BIZD
VanEck BDC Income ETF
VanEck Vectors BDC Income ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the VanEck Vectors US Business Development Companies Index. The Index is a rules based index intended to track the overall performance of publicly traded business development companies.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
1.3 B
ASSETS UNDER MGMT
11 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 11, 2013 |
| Assets (mns) | $1,324 |
| Expense ratio | 11 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ARES CAPITAL CORP | 21.4 % |
| BLACKSTONE SECURED LENDING FUND | 16.7 % |
| FS INVESTMENT CORP | 9.4 % |
| OWL ROCK CAPITAL CORP. | 8.5 % |
| MAIN STREET CAPITAL CORP | 4.9 % |
| HERCULES TECHNOLOGY GROWTH | 4.5 % |
| GOLUB CAPITAL BDC INC | 4.4 % |
| TPG SPECIALTY LENDING, INC. | 3.7 % |
| PROSPECT CAPITAL CORP | 3.0 % |
| GOLDMAN SACHS BDC, INC | 2.6 % |
Constituent Breakdown
| Number of holdings | 30 |
| Herfindahl-Hirschman Index | 1,009 |
| Wgt avg mkt cap (mns) | $3,868 |
| Large cap (>$10bn) | 0.0% |
| Mid cap ($2-10bn) | 66.8% |
| Small cap (<$2bn) | 33.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 83.1 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 10.4% | 15.0% | 15.0% | 9.4% | 10.2% | 8.3% | 7.6% | Volatility | 11.3% | 11.1% | 14.2% | 16.9% | 27.4% | 21.3% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.74 | 60% |
| MSCI EAFE | 0.68 | 50% |
| MSCI Emg Mkts | 0.49 | 26% |
Liquidity Measures
| Avg. volume (000) | 838 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.07% |
| ADV of underlying (mns) | $258 |
Technical Indicators
| Recent close | $16.72 |
| 30d moving avg. | $16.73 |
| Annualized volatility | 16.8% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 2.3% |
| Short interest (underlying) | 3.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BIZD |
Expenses vs. BIZD |
ALTAR Score™ vs. BIZD |
|---|---|---|---|---|
| PEX | ProShares Global Listed Private Equity ETF | 48.0% | +70 bp | -0.2% |
| LBO | WHITEWOLF Publicly Listed Private Equity ETF | 41.6% | +59 bp | -3.6% |
| ERNZ | TrueShares Active Yield ETF | 18.0% | +64 bp | -0.5% |
| KBWD | Invesco KBW High Dividend Yield Financial ETF | 16.8% | +373 bp | -2.4% |
Risk and Returns: BIZD vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/20/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BIZD
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
BIZD
11.8%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 374 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.8%. BIZD's ALTAR Score™ is approximately
1.6 standard deviations
above
the category average. This places BIZD in the 95th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BIZDSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| BIZD (11 bp) Percentile rank | 1 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BIZD | 11.2 | 6.5 | 17.67 |
| Peer Avg. | 57.0 | 39.6 | 96.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .