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PBDC vs. BITO
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between PBDC and BITO is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.


-0.50.00.51.0
Correlation: 0.6

Performance

PBDC vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam BDC Income ETF (PBDC) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

0.00%100.00%200.00%300.00%400.00%NovemberDecember2025FebruaryMarchApril
64.26%
326.46%
PBDC
BITO

Key characteristics

Sharpe Ratio

PBDC:

0.22

BITO:

0.63

Sortino Ratio

PBDC:

0.41

BITO:

1.24

Omega Ratio

PBDC:

1.06

BITO:

1.14

Calmar Ratio

PBDC:

0.20

BITO:

1.11

Martin Ratio

PBDC:

0.85

BITO:

2.52

Ulcer Index

PBDC:

4.68%

BITO:

13.75%

Daily Std Dev

PBDC:

18.14%

BITO:

55.08%

Max Drawdown

PBDC:

-20.28%

BITO:

-77.86%

Current Drawdown

PBDC:

-11.25%

BITO:

-12.75%

Returns By Period

In the year-to-date period, PBDC achieves a -4.96% return, which is significantly lower than BITO's 0.30% return.


PBDC

YTD

-4.96%

1M

-6.91%

6M

-0.61%

1Y

3.35%

5Y*

N/A

10Y*

N/A

BITO

YTD

0.30%

1M

9.22%

6M

38.09%

1Y

40.95%

5Y*

N/A

10Y*

N/A

*Annualized

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PBDC vs. BITO - Expense Ratio Comparison

PBDC has a 6.79% expense ratio, which is higher than BITO's 0.95% expense ratio.


Expense ratio chart for PBDC: current value is 6.79%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
PBDC: 6.79%
Expense ratio chart for BITO: current value is 0.95%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
BITO: 0.95%

Risk-Adjusted Performance

PBDC vs. BITO — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PBDC
The Risk-Adjusted Performance Rank of PBDC is 3939
Overall Rank
The Sharpe Ratio Rank of PBDC is 3838
Sharpe Ratio Rank
The Sortino Ratio Rank of PBDC is 3737
Sortino Ratio Rank
The Omega Ratio Rank of PBDC is 4040
Omega Ratio Rank
The Calmar Ratio Rank of PBDC is 3939
Calmar Ratio Rank
The Martin Ratio Rank of PBDC is 4040
Martin Ratio Rank

BITO
The Risk-Adjusted Performance Rank of BITO is 7373
Overall Rank
The Sharpe Ratio Rank of BITO is 6767
Sharpe Ratio Rank
The Sortino Ratio Rank of BITO is 7575
Sortino Ratio Rank
The Omega Ratio Rank of BITO is 6868
Omega Ratio Rank
The Calmar Ratio Rank of BITO is 8585
Calmar Ratio Rank
The Martin Ratio Rank of BITO is 6868
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

PBDC vs. BITO - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam BDC Income ETF (PBDC) and ProShares Bitcoin Strategy ETF (BITO). 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.


The chart of Sharpe ratio for PBDC, currently valued at 0.22, compared to the broader market-1.000.001.002.003.004.00
PBDC: 0.22
BITO: 0.63
The chart of Sortino ratio for PBDC, currently valued at 0.41, compared to the broader market-2.000.002.004.006.008.00
PBDC: 0.41
BITO: 1.24
The chart of Omega ratio for PBDC, currently valued at 1.06, compared to the broader market0.501.001.502.002.50
PBDC: 1.06
BITO: 1.14
The chart of Calmar ratio for PBDC, currently valued at 0.20, compared to the broader market0.002.004.006.008.0010.0012.00
PBDC: 0.20
BITO: 1.16
The chart of Martin ratio for PBDC, currently valued at 0.85, compared to the broader market0.0020.0040.0060.00
PBDC: 0.85
BITO: 2.52

The current PBDC Sharpe Ratio is 0.22, which is lower than the BITO Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of PBDC and BITO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-0.500.000.501.001.502.002.503.00NovemberDecember2025FebruaryMarchApril
0.22
0.63
PBDC
BITO

Dividends

PBDC vs. BITO - Dividend Comparison

PBDC's dividend yield for the trailing twelve months is around 10.09%, less than BITO's 66.60% yield.


TTM202420232022
PBDC
Putnam BDC Income ETF
10.09%9.29%9.86%3.40%
BITO
ProShares Bitcoin Strategy ETF
66.60%61.58%15.14%0.00%

Drawdowns

PBDC vs. BITO - Drawdown Comparison

The maximum PBDC drawdown since its inception was -20.28%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for PBDC and BITO. For additional features, visit the drawdowns tool.


-30.00%-25.00%-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-11.25%
-12.75%
PBDC
BITO

Volatility

PBDC vs. BITO - Volatility Comparison

The current volatility for Putnam BDC Income ETF (PBDC) is 14.06%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 16.62%. This indicates that PBDC experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%20.00%NovemberDecember2025FebruaryMarchApril
14.06%
16.62%
PBDC
BITO