PSCF vs. PBDC

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P SmallCap Financials ETF (PSCF) and Putnam BDC Income ETF (PBDC).

PSCF and PBDC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSCF is a passively managed fund by Invesco that tracks the performance of the S&P SmallCap 600 Financials Index. It was launched on Apr 7, 2010. PBDC is an actively managed fund by Putnam. It was launched on Sep 29, 2022.

Performance

PSCF vs. PBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Financials ETF (PSCF) and Putnam BDC Income ETF (PBDC). The values are adjusted to include any dividend payments, if applicable.

PSCF vs. PBDC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PSCF Invesco S&P SmallCap Financials ETF	-0.43%	6.19%	15.50%	6.02%	7.35%
PBDC Putnam BDC Income ETF	-9.87%	-1.77%	19.43%	30.52%	10.86%

Returns By Period

In the year-to-date period, PSCF achieves a -0.43% return, which is significantly higher than PBDC's -9.87% return.

PSCF

• 1D: 1.74%
• 1M: -3.09%
• YTD: -0.43%
• 6M: 0.37%
• 1Y: 10.16%
• 3Y*: 12.55%
• 5Y*: 2.57%
• 10Y*: 6.73%

PBDC

• 1D: 2.38%
• 1M: 2.99%
• YTD: -9.87%
• 6M: -8.48%
• 1Y: -12.07%
• 3Y*: 9.33%
• 5Y*: —
• 10Y*: —

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

PSCF vs. PBDC - Expense Ratio Comparison

PSCF has a 0.29% expense ratio, which is lower than PBDC's 6.79% expense ratio.

PBDC

Putnam BDC Income ETF

PSCF

Invesco S&P SmallCap Financials ETF

Return for Risk

PSCF vs. PBDC — Risk / Return Rank

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

PSCF

PSCF Risk / Return Rank: 29
PSCF Sharpe Ratio Rank: 27
PSCF Sortino Ratio Rank: 28
PSCF Omega Ratio Rank: 27
PSCF Calmar Ratio Rank: 32
PSCF Martin Ratio Rank: 29

PBDC

PBDC Risk / Return Rank: 3
PBDC Sharpe Ratio Rank: 3
PBDC Sortino Ratio Rank: 3
PBDC Omega Ratio Rank: 3
PBDC Calmar Ratio Rank: 3
PBDC Martin Ratio Rank: 3

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.

PSCF vs. PBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Financials ETF (PSCF) and Putnam BDC Income ETF (PBDC). 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.

	PSCF	PBDC	Difference
Sharpe ratio Return per unit of total volatility	0.47	-0.56	+1.03
Sortino ratio Return per unit of downside risk	0.80	-0.66	+1.46
Omega ratio Gain probability vs. loss probability	1.11	0.92	+0.19
Calmar ratio Return relative to maximum drawdown	0.77	-0.61	+1.38
Martin ratio Return relative to average drawdown	2.43	-1.29	+3.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSCF vs. PBDC - Sharpe Ratio Comparison

The current PSCF Sharpe Ratio is 0.47, which is higher than the PBDC Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of PSCF and PBDC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PSCF	PBDC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.47	-0.56	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.78	-0.42

Correlation

The correlation between PSCF and PBDC is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PSCF vs. PBDC - Dividend Comparison

PSCF's dividend yield for the trailing twelve months is around 2.55%, less than PBDC's 11.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSCF Invesco S&P SmallCap Financials ETF	2.55%	2.09%	2.48%	3.32%	2.93%	1.83%	3.57%	4.27%	4.21%	2.26%	3.01%	2.37%
PBDC Putnam BDC Income ETF	11.69%	10.53%	9.29%	9.86%	3.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PSCF vs. PBDC - Drawdown Comparison

The maximum PSCF drawdown since its inception was -45.46%, which is greater than PBDC's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for PSCF and PBDC.

Drawdown Indicators

	PSCF	PBDC	Difference
Max Drawdown Largest peak-to-trough decline	-45.46%	-20.47%	-24.99%
Max Drawdown (1Y) Largest decline over 1 year	-14.27%	-20.15%	+5.88%
Max Drawdown (5Y) Largest decline over 5 years	-36.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.46%	—	—
Current Drawdown Current decline from peak	-7.36%	-17.32%	+9.96%
Average Drawdown Average peak-to-trough decline	-8.67%	-4.13%	-4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	9.47%	-4.94%

Volatility

PSCF vs. PBDC - Volatility Comparison

The current volatility for Invesco S&P SmallCap Financials ETF (PSCF) is 4.76%, while Putnam BDC Income ETF (PBDC) has a volatility of 6.16%. This indicates that PSCF experiences smaller price fluctuations and is considered to be less risky than PBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCF	PBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	6.16%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	12.51%	14.25%	-1.74%
Volatility (1Y) Calculated over the trailing 1-year period	21.57%	21.62%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.56%	16.73%	+5.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.79%	16.73%	+8.06%