GSBD vs. GBDC
GSBD (Goldman Sachs BDC, Inc.) and GBDC (Golub Capital BDC, Inc.) are both stocks. Both are in the Financial Services sector — GSBD in Credit Services, GBDC in Asset Management. Over the past 10 years, GSBD returned 3.59%/yr vs 5.86%/yr for GBDC. At a 0.48 correlation, their price movements are largely independent.
Performance
GSBD vs. GBDC - Performance Comparison
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Returns By Period
In the year-to-date period, GSBD achieves a 5.68% return, which is significantly higher than GBDC's -4.30% return. Over the past 10 years, GSBD has underperformed GBDC with an annualized return of 3.59%, while GBDC has yielded a comparatively higher 5.86% annualized return.
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
- 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 vs. GBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between GSBD and GBDC 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 GSBD and GBDC shifts across timeframes, from 0.48 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
GSBD:
$1.06B
GBDC:
$3.24B
GSBD:
$0.98
GBDC:
$0.95
GSBD:
9.63
GBDC:
12.99
GSBD:
0.21
GBDC:
7.31
GSBD:
3.78
GBDC:
3.92
GSBD:
0.77
GBDC:
0.86
GSBD:
$286.69M
GBDC:
$831.29M
GSBD:
$141.38M
GBDC:
$525.36M
GSBD:
$164.11M
GBDC:
$506.70M
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Return for Risk
GSBD vs. GBDC — Risk / Return Rank
GSBD
GBDC
GSBD vs. GBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs BDC, Inc. (GSBD) and Golub Capital BDC, Inc. (GBDC). 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.
| GSBD | GBDC | 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 | 1.00 | 0.98 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | -0.21 | +0.09 |
| Martin ratioReturn relative to average drawdown | -0.18 | -0.43 | +0.26 |
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Drawdowns
GSBD vs. GBDC - Drawdown Comparison
The maximum GSBD drawdown since its inception was -62.67%, which is greater than GBDC's maximum drawdown of -47.30%. Use the drawdown chart below to compare losses from any high point for GSBD and GBDC.
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Drawdown Indicators
| GSBD | GBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.67% | -47.30% | -15.37% |
Max Drawdown (1Y)Largest decline over 1 year | -18.41% | -18.20% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -29.59% | -18.20% | -11.39% |
Max Drawdown (5Y)Largest decline over 5 years | -29.59% | -19.28% | -10.31% |
Max Drawdown (10Y)Largest decline over 10 years | -62.67% | -47.30% | -15.37% |
Current DrawdownCurrent decline from peak | -19.95% | -11.40% | -8.55% |
Average DrawdownAverage peak-to-trough decline | -11.74% | -6.14% | -5.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.40% | 8.70% | +3.70% |
Volatility
GSBD vs. GBDC - Volatility Comparison
Goldman Sachs BDC, Inc. (GSBD) and Golub Capital BDC, Inc. (GBDC) have volatilities of 6.21% and 6.20%, 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
| GSBD | GBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 6.20% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 16.59% | 16.23% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.56% | 19.38% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.29% | 17.19% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.03% | 21.60% | +9.43% |
Dividends
GSBD vs. GBDC - Dividend Comparison
GSBD's dividend yield for the trailing twelve months is around 18.03%, more than GBDC's 11.69% 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
GSBD vs. GBDC - Financials Comparison
This section allows you to compare key financial metrics between Goldman Sachs BDC, Inc. and Golub Capital 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
GSBD vs. GBDC - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
GSBD and GBDC 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, GSBD dropped -62.67% vs GBDC's -47.30%.
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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