PBDC vs. BIZD
Compare and contrast key facts about Putnam BDC Income ETF (PBDC) and VanEck Vectors BDC Income ETF (BIZD).
PBDC and BIZD 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. BIZD is a passively managed fund by VanEck that tracks the performance of the MVIS US Business Development Companies Index. It was launched on Feb 11, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PBDC or BIZD.
Key characteristics
| PBDC | BIZD | |
|---|---|---|
| YTD Return | 13.42% | 10.64% |
| 1Y Return | 20.58% | 17.45% |
| Sharpe Ratio | 1.82 | 1.66 |
| Sortino Ratio | 2.46 | 2.24 |
| Omega Ratio | 1.33 | 1.30 |
| Calmar Ratio | 2.39 | 2.07 |
| Martin Ratio | 9.49 | 7.73 |
| Ulcer Index | 2.13% | 2.35% |
| Daily Std Dev | 11.09% | 10.92% |
| Max Drawdown | -10.57% | -55.47% |
| Current Drawdown | -1.53% | -1.75% |
Correlation
The correlation between PBDC and BIZD is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PBDC vs. BIZD - Performance Comparison
In the year-to-date period, PBDC achieves a 13.42% return, which is significantly higher than BIZD's 10.64% 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. BIZD - Expense Ratio Comparison
PBDC has a 6.79% expense ratio, which is lower than BIZD's 10.92% expense ratio.
Risk-Adjusted Performance
PBDC vs. BIZD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam BDC Income ETF (PBDC) and VanEck Vectors BDC Income ETF (BIZD). 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. BIZD - Dividend Comparison
PBDC's dividend yield for the trailing twelve months is around 9.75%, less than BIZD's 11.29% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDC Putnam BDC Income ETF | 9.75% | 9.86% | 3.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BIZD VanEck Vectors BDC Income ETF | 11.29% | 10.97% | 11.22% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% | 8.51% | 5.45% |
Drawdowns
PBDC vs. BIZD - Drawdown Comparison
The maximum PBDC drawdown since its inception was -10.57%, smaller than the maximum BIZD drawdown of -55.47%. Use the drawdown chart below to compare losses from any high point for PBDC and BIZD. For additional features, visit the drawdowns tool.
Volatility
PBDC vs. BIZD - Volatility Comparison
Putnam BDC Income ETF (PBDC) has a higher volatility of 3.81% compared to VanEck Vectors BDC Income ETF (BIZD) at 3.54%. This indicates that PBDC's price experiences larger fluctuations and is considered to be riskier than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.