PBDC vs. BITO
Compare and contrast key facts about Putnam BDC Income ETF (PBDC) and ProShares Bitcoin Strategy ETF (BITO).
PBDC and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PBDC is an actively managed fund by Putnam. It was launched on Sep 29, 2022. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PBDC or BITO.
Key characteristics
| PBDC | BITO | |
|---|---|---|
| YTD Return | 13.42% | 71.92% |
| 1Y Return | 20.58% | 93.59% |
| Sharpe Ratio | 1.82 | 1.73 |
| Sortino Ratio | 2.46 | 2.36 |
| Omega Ratio | 1.33 | 1.27 |
| Calmar Ratio | 2.39 | 1.92 |
| Martin Ratio | 9.49 | 7.28 |
| Ulcer Index | 2.13% | 13.51% |
| Daily Std Dev | 11.09% | 56.67% |
| Max Drawdown | -10.57% | -77.86% |
| Current Drawdown | -1.53% | -1.77% |
Correlation
The correlation between PBDC and BITO is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PBDC vs. BITO - Performance Comparison
In the year-to-date period, PBDC achieves a 13.42% return, which is significantly lower than BITO's 71.92% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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.
Risk-Adjusted Performance
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.
Dividends
PBDC vs. BITO - Dividend Comparison
PBDC's dividend yield for the trailing twelve months is around 9.75%, less than BITO's 58.91% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
PBDC Putnam BDC Income ETF | 9.75% | 9.86% | 3.40% |
BITO ProShares Bitcoin Strategy ETF | 58.91% | 15.14% | 0.00% |
Drawdowns
PBDC vs. BITO - Drawdown Comparison
The maximum PBDC drawdown since its inception was -10.57%, 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.
Volatility
PBDC vs. BITO - Volatility Comparison
The current volatility for Putnam BDC Income ETF (PBDC) is 3.81%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 14.61%. 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.