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 12.44%/yr vs 3.28%/yr for BDCX. Their 0.19 correlation means their historical movements had little consistent relationship. 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 23.75% return, which is significantly higher than BDCX's -7.39% return.
UCIB
- 1D
- 0.00%
- 1M
- 6.70%
- 6M
- 20.34%
- YTD
- 23.75%
- 1Y
- 32.01%
- 3Y*
- 11.45%
- 5Y*
- 12.44%
- 10Y*
- 10.54%
- ALL TIME*
- 4.77%
BDCX
- 1D
- 3.77%
- 1M
- 1.49%
- 6M
- -4.08%
- YTD
- -7.39%
- 1Y
- -15.16%
- 3Y*
- 1.00%
- 5Y*
- 3.28%
- 10Y*
- —
- ALL TIME*
- 12.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.64K | $41.20K | $42.20K | |
| $582.36K | $305.70K | $123.29K |
UCIB vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UCIB ETRACS CMCI Total Return ETN Series B | 23.75% | 8.97% | 6.58% | -2.26% | 18.24% | 37.34% | 30.57% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -7.39% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 25.40% |
Correlation
The correlation between UCIB and BDCX is -0.00, 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. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer 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 -0.00 (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 | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.93 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | -0.58 | +2.00 |
| Martin ratioReturn relative to average drawdown | 4.13 | -0.99 | +5.12 |
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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 | -22.67% | -26.35% | +3.68% |
Max Drawdown (3Y)Largest decline over 3 years | -22.67% | -33.39% | +10.72% |
Max Drawdown (5Y)Largest decline over 5 years | -22.67% | -34.96% | +12.29% |
Max Drawdown (10Y)Largest decline over 10 years | -36.94% | — | — |
Current DrawdownCurrent decline from peak | -13.37% | -24.73% | +11.36% |
Average DrawdownAverage peak-to-trough decline | -20.97% | -10.51% | -10.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.77% | 15.32% | -7.55% |
Volatility
UCIB vs. BDCX - Volatility Comparison
ETRACS CMCI Total Return ETN Series B (UCIB) has a higher volatility of 22.90% compared to ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) at 8.10%. 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 | 22.90% | 8.10% | +14.80% |
Volatility (6M)Calculated over the trailing 6-month period | 36.85% | 22.96% | +13.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.64% | 28.63% | +11.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.70% | 26.76% | +1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.45% | 26.90% | -2.45% |
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 20.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 20.86% | 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 -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCIB has higher volatility (22.90%) compared to BDCX (8.10%). In terms of maximum drawdown, UCIB dropped -51.29% vs BDCX's -34.96%.
On 5-year performance, UCIB leads with 12.44% vs 3.28% for BDCX. On fees, UCIB is cheaper at 0.55% per year. On volatility, BDCX has been the lower-risk option at 8.10%. 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 12.44% return vs 3.28%. 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 20.86%, 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 (0.81 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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