DIVI vs. PBDC
DIVI (Franklin International Core Dividend Tilt Index ETF) and PBDC (Putnam BDC Income ETF) are both exchange-traded funds - DIVI is a Foreign Large Cap Equities fund tracking the Morningstar Developed Markets ex-North America Dividend Enhanced Select Index, while PBDC is a Financials Equities fund actively managed by Franklin Templeton. DIVI is passively managed, while PBDC is actively managed. Over the past 3 years, DIVI returned 18.25%/yr vs 7.11%/yr for PBDC. At a 0.49 correlation, their price movements are largely independent. DIVI charges 0.09%/yr vs 13.49%/yr for PBDC.
Performance
DIVI vs. PBDC - Performance Comparison
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Returns By Period
In the year-to-date period, DIVI achieves a 10.71% return, which is significantly higher than PBDC's -11.42% return.
DIVI
- 1D
- -2.01%
- 1M
- -0.05%
- YTD
- 10.71%
- 6M
- 10.37%
- 1Y
- 26.90%
- 3Y*
- 18.25%
- 5Y*
- 13.30%
- 10Y*
- 11.73%
PBDC
- 1D
- 0.30%
- 1M
- -1.31%
- YTD
- -11.42%
- 6M
- -9.25%
- 1Y
- -11.33%
- 3Y*
- 7.11%
- 5Y*
- —
- 10Y*
- —
DIVI vs. PBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DIVI Franklin International Core Dividend Tilt Index ETF | 10.71% | 34.86% | 1.77% | 18.97% | 18.77% |
PBDC Putnam BDC Income ETF | -11.42% | -1.77% | 19.43% | 30.52% | 10.38% |
Correlation
The correlation between DIVI and PBDC is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.49 |
The correlation between DIVI and PBDC shifts across timeframes, from 0.37 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DIVI vs. PBDC — Risk / Return Rank
DIVI
PBDC
DIVI vs. PBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin International Core Dividend Tilt Index ETF (DIVI) 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.
| DIVI | PBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.37 | ||
| Sortino ratioReturn per unit of downside risk | +3.22 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.91 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | -0.56 | +3.13 |
| Martin ratioReturn relative to average drawdown | 9.86 | -0.98 | +10.84 |
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Drawdowns
DIVI vs. PBDC - Drawdown Comparison
The maximum DIVI drawdown since its inception was -27.76%, which is greater than PBDC's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for DIVI and PBDC.
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Drawdown Indicators
| DIVI | PBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.76% | -20.47% | -7.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.54% | -20.15% | +9.61% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | -20.47% | +5.89% |
Max Drawdown (5Y)Largest decline over 5 years | -18.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.76% | — | — |
Current DrawdownCurrent decline from peak | -2.01% | -18.74% | +16.73% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -4.83% | +1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 11.58% | -8.85% |
Volatility
DIVI vs. PBDC - Volatility Comparison
The current volatility for Franklin International Core Dividend Tilt Index ETF (DIVI) is 5.19%, while Putnam BDC Income ETF (PBDC) has a volatility of 5.50%. This indicates that DIVI experiences smaller price fluctuations and is considered to be less risky 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
| DIVI | PBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 5.50% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 12.95% | 15.43% | -2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.34% | 18.66% | -3.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 17.05% | -1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.36% | 17.05% | -0.69% |
DIVI vs. PBDC - Expense Ratio Comparison
DIVI has a 0.09% expense ratio, which is lower than PBDC's 13.49% expense ratio.
Dividends
DIVI vs. PBDC - Dividend Comparison
DIVI's dividend yield for the trailing twelve months is around 2.05%, less than PBDC's 11.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DIVI Franklin International Core Dividend Tilt Index ETF | 2.05% | 3.76% | 4.39% | 3.17% | 6.03% | 2.77% | 8.04% | 1.61% | 5.67% | 5.22% | 11.56% |
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% |
Frequently Asked Questions
DIVI and PBDC have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBDC has higher volatility (5.50%) compared to DIVI (5.19%). In terms of maximum drawdown, DIVI dropped -27.76% vs PBDC's -20.47%.
On 3-year performance, DIVI leads with 18.25% vs 7.11% for PBDC. On fees, DIVI is cheaper at 0.09% per year. On volatility, DIVI has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DIVI has performed better with a 18.25% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVI is cheaper with a 0.09% expense ratio, compared with 13.49% for PBDC.
PBDC has the higher dividend yield at 11.91%, compared with 2.05% for DIVI.
DIVI is categorized as Foreign Large Cap Equities, while PBDC is Financials Equities. Their fees differ too: 0.09% for DIVI and 13.49% for PBDC.
DIVI currently has the higher Sharpe Ratio (1.76 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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