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GBDC vs. VOOG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GBDC vs. VOOG

Last updated Jun 13, 2026

GBDC (Golub Capital BDC, Inc.) is a stock, while VOOG (Vanguard S&P 500 Growth ETF) is S&P 500 fund tracking the S&P 500 Growth Index. Over the past 10 years, GBDC returned 6.73%/yr vs 17.86%/yr for VOOG. At a 0.35 correlation, their price movements are largely independent.

Performance

GBDC vs. VOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Golub Capital BDC, Inc. (GBDC) and Vanguard S&P 500 Growth ETF (VOOG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GBDC achieves a 0.68% return, which is significantly lower than VOOG's 9.67% return. Over the past 10 years, GBDC has underperformed VOOG with an annualized return of 6.73%, while VOOG has yielded a comparatively higher 17.86% annualized 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%

VOOG

1D
0.38%
1M
-1.66%
YTD
9.67%
6M
10.61%
1Y
27.55%
3Y*
25.78%
5Y*
14.86%
10Y*
17.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GBDC vs. VOOG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GBDC
Golub Capital BDC, Inc.		0.68%-0.50%13.57%27.69%-6.99%17.78%-14.73%21.09%-2.20%6.27%
VOOG
Vanguard S&P 500 Growth ETF		9.67%22.11%35.89%29.96%-29.48%31.95%33.35%30.93%-0.21%27.19%

Correlation

The correlation between GBDC and VOOG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.31

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (10Y)
Calculated over the trailing 10-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.35

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Golub Capital BDC, Inc.

Vanguard S&P 500 Growth ETF

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GBDC vs. ARCCGBDC vs. GSBDGBDC vs. MAINGBDC vs. CGBDGBDC vs. MFICGBDC vs. KMIGBDC vs. SPY
Often compared with VOOG:
VOOG vs. VOOVOOG vs. VUGVOOG vs. VOOVVOOG vs. QQQVOOG vs. VGTVOOG vs. FSPGXVOOG vs. VONG

Return for Risk

GBDC vs. VOOG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GBDC
GBDC Risk / Return Rank: 3535
Overall Rank
GBDC Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
GBDC Sortino Ratio Rank: 3030
Sortino Ratio Rank
GBDC Omega Ratio Rank: 3030
Omega Ratio Rank
GBDC Calmar Ratio Rank: 3838
Calmar Ratio Rank
GBDC Martin Ratio Rank: 3737
Martin Ratio Rank
VOOG
VOOG Risk / Return Rank: 5252
Overall Rank
VOOG Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
VOOG Sortino Ratio Rank: 5353
Sortino Ratio Rank
VOOG Omega Ratio Rank: 5353
Omega Ratio Rank
VOOG Calmar Ratio Rank: 4646
Calmar Ratio Rank
VOOG Martin Ratio Rank: 5353
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GBDC vs. VOOG - 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 Growth ETF (VOOG). 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.

GBDCVOOGDifference
Sharpe ratioReturn per unit of total volatility
-0.14
1.67

-1.81

Sortino ratioReturn per unit of downside risk
-0.06
2.26

-2.33

Omega ratioGain probability vs. loss probability

0.99

1.29

-0.30

Calmar ratioReturn relative to maximum drawdown

-0.15

2.02

-2.16

Martin ratioReturn relative to average drawdown

-0.31

8.11

-8.42

GBDC vs. VOOG - Sharpe Ratio Comparison

The current GBDC Sharpe Ratio is -0.14, which is lower than the VOOG Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of GBDC and VOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GBDC vs. VOOG - Drawdown Comparison

The maximum GBDC drawdown since its inception was -47.30%, which is greater than VOOG's maximum drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for GBDC and VOOG.

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Drawdown Indicators

GBDCVOOGDifference

Max Drawdown

Largest peak-to-trough decline

-47.30%

-32.73%

-14.57%

Max Drawdown (1Y)

Largest decline over 1 year

-18.20%

-13.71%

-4.49%

Max Drawdown (3Y)

Largest decline over 3 years

-18.20%

-22.18%

+3.98%

Max Drawdown (5Y)

Largest decline over 5 years

-19.28%

-32.73%

+13.45%

Max Drawdown (10Y)

Largest decline over 10 years

-47.30%

-32.73%

-14.57%

Current Drawdown

Current decline from peak

-6.79%

-4.65%

-2.14%

Average Drawdown

Average peak-to-trough decline

-6.13%

-4.97%

-1.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.56%

3.40%

+5.16%

Volatility

GBDC vs. VOOG - Volatility Comparison

The current volatility for Golub Capital BDC, Inc. (GBDC) is 5.60%, while Vanguard S&P 500 Growth ETF (VOOG) has a volatility of 6.29%. This indicates that GBDC experiences smaller price fluctuations and is considered to be less risky than VOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GBDCVOOGDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.60%

6.29%

-0.69%

Volatility (6M)

Calculated over the trailing 6-month period

15.83%

13.43%

+2.40%

Volatility (1Y)

Calculated over the trailing 1-year period

19.15%

16.60%

+2.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.19%

21.29%

-4.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.56%

20.78%

+0.78%

Dividends

GBDC vs. VOOG - Dividend Comparison

GBDC's dividend yield for the trailing twelve months is around 11.29%, more than VOOG's 0.45% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VOOG
Vanguard S&P 500 Growth ETF		0.45%0.49%0.49%1.12%0.93%0.53%0.88%1.26%1.34%1.32%1.47%1.56%

Frequently Asked Questions

GBDC and VOOG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VOOG has higher volatility (6.29%) compared to GBDC (5.60%). In terms of maximum drawdown, GBDC dropped -47.30% vs VOOG's -32.73%.

VOOG currently has the higher Sharpe Ratio (1.67 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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