PBDC vs. LVHI
PBDC (Putnam BDC Income ETF) and LVHI (Franklin International Low Volatility High Dividend Index ETF) are both exchange-traded funds - PBDC is a Financials Equities fund actively managed by Franklin Templeton, while LVHI is a Dividend fund tracking the Franklin International Low Volatility High Dividend Hedged Index-NR. PBDC is actively managed, while LVHI is passively managed. Over the past 3 years, PBDC returned 4.71%/yr vs 22.13%/yr for LVHI. Their 0.46 correlation means their historical movements had little consistent relationship. PBDC charges 13.49%/yr vs 0.40%/yr for LVHI.
Performance
PBDC vs. LVHI - Performance Comparison
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Returns By Period
In the year-to-date period, PBDC achieves a -9.20% return, which is significantly lower than LVHI's 18.29% return.
PBDC
- 1D
- 0.11%
- 1M
- -1.02%
- 6M
- -8.00%
- YTD
- -9.20%
- 1Y
- -12.27%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.83%
LVHI
- 1D
- -0.70%
- 1M
- 4.07%
- 6M
- 13.36%
- YTD
- 18.29%
- 1Y
- 36.20%
- 3Y*
- 22.13%
- 5Y*
- 16.77%
- 10Y*
- 11.87%
- ALL TIME*
- 11.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.17M | $30.23M | $26.64M | |
| $3.46M | $3.16M | $3.71M |
PBDC vs. LVHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PBDC Putnam BDC Income ETF | -9.20% | -1.77% | 19.43% | 30.52% | 10.38% |
LVHI Franklin International Low Volatility High Dividend Index ETF | 18.29% | 27.12% | 14.81% | 17.45% | 10.03% |
Correlation
The correlation between PBDC and LVHI is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.46 |
Over the past year, the correlation between PBDC and LVHI has dropped to 0.25 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
PBDC vs. LVHI — Risk / Return Rank
PBDC
LVHI
PBDC vs. LVHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam BDC Income ETF (PBDC) and Franklin International Low Volatility High Dividend Index ETF (LVHI). 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 | LVHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.42 | ||
| Sortino ratioReturn per unit of downside risk | -5.99 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.71 | -0.82 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 5.76 | -6.50 |
| Martin ratioReturn relative to average drawdown | -1.28 | 24.05 | -25.33 |
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Drawdowns
PBDC vs. LVHI - Drawdown Comparison
The maximum PBDC drawdown since its inception was -20.47%, smaller than the maximum LVHI drawdown of -32.31%. Use the drawdown chart below to compare losses from any high point for PBDC and LVHI.
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Drawdown Indicators
| PBDC | LVHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.47% | -32.31% | +11.84% |
Max Drawdown (1Y)Largest decline over 1 year | -17.71% | -6.08% | -11.63% |
Max Drawdown (3Y)Largest decline over 3 years | -20.47% | -11.99% | -8.48% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.31% | — |
Current DrawdownCurrent decline from peak | -16.71% | -0.70% | -16.01% |
Average DrawdownAverage peak-to-trough decline | -5.16% | -3.47% | -1.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.32% | 1.45% | +8.87% |
Volatility
PBDC vs. LVHI - Volatility Comparison
Putnam BDC Income ETF (PBDC) has a higher volatility of 4.35% compared to Franklin International Low Volatility High Dividend Index ETF (LVHI) at 2.48%. This indicates that PBDC's price experiences larger fluctuations and is considered to be riskier than LVHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBDC | LVHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 2.48% | +1.87% |
Volatility (6M)Calculated over the trailing 6-month period | 15.20% | 7.58% | +7.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.87% | 9.46% | +9.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.00% | 11.05% | +5.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.00% | 13.70% | +3.30% |
PBDC vs. LVHI - Expense Ratio Comparison
PBDC has a 13.49% expense ratio, which is higher than LVHI's 0.40% expense ratio.
Dividends
PBDC vs. LVHI - Dividend Comparison
PBDC's dividend yield for the trailing twelve months is around 11.58%, more than LVHI's 4.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
LVHI Franklin International Low Volatility High Dividend Index ETF | 4.51% | 4.92% | 3.98% | 8.12% | 7.74% | 4.13% | 3.97% | 6.67% | 10.67% | 3.38% | 2.02% |
PBDC Putnam BDC Income ETF | 11.58% | 10.53% | 9.29% | 9.86% | 3.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PBDC and LVHI have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBDC has higher volatility (4.35%) compared to LVHI (2.48%). In terms of maximum drawdown, PBDC dropped -20.47% vs LVHI's -32.31%.
On 3-year performance, LVHI leads with 22.13% vs 4.71% for PBDC. On fees, LVHI is cheaper at 0.40% per year. On volatility, LVHI has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, LVHI has performed better with a 22.13% return vs 4.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LVHI is cheaper with a 0.40% expense ratio, compared with 13.49% for PBDC.
PBDC has the higher dividend yield at 11.58%, compared with 4.51% for LVHI.
PBDC is categorized as Financials Equities, while LVHI is Dividend. Their fees differ too: 13.49% for PBDC and 0.40% for LVHI.
LVHI currently has the higher Sharpe Ratio (3.72 vs -0.70), 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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