VTV vs. BDCX
VTV (Vanguard Value ETF) and BDCX (ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value 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, VTV returned 11.30%/yr vs 1.22%/yr for BDCX. A 0.62 correlation means they provide meaningful diversification when combined. VTV charges 0.04%/yr vs 0.95%/yr for BDCX.
Performance
VTV vs. BDCX - Performance Comparison
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Returns By Period
In the year-to-date period, VTV achieves a 11.91% return, which is significantly higher than BDCX's -11.90% return.
VTV
- 1D
- 0.25%
- 1M
- 2.67%
- YTD
- 11.91%
- 6M
- 13.41%
- 1Y
- 25.49%
- 3Y*
- 17.72%
- 5Y*
- 11.30%
- 10Y*
- 12.42%
BDCX
- 1D
- -0.44%
- 1M
- -5.50%
- YTD
- -11.90%
- 6M
- -14.62%
- 1Y
- -18.01%
- 3Y*
- 2.98%
- 5Y*
- 1.22%
- 10Y*
- —
VTV vs. BDCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VTV Vanguard Value ETF | 11.91% | 15.27% | 15.95% | 9.32% | -2.09% | 26.53% | 16.09% |
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 VTV and BDCX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.62 |
Over the past year, the correlation between VTV and BDCX has dropped to 0.41 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
VTV vs. BDCX — Risk / Return Rank
VTV
BDCX
VTV vs. BDCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) 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.
| VTV | BDCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.18 | ||
| Sortino ratioReturn per unit of downside risk | +4.41 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 0.91 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | -0.59 | +4.62 |
| Martin ratioReturn relative to average drawdown | 15.20 | -1.04 | +16.24 |
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
| VTV | BDCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | -0.66 | +3.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.05 | +0.77 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.43 | +0.08 |
Drawdowns
VTV vs. BDCX - Drawdown Comparison
The maximum VTV drawdown since its inception was -59.27%, which is greater than BDCX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for VTV and BDCX.
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Drawdown Indicators
| VTV | BDCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.27% | -34.96% | -24.31% |
Max Drawdown (1Y)Largest decline over 1 year | -6.35% | -30.46% | +24.11% |
Max Drawdown (3Y)Largest decline over 3 years | -14.52% | -33.39% | +18.87% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -34.96% | +17.92% |
Max Drawdown (10Y)Largest decline over 10 years | -36.78% | — | — |
Current DrawdownCurrent decline from peak | -1.11% | -28.40% | +27.29% |
Average DrawdownAverage peak-to-trough decline | -7.87% | -10.10% | +2.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 17.35% | -15.67% |
Volatility
VTV vs. BDCX - Volatility Comparison
The current volatility for Vanguard Value ETF (VTV) is 2.65%, while ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) has a volatility of 8.65%. This indicates that VTV 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
| VTV | BDCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 8.65% | -6.00% |
Volatility (6M)Calculated over the trailing 6-month period | 7.67% | 22.81% | -15.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.18% | 27.60% | -17.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.89% | 26.59% | -12.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.68% | 26.94% | -10.26% |
VTV vs. BDCX - Expense Ratio Comparison
VTV has a 0.04% expense ratio, which is lower than BDCX's 0.95% expense ratio.
Dividends
VTV vs. BDCX - Dividend Comparison
VTV's dividend yield for the trailing twelve months is around 1.87%, 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% |
VTV Vanguard Value ETF | 1.87% | 2.05% | 2.31% | 2.46% | 2.52% | 2.15% | 2.56% | 2.50% | 2.73% | 2.29% | 2.44% | 2.60% |
Frequently Asked Questions
VTV and BDCX have a correlation of 0.41, 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 VTV (2.65%). In terms of maximum drawdown, VTV dropped -59.27% vs BDCX's -34.96%.
On 5-year performance, VTV leads with 11.30% vs 1.22% for BDCX. On fees, VTV is cheaper at 0.04% per year. On volatility, VTV has been the lower-risk option at 2.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VTV has performed better with a 11.30% return vs 1.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTV is cheaper with a 0.04% expense ratio, compared with 0.95% for BDCX.
BDCX has the higher dividend yield at 20.31%, compared with 1.87% for VTV.
VTV is categorized as Large Cap Value Equities, while BDCX is Leveraged Equities. VTV tracks CRSP US Large Cap Value Index, while BDCX tracks MVIS US Business Development Companies (150%). They also come from different issuers: Vanguard and UBS. Their fees differ too: 0.04% for VTV and 0.95% for BDCX.
VTV currently has the higher Sharpe Ratio (2.52 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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