VGK vs. BDCX
VGK (Vanguard FTSE Europe ETF) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - VGK is a Europe Equities fund tracking the FTSE Developed Europe All Cap 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, VGK returned 8.08%/yr vs 1.22%/yr for BDCX. A 0.55 correlation means they provide meaningful diversification when combined. VGK charges 0.06%/yr vs 0.95%/yr for BDCX.
Performance
VGK vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, VGK achieves a 5.17% return, which is significantly higher than BDCX's -11.90% return.
VGK
- 1D
- 0.45%
- 1M
- -0.68%
- YTD
- 5.17%
- 6M
- 8.47%
- 1Y
- 16.29%
- 3Y*
- 16.24%
- 5Y*
- 8.08%
- 10Y*
- 9.63%
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
VGK vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VGK Vanguard FTSE Europe ETF | 5.17% | 35.83% | 1.88% | 20.19% | -15.98% | 16.89% | 18.46% |
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 VGK and BDCX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.55 |
The correlation between VGK and BDCX shifts across timeframes, from 0.37 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VGK vs. BDCX — Risk / Return Rank
VGK
BDCX
VGK vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Europe ETF (VGK) 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.
| VGK | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.38 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.91 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | -0.59 | +1.95 |
| Martin ratioReturn relative to average drawdown | 5.01 | -1.04 | +6.05 |
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
| VGK | BDCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | -0.66 | +1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.05 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.43 | -0.15 |
Drawdowns
VGK vs. BDCX - Drawdown Comparison
The maximum VGK drawdown since its inception was -63.61%, which is greater than BDCX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for VGK and BDCX.
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Drawdown Indicators
| VGK | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.61% | -34.96% | -28.65% |
Max Drawdown (1Y)Largest decline over 1 year | -12.09% | -30.46% | +18.37% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -33.39% | +19.08% |
Max Drawdown (5Y)Largest decline over 5 years | -32.74% | -34.96% | +2.22% |
Max Drawdown (10Y)Largest decline over 10 years | -37.24% | — | — |
Current DrawdownCurrent decline from peak | -2.83% | -28.40% | +25.57% |
Average DrawdownAverage peak-to-trough decline | -13.34% | -10.10% | -3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 17.35% | -14.09% |
Volatility
VGK vs. BDCX - Volatility Comparison
The current volatility for Vanguard FTSE Europe ETF (VGK) is 4.86%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.65%. This indicates that VGK 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
| VGK | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.86% | 8.65% | -3.79% |
Volatility (6M)Calculated over the trailing 6-month period | 12.97% | 22.81% | -9.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.57% | 27.60% | -12.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.92% | 26.59% | -8.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.97% | 26.94% | -7.97% |
VGK vs. BDCX - Expense Ratio Comparison
VGK has a 0.06% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
VGK vs. BDCX - Dividend Comparison
VGK's dividend yield for the trailing twelve months is around 2.83%, 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% |
VGK Vanguard FTSE Europe ETF | 2.83% | 2.86% | 3.61% | 3.15% | 3.25% | 3.05% | 2.11% | 3.27% | 3.95% | 2.70% | 3.52% | 3.25% |
Frequently Asked Questions
VGK and BDCX have a correlation of 0.37, 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 VGK (4.86%). In terms of maximum drawdown, VGK dropped -63.61% vs BDCX's -34.96%.
On 5-year performance, VGK leads with 8.08% vs 1.22% for BDCX. On fees, VGK is cheaper at 0.06% per year. On volatility, VGK has been the lower-risk option at 4.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VGK has performed better with a 8.08% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGK is cheaper with a 0.06% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.31%, compared with 2.83% for VGK.
VGK is categorized as Europe Equities, while BDCX is Leveraged Equities. VGK tracks FTSE Developed Europe All Cap Index, while BDCX tracks MVIS US Business Development Companies (150%). They also come from different issuers: Vanguard and UBS. Their fees differ too: 0.06% for VGK and 0.95% for BDCX.
VGK currently has the higher Sharpe Ratio (1.05 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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