OTF vs. PBDC
OTF (Blue Owl Technology Finance Corp) is a stock, while PBDC (Putnam BDC Income ETF) is Financials Equities fund actively managed by Franklin Templeton. Over the past year, OTF returned -25.26% vs -12.43% for PBDC. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
OTF vs. PBDC - Performance Comparison
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Returns By Period
In the year-to-date period, OTF achieves a -25.20% return, which is significantly lower than PBDC's -11.69% return.
OTF
- 1D
- -1.23%
- 1M
- -0.95%
- YTD
- -25.20%
- 6M
- -20.13%
- 1Y
- -25.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PBDC
- 1D
- -1.02%
- 1M
- -1.61%
- YTD
- -11.69%
- 6M
- -10.28%
- 1Y
- -12.43%
- 3Y*
- 7.01%
- 5Y*
- —
- 10Y*
- —
OTF vs. PBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OTF Blue Owl Technology Finance Corp | -25.20% | -8.23% |
PBDC Putnam BDC Income ETF | -11.69% | -2.00% |
Correlation
The correlation between OTF and PBDC is 0.64, 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 | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025 | 0.64 |
The correlation between OTF and PBDC has been stable across timeframes, ranging from 0.64 to 0.64 - a consistent structural relationship.
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Return for Risk
OTF vs. PBDC — Risk / Return Rank
OTF
PBDC
OTF vs. PBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blue Owl Technology Finance Corp (OTF) 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.
| OTF | PBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.91 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.62 | -0.32 |
| Martin ratioReturn relative to average drawdown | -1.79 | -1.08 | -0.71 |
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Drawdowns
OTF vs. PBDC - Drawdown Comparison
The maximum OTF drawdown since its inception was -31.36%, which is greater than PBDC's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for OTF and PBDC.
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Drawdown Indicators
| OTF | PBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.36% | -20.47% | -10.89% |
Max Drawdown (1Y)Largest decline over 1 year | -26.96% | -20.15% | -6.81% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.47% | — |
Current DrawdownCurrent decline from peak | -31.36% | -18.99% | -12.37% |
Average DrawdownAverage peak-to-trough decline | -16.91% | -4.82% | -12.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.11% | 11.52% | +2.59% |
Volatility
OTF vs. PBDC - Volatility Comparison
Blue Owl Technology Finance Corp (OTF) has a higher volatility of 9.54% compared to Putnam BDC Income ETF (PBDC) at 5.50%. This indicates that OTF's price experiences larger fluctuations and is considered to be riskier 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
| OTF | PBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.54% | 5.50% | +4.04% |
Volatility (6M)Calculated over the trailing 6-month period | 27.01% | 15.42% | +11.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.98% | 18.69% | +13.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.97% | 17.06% | +14.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.97% | 17.06% | +14.91% |
Dividends
OTF vs. PBDC - Dividend Comparison
OTF's dividend yield for the trailing twelve months is around 15.27%, more than PBDC's 11.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
OTF Blue Owl Technology Finance Corp | 15.27% | 7.91% | 0.00% | 0.00% | 0.00% |
PBDC Putnam BDC Income ETF | 11.95% | 10.53% | 9.29% | 9.86% | 3.40% |
Frequently Asked Questions
OTF and PBDC have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OTF has higher volatility (9.54%) compared to PBDC (5.50%). In terms of maximum drawdown, OTF dropped -31.36% vs PBDC's -20.47%.
PBDC currently has the higher Sharpe Ratio (-0.67 vs -0.79), 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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