LVHI vs. PBDC
LVHI (Franklin International Low Volatility High Dividend Index ETF) and PBDC (Putnam BDC Income ETF) are both exchange-traded funds - LVHI is a Volatility Hedged Equity fund tracking the Franklin International Low Volatility High Dividend Hedged Index-NR, while PBDC is a Financials Equities fund actively managed by Franklin Templeton. LVHI is passively managed, while PBDC is actively managed. Over the past 3 years, LVHI returned 21.68%/yr vs 7.11%/yr for PBDC. At a 0.47 correlation, their price movements are largely independent. LVHI charges 0.40%/yr vs 13.49%/yr for PBDC.
Performance
LVHI vs. PBDC - Performance Comparison
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Returns By Period
In the year-to-date period, LVHI achieves a 12.42% return, which is significantly higher than PBDC's -11.42% return.
LVHI
- 1D
- -0.15%
- 1M
- -0.65%
- YTD
- 12.42%
- 6M
- 12.76%
- 1Y
- 31.92%
- 3Y*
- 21.68%
- 5Y*
- 15.85%
- 10Y*
- —
PBDC
- 1D
- 0.30%
- 1M
- -1.31%
- YTD
- -11.42%
- 6M
- -9.25%
- 1Y
- -11.33%
- 3Y*
- 7.11%
- 5Y*
- —
- 10Y*
- —
LVHI vs. PBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LVHI Franklin International Low Volatility High Dividend Index ETF | 12.42% | 27.12% | 14.81% | 17.45% | 10.03% |
PBDC Putnam BDC Income ETF | -11.42% | -1.77% | 19.43% | 30.52% | 10.38% |
Correlation
The correlation between LVHI and PBDC is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.47 |
The correlation between LVHI and PBDC shifts across timeframes, from 0.28 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LVHI vs. PBDC — Risk / Return Rank
LVHI
PBDC
LVHI vs. PBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin International Low Volatility High Dividend Index ETF (LVHI) 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.
| LVHI | PBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.95 | ||
| Sortino ratioReturn per unit of downside risk | +5.32 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 0.91 | +0.71 |
| Calmar ratioReturn relative to maximum drawdown | 5.28 | -0.56 | +5.84 |
| Martin ratioReturn relative to average drawdown | 21.81 | -0.98 | +22.79 |
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Drawdowns
LVHI vs. PBDC - Drawdown Comparison
The maximum LVHI drawdown since its inception was -32.31%, which is greater than PBDC's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for LVHI and PBDC.
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Drawdown Indicators
| LVHI | PBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.31% | -20.47% | -11.84% |
Max Drawdown (1Y)Largest decline over 1 year | -6.08% | -20.15% | +14.07% |
Max Drawdown (3Y)Largest decline over 3 years | -11.99% | -20.47% | +8.48% |
Max Drawdown (5Y)Largest decline over 5 years | -11.99% | — | — |
Current DrawdownCurrent decline from peak | -1.19% | -18.74% | +17.55% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -4.83% | +1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 11.58% | -10.11% |
Volatility
LVHI vs. PBDC - Volatility Comparison
The current volatility for Franklin International Low Volatility High Dividend Index ETF (LVHI) is 2.61%, while Putnam BDC Income ETF (PBDC) has a volatility of 5.50%. This indicates that LVHI 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
| LVHI | PBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 5.50% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 7.70% | 15.43% | -7.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.61% | 18.66% | -9.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.07% | 17.05% | -5.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.74% | 17.05% | -3.31% |
LVHI vs. PBDC - Expense Ratio Comparison
LVHI has a 0.40% expense ratio, which is lower than PBDC's 13.49% expense ratio.
Dividends
LVHI vs. PBDC - Dividend Comparison
LVHI's dividend yield for the trailing twelve months is around 4.74%, less than PBDC's 11.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
LVHI Franklin International Low Volatility High Dividend Index ETF | 4.74% | 4.92% | 3.98% | 8.12% | 7.74% | 4.13% | 3.97% | 6.67% | 10.67% | 3.38% | 2.02% |
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% |
Frequently Asked Questions
LVHI and PBDC have a correlation of 0.28, 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 LVHI (2.61%). In terms of maximum drawdown, LVHI dropped -32.31% vs PBDC's -20.47%.
On 3-year performance, LVHI leads with 21.68% vs 7.11% for PBDC. On fees, LVHI is cheaper at 0.40% per year. On volatility, LVHI has been the lower-risk option at 2.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, LVHI has performed better with a 21.68% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LVHI is cheaper with a 0.40% expense ratio, compared with 13.49% for PBDC.
PBDC has the higher dividend yield at 11.91%, compared with 4.74% for LVHI.
LVHI is categorized as Volatility Hedged Equity, while PBDC is Financials Equities. Their fees differ too: 0.40% for LVHI and 13.49% for PBDC.
LVHI currently has the higher Sharpe Ratio (3.34 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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