PBDC vs. COMT
PBDC (Putnam BDC Income ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - PBDC is a Financials Equities fund actively managed by Franklin Templeton, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. PBDC is actively managed, while COMT is passively managed. Over the past 3 years, PBDC returned 6.68%/yr vs 12.71%/yr for COMT. At a 0.11 correlation, their price movements are largely independent. PBDC charges 13.49%/yr vs 0.48%/yr for COMT.
Performance
PBDC vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, PBDC achieves a -6.14% return, which is significantly lower than COMT's 30.19% return.
PBDC
- 1D
- 1.34%
- 1M
- 3.04%
- 6M
- -8.59%
- YTD
- -6.14%
- 1Y
- -12.67%
- 3Y*
- 6.68%
- 5Y*
- —
- 10Y*
- —
COMT
- 1D
- -0.49%
- 1M
- 2.53%
- 6M
- 26.18%
- YTD
- 30.19%
- 1Y
- 33.20%
- 3Y*
- 12.71%
- 5Y*
- 11.75%
- 10Y*
- 8.33%
PBDC vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PBDC Putnam BDC Income ETF | -6.14% | -1.77% | 19.43% | 30.52% | 10.38% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 30.19% | 6.07% | 5.96% | -6.56% | 1.87% |
Correlation
The correlation between PBDC and COMT is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.11 |
The correlation between PBDC and COMT shifts across timeframes, from -0.12 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PBDC vs. COMT — Risk / Return Rank
PBDC
COMT
PBDC vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam BDC Income ETF (PBDC) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.
| PBDC | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.27 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 1.90 | -2.53 |
| Martin ratioReturn relative to average drawdown | -1.03 | 6.35 | -7.38 |
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Drawdowns
PBDC vs. COMT - Drawdown Comparison
The maximum PBDC drawdown since its inception was -20.47%, smaller than the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for PBDC and COMT.
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Drawdown Indicators
| PBDC | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.47% | -51.89% | +31.42% |
Max Drawdown (1Y)Largest decline over 1 year | -20.15% | -17.57% | -2.58% |
Max Drawdown (3Y)Largest decline over 3 years | -20.47% | -17.57% | -2.90% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.22% | — |
Current DrawdownCurrent decline from peak | -13.90% | -11.28% | -2.62% |
Average DrawdownAverage peak-to-trough decline | -5.03% | -23.95% | +18.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.28% | 5.24% | +7.04% |
Volatility
PBDC vs. COMT - Volatility Comparison
The current volatility for Putnam BDC Income ETF (PBDC) is 4.53%, while iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) has a volatility of 5.91%. This indicates that PBDC experiences smaller price fluctuations and is considered to be less risky than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBDC | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 5.91% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 15.26% | 19.67% | -4.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.85% | 21.54% | -2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 21.20% | -4.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.02% | 18.85% | -1.83% |
PBDC vs. COMT - Expense Ratio Comparison
PBDC has a 13.49% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
PBDC vs. COMT - Dividend Comparison
PBDC's dividend yield for the trailing twelve months is around 11.20%, more than COMT's 5.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 5.95% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
PBDC Putnam BDC Income ETF | 11.20% | 10.53% | 9.29% | 9.86% | 3.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PBDC and COMT have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMT has higher volatility (5.91%) compared to PBDC (4.53%). In terms of maximum drawdown, PBDC dropped -20.47% vs COMT's -51.89%.
On 3-year performance, COMT leads with 12.71% vs 6.68% for PBDC. On fees, COMT is cheaper at 0.48% per year. On volatility, PBDC has been the lower-risk option at 4.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, COMT has performed better with a 12.71% return vs 6.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 13.49% for PBDC.
PBDC has the higher dividend yield at 11.20%, compared with 5.95% for COMT.
PBDC is categorized as Financials Equities, while COMT is Commodities. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 13.49% for PBDC and 0.48% for COMT.
COMT currently has the higher Sharpe Ratio (1.55 vs -0.68), 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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