.22%/yr for BIZD. Their 0.02 correlation means their historical movements had little consistent relationship. SMB charges 0.20%/yr vs 12.86%/yr for BIZD.
Performance
SMB vs. BIZD - Performance Comparison
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Returns By Period
In the year-to-date period, SMB achieves a 0.39% return, which is significantly higher than BIZD's -7.38% return. Over the past 10 years, SMB has underperformed BIZD with an annualized return of 1.40%, while BIZD has yielded a comparatively higher 7.22% annualized return.
SMB
- 1D
- -0.06%
- 1M
- -0.43%
- 6M
- 0.34%
- YTD
- 0.39%
- 1Y
- 1.99%
- 3Y*
- 3.35%
- 5Y*
- 1.08%
- 10Y*
- 1.40%
- ALL TIME*
- 2.01%
BIZD
- 1D
- -0.16%
- 1M
- -0.88%
- 6M
- -6.19%
- YTD
- -7.38%
- 1Y
- -13.09%
- 3Y*
- 3.10%
- 5Y*
- 4.58%
- 10Y*
- 7.22%
- ALL TIME*
- 6.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.52M | $40.73M | $41.70M | |
| $770.61K | $950.10K | $1.02M |
SMB vs. BIZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | 0.39% | 4.61% | 2.41% | 3.14% | -4.50% | 0.12% | 3.30% | 4.54% | 1.86% | 1.16% |
BIZD VanEck BDC Income ETF | -7.38% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | 30.87% | -6.88% | 0.36% |
Correlation
The correlation between SMB and BIZD 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 (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.02 |
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Return for Risk
SMB vs. BIZD — Risk / Return Rank
SMB
BIZD
SMB vs. BIZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) 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.
| SMB | BIZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.27 | ||
| Sortino ratioReturn per unit of downside risk | +3.17 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.89 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | -0.75 | +2.86 |
| Martin ratioReturn relative to average drawdown | 5.77 | -1.27 | +7.04 |
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Drawdowns
SMB vs. BIZD - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for SMB and BIZD.
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Drawdown Indicators
| SMB | BIZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -55.44% | +42.80% |
Max Drawdown (1Y)Largest decline over 1 year | -1.17% | -18.99% | +17.82% |
Max Drawdown (3Y)Largest decline over 3 years | -1.80% | -22.56% | +20.76% |
Max Drawdown (5Y)Largest decline over 5 years | -7.47% | -22.91% | +15.44% |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | -55.44% | +42.80% |
Current DrawdownCurrent decline from peak | -0.49% | -17.85% | +17.36% |
Average DrawdownAverage peak-to-trough decline | -1.13% | -6.85% | +5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 11.35% | -10.92% |
Volatility
SMB vs. BIZD - Volatility Comparison
The current volatility for VanEck Short Muni ETF (SMB) is 0.42%, while VanEck BDC Income ETF (BIZD) has a volatility of 4.68%. This indicates that SMB 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.
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Volatility by Period
| SMB | BIZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 4.68% | -4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 15.09% | -14.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.64% | 18.80% | -17.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.48% | 17.51% | -15.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 21.81% | -17.56% |
SMB vs. BIZD - Expense Ratio Comparison
SMB has a 0.20% expense ratio, which is lower than BIZD's 12.86% expense ratio.
Dividends
SMB vs. BIZD - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.77%, less than BIZD's 12.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 12.29% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
SMB VanEck Short Muni ETF | 2.53% | 2.63% | 2.38% | 1.83% | 1.32% | 1.24% | 1.50% | 1.58% | 1.49% | 1.23% | 1.12% | 1.13% |
Frequently Asked Questions
SMB 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.
BIZD has higher volatility (4.68%) compared to SMB (0.42%). In terms of maximum drawdown, SMB dropped -12.64% vs BIZD's -55.44%.
On 10-year performance, BIZD leads with 7.22% vs 1.40% for SMB. On fees, SMB is cheaper at 0.20% per year. On volatility, SMB has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BIZD has performed better with a 7.22% return vs 1.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMB is cheaper with a 0.20% expense ratio, compared with 12.86% for BIZD.
BIZD has the higher dividend yield at 12.29%, compared with 2.53% for SMB.
SMB is categorized as Municipal Bonds, while BIZD is Financials Equities. SMB tracks Bloomberg AMT-Free Short Continuous, while BIZD tracks MVIS US Business Development Companies Index. Their fees differ too: 0.20% for SMB and 12.86% for BIZD.
SMB currently has the higher Sharpe Ratio (1.51 vs -0.76), 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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