GBDC vs. ARCC
Compare and contrast key facts about Golub Capital BDC, Inc. (GBDC) and Ares Capital Corporation (ARCC).
Performance
GBDC vs. ARCC - Performance Comparison
Loading graphics...
GBDC vs. ARCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | -5.31% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | -14.73% | 21.09% | -2.20% | 6.27% |
ARCC Ares Capital Corporation | -9.97% | 1.07% | 19.78% | 20.03% | -3.84% | 36.14% | 0.86% | 31.30% | 8.81% | 4.50% |
Fundamentals
GBDC:
$3.30B
ARCC:
$12.39B
GBDC:
$1.36
ARCC:
$1.64
GBDC:
9.20
ARCC:
10.82
GBDC:
5.17
ARCC:
1.62
GBDC:
4.69
ARCC:
6.60
GBDC:
0.84
ARCC:
0.87
GBDC:
$708.34M
ARCC:
$1.88B
GBDC:
$510.52M
ARCC:
$1.18B
GBDC:
$338.37M
ARCC:
$1.08B
Returns By Period
In the year-to-date period, GBDC achieves a -5.31% return, which is significantly higher than ARCC's -9.97% return. Over the past 10 years, GBDC has underperformed ARCC with an annualized return of 6.13%, while ARCC has yielded a comparatively higher 11.74% annualized return.
GBDC
- 1D
- -1.26%
- 1M
- 4.64%
- YTD
- -5.31%
- 6M
- -2.21%
- 1Y
- -8.43%
- 3Y*
- 8.99%
- 5Y*
- 6.61%
- 10Y*
- 6.13%
ARCC
- 1D
- -1.61%
- 1M
- -4.04%
- YTD
- -9.97%
- 6M
- -7.39%
- 1Y
- -12.64%
- 3Y*
- 8.76%
- 5Y*
- 8.39%
- 10Y*
- 11.74%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GBDC vs. ARCC — Risk / Return Rank
GBDC
ARCC
GBDC vs. ARCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) and Ares Capital Corporation (ARCC). 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.
| GBDC | ARCC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.39 | -0.54 | +0.15 |
Sortino ratioReturn per unit of downside risk | -0.42 | -0.63 | +0.21 |
Omega ratioGain probability vs. loss probability | 0.95 | 0.92 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | -0.44 | -0.63 | +0.19 |
Martin ratioReturn relative to average drawdown | -0.98 | -1.29 | +0.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| GBDC | ARCC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.39 | -0.54 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.42 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.46 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.37 | +0.01 |
Correlation
The correlation between GBDC and ARCC is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
GBDC vs. ARCC - Dividend Comparison
GBDC's dividend yield for the trailing twelve months is around 12.00%, more than ARCC's 10.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 12.00% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
ARCC Ares Capital Corporation | 10.83% | 9.49% | 8.77% | 9.59% | 10.12% | 7.65% | 9.47% | 9.01% | 9.88% | 9.67% | 9.22% | 11.02% |
Drawdowns
GBDC vs. ARCC - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, smaller than the maximum ARCC drawdown of -79.36%. Use the drawdown chart below to compare losses from any high point for GBDC and ARCC.
Loading graphics...
Drawdown Indicators
| GBDC | ARCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -79.36% | +32.06% |
Max Drawdown (1Y)Largest decline over 1 year | -18.20% | -19.35% | +1.15% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -21.76% | +2.48% |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | -56.77% | +9.47% |
Current DrawdownCurrent decline from peak | -12.34% | -18.05% | +5.71% |
Average DrawdownAverage peak-to-trough decline | -6.12% | -9.07% | +2.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.20% | 9.40% | -1.20% |
Volatility
GBDC vs. ARCC - Volatility Comparison
Golub Capital BDC, Inc. (GBDC) has a higher volatility of 7.20% compared to Ares Capital Corporation (ARCC) at 6.78%. This indicates that GBDC's price experiences larger fluctuations and is considered to be riskier than ARCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| GBDC | ARCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.20% | 6.78% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 14.63% | 15.24% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.59% | 23.54% | -1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.86% | 19.89% | -3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.39% | 25.53% | -4.14% |
Financials
GBDC vs. ARCC - Financials Comparison
This section allows you to compare key financial metrics between Golub Capital BDC, Inc. and Ares Capital 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
GBDC vs. ARCC - Profitability Comparison
GBDC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Golub Capital BDC, Inc. reported a gross profit of 0.00 and revenue of 203.49M. Therefore, the gross margin over that period was 0.0%.
ARCC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Ares Capital Corporation reported a gross profit of 43.48M and revenue of 202.00M. Therefore, the gross margin over that period was 21.5%.
GBDC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Golub Capital BDC, Inc. reported an operating income of 0.00 and revenue of 203.49M, resulting in an operating margin of 0.0%.
ARCC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Ares Capital Corporation reported an operating income of 26.85M and revenue of 202.00M, resulting in an operating margin of 13.3%.
GBDC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Golub Capital BDC, Inc. reported a net income of 95.76M and revenue of 203.49M, resulting in a net margin of 47.1%.
ARCC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Ares Capital Corporation reported a net income of 142.36M and revenue of 202.00M, resulting in a net margin of 70.5%.