- ISIN
- US7467295082
- Issuer
- Franklin Templeton
- Inception Date
- Sep 29, 2022
- Region
- North America (U.S.)
- Category
- Financials Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Value
- Assets Under Management
- $282M
Highlights
- Avg. Volume (1M)
- 119K
- Avg. Volume Value (1M)
- $3.16M
Share Price Chart
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Performance
PBDC Performance Chart
Putnam BDC Income ETF (PBDC) is down 9.2% since the beginning of the year. PBDC is currently trading at $26 per share.
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Returns By Period
Putnam BDC Income ETF (PBDC) has returned -9.20% so far this year and -12.27% over the past 12 months.
Putnam BDC Income ETF
- 1D
- 0.11%
- 1M
- -1.02%
- 6M
- -8.00%
- YTD
- -9.20%
- 1Y
- -12.27%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.83%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
PBDC Monthly Returns History
Based on dividend-adjusted daily data since Sep 30, 2022, PBDC's average daily return is +0.05%, while the average monthly return is +1.00%. At this rate, an investment would double in approximately 5.8 years.
Historically, 68% of months were positive and 32% were negative. The best month was Oct 2022 with a return of +10.6%, while the worst month was Feb 2026 at -11.3%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, PBDC closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +7.7%, while the worst single day was Apr 4, 2025 at -7.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.31% | -11.32% | 2.99% | 6.02% | -3.90% | -0.62% | -0.51% | -9.20% | |||||
| 2025 | 4.47% | 0.58% | -4.17% | -6.98% | 6.19% | 1.20% | 2.10% | 0.71% | -6.53% | -0.98% | 1.99% | 0.54% | -1.77% |
| 2024 | 1.57% | 1.28% | 4.12% | 2.39% | 2.63% | -0.58% | 0.73% | -1.47% | 0.57% | 1.09% | 4.39% | 1.33% | 19.43% |
| 2023 | 8.29% | 2.04% | -4.41% | 0.89% | 2.17% | 5.43% | 5.40% | 0.41% | 1.75% | -4.19% | 6.29% | 3.70% | 30.52% |
| 2022 | -0.43% | 10.64% | 4.47% | -4.08% | 10.38% |
Benchmark Metrics
Putnam BDC Income ETF has an annualized alpha of -0.77%, beta of 0.67, and R2 of 0.38 versus S&P 500 Index. Calculated based on daily prices since September 30, 2022.
- This ETF participated in 52.07% of S&P 500 Index downside but only 49.60% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.67 may look defensive, but with R2 of 0.38 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.38 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -0.77%
- Beta
- 0.67
- R²
- 0.38
- Upside Capture
- 49.60%
- Downside Capture
- 52.07%
Expense Ratio
PBDC has a high expense ratio of 13.49%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
PBDC ranks 3 for risk / return — above 3% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Putnam BDC Income ETF (PBDC) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PBDC | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -2.88 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.25 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.00 | -2.75 |
| Martin ratioReturn relative to average drawdown | -1.28 | 8.49 | -9.77 |
Dividends
Dividend History
Putnam BDC Income ETF provided a 11.58% dividend yield over the last twelve months, with an annual payout of $3.05 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $3.05 | $3.22 | $3.20 | $3.12 | $0.92 |
Dividend yield | 11.58% | 10.53% | 9.29% | 9.86% | 3.40% |
Monthly Dividends
The table displays the monthly dividend distributions for Putnam BDC Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.71 | $0.00 | $0.00 | $0.70 | $1.41 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.79 | $0.00 | $0.00 | $0.79 | $0.00 | $0.00 | $0.82 | $0.00 | $0.83 | $3.22 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.76 | $0.00 | $0.00 | $0.79 | $0.00 | $0.00 | $0.86 | $0.00 | $0.79 | $3.20 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.73 | $0.00 | $0.00 | $0.76 | $0.00 | $0.00 | $0.78 | $0.00 | $0.85 | $3.12 |
| 2022 | $0.92 | $0.92 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Putnam BDC Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Putnam BDC Income ETF was 20.47%, occurring on Mar 12, 2026. The portfolio has not yet recovered.
The current Putnam BDC Income ETF drawdown is 16.71%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-20.47%Mar 2026 | 1y 20d | — | 1y 5moFeb 2025 - now | — |
-10.57%Mar 2023 | 6d | 2mo 26d | 3mo 2dMar 2023 - Jun 2023 | — |
-8.47%Aug 2024 | 27d | 2mo 12d | 3mo 9dJul 2024 - Oct 2024 | — |
-6.44%Dec 2022 | 21d | 23d | 1mo 14dNov 2022 - Jan 2023 | Bear market2022 |
-6.04%Oct 2023 | 28d | 18d | 1mo 16dSep 2023 - Nov 2023 | — |
Drawdown Indicators
| PBDC | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.47% | -56.78% | +36.31% |
Max Drawdown (1Y)Largest decline over 1 year | -17.71% | -9.10% | -8.61% |
Max Drawdown (3Y)Largest decline over 3 years | -20.47% | -18.90% | -1.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -16.71% | -1.58% | -15.13% |
Average DrawdownAverage peak-to-trough decline | -5.16% | -10.70% | +5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.32% | 2.14% | +8.18% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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