CGBD vs. GBDC
CGBD (TCG BDC, Inc.) and GBDC (Golub Capital BDC, Inc.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 5 years, CGBD returned 6.84%/yr vs 5.77%/yr for GBDC. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
CGBD vs. GBDC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CGBD achieves a -12.43% return, which is significantly lower than GBDC's -4.06% return.
CGBD
- 1D
- -1.59%
- 1M
- -1.22%
- YTD
- -12.43%
- 6M
- -10.02%
- 1Y
- -13.81%
- 3Y*
- 1.11%
- 5Y*
- 6.84%
- 10Y*
- —
GBDC
- 1D
- 0.24%
- 1M
- -1.75%
- YTD
- -4.06%
- 6M
- -2.99%
- 1Y
- -4.72%
- 3Y*
- 9.64%
- 5Y*
- 5.77%
- 10Y*
- 5.88%
CGBD vs. GBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGBD TCG BDC, Inc. | -12.43% | -21.53% | 33.53% | 18.01% | 17.70% | 49.48% | -8.34% | 21.62% | -31.01% | 20.23% |
GBDC Golub Capital BDC, Inc. | -4.06% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | -14.73% | 21.09% | -2.20% | -2.67% |
Correlation
The correlation between CGBD and GBDC is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017 | 0.52 |
The correlation between CGBD and GBDC shifts across timeframes, from 0.52 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
CGBD:
$1.02
GBDC:
$0.95
CGBD:
10.33
GBDC:
13.02
CGBD:
2.55
GBDC:
3.93
CGBD:
$226.59M
GBDC:
$831.29M
CGBD:
$123.55M
GBDC:
$525.36M
CGBD:
$85.61M
GBDC:
$506.70M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CGBD vs. GBDC — Risk / Return Rank
CGBD
GBDC
CGBD vs. GBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCG BDC, Inc. (CGBD) and Golub Capital BDC, Inc. (GBDC). 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.
| CGBD | GBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.97 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | -0.26 | -0.44 |
| Martin ratioReturn relative to average drawdown | -1.33 | -0.54 | -0.79 |
Loading charts...
Drawdowns
CGBD vs. GBDC - Drawdown Comparison
The maximum CGBD drawdown since its inception was -71.09%, which is greater than GBDC's maximum drawdown of -47.30%. Use the drawdown chart below to compare losses from any high point for CGBD and GBDC.
Loading charts...
Drawdown Indicators
| CGBD | GBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.09% | -47.30% | -23.79% |
Max Drawdown (1Y)Largest decline over 1 year | -19.72% | -18.20% | -1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -35.06% | -18.20% | -16.86% |
Max Drawdown (5Y)Largest decline over 5 years | -35.06% | -19.28% | -15.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.30% | — |
Current DrawdownCurrent decline from peak | -33.62% | -11.18% | -22.44% |
Average DrawdownAverage peak-to-trough decline | -12.58% | -6.14% | -6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.41% | 8.72% | +1.69% |
Volatility
CGBD vs. GBDC - Volatility Comparison
TCG BDC, Inc. (CGBD) has a higher volatility of 6.74% compared to Golub Capital BDC, Inc. (GBDC) at 6.19%. This indicates that CGBD's price experiences larger fluctuations and is considered to be riskier than GBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CGBD | GBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 6.19% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 17.73% | 16.23% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.08% | 19.22% | +2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.63% | 17.19% | +4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.66% | 21.59% | +13.07% |
Dividends
CGBD vs. GBDC - Dividend Comparison
CGBD's dividend yield for the trailing twelve months is around 15.17%, more than GBDC's 11.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGBD TCG BDC, Inc. | 15.17% | 13.21% | 10.43% | 11.76% | 11.46% | 10.92% | 14.33% | 13.00% | 13.55% | 6.09% | 0.00% | 0.00% |
GBDC Golub Capital BDC, Inc. | 11.66% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
Financials
CGBD vs. GBDC - Financials Comparison
This section allows you to compare key financial metrics between TCG BDC, Inc. and Golub Capital BDC, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CGBD vs. GBDC - Profitability Comparison
CGBD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TCG BDC, Inc. reported a gross profit of 0.00 and revenue of 64.08M. Therefore, the gross margin over that period was 0.0%.
GBDC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Golub Capital BDC, Inc. reported a gross profit of 0.00 and revenue of 184.79M. Therefore, the gross margin over that period was 0.0%.
CGBD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TCG BDC, Inc. reported an operating income of 0.00 and revenue of 64.08M, resulting in an operating margin of 0.0%.
GBDC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Golub Capital BDC, Inc. reported an operating income of 0.00 and revenue of 184.79M, resulting in an operating margin of 0.0%.
CGBD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TCG BDC, Inc. reported a net income of 0.00 and revenue of 64.08M, resulting in a net margin of 0.0%.
GBDC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Golub Capital BDC, Inc. reported a net income of 0.00 and revenue of 184.79M, resulting in a net margin of 0.0%.
Frequently Asked Questions
CGBD and GBDC have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CGBD has higher volatility (6.74%) compared to GBDC (6.19%). In terms of maximum drawdown, CGBD dropped -71.09% vs GBDC's -47.30%.
GBDC currently has the higher Sharpe Ratio (-0.25 vs -0.63), 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.
Find the right allocation for CGBD and GBDC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer