EZPZ vs. PBDC

Last updated Jun 25, 2026

EZPZ (Franklin Crypto Index ETF) and PBDC (Putnam BDC Income ETF) are both exchange-traded funds - EZPZ is a Cryptocurrency fund tracking the CF Institutional Digital Asset Index – US-Settlement Price, while PBDC is a Financials Equities fund actively managed by Franklin Templeton. EZPZ is passively managed, while PBDC is actively managed. Over the past year, EZPZ returned -44.21% vs -12.95% for PBDC. At a 0.34 correlation, their price movements are largely independent. EZPZ charges 0.19%/yr vs 13.49%/yr for PBDC.

Performance

EZPZ vs. PBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Crypto Index ETF (EZPZ) and Putnam BDC Income ETF (PBDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZPZ achieves a -34.99% return, which is significantly lower than PBDC's -12.12% return.

EZPZ

• 1D: -4.26%
• 1M: -21.70%
• YTD: -34.99%
• 6M: -35.02%
• 1Y: -44.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBDC

• 1D: -0.80%
• 1M: -2.09%
• YTD: -12.12%
• 6M: -10.84%
• 1Y: -12.95%
• 3Y*: 6.83%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EZPZ vs. PBDC - Yearly Performance Comparison

	2026 (YTD)	2025
EZPZ Franklin Crypto Index ETF	-34.99%	-10.11%
PBDC Putnam BDC Income ETF	-12.12%	-8.27%

Correlation

The correlation between EZPZ and PBDC is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.34

Return for Risk

EZPZ vs. PBDC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EZPZ

EZPZ Risk / Return Rank: 2
EZPZ Sharpe Ratio Rank: 2
EZPZ Sortino Ratio Rank: 2
EZPZ Omega Ratio Rank: 2
EZPZ Calmar Ratio Rank: 2
EZPZ Martin Ratio Rank: 2

PBDC

PBDC Risk / Return Rank: 4
PBDC Sharpe Ratio Rank: 4
PBDC Sortino Ratio Rank: 4
PBDC Omega Ratio Rank: 4
PBDC Calmar Ratio Rank: 4
PBDC Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EZPZ vs. PBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Crypto Index ETF (EZPZ) 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.

	EZPZ	PBDC	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	-0.70	-0.23
Sortino ratio: Return per unit of downside risk	-1.33	-0.89	-0.44
Omega ratio: Gain probability vs. loss probability	0.85	0.90	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.79	-0.65	-0.14
Martin ratio: Return relative to average drawdown	-1.34	-1.11	-0.23

EZPZ vs. PBDC - Sharpe Ratio Comparison

The current EZPZ Sharpe Ratio is -0.93, which is lower than the PBDC Sharpe Ratio of -0.70. The chart below compares the historical Sharpe Ratios of EZPZ and PBDC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EZPZ vs. PBDC - Drawdown Comparison

The maximum EZPZ drawdown since its inception was -56.16%, which is greater than PBDC's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for EZPZ and PBDC.

Drawdown Indicators

	EZPZ	PBDC	Difference
Max Drawdown Largest peak-to-trough decline	-56.16%	-20.47%	-35.69%
Max Drawdown (1Y) Largest decline over 1 year	-56.16%	-20.15%	-36.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.47%	—
Current Drawdown Current decline from peak	-56.16%	-19.39%	-36.77%
Average Drawdown Average peak-to-trough decline	-22.97%	-4.85%	-18.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.93%	11.64%	+21.29%

Volatility

EZPZ vs. PBDC - Volatility Comparison

Franklin Crypto Index ETF (EZPZ) has a higher volatility of 14.55% compared to Putnam BDC Income ETF (PBDC) at 5.45%. This indicates that EZPZ'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.

Volatility by Period

	EZPZ	PBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.55%	5.45%	+9.10%
Volatility (6M) Calculated over the trailing 6-month period	37.08%	15.43%	+21.65%
Volatility (1Y) Calculated over the trailing 1-year period	47.87%	18.65%	+29.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.93%	17.05%	+30.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.93%	17.05%	+30.88%

EZPZ vs. PBDC - Expense Ratio Comparison

EZPZ has a 0.19% expense ratio, which is lower than PBDC's 13.49% expense ratio.

Dividends

EZPZ vs. PBDC - Dividend Comparison

EZPZ has not paid dividends to shareholders, while PBDC's dividend yield for the trailing twelve months is around 12.00%.

Position	TTM	2025	2024	2023	2022
EZPZ Franklin Crypto Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%
PBDC Putnam BDC Income ETF	12.00%	10.53%	9.29%	9.86%	3.40%

Frequently Asked Questions

Can I hold both EZPZ and PBDC in my portfolio?

EZPZ and PBDC have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZPZ or PBDC?

EZPZ has higher volatility (14.55%) compared to PBDC (5.45%). In terms of maximum drawdown, EZPZ dropped -56.16% vs PBDC's -20.47%.

Which ETF is better, EZPZ or PBDC?

On 1-year performance, PBDC leads with -12.95% vs -44.21% for EZPZ. On fees, EZPZ is cheaper at 0.19% per year. On volatility, PBDC has been the lower-risk option at 5.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZPZ or PBDC?

Over the 1-year period, PBDC has performed better with a -12.95% return vs -44.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZPZ or PBDC?

EZPZ is cheaper with a 0.19% expense ratio, compared with 13.49% for PBDC.

Which ETF pays a higher dividend yield, EZPZ or PBDC?

PBDC has the higher dividend yield at 12.00%, compared with 0.00% for EZPZ.

What is the main difference between EZPZ and PBDC?

EZPZ is categorized as Cryptocurrency, while PBDC is Financials Equities. Their fees differ too: 0.19% for EZPZ and 13.49% for PBDC.

Which has better risk-adjusted returns?

PBDC currently has the higher Sharpe Ratio (-0.70 vs -0.93), 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.