ETRACS MarketVector Business Development Companies Liquid Index ETN
BDCZ
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 1285 Avenue of the Americas New York NY United States of America 10019
- IPO Date
- Oct 12, 2015
- CIK
- 0001114446
- Website
- etracs.ubs.com
- Similar Companies
- Business
- UBS ETRACS Wells Fargo Business Development Company Index ETN (BDCZ) is a senior unsecured debt security issued by UBS AG that tracks the performance of the MarketVector US Business Development Companies Liquid Index, providing investors with exposure to a portfolio of U.S. business development companies (BDCs) listed on the NYSE or NASDAQ that meet specified liquidity and market capitalization criteria. The ETN offers quarterly variable coupon payments linked to the cash distributions of the underlying BDC constituents, net of a 0.85% annual investor fee accrued daily; trades on the NYSE Arca exchange under the ticker BDCZ with CUSIP 90274D416; and matures on April 26, 2041. Launched initially on October 8, 2015, as part of the ETRACS Series B exchange offer in late 2019—replacing the original Series A ETN linked to the Wells Fargo Business Development Company Index—it now follows the MarketVector index to measure the liquid segment of the BDC market. The product provides targeted access to BDCs, which are publicly traded closed-end investment companies regulated under the Investment Company Act of 1940 that primarily lend to and invest in small- and mid-sized U.S. companies, often providing debt and equity financing for growth, acquisitions, or recapitalizations; its index constituents represent the top 85% by free-float adjusted market capitalization among eligible BDCs, rebalanced quarterly. Recent distributions include quarterly coupons such as $0.4435 paid on July 22, 2025, $0.5805 on April 22, 2025, and $0.3226 on January 22, 2025, reflecting variable yields tied to underlying BDC payouts, with a recent annualized yield around 10.36% as of late 2025. UBS AG, headquartered in Zurich, Switzerland, with principal U.S. operations in New York, issues the ETN as part of its broader ETRACS platform offering exchange-traded notes across equities, commodities, and strategies; following the 2024 merger with Credit Suisse AG and related assumption of outstanding ETNs in May 2024, UBS has continued to maintain and support the BDCZ product without reported redemptions or major structural changes.