BDCS

ETRACS Linked to the Wells Fargo Business Development Company Index ETN
*Unless otherwise stated, data provided by FactSet.

BDCS Fund Description

BDCS tracks an index of about 40 companies invested in the initial growth stages of small firms.

BDCS Factset Analytics Insight

BDCS covers a somewhat obscure pocket of the global funding market: business development companies. The ETN's reference index tracks about 40 companies that act as venture capital firms, but are typically structured as publicly traded closed-end funds. These firms generally invest in small or financially troubled firms directly via equity positions or indirectly through loans. They are therefore very different than the huge firms like Blackstone that dominate our global private equity benchmark. Thanks to the juicy yields BDCs typically produce, BDCS is able to pay a hefty yield, but total returns are by no means assured to exceed the yield, or even be positive. The ETN is not necessarily cheaper to hold than competing funds: The aggregation of the high fees charged by the underlying BDCs is not reported in BDCS's fee as it is in PSP and PEX. In all cases, underlying expenses flow through to the bottom line. Note: BDCZ, a B series version of the ETN, launched in Oct. 2015. It tracks the same index but its liquidity may differ.

BDCS Charts And Performance

Price Chart ($)
Total Return Chart (%)
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PERFORMANCE [as of 11/15/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
BDCS 1.98% 5.15% 22.34% 11.84% 5.56% 4.63% --
BDCS (NAV) 1.90% 5.24% 22.15% 11.34% 5.78% 4.57% --
MVIS U.S. Business Development Companies Index -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

BDCS Summary Data

UBS
ETRACS
04/27/11
Exchange-Traded Note
0.85%
$86.29M
$259.77K
0.42%

BDCS Portfolio Data

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8.65%
07/10/19
0

BDCS Index Data

Market Cap
Market Cap
MVIS U.S. Business Development Companies Index

BDCS Portfolio Management

0.85%
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BDCS Tax Exposures

20.00% / 39.60%
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Ordinary income
No

BDCS Fund Structure

Exchange-Traded Note
No
N/A
N/A / N/A
UBS AG (Jersey Branch)
Low
Low
Daily
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

BDCS Factset Analytics Block Liquidity

As of 11/18/19
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of BDCS. BDCS is rated a N/A out of 5.

BDCS Tradability

13,121
$259.77K
9,176
$181.94K
0.42%
$0.08
-0.02%
0.67% / -1.48%
Potential
100.00%
50,000
0.18
0.12%
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0
$19.79
N/A

BDCS Countries


BDCS
Segment Benchmark
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100.00%

BDCS Regions


BDCS
Segment Benchmark
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100.00%

BDCS Economic Development


BDCS
Segment Benchmark
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100.00%

BDCS Performance Statistics

0.99
0.96
0.95
0.98
0.09%
MVIS U.S. Business Development Companies Index

BDCS Benchmark Comparison Holdings

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BDCS Benchmark Comparison Summary


BDCS
Segment Benchmark
0
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BDCS Benchmark Comparison Market Cap Size


BDCS
Segment Benchmark
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