ETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN
BDCXStock · quarterly payer
Forward Yield
20.92%
Annual Dividend
$4.09
Payout Ratio
—
5-Yr Growth
4.4%
Ex-Date
—
Frequency
Quarterly
Summary
As of July 2026, ETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN (BDCX) yields 20.92% ($4.09 per share annually), with a blended fair-value estimate of $65.73 — +236% upside, so it screens as undervalued. Dividend safety grade: D (45/100).
Is BDCX a good dividend stock?
MixedETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN (BDCX) pays a quarterly dividend yielding 20.92% ($4.09/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
Risks
- Cut its dividend in 2025
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
- Below-average dividend safety score
Key Data
- Dividend Yield
- 20.92%
- Payout Ratio
- —
- Annual Dividend
- $4.09
- 5-Yr Avg Growth
- 4.4%
- Ex-Dividend Date
- —
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- —
- Market Cap
- —
- P/E Ratio
- —
- 5-Yr Total Return
- -50%
- 52-Week Range
- $17.90 – $30.10
- Dividend Safety
- D · 45/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
BDCX Price — Last 12 Months
Daily close
Price Return
1 Year
-31%
3 Years
-37%
5 Years
-50%
52-Week Range
$17.90 – $30.10
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is BDCX worth?
Undervaluedlow confidenceOur blended fair-value estimate for ETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN is $65.73 per share, versus a market price of $19.55. That implies 236% of upside — a margin of safety of about 70%.
Fair Value
$65.73
Current Price
$19.55
Upside
+236%
Margin of Safety
70%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 9.3% discount rate (CAPM), 4.0% stage-1 growth, 2.5% terminal growth, $4.09 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
BDCX Dividend Safety Score
Risky
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 14, 2026 | — | $1.1720 | regular |
| Apr 13, 2026 | — | $1.0310 | regular |
| Jan 13, 2026 | — | $0.7660 | regular |
| Oct 10, 2025 | — | $1.1200 | regular |
| Jul 14, 2025 | — | $1.1010 | regular |
| Apr 11, 2025 | — | $1.5560 | regular |
| Jan 13, 2025 | — | $0.8980 | regular |
| Oct 11, 2024 | — | $1.2430 | regular |
| Jul 15, 2024 | — | $1.2500 | regular |
| Apr 11, 2024 | — | $1.2790 | regular |
| Jan 12, 2024 | — | $1.1910 | regular |
| Oct 12, 2023 | — | $1.2480 | regular |
| Jul 13, 2023 | — | $1.1710 | regular |
| Apr 12, 2023 | — | $1.2100 | regular |
Income Calculator
At $4.09 / yr per share
