GBDC vs. VOO
GBDC (Golub Capital BDC, Inc.) is a stock, while VOO (Vanguard S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, GBDC returned 5.67%/yr vs 15.14%/yr for VOO. Their 0.39 correlation means their historical movements had little consistent relationship.
Performance
GBDC vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, GBDC achieves a -0.33% return, which is significantly lower than VOO's 10.16% return. Over the past 10 years, GBDC has underperformed VOO with an annualized return of 5.67%, while VOO has yielded a comparatively higher 15.14% annualized return.
GBDC
- 1D
- -0.08%
- 1M
- -1.23%
- 6M
- 1.01%
- YTD
- -0.33%
- 1Y
- -2.97%
- 3Y*
- 8.93%
- 5Y*
- 6.34%
- 10Y*
- 5.67%
- ALL TIME*
- 8.25%
VOO
- 1D
- 0.71%
- 1M
- 0.26%
- 6M
- 8.58%
- YTD
- 10.16%
- 1Y
- 21.58%
- 3Y*
- 19.42%
- 5Y*
- 12.83%
- 10Y*
- 15.14%
- ALL TIME*
- 14.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.46M | $11.76M | $15.35M | |
| $3.82B | $3.78B | $5.44B |
GBDC vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | -0.33% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | -14.73% | 21.09% | -2.20% | 6.27% |
VOO Vanguard S&P 500 ETF | 10.16% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between GBDC and VOO is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.39 |
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Return for Risk
GBDC vs. VOO — Risk / Return Rank
GBDC
VOO
GBDC vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.28 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 2.21 | -2.51 |
| Martin ratioReturn relative to average drawdown | -0.74 | 9.44 | -10.18 |
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Drawdowns
GBDC vs. VOO - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for GBDC and VOO.
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Drawdown Indicators
| GBDC | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -33.99% | -13.31% |
Max Drawdown (1Y)Largest decline over 1 year | -15.13% | -8.90% | -6.23% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -18.69% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -24.52% | +5.24% |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | -33.99% | -13.31% |
Current DrawdownCurrent decline from peak | -7.73% | -1.38% | -6.35% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -3.67% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.29% | 2.08% | +4.21% |
Volatility
GBDC vs. VOO - Volatility Comparison
Golub Capital BDC, Inc. (GBDC) has a higher volatility of 4.47% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that GBDC's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBDC | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 3.54% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 16.18% | 10.10% | +6.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.26% | 12.82% | +6.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.24% | 16.93% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.63% | 18.01% | +3.62% |
Dividends
GBDC vs. VOO - Dividend Comparison
GBDC's dividend yield for the trailing twelve months is around 11.22%, more than VOO's 1.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 11.22% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
VOO Vanguard S&P 500 ETF | 1.07% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
GBDC and VOO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBDC has higher volatility (4.47%) compared to VOO (3.54%). In terms of maximum drawdown, GBDC dropped -47.30% vs VOO's -33.99%.
VOO currently has the higher Sharpe Ratio (1.53 vs -0.24), 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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