CGBD vs. PNNT
CGBD (TCG BDC, Inc.) and PNNT (PennantPark Investment Corporation) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 5 years, CGBD returned 7.09%/yr vs 2.32%/yr for PNNT. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
CGBD vs. PNNT - Performance Comparison
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Returns By Period
In the year-to-date period, CGBD achieves a -10.44% return, which is significantly higher than PNNT's -26.56% return.
CGBD
- 1D
- 1.98%
- 1M
- -10.75%
- YTD
- -10.44%
- 6M
- -10.74%
- 1Y
- -11.72%
- 3Y*
- 2.34%
- 5Y*
- 7.09%
- 10Y*
- —
PNNT
- 1D
- 3.60%
- 1M
- -15.48%
- YTD
- -26.56%
- 6M
- -23.09%
- 1Y
- -28.65%
- 3Y*
- 4.30%
- 5Y*
- 2.32%
- 10Y*
- 7.30%
CGBD vs. PNNT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGBD TCG BDC, Inc. | -10.44% | -21.53% | 33.53% | 18.01% | 17.70% | 49.48% | -8.34% | 21.62% | -31.01% | 18.17% |
PNNT PennantPark Investment Corporation | -26.56% | -2.96% | 16.56% | 37.25% | -8.90% | 61.71% | -17.99% | 14.30% | 2.05% | -2.10% |
Correlation
The correlation between CGBD and PNNT is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017 | 0.51 |
The correlation between CGBD and PNNT has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.
Fundamentals
CGBD:
$1.02
PNNT:
$302.41
CGBD:
10.56
PNNT:
0.01
CGBD:
2.61
PNNT:
2.31
CGBD:
$226.59M
PNNT:
$85.01M
CGBD:
$123.55M
PNNT:
$24.12M
CGBD:
$85.61M
PNNT:
$16.10M
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Return for Risk
CGBD vs. PNNT — Risk / Return Rank
CGBD
PNNT
CGBD vs. PNNT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCG BDC, Inc. (CGBD) and PennantPark Investment Corporation (PNNT). 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.
| CGBD | PNNT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.82 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | -0.67 | +0.08 |
| Martin ratioReturn relative to average drawdown | -1.20 | -1.46 | +0.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CGBD | PNNT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | -1.07 | +0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.10 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.14 | +0.05 |
Drawdowns
CGBD vs. PNNT - Drawdown Comparison
The maximum CGBD drawdown since its inception was -71.09%, smaller than the maximum PNNT drawdown of -82.16%. Use the drawdown chart below to compare losses from any high point for CGBD and PNNT.
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Drawdown Indicators
| CGBD | PNNT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.09% | -82.16% | +11.07% |
Max Drawdown (1Y)Largest decline over 1 year | -19.72% | -42.61% | +22.89% |
Max Drawdown (3Y)Largest decline over 3 years | -35.06% | -42.61% | +7.55% |
Max Drawdown (5Y)Largest decline over 5 years | -35.06% | -42.61% | +7.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -69.14% | — |
Current DrawdownCurrent decline from peak | -32.11% | -37.49% | +5.38% |
Average DrawdownAverage peak-to-trough decline | -12.48% | -15.27% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.77% | 19.59% | -9.82% |
Volatility
CGBD vs. PNNT - Volatility Comparison
The current volatility for TCG BDC, Inc. (CGBD) is 6.49%, while PennantPark Investment Corporation (PNNT) has a volatility of 14.23%. This indicates that CGBD experiences smaller price fluctuations and is considered to be less risky than PNNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGBD | PNNT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.49% | 14.23% | -7.74% |
Volatility (6M)Calculated over the trailing 6-month period | 17.51% | 23.63% | -6.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.77% | 26.82% | -5.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.59% | 23.72% | -2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.73% | 32.73% | +2.00% |
Dividends
CGBD vs. PNNT - Dividend Comparison
CGBD's dividend yield for the trailing twelve months is around 14.83%, less than PNNT's 23.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGBD TCG BDC, Inc. | 14.83% | 13.21% | 10.43% | 11.76% | 11.46% | 10.92% | 14.33% | 13.00% | 13.55% | 6.09% | 0.00% | 0.00% |
PNNT PennantPark Investment Corporation | 23.82% | 16.11% | 12.85% | 11.65% | 10.43% | 6.93% | 11.71% | 11.03% | 11.30% | 10.42% | 14.62% | 18.12% |
Financials
CGBD vs. PNNT - Financials Comparison
This section allows you to compare key financial metrics between TCG BDC, Inc. and PennantPark Investment Corporation. 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
Frequently Asked Questions
CGBD and PNNT have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PNNT has higher volatility (14.23%) compared to CGBD (6.49%). In terms of maximum drawdown, CGBD dropped -71.09% vs PNNT's -82.16%.
CGBD currently has the higher Sharpe Ratio (-0.54 vs -1.07), 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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