BIZD vs GTPE

BIZDCVanEck BDC Income ETF

GTPEAGoldman Sachs MSCI World Private Equity Return Tracker ETF

In short

BIZD Business 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.

GTPE Private equity returns, minus the lockup. GTPE tracks an MSCI index that rebuilds buyout-style return patterns out of public developed-market stocks, so the exposure trades on an exchange instead of sitting in a locked-up partnership.

Stated mandate

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

GTPE The Fund seeks to track, before fees and expenses, the MSCI World Private Equity Return Tracker Index (Net, USD, Unhedged).

Why people hold it

• BIZD One 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.
• Trading since 2013 and now a multi-billion-dollar, actively traded fund, which is the profile that keeps spreads manageable in a narrow niche.
• No mandate drift: US-listed financials, index-tracked, with distributions on a quarterly cadence.

• GTPE Peers like PSP and GPZ own listed buyout shops and alt managers. GTPE goes wider: roughly 1,600 developed-market stocks tilted to growth, value, momentum and low volatility.
• 0.50% a year sits at the low end of the listed private-markets shelf, where the long-running incumbent PSP charges 1.80%.
• A plain 1940 Act ETF holding public equities: trades any market day, no capital calls, no lockup, no accreditation requirement.

Worth knowing

• BIZD Cost 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.
• Concentrated by design: about 40 US financial stocks in one lending niche, so the ride tracks that slice, not the broad market.
• Other 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.

• GTPE A proxy, not the real thing. You own public stocks selected to echo private equity's return pattern, not stakes in private companies.
• Launched in October 2025 and still small and thinly traded, which can mean wider bid-ask spreads and a short record to judge it on.
• Developed markets only. Private-market activity in emerging economies sits outside the mandate.

Full BIZD profile⁠

Full GTPE profile⁠