GBDC vs. QQQM
GBDC (Golub Capital BDC, Inc.) is a stock, while QQQM (Invesco NASDAQ 100 ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, GBDC returned 6.81%/yr vs 16.94%/yr for QQQM. At a 0.37 correlation, their price movements are largely independent.
Performance
GBDC vs. QQQM - Performance Comparison
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Returns By Period
In the year-to-date period, GBDC achieves a 0.68% return, which is significantly lower than QQQM's 17.59% return.
GBDC
- 1D
- -0.30%
- 1M
- 1.53%
- YTD
- 0.68%
- 6M
- -0.71%
- 1Y
- -2.64%
- 3Y*
- 10.34%
- 5Y*
- 6.81%
- 10Y*
- 6.73%
QQQM
- 1D
- 0.67%
- 1M
- 0.97%
- YTD
- 17.59%
- 6M
- 17.91%
- 1Y
- 35.90%
- 3Y*
- 26.52%
- 5Y*
- 16.94%
- 10Y*
- —
GBDC vs. QQQM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 0.68% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | 5.39% |
QQQM Invesco NASDAQ 100 ETF | 17.59% | 20.85% | 25.68% | 55.01% | -32.52% | 27.45% | 6.64% |
Correlation
The correlation between GBDC and QQQM is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020 | 0.37 |
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Return for Risk
GBDC vs. QQQM — Risk / Return Rank
GBDC
QQQM
GBDC vs. QQQM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) and Invesco NASDAQ 100 ETF (QQQM). 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 | QQQM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.37 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | 3.02 | -3.16 |
| Martin ratioReturn relative to average drawdown | -0.31 | 11.23 | -11.54 |
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Drawdowns
GBDC vs. QQQM - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for GBDC and QQQM.
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Drawdown Indicators
| GBDC | QQQM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -35.04% | -12.26% |
Max Drawdown (1Y)Largest decline over 1 year | -18.20% | -11.96% | -6.24% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -22.70% | +4.50% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -35.04% | +15.76% |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | — | — |
Current DrawdownCurrent decline from peak | -6.79% | -3.33% | -3.46% |
Average DrawdownAverage peak-to-trough decline | -6.13% | -8.23% | +2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.56% | 3.21% | +5.35% |
Volatility
GBDC vs. QQQM - Volatility Comparison
The current volatility for Golub Capital BDC, Inc. (GBDC) is 5.60%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 7.45%. This indicates that GBDC experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBDC | QQQM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 7.45% | -1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 15.83% | 13.71% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.15% | 17.11% | +2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 22.40% | -5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 22.22% | -0.66% |
Dividends
GBDC vs. QQQM - Dividend Comparison
GBDC's dividend yield for the trailing twelve months is around 11.29%, more than QQQM's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 11.29% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
QQQM Invesco NASDAQ 100 ETF | 0.43% | 0.50% | 0.61% | 0.65% | 0.83% | 0.40% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBDC and QQQM have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQM has higher volatility (7.45%) compared to GBDC (5.60%). In terms of maximum drawdown, GBDC dropped -47.30% vs QQQM's -35.04%.
QQQM currently has the higher Sharpe Ratio (2.11 vs -0.14), 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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