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BIZD

GradeCNew York Stock Exchange Arca

VanEck BDC Income ETF

Themes · VanEck · Inception 2013-02-11 · SEC filings

$12.96−0.14 (−1.03%)

As of Sep 23, 2026, 3:15 PM EDT

Intraday session: down, 70 prints from 13.10 to 12.96. Range 12.93 to 13.08. Use the arrow keys to read each point.$13.00$13.0510 AM12 PM2 PM4 PM
Expense ratio
9.69%
Fund size
$1.6B
1Y return
−4.0%
Yield · Last 12 months
11.63%
Holdings
35
Volume · 30D
3.1M sh
NAV per share
$13.14
52W range
low $11.97high $15.24

The ETF.net BIZD Grade

C

46/ 100

Rank 7 of 12 in Listed Private Markets⁠

Confidence Medium

Six-pillar profile for BIZD. Scores out of 100: Cost 19, Risk 53, Mission 80, Tradability 83, Holdings not scored, Durability 87. Strongest: Durability (87). Weakest: Cost (19). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 46 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 19
    Category rank10/12 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 80
    Category rank1/4 · top 25%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 53
    Category rank6/12 · top 50%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 83
    Category rank1/12 · top 8%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 87
    Category rank1/12 · top 8%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on BIZD

ETF.net Research

CBusiness development companies lend to private mid-sized firms, and BIZD bundles about 40 of the listed ones into a single ticker. It has been the index-tracking way to own that corner since 2013, with cash paid out quarterly.

Stated mandate

The fund seeks to track the performance of publicly traded business development companies through the MVIS US Business Development Companies Index.

Why people hold it

  1. 01One trade for the BDC shelf: roughly 40 publicly listed business development companies, weighted by the MVIS US Business Development Companies Index instead of your own stock picking.
  2. 02Trading since 2013 and now a multi-billion-dollar, actively traded fund, which is the profile that keeps spreads manageable in a narrow niche.
  3. 03No mandate drift: US-listed financials, index-tracked, with distributions on a quarterly cadence.

Worth knowing

  1. 01Cost is the headline trade-off. The reported 9.69% expense ratio towers over the roughly 1.8% median in its listed private-markets peer group.
  2. 02Concentrated by design: about 40 US financial stocks in one lending niche, so the ride tracks that slice, not the broad market.
  3. 03Other doors into listed private markets are cheaper and score better here: GPZ at 0.40% and PSP at 1.80% chase the theme in different ways.

BIZD Holdings

As of Sep 20, 2026, 6:07 AM
Asset class
Other
Holdings
35
Top-10 weight
79%
Largest holding
United States Treasury Bill21.3%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill21.28%347,067,000$343M8
002—United States Treasury Bill17.19%277,519,000$277M27
003ARCCAres Capital Corp13.64%11,169,502$219M17
004OBDCBlue Owl Capital Corp5.53%7,835,478$89M13
005MAINMain Street Capital Corp5.20%1,468,118$84M12
006BXSLBlackstone Secured Lending Fund5.14%3,269,050$83M10
007HTGCHercules Capital Inc3.09%2,805,004$50M9
008FSKFs Kkr Capital Corp2.88%3,952,576$46M10
009OTFBlue Owl Technology Finance Corp2.65%3,931,193$43M9
010GBDCGolub Capital BDC Inc2.60%3,291,213$42M14
011TSLXSixth Street Specialty Lending Inc1.93%1,705,010$31M13
012TRINTrinity Capital Inc1.80%1,612,928$29M8
013CSWCCapital Southwest Corp1.66%1,115,030$27M11
014MSDLMorgan Stanley Direct Lending Fund1.34%1,444,971$22M5
015OCSLOaktree Specialty Lending Corp1.24%1,580,597$20M7

Showing 1–15 of 34 holdings

BIZD Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BIZD$9,599
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BIZD $9,599. SPY $11,723. Use the arrow keys to read each point.$8,402$10,206$12,011Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BIZD. Periods over one year show the average yearly return.
PeriodBIZD
Year to date−2.1%
1 month−1.4%
3 months+9.2%
1 year−4.0%
3 years+4.7%per year
5 years+5.4%per year
10 years+7.4%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BIZD
YearReturn barBIZD
2026 YTD−2.1%
2025−5.0%
2024+15.7%
2023+27.1%
2022−8.6%
2021+36.2%
2020−6.8%

BIZD in the news

ETF.net Research hasn’t filed on BIZD yet — coverage lands here as it’s written.

BIZD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
11.63%Last 12 months
Payout per share
$1.52Last 12 months
Last payment
$0.24 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 38 payments from 2017 to 2026 YTD. Apr 3, 2017 $0.35; Jul 3, 2017 $0.37; Oct 2, 2017 $0.37; Dec 27, 2017 $0.43; Apr 2, 2018 $0.38; Jul 2, 2018 $0.35; Oct 1, 2018 $0.39; Dec 27, 2018 $0.41; Apr 1, 2019 $0.41; Jul 1, 2019 $0.39; Oct 1, 2019 $0.37; Dec 30, 2019 $0.37; Apr 1, 2020 $0.36; Jul 1, 2020 $0.38; Oct 1, 2020 $0.36; Dec 29, 2020 $0.32; Apr 1, 2021 $0.37; Jul 1, 2021 $0.32; Oct 1, 2021 $0.35; Dec 29, 2021 $0.36; Apr 1, 2022 $0.35; Jul 1, 2022 $0.41; Oct 3, 2022 $0.41; Dec 28, 2022 $0.42; Apr 3, 2023 $0.44; Jul 3, 2023 $0.42; Oct 2, 2023 $0.44; Dec 27, 2023 $0.47; Apr 1, 2024 $0.46; Jul 1, 2024 $0.45; Oct 1, 2024 $0.46; Dec 27, 2024 $0.44; Apr 1, 2025 $0.43; Jul 1, 2025 $0.44; Oct 1, 2025 $0.40; Dec 29, 2025 $0.40; Apr 1, 2026 $0.48; Jul 1, 2026 $0.24. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jul 1, 2026Jul 7, 2026$0.24
Apr 1, 2026Apr 7, 2026$0.48
Dec 29, 2025Dec 31, 2025$0.40
Oct 1, 2025Oct 6, 2025$0.40
Jul 1, 2025Jul 7, 2025$0.44
Apr 1, 2025Apr 4, 2025$0.43
Dec 27, 2024Dec 30, 2024$0.44
Oct 1, 2024Oct 4, 2024$0.46
Jul 1, 2024Jul 5, 2024$0.45
Apr 1, 2024Apr 5, 2024$0.46
Dec 27, 2023Dec 29, 2023$0.47
Oct 2, 2023Oct 6, 2023$0.44

BIZD Risk

How much the fund’s monthly returns vary, scaled to a year.
13.8%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.17
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−23.0%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.37
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

BIZD Cost

Expense ratio9.69%
  • The middle half of Listed Private Markets funds
  • Median 0.95%

9 of the 11 Listed Private Markets funds charge less.

BIZD costs $969.00 a year on $10,000. The median Listed Private Markets fund costs $95.00.