UCIB vs. BDCX
UCIB (ETRACS CMCI Total Return ETN Series B) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - UCIB is a Commodities fund tracking the UBS Bloomberg CMCI 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, UCIB returned 12.32%/yr vs 2.16%/yr for BDCX. At a 0.19 correlation, their price movements are largely independent. UCIB charges 0.55%/yr vs 0.95%/yr for BDCX.
Performance
UCIB vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, UCIB achieves a 23.71% return, which is significantly higher than BDCX's -9.12% return.
UCIB
- 1D
- 2.52%
- 1M
- 0.75%
- YTD
- 23.71%
- 6M
- 24.60%
- 1Y
- 32.69%
- 3Y*
- 14.28%
- 5Y*
- 12.32%
- 10Y*
- 10.57%
BDCX
- 1D
- 3.87%
- 1M
- -7.74%
- YTD
- -9.12%
- 6M
- -11.17%
- 1Y
- -14.37%
- 3Y*
- 4.52%
- 5Y*
- 2.16%
- 10Y*
- —
UCIB vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UCIB ETRACS CMCI Total Return ETN Series B | 23.71% | 8.97% | 6.58% | -2.26% | 18.24% | 37.34% | 27.99% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -9.12% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 24.50% |
Correlation
The correlation between UCIB and BDCX is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.19 |
The correlation between UCIB and BDCX shifts across timeframes, from -0.02 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UCIB vs. BDCX — Risk / Return Rank
UCIB
BDCX
UCIB vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS CMCI Total Return ETN Series B (UCIB) 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.
| UCIB | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.56 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.93 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | -0.47 | +2.59 |
| Martin ratioReturn relative to average drawdown | 7.10 | -0.84 | +7.94 |
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
| UCIB | BDCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | -0.53 | +1.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.08 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.45 | -0.06 |
Drawdowns
UCIB vs. BDCX - Drawdown Comparison
The maximum UCIB drawdown since its inception was -36.94%, which is greater than BDCX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for UCIB and BDCX.
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Drawdown Indicators
| UCIB | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.94% | -34.96% | -1.98% |
Max Drawdown (1Y)Largest decline over 1 year | -15.53% | -30.46% | +14.93% |
Max Drawdown (3Y)Largest decline over 3 years | -16.18% | -33.39% | +17.21% |
Max Drawdown (5Y)Largest decline over 5 years | -20.95% | -34.96% | +14.01% |
Max Drawdown (10Y)Largest decline over 10 years | -36.94% | — | — |
Current DrawdownCurrent decline from peak | -13.40% | -26.14% | +12.74% |
Average DrawdownAverage peak-to-trough decline | -9.06% | -10.08% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.62% | 17.20% | -12.58% |
Volatility
UCIB vs. BDCX - Volatility Comparison
ETRACS CMCI Total Return ETN Series B (UCIB) has a higher volatility of 16.26% compared to ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) at 8.67%. This indicates that UCIB'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
| UCIB | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.26% | 8.67% | +7.59% |
Volatility (6M)Calculated over the trailing 6-month period | 31.13% | 22.74% | +8.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.80% | 27.47% | +4.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.76% | 26.56% | +0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.23% | 26.94% | -3.71% |
UCIB vs. BDCX - Expense Ratio Comparison
UCIB has a 0.55% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
UCIB vs. BDCX - Dividend Comparison
UCIB has not paid dividends to shareholders, while BDCX's dividend yield for the trailing twelve months is around 19.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 19.69% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% |
UCIB ETRACS CMCI Total Return ETN Series B | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCIB and BDCX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCIB has higher volatility (16.26%) compared to BDCX (8.67%). In terms of maximum drawdown, UCIB dropped -36.94% vs BDCX's -34.96%.
On 5-year performance, UCIB leads with 12.32% vs 2.16% for BDCX. On fees, UCIB is cheaper at 0.55% per year. On volatility, BDCX has been the lower-risk option at 8.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UCIB has performed better with a 12.32% return vs 2.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCIB is cheaper with a 0.55% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 19.69%, compared with 0.00% for UCIB.
UCIB is categorized as Commodities, while BDCX is Leveraged Equities. UCIB tracks UBS Bloomberg CMCI Index, while BDCX tracks MVIS US Business Development Companies (150%). Their fees differ too: 0.55% for UCIB and 0.95% for BDCX.
UCIB currently has the higher Sharpe Ratio (1.03 vs -0.53), 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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