VCIT vs. BDCX
VCIT (Vanguard Intermediate-Term Corporate Bond ETF) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond 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, VCIT returned 1.04%/yr vs 1.22%/yr for BDCX. At a 0.19 correlation, their price movements are largely independent. VCIT charges 0.03%/yr vs 0.95%/yr for BDCX.
Performance
VCIT vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, VCIT achieves a -0.26% return, which is significantly higher than BDCX's -11.90% return.
VCIT
- 1D
- -0.01%
- 1M
- -0.79%
- YTD
- -0.26%
- 6M
- 0.06%
- 1Y
- 5.98%
- 3Y*
- 6.04%
- 5Y*
- 1.04%
- 10Y*
- 2.85%
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
VCIT vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VCIT Vanguard Intermediate-Term Corporate Bond ETF | -0.26% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 5.48% |
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | -11.90% | -10.42% | 15.32% | 35.33% | -17.67% | 52.70% | 24.50% |
Correlation
The correlation between VCIT and BDCX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.19 |
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Return for Risk
VCIT vs. BDCX — Risk / Return Rank
VCIT
BDCX
VCIT vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) 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.
| VCIT | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +3.00 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.91 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | -0.59 | +2.62 |
| Martin ratioReturn relative to average drawdown | 6.67 | -1.04 | +7.71 |
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
| VCIT | BDCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | -0.66 | +2.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.05 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.43 | +0.32 |
Drawdowns
VCIT vs. BDCX - Drawdown Comparison
The maximum VCIT drawdown since its inception was -20.56%, smaller than the maximum BDCX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for VCIT and BDCX.
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Drawdown Indicators
| VCIT | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.56% | -34.96% | +14.40% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -30.46% | +27.50% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -33.39% | +27.28% |
Max Drawdown (5Y)Largest decline over 5 years | -20.56% | -34.96% | +14.40% |
Max Drawdown (10Y)Largest decline over 10 years | -20.56% | — | — |
Current DrawdownCurrent decline from peak | -1.79% | -28.40% | +26.61% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -10.10% | +6.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 17.35% | -16.45% |
Volatility
VCIT vs. BDCX - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) is 1.39%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.65%. This indicates that VCIT 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
| VCIT | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 8.65% | -7.26% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 22.81% | -19.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 27.60% | -23.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.61% | 26.59% | -19.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.28% | 26.94% | -20.66% |
VCIT vs. BDCX - Expense Ratio Comparison
VCIT has a 0.03% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
VCIT vs. BDCX - Dividend Comparison
VCIT's dividend yield for the trailing twelve months is around 4.82%, less than BDCX's 20.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN | 20.31% | 19.17% | 15.28% | 14.71% | 17.47% | 11.52% | 6.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.82% | 4.62% | 4.43% | 3.72% | 3.03% | 2.87% | 2.78% | 3.37% | 3.61% | 3.21% | 3.29% | 3.34% |
Frequently Asked Questions
VCIT and BDCX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCX has higher volatility (8.65%) compared to VCIT (1.39%). In terms of maximum drawdown, VCIT dropped -20.56% vs BDCX's -34.96%.
On 5-year performance, BDCX leads with 1.22% vs 1.04% for VCIT. On fees, VCIT is cheaper at 0.03% per year. On volatility, VCIT has been the lower-risk option at 1.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BDCX has performed better with a 1.22% return vs 1.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCIT is cheaper with a 0.03% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.31%, compared with 4.82% for VCIT.
VCIT is categorized as Corporate Bonds, while BDCX is Leveraged Equities. VCIT tracks Bloomberg U.S. 5-10 Year Corporate Bond Index, while BDCX tracks MVIS US Business Development Companies (150%). They also come from different issuers: Vanguard and UBS. Their fees differ too: 0.03% for VCIT and 0.95% for BDCX.
VCIT currently has the higher Sharpe Ratio (1.48 vs -0.66), 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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