PNNT vs. CGBD
PNNT (PennantPark Investment Corporation) and CGBD (TCG BDC, Inc.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 5 years, PNNT returned -1.50%/yr vs 6.80%/yr for CGBD. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
PNNT vs. CGBD - Performance Comparison
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Returns By Period
In the year-to-date period, PNNT achieves a -38.40% return, which is significantly lower than CGBD's -12.60% return.
PNNT
- 1D
- -2.07%
- 1M
- -11.97%
- YTD
- -38.40%
- 6M
- -37.45%
- 1Y
- -41.13%
- 3Y*
- -3.49%
- 5Y*
- -1.50%
- 10Y*
- 5.28%
CGBD
- 1D
- -0.19%
- 1M
- -2.14%
- YTD
- -12.60%
- 6M
- -10.19%
- 1Y
- -13.60%
- 3Y*
- 0.83%
- 5Y*
- 6.80%
- 10Y*
- —
PNNT vs. CGBD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | -38.40% | -2.96% | 16.56% | 37.25% | -8.90% | 61.71% | -17.99% | 14.30% | 2.05% | -2.49% |
CGBD TCG BDC, Inc. | -12.60% | -21.53% | 33.53% | 18.01% | 17.70% | 49.48% | -8.34% | 21.62% | -31.01% | 20.23% |
Correlation
The correlation between PNNT and CGBD is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017 | 0.51 |
The correlation between PNNT and CGBD has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.
Fundamentals
PNNT:
$302.41
CGBD:
$1.02
PNNT:
0.01
CGBD:
10.31
PNNT:
1.89
CGBD:
2.54
PNNT:
$85.01M
CGBD:
$226.59M
PNNT:
$24.12M
CGBD:
$123.55M
PNNT:
$16.10M
CGBD:
$85.61M
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Return for Risk
PNNT vs. CGBD — Risk / Return Rank
PNNT
CGBD
PNNT vs. CGBD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PennantPark Investment Corporation (PNNT) and TCG BDC, Inc. (CGBD). 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.
| PNNT | CGBD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 0.91 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.69 | -0.17 |
| Martin ratioReturn relative to average drawdown | -1.87 | -1.30 | -0.56 |
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Drawdowns
PNNT vs. CGBD - Drawdown Comparison
The maximum PNNT drawdown since its inception was -82.16%, which is greater than CGBD's maximum drawdown of -71.09%. Use the drawdown chart below to compare losses from any high point for PNNT and CGBD.
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Drawdown Indicators
| PNNT | CGBD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -71.09% | -11.07% |
Max Drawdown (1Y)Largest decline over 1 year | -47.57% | -19.72% | -27.85% |
Max Drawdown (3Y)Largest decline over 3 years | -47.57% | -35.06% | -12.51% |
Max Drawdown (5Y)Largest decline over 5 years | -47.57% | -35.06% | -12.51% |
Max Drawdown (10Y)Largest decline over 10 years | -69.14% | — | — |
Current DrawdownCurrent decline from peak | -47.57% | -33.74% | -13.83% |
Average DrawdownAverage peak-to-trough decline | -15.34% | -12.59% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.07% | 10.47% | +11.60% |
Volatility
PNNT vs. CGBD - Volatility Comparison
PennantPark Investment Corporation (PNNT) has a higher volatility of 10.24% compared to TCG BDC, Inc. (CGBD) at 6.68%. This indicates that PNNT's price experiences larger fluctuations and is considered to be riskier than CGBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNNT | CGBD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.24% | 6.68% | +3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 24.47% | 17.73% | +6.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.96% | 22.03% | +5.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.73% | 21.63% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.85% | 34.66% | -1.81% |
Dividends
PNNT vs. CGBD - Dividend Comparison
PNNT's dividend yield for the trailing twelve months is around 29.00%, more than CGBD's 15.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGBD TCG BDC, Inc. | 15.19% | 13.21% | 10.43% | 11.76% | 11.46% | 10.92% | 14.33% | 13.00% | 13.55% | 6.09% | 0.00% | 0.00% |
PNNT PennantPark Investment Corporation | 29.00% | 16.11% | 12.85% | 11.65% | 10.43% | 6.93% | 11.71% | 11.03% | 11.30% | 10.42% | 14.62% | 18.12% |
Financials
PNNT vs. CGBD - Financials Comparison
This section allows you to compare key financial metrics between PennantPark Investment Corporation and TCG BDC, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
PNNT and CGBD have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PNNT has higher volatility (10.24%) compared to CGBD (6.68%). In terms of maximum drawdown, PNNT dropped -82.16% vs CGBD's -71.09%.
CGBD currently has the higher Sharpe Ratio (-0.62 vs -1.48), 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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