STOT vs. PBDC

Last updated Jun 24, 2026

STOT (State Street DoubleLine Short Duration Total Return Tactical ETF) and PBDC (Putnam BDC Income ETF) are both exchange-traded funds - STOT is a Short-Term Bond fund tracking the Bloomberg U.S. Aggregate 1-3 Year Index, while PBDC is a Financials Equities fund actively managed by Franklin Templeton. STOT is passively managed, while PBDC is actively managed. Over the past 3 years, STOT returned 5.23%/yr vs 7.11%/yr for PBDC. At a 0.06 correlation, their price movements are largely independent. STOT charges 0.45%/yr vs 13.49%/yr for PBDC.

Performance

STOT vs. PBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street DoubleLine Short Duration Total Return Tactical ETF (STOT) and Putnam BDC Income ETF (PBDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STOT achieves a 1.08% return, which is significantly higher than PBDC's -11.42% return.

STOT

• 1D: 0.02%
• 1M: 0.17%
• YTD: 1.08%
• 6M: 1.29%
• 1Y: 3.90%
• 3Y*: 5.23%
• 5Y*: 2.81%
• 10Y*: 2.43%

PBDC

• 1D: 0.30%
• 1M: -1.31%
• YTD: -11.42%
• 6M: -9.25%
• 1Y: -11.33%
• 3Y*: 7.11%
• 5Y*: —
• 10Y*: —

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

STOT vs. PBDC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
STOT State Street DoubleLine Short Duration Total Return Tactical ETF	1.08%	5.56%	5.26%	6.39%	1.25%
PBDC Putnam BDC Income ETF	-11.42%	-1.77%	19.43%	30.52%	10.38%

Correlation

The correlation between STOT and PBDC is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022	0.06

Return for Risk

STOT vs. PBDC — Risk / Return Rank

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

STOT

STOT Risk / Return Rank: 94
STOT Sharpe Ratio Rank: 95
STOT Sortino Ratio Rank: 96
STOT Omega Ratio Rank: 95
STOT Calmar Ratio Rank: 90
STOT Martin Ratio Rank: 93

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

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.

STOT vs. PBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street DoubleLine Short Duration Total Return Tactical ETF (STOT) 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.

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.

	STOT	PBDC	Difference
Sharpe ratio: Return per unit of total volatility	3.48	-0.61	+4.09
Sortino ratio: Return per unit of downside risk	5.31	-0.76	+6.07
Omega ratio: Gain probability vs. loss probability	1.71	0.91	+0.79
Calmar ratio: Return relative to maximum drawdown	5.13	-0.56	+5.69
Martin ratio: Return relative to average drawdown	22.23	-0.98	+23.21

STOT vs. PBDC - Sharpe Ratio Comparison

The current STOT Sharpe Ratio is 3.48, which is higher than the PBDC Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of STOT and PBDC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

STOT vs. PBDC - Drawdown Comparison

The maximum STOT drawdown since its inception was -6.07%, smaller than the maximum PBDC drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for STOT and PBDC.

Drawdown Indicators

	STOT	PBDC	Difference
Max Drawdown Largest peak-to-trough decline	-6.07%	-20.47%	+14.40%
Max Drawdown (1Y) Largest decline over 1 year	-0.76%	-20.15%	+19.39%
Max Drawdown (3Y) Largest decline over 3 years	-0.76%	-20.47%	+19.71%
Max Drawdown (5Y) Largest decline over 5 years	-6.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-6.07%	—	—
Current Drawdown Current decline from peak	-0.12%	-18.74%	+18.62%
Average Drawdown Average peak-to-trough decline	-0.83%	-4.83%	+4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.18%	11.58%	-11.40%

Volatility

STOT vs. PBDC - Volatility Comparison

The current volatility for State Street DoubleLine Short Duration Total Return Tactical ETF (STOT) is 0.37%, while Putnam BDC Income ETF (PBDC) has a volatility of 5.50%. This indicates that STOT 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

	STOT	PBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.37%	5.50%	-5.13%
Volatility (6M) Calculated over the trailing 6-month period	0.87%	15.43%	-14.56%
Volatility (1Y) Calculated over the trailing 1-year period	1.13%	18.66%	-17.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.73%	17.05%	-15.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.20%	17.05%	-14.85%

STOT vs. PBDC - Expense Ratio Comparison

STOT has a 0.45% expense ratio, which is lower than PBDC's 13.49% expense ratio.

Dividends

STOT vs. PBDC - Dividend Comparison

STOT's dividend yield for the trailing twelve months is around 4.40%, less than PBDC's 11.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PBDC Putnam BDC Income ETF	11.91%	10.53%	9.29%	9.86%	3.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
STOT State Street DoubleLine Short Duration Total Return Tactical ETF	4.40%	4.52%	5.10%	4.53%	2.54%	1.76%	1.66%	2.61%	2.50%	1.95%	2.08%

Frequently Asked Questions

Can I hold both STOT and PBDC in my portfolio?

STOT and PBDC have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STOT or PBDC?

PBDC has higher volatility (5.50%) compared to STOT (0.37%). In terms of maximum drawdown, STOT dropped -6.07% vs PBDC's -20.47%.

Which ETF is better, STOT or PBDC?

On 3-year performance, PBDC leads with 7.11% vs 5.23% for STOT. On fees, STOT is cheaper at 0.45% per year. On volatility, STOT has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STOT or PBDC?

Over the 3-year period, PBDC has performed better with a 7.11% return vs 5.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STOT or PBDC?

STOT is cheaper with a 0.45% expense ratio, compared with 13.49% for PBDC.

Which ETF pays a higher dividend yield, STOT or PBDC?

PBDC has the higher dividend yield at 11.91%, compared with 4.40% for STOT.

What is the main difference between STOT and PBDC?

STOT is categorized as Short-Term Bond, while PBDC is Financials Equities. They also come from different issuers: State Street and Franklin Templeton. Their fees differ too: 0.45% for STOT and 13.49% for PBDC.

Which has better risk-adjusted returns?

STOT currently has the higher Sharpe Ratio (3.48 vs -0.61), 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.