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 12.29%/yr vs 2.63%/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 22.64% return, which is significantly higher than BDCX's -8.43% return.
UCIB
- 1D
- 0.68%
- 1M
- 2.22%
- 6M
- 18.97%
- YTD
- 22.64%
- 1Y
- 28.95%
- 3Y*
- 12.00%
- 5Y*
- 12.29%
- 10Y*
- 10.48%
BDCX
- 1D
- 0.74%
- 1M
- 1.31%
- 6M
- -8.65%
- YTD
- -8.43%
- 1Y
- -20.31%
- 3Y*
- 2.27%
- 5Y*
- 2.63%
- 10Y*
- —
UCIB vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UCIB ETRACS CMCI Total Return ETN Series B | 22.64% | 8.97% | 6.58% | -2.26% | 18.24% | 37.34% | 30.57% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -8.43% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 25.40% |
Correlation
The correlation between UCIB and BDCX is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.19 |
The correlation between UCIB and BDCX shifts across timeframes, from -0.01 (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.
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.
| UCIB | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.62 | ||
| Sortino ratioReturn per unit of downside risk | +2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.90 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -0.67 | +2.15 |
| Martin ratioReturn relative to average drawdown | 4.09 | -1.08 | +5.16 |
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Drawdowns
UCIB vs. BDCX - Drawdown Comparison
The maximum UCIB drawdown since its inception was -51.29%, 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 | -51.29% | -34.96% | -16.33% |
Max Drawdown (1Y)Largest decline over 1 year | -19.66% | -30.46% | +10.80% |
Max Drawdown (3Y)Largest decline over 3 years | -19.66% | -33.39% | +13.73% |
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 | -14.15% | -25.58% | +11.43% |
Average DrawdownAverage peak-to-trough decline | -21.01% | -10.37% | -10.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.10% | 18.91% | -11.81% |
Volatility
UCIB vs. BDCX - Volatility Comparison
The current volatility for ETRACS CMCI Total Return ETN Series B (UCIB) is 5.91%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 7.12%. This indicates that UCIB 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
| UCIB | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.91% | 7.12% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 32.07% | 22.64% | +9.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.68% | 28.08% | +4.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.94% | 26.65% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.40% | 26.88% | -3.48% |
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 21.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 21.10% | 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 -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (7.12%) compared to UCIB (5.91%). In terms of maximum drawdown, UCIB dropped -51.29% vs BDCX's -34.96%.
On 5-year performance, UCIB leads with 12.29% vs 2.63% for BDCX. On fees, UCIB is cheaper at 0.55% per year. On volatility, UCIB has been the lower-risk option at 5.91%. 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 12.29% return vs 2.63%. 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 21.10%, 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 (0.89 vs -0.73), 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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