ADAM vs. PBDC
ADAM (Adamas Trust, Inc) is a stock, while PBDC (Putnam BDC Income ETF) is Financials Equities fund actively managed by Franklin Templeton. Over the past 3 years, ADAM returned 22.03%/yr vs 7.11%/yr for PBDC. At a 0.46 correlation, their price movements are largely independent.
Performance
ADAM vs. PBDC - Performance Comparison
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Returns By Period
In the year-to-date period, ADAM achieves a 76.64% return, which is significantly higher than PBDC's -11.42% return.
ADAM
- 1D
- 4.61%
- 1M
- 40.28%
- YTD
- 76.64%
- 6M
- 79.84%
- 1Y
- 112.65%
- 3Y*
- 22.03%
- 5Y*
- 4.37%
- 10Y*
- 5.49%
PBDC
- 1D
- 0.30%
- 1M
- -1.31%
- YTD
- -11.42%
- 6M
- -9.25%
- 1Y
- -11.33%
- 3Y*
- 7.11%
- 5Y*
- —
- 10Y*
- —
ADAM vs. PBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ADAM Adamas Trust, Inc | 76.64% | 36.49% | -19.27% | -5.45% | 18.49% |
PBDC Putnam BDC Income ETF | -11.42% | -1.77% | 19.43% | 30.52% | 10.38% |
Correlation
The correlation between ADAM and PBDC is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.46 |
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Return for Risk
ADAM vs. PBDC — Risk / Return Rank
ADAM
PBDC
ADAM vs. PBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Adamas Trust, Inc (ADAM) and Putnam BDC Income ETF (PBDC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| ADAM | PBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.07 | ||
| Sortino ratioReturn per unit of downside risk | +5.04 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 0.91 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 6.64 | -0.56 | +7.20 |
| Martin ratioReturn relative to average drawdown | 21.04 | -0.98 | +22.02 |
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Drawdowns
ADAM vs. PBDC - Drawdown Comparison
The maximum ADAM drawdown since its inception was -97.94%, which is greater than PBDC's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for ADAM and PBDC.
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Drawdown Indicators
| ADAM | PBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.94% | -20.47% | -77.47% |
Max Drawdown (1Y)Largest decline over 1 year | -17.07% | -20.15% | +3.08% |
Max Drawdown (3Y)Largest decline over 3 years | -42.20% | -20.47% | -21.73% |
Max Drawdown (5Y)Largest decline over 5 years | -57.23% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -84.01% | — | — |
Current DrawdownCurrent decline from peak | -58.84% | -18.74% | -40.10% |
Average DrawdownAverage peak-to-trough decline | -73.65% | -4.83% | -68.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.37% | 11.58% | -6.21% |
Volatility
ADAM vs. PBDC - Volatility Comparison
Adamas Trust, Inc (ADAM) has a higher volatility of 29.77% compared to Putnam BDC Income ETF (PBDC) at 5.50%. This indicates that ADAM's price experiences larger fluctuations and is considered to be riskier than PBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ADAM | PBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.77% | 5.50% | +24.27% |
Volatility (6M)Calculated over the trailing 6-month period | 38.15% | 15.43% | +22.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.14% | 18.66% | +27.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.76% | 17.05% | +20.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.43% | 17.05% | +32.38% |
Dividends
ADAM vs. PBDC - Dividend Comparison
ADAM's dividend yield for the trailing twelve months is around 36.34%, more than PBDC's 11.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADAM Adamas Trust, Inc | 36.34% | 11.78% | 13.20% | 14.07% | 15.62% | 10.75% | 6.10% | 12.84% | 13.58% | 12.97% | 14.55% | 19.14% |
PBDC Putnam BDC Income ETF | 11.91% | 10.53% | 9.29% | 9.86% | 3.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ADAM and PBDC have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ADAM has higher volatility (29.77%) compared to PBDC (5.50%). In terms of maximum drawdown, ADAM dropped -97.94% vs PBDC's -20.47%.
ADAM currently has the higher Sharpe Ratio (2.46 vs -0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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