IXG vs. PBDC
IXG (iShares Global Financials ETF) and PBDC (Putnam BDC Income ETF) are both Financials Equities funds. IXG is passively managed, while PBDC is actively managed. Over the past 3 years, IXG returned 24.83%/yr vs 7.11%/yr for PBDC. A 0.61 correlation means they provide meaningful diversification when combined. IXG charges 0.46%/yr vs 13.49%/yr for PBDC.
Performance
IXG vs. PBDC - Performance Comparison
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Returns By Period
In the year-to-date period, IXG achieves a 5.10% return, which is significantly higher than PBDC's -11.42% return.
IXG
- 1D
- -0.32%
- 1M
- 3.89%
- YTD
- 5.10%
- 6M
- 4.08%
- 1Y
- 19.12%
- 3Y*
- 24.83%
- 5Y*
- 13.10%
- 10Y*
- 13.25%
PBDC
- 1D
- 0.30%
- 1M
- -1.31%
- YTD
- -11.42%
- 6M
- -9.25%
- 1Y
- -11.33%
- 3Y*
- 7.11%
- 5Y*
- —
- 10Y*
- —
IXG vs. PBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IXG iShares Global Financials ETF | 5.10% | 28.54% | 25.69% | 14.97% | 15.56% |
PBDC Putnam BDC Income ETF | -11.42% | -1.77% | 19.43% | 30.52% | 10.38% |
Correlation
The correlation between IXG and PBDC is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.61 |
The correlation between IXG and PBDC shifts across timeframes, from 0.50 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IXG vs. PBDC — Risk / Return Rank
IXG
PBDC
IXG vs. PBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Financials ETF (IXG) and Putnam BDC Income ETF (PBDC). 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.
| IXG | PBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.91 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | -0.56 | +2.26 |
| Martin ratioReturn relative to average drawdown | 5.98 | -0.98 | +6.96 |
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Drawdowns
IXG vs. PBDC - Drawdown Comparison
The maximum IXG drawdown since its inception was -78.42%, which is greater than PBDC's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for IXG and PBDC.
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Drawdown Indicators
| IXG | PBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.42% | -20.47% | -57.95% |
Max Drawdown (1Y)Largest decline over 1 year | -11.33% | -20.15% | +8.82% |
Max Drawdown (3Y)Largest decline over 3 years | -13.54% | -20.47% | +6.93% |
Max Drawdown (5Y)Largest decline over 5 years | -27.20% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.47% | — | — |
Current DrawdownCurrent decline from peak | -0.53% | -18.74% | +18.21% |
Average DrawdownAverage peak-to-trough decline | -19.71% | -4.83% | -14.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 11.58% | -8.38% |
Volatility
IXG vs. PBDC - Volatility Comparison
The current volatility for iShares Global Financials ETF (IXG) is 4.15%, while Putnam BDC Income ETF (PBDC) has a volatility of 5.50%. This indicates that IXG experiences smaller price fluctuations and is considered to be less risky than PBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IXG | PBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 5.50% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 15.43% | -4.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.90% | 18.66% | -4.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.34% | 17.05% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.94% | 17.05% | +2.89% |
IXG vs. PBDC - Expense Ratio Comparison
IXG has a 0.46% expense ratio, which is lower than PBDC's 13.49% expense ratio.
Dividends
IXG vs. PBDC - Dividend Comparison
IXG's dividend yield for the trailing twelve months is around 2.26%, less than PBDC's 11.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXG iShares Global Financials ETF | 2.26% | 2.04% | 2.64% | 2.62% | 3.71% | 1.69% | 2.13% | 2.87% | 3.14% | 2.12% | 2.21% | 2.79% |
PBDC Putnam BDC Income ETF | 11.91% | 10.53% | 9.29% | 9.86% | 3.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IXG and PBDC have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBDC has higher volatility (5.50%) compared to IXG (4.15%). In terms of maximum drawdown, IXG dropped -78.42% vs PBDC's -20.47%.
On 3-year performance, IXG leads with 24.83% vs 7.11% for PBDC. On fees, IXG is cheaper at 0.46% per year. On volatility, IXG has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IXG has performed better with a 24.83% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IXG is cheaper with a 0.46% expense ratio, compared with 13.49% for PBDC.
PBDC has the higher dividend yield at 11.91%, compared with 2.26% for IXG.
They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.46% for IXG and 13.49% for PBDC.
IXG currently has the higher Sharpe Ratio (1.38 vs -0.61), 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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