GBDC vs. GSBD
GBDC (Golub Capital BDC, Inc.) and GSBD (Goldman Sachs BDC, Inc.) are both stocks. Both are in the Financial Services sector — GBDC in Asset Management, GSBD in Credit Services. Over the past 10 years, GBDC returned 5.86%/yr vs 3.59%/yr for GSBD. At a 0.48 correlation, their price movements are largely independent.
Performance
GBDC vs. GSBD - Performance Comparison
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Returns By Period
In the year-to-date period, GBDC achieves a -4.30% return, which is significantly lower than GSBD's 5.68% return. Over the past 10 years, GBDC has outperformed GSBD with an annualized return of 5.86%, while GSBD has yielded a comparatively lower 3.59% annualized return.
GBDC
- 1D
- 0.24%
- 1M
- -1.99%
- YTD
- -4.30%
- 6M
- -2.57%
- 1Y
- -3.75%
- 3Y*
- 9.55%
- 5Y*
- 5.61%
- 10Y*
- 5.86%
GSBD
- 1D
- 1.07%
- 1M
- 6.43%
- YTD
- 5.68%
- 6M
- 6.12%
- 1Y
- -2.19%
- 3Y*
- 1.51%
- 5Y*
- -2.59%
- 10Y*
- 3.59%
GBDC vs. GSBD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | -4.30% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | -14.73% | 21.09% | -2.20% | 6.27% |
GSBD Goldman Sachs BDC, Inc. | 5.68% | -8.81% | -6.24% | 20.97% | -20.13% | 10.85% | 0.71% | 26.36% | -9.44% | 1.96% |
Correlation
The correlation between GBDC and GSBD is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2015 | 0.49 |
The correlation between GBDC and GSBD shifts across timeframes, from 0.48 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
GBDC:
$3.24B
GSBD:
$1.06B
GBDC:
$0.95
GSBD:
$0.98
GBDC:
12.99
GSBD:
9.63
GBDC:
7.31
GSBD:
0.21
GBDC:
3.92
GSBD:
3.78
GBDC:
0.86
GSBD:
0.77
GBDC:
$831.29M
GSBD:
$286.69M
GBDC:
$525.36M
GSBD:
$141.38M
GBDC:
$506.70M
GSBD:
$164.11M
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Return for Risk
GBDC vs. GSBD — Risk / Return Rank
GBDC
GSBD
GBDC vs. GSBD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) and Goldman Sachs BDC, Inc. (GSBD). 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.
| GBDC | GSBD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.00 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | -0.12 | -0.09 |
| Martin ratioReturn relative to average drawdown | -0.43 | -0.18 | -0.26 |
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Drawdowns
GBDC vs. GSBD - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, smaller than the maximum GSBD drawdown of -62.67%. Use the drawdown chart below to compare losses from any high point for GBDC and GSBD.
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Drawdown Indicators
| GBDC | GSBD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -62.67% | +15.37% |
Max Drawdown (1Y)Largest decline over 1 year | -18.20% | -18.41% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -29.59% | +11.39% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -29.59% | +10.31% |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | -62.67% | +15.37% |
Current DrawdownCurrent decline from peak | -11.40% | -19.95% | +8.55% |
Average DrawdownAverage peak-to-trough decline | -6.14% | -11.74% | +5.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.70% | 12.40% | -3.70% |
Volatility
GBDC vs. GSBD - Volatility Comparison
Golub Capital BDC, Inc. (GBDC) and Goldman Sachs BDC, Inc. (GSBD) have volatilities of 6.20% and 6.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBDC | GSBD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 6.21% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 16.23% | 16.59% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.38% | 20.56% | -1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 19.29% | -2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.60% | 31.03% | -9.43% |
Dividends
GBDC vs. GSBD - Dividend Comparison
GBDC's dividend yield for the trailing twelve months is around 11.69%, less than GSBD's 18.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 11.69% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
GSBD Goldman Sachs BDC, Inc. | 18.03% | 20.26% | 14.88% | 12.29% | 13.12% | 10.18% | 9.41% | 8.46% | 9.79% | 8.12% | 7.65% | 9.47% |
Financials
GBDC vs. GSBD - Financials Comparison
This section allows you to compare key financial metrics between Golub Capital BDC, Inc. and Goldman Sachs BDC, Inc.. 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. GSBD - Profitability Comparison
GBDC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Golub Capital BDC, Inc. reported a gross profit of 0.00 and revenue of 184.79M. Therefore, the gross margin over that period was 0.0%.
GSBD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Goldman Sachs BDC, Inc. reported a gross profit of 0.00 and revenue of 78.79M. Therefore, the gross margin over that period was 0.0%.
GBDC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Golub Capital BDC, Inc. reported an operating income of 0.00 and revenue of 184.79M, resulting in an operating margin of 0.0%.
GSBD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Goldman Sachs BDC, Inc. reported an operating income of 0.00 and revenue of 78.79M, resulting in an operating margin of 0.0%.
GBDC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Golub Capital BDC, Inc. reported a net income of 0.00 and revenue of 184.79M, resulting in a net margin of 0.0%.
GSBD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Goldman Sachs BDC, Inc. reported a net income of 24.79M and revenue of 78.79M, resulting in a net margin of 31.5%.
Frequently Asked Questions
GBDC and GSBD have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSBD has higher volatility (6.21%) compared to GBDC (6.20%). In terms of maximum drawdown, GBDC dropped -47.30% vs GSBD's -62.67%.
GSBD currently has the higher Sharpe Ratio (-0.11 vs -0.20), 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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