FTNY vs. PBDC
FTNY (Franklin New York Municipal Income ETF) and PBDC (Putnam BDC Income ETF) are both exchange-traded funds - FTNY is a Municipal Bonds fund actively managed by Franklin Templeton, while PBDC is a Financials Equities fund actively managed by Franklin Templeton. Both are actively managed. Their 0.17 correlation means their historical movements had little consistent relationship. FTNY charges 0.36%/yr vs 13.49%/yr for PBDC.
Performance
FTNY vs. PBDC - Performance Comparison
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Returns By Period
In the year-to-date period, FTNY achieves a 1.56% return, which is significantly higher than PBDC's -7.13% return.
FTNY
- 1D
- 0.13%
- 1M
- -1.87%
- 6M
- 0.73%
- YTD
- 1.56%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
PBDC
- 1D
- -2.00%
- 1M
- 1.64%
- 6M
- -2.35%
- YTD
- -7.13%
- 1Y
- -10.52%
- 3Y*
- 5.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.07M | $1.35M | $1.42M | |
| $2.86M | $3.11M | $3.67M |
FTNY vs. PBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTNY Franklin New York Municipal Income ETF | 1.56% | -0.24% |
PBDC Putnam BDC Income ETF | -7.13% | 2.51% |
Correlation
The correlation between FTNY 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 Oct 27, 2025 | 0.17 |
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Return for Risk
FTNY vs. PBDC — Risk / Return Rank
FTNY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PBDC
FTNY vs. PBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin New York Municipal Income ETF (FTNY) 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.
| FTNY | PBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.93 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.60 | — |
| Martin ratioReturn relative to average drawdown | — | -1.01 | — |
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Drawdowns
FTNY vs. PBDC - Drawdown Comparison
The maximum FTNY drawdown since its inception was -3.08%, smaller than the maximum PBDC drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for FTNY and PBDC.
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Drawdown Indicators
| FTNY | PBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.08% | -20.47% | +17.39% |
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 | -1.87% | -14.81% | +12.94% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -5.18% | +4.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 10.39% | — |
Volatility
FTNY vs. PBDC - Volatility Comparison
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Volatility by Period
| FTNY | PBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.72% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.31% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 19.21% | -15.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.11% | 17.08% | -12.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.11% | 17.08% | -12.97% |
FTNY vs. PBDC - Expense Ratio Comparison
FTNY has a 0.36% expense ratio, which is lower than PBDC's 13.49% expense ratio.
Dividends
FTNY vs. PBDC - Dividend Comparison
FTNY's dividend yield for the trailing twelve months is around 3.00%, less than PBDC's 11.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FTNY Franklin New York Municipal Income ETF | 3.00% | 0.72% | 0.00% | 0.00% | 0.00% |
PBDC Putnam BDC Income ETF | 11.32% | 10.53% | 9.29% | 9.86% | 3.40% |
Frequently Asked Questions
FTNY 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, FTNY is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FTNY is cheaper with a 0.36% expense ratio, compared with 13.49% for PBDC.
PBDC has the higher dividend yield at 11.32%, compared with 3.00% for FTNY.
FTNY is categorized as Municipal Bonds, while PBDC is Financials Equities. Their fees differ too: 0.36% for FTNY and 13.49% for PBDC.
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