FTNJ vs. PBDC
FTNJ (Franklin New Jersey Municipal Income ETF) and PBDC (Putnam BDC Income ETF) are both exchange-traded funds - FTNJ is a Municipal Bonds fund tracking the Actively Managed, while PBDC is a Financials Equities fund actively managed by Franklin Templeton. FTNJ is passively managed, while PBDC is actively managed. Their 0.17 correlation means their historical movements had little consistent relationship. FTNJ charges 0.35%/yr vs 13.49%/yr for PBDC.
Performance
FTNJ vs. PBDC - Performance Comparison
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Returns By Period
In the year-to-date period, FTNJ achieves a 0.82% return, which is significantly higher than PBDC's -9.20% return.
FTNJ
- 1D
- 0.12%
- 1M
- -1.70%
- 6M
- 0.36%
- YTD
- 0.82%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
PBDC
- 1D
- 0.11%
- 1M
- -1.02%
- 6M
- -8.00%
- YTD
- -9.20%
- 1Y
- -12.27%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.38M | $1.09M | $908.42K | |
| $3.46M | $3.16M | $3.71M |
FTNJ vs. PBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTNJ Franklin New Jersey Municipal Income ETF | 0.82% | 0.34% |
PBDC Putnam BDC Income ETF | -9.20% | 3.76% |
Correlation
The correlation between FTNJ and PBDC is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025 | 0.17 |
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Return for Risk
FTNJ vs. PBDC — Risk / Return Rank
FTNJ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PBDC
FTNJ vs. PBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin New Jersey Municipal Income ETF (FTNJ) 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.
| FTNJ | PBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.90 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.75 | — |
| Martin ratioReturn relative to average drawdown | — | -1.28 | — |
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Drawdowns
FTNJ vs. PBDC - Drawdown Comparison
The maximum FTNJ drawdown since its inception was -2.72%, smaller than the maximum PBDC drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for FTNJ and PBDC.
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Drawdown Indicators
| FTNJ | PBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.72% | -20.47% | +17.75% |
Max Drawdown (1Y)Largest decline over 1 year | — | -17.71% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.47% | — |
Current DrawdownCurrent decline from peak | -1.70% | -16.71% | +15.01% |
Average DrawdownAverage peak-to-trough decline | -0.58% | -5.16% | +4.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 10.32% | — |
Volatility
FTNJ vs. PBDC - Volatility Comparison
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Volatility by Period
| FTNJ | PBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.35% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.20% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.25% | 18.87% | -15.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.25% | 17.00% | -13.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.25% | 17.00% | -13.75% |
FTNJ vs. PBDC - Expense Ratio Comparison
FTNJ has a 0.35% expense ratio, which is lower than PBDC's 13.49% expense ratio.
Dividends
FTNJ vs. PBDC - Dividend Comparison
FTNJ's dividend yield for the trailing twelve months is around 2.30%, less than PBDC's 11.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FTNJ Franklin New Jersey Municipal Income ETF | 2.30% | 0.54% | 0.00% | 0.00% | 0.00% |
PBDC Putnam BDC Income ETF | 11.58% | 10.53% | 9.29% | 9.86% | 3.40% |
Frequently Asked Questions
FTNJ and PBDC have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FTNJ is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FTNJ is cheaper with a 0.35% expense ratio, compared with 13.49% for PBDC.
PBDC has the higher dividend yield at 11.58%, compared with 2.30% for FTNJ.
FTNJ is categorized as Municipal Bonds, while PBDC is Financials Equities. Their fees differ too: 0.35% for FTNJ and 13.49% for PBDC.
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