PBDC vs. ECCX

Last updated Jun 4, 2026

PBDC (Putnam BDC Income ETF) is Financials Equities fund actively managed by Putnam, while ECCX (Eagle Point Credit Company Inc. 6.6875% NT 28) is a stock. Over the past 3 years, PBDC returned 7.76%/yr vs 9.51%/yr for ECCX. At a 0.04 correlation, their price movements are largely independent.

Performance

PBDC vs. ECCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam BDC Income ETF (PBDC) and Eagle Point Credit Company Inc. 6.6875% NT 28 (ECCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBDC achieves a -9.74% return, which is significantly lower than ECCX's 1.67% return.

PBDC

• 1D: -2.15%
• 1M: -6.53%
• YTD: -9.74%
• 6M: -10.38%
• 1Y: -10.30%
• 3Y*: 7.76%
• 5Y*: —
• 10Y*: —

ECCX

• 1D: 0.00%
• 1M: 0.04%
• YTD: 1.67%
• 6M: 3.97%
• 1Y: 8.63%
• 3Y*: 9.51%
• 5Y*: 6.69%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PBDC vs. ECCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PBDC Putnam BDC Income ETF	-9.74%	-1.77%	19.43%	30.52%	10.86%
ECCX Eagle Point Credit Company Inc. 6.6875% NT 28	1.67%	10.76%	8.21%	7.05%	-0.15%

Correlation

The correlation between PBDC and ECCX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since Oct 3, 2022	0.04

Return for Risk

PBDC vs. ECCX — Risk / Return Rank

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

PBDC

PBDC Risk / Return Rank: 4
PBDC Sharpe Ratio Rank: 4
PBDC Sortino Ratio Rank: 4
PBDC Omega Ratio Rank: 4
PBDC Calmar Ratio Rank: 4
PBDC Martin Ratio Rank: 4

ECCX

ECCX Risk / Return Rank: 82
ECCX Sharpe Ratio Rank: 80
ECCX Sortino Ratio Rank: 76
ECCX Omega Ratio Rank: 78
ECCX Calmar Ratio Rank: 86
ECCX Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PBDC vs. ECCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam BDC Income ETF (PBDC) and Eagle Point Credit Company Inc. 6.6875% NT 28 (ECCX). 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.

	PBDC	ECCX	Difference
Sharpe ratio Return per unit of total volatility	-0.56	1.41	-1.98
Sortino ratio Return per unit of downside risk	-0.69	2.08	-2.78
Omega ratio Gain probability vs. loss probability	0.92	1.29	-0.37
Calmar ratio Return relative to maximum drawdown	-0.51	3.70	-4.21
Martin ratio Return relative to average drawdown	-0.94	12.73	-13.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBDC vs. ECCX - Sharpe Ratio Comparison

The current PBDC Sharpe Ratio is -0.56, which is lower than the ECCX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of PBDC and ECCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PBDC	ECCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.56	1.41	-1.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.36	+0.37

Drawdowns

PBDC vs. ECCX - Drawdown Comparison

The maximum PBDC drawdown since its inception was -20.47%, smaller than the maximum ECCX drawdown of -37.68%. Use the drawdown chart below to compare losses from any high point for PBDC and ECCX.

Drawdown Indicators

	PBDC	ECCX	Difference
Max Drawdown Largest peak-to-trough decline	-20.47%	-37.68%	+17.21%
Max Drawdown (1Y) Largest decline over 1 year	-20.15%	-2.57%	-17.58%
Max Drawdown (3Y) Largest decline over 3 years	-20.47%	-4.56%	-15.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-10.87%	—
Current Drawdown Current decline from peak	-17.21%	-0.04%	-17.17%
Average Drawdown Average peak-to-trough decline	-4.66%	-1.84%	-2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.95%	0.74%	+10.21%

Volatility

PBDC vs. ECCX - Volatility Comparison

Putnam BDC Income ETF (PBDC) has a higher volatility of 5.13% compared to Eagle Point Credit Company Inc. 6.6875% NT 28 (ECCX) at 0.16%. This indicates that PBDC's price experiences larger fluctuations and is considered to be riskier than ECCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBDC	ECCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	0.16%	+4.97%
Volatility (6M) Calculated over the trailing 6-month period	15.03%	4.50%	+10.53%
Volatility (1Y) Calculated over the trailing 1-year period	18.31%	6.73%	+11.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	9.87%	+7.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	20.12%	-3.08%

Dividends

PBDC vs. ECCX - Dividend Comparison

PBDC's dividend yield for the trailing twelve months is around 11.69%, more than ECCX's 6.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ECCX Eagle Point Credit Company Inc. 6.6875% NT 28	6.64%	6.64%	6.87%	6.95%	6.92%	6.60%	6.69%	6.52%	4.76%
PBDC Putnam BDC Income ETF	11.69%	10.53%	9.29%	9.86%	3.40%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBDC and ECCX in my portfolio?

PBDC and ECCX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBDC or ECCX?

PBDC has higher volatility (5.13%) compared to ECCX (0.16%). In terms of maximum drawdown, PBDC dropped -20.47% vs ECCX's -37.68%.

Which has better risk-adjusted returns?

ECCX currently has the higher Sharpe Ratio (1.41 vs -0.56), 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.