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TCPC vs. BBDC
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Financials

Correlation

The correlation between TCPC and BBDC is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


Performance

TCPC vs. BBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock TCP Capital Corp. (TCPC) and Barings BDC, Inc. (BBDC). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

TCPC:

-0.57

BBDC:

0.16

Sortino Ratio

TCPC:

-0.57

BBDC:

0.35

Omega Ratio

TCPC:

0.92

BBDC:

1.05

Calmar Ratio

TCPC:

-0.46

BBDC:

0.13

Martin Ratio

TCPC:

-0.92

BBDC:

0.45

Ulcer Index

TCPC:

18.35%

BBDC:

7.07%

Daily Std Dev

TCPC:

31.64%

BBDC:

21.11%

Max Drawdown

TCPC:

-69.08%

BBDC:

-64.64%

Current Drawdown

TCPC:

-24.52%

BBDC:

-12.94%

Fundamentals

Market Cap

TCPC:

$659.04M

BBDC:

$957.86M

EPS

TCPC:

-$0.62

BBDC:

$0.96

PS Ratio

TCPC:

2.54

BBDC:

3.35

PB Ratio

TCPC:

0.84

BBDC:

0.79

Total Revenue (TTM)

TCPC:

$39.04M

BBDC:

$250.78M

Gross Profit (TTM)

TCPC:

-$33.49M

BBDC:

$222.87M

EBITDA (TTM)

TCPC:

-$46.78M

BBDC:

$176.68M

Returns By Period

In the year-to-date period, TCPC achieves a -8.18% return, which is significantly lower than BBDC's -1.93% return. Over the past 10 years, TCPC has outperformed BBDC with an annualized return of 3.33%, while BBDC has yielded a comparatively lower 0.86% annualized return.


TCPC

YTD

-8.18%

1M

14.14%

6M

-7.32%

1Y

-17.42%

5Y*

9.35%

10Y*

3.33%

BBDC

YTD

-1.93%

1M

4.60%

6M

-3.21%

1Y

3.11%

5Y*

17.18%

10Y*

0.86%

*Annualized

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Risk-Adjusted Performance

TCPC vs. BBDC — Risk-Adjusted Performance Rank

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

TCPC
The Risk-Adjusted Performance Rank of TCPC is 2222
Overall Rank
The Sharpe Ratio Rank of TCPC is 2020
Sharpe Ratio Rank
The Sortino Ratio Rank of TCPC is 2020
Sortino Ratio Rank
The Omega Ratio Rank of TCPC is 1919
Omega Ratio Rank
The Calmar Ratio Rank of TCPC is 2121
Calmar Ratio Rank
The Martin Ratio Rank of TCPC is 2828
Martin Ratio Rank

BBDC
The Risk-Adjusted Performance Rank of BBDC is 5353
Overall Rank
The Sharpe Ratio Rank of BBDC is 5858
Sharpe Ratio Rank
The Sortino Ratio Rank of BBDC is 4646
Sortino Ratio Rank
The Omega Ratio Rank of BBDC is 4747
Omega Ratio Rank
The Calmar Ratio Rank of BBDC is 5757
Calmar Ratio Rank
The Martin Ratio Rank of BBDC is 5757
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

TCPC vs. BBDC - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock TCP Capital Corp. (TCPC) and Barings BDC, Inc. (BBDC). 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.


The current TCPC Sharpe Ratio is -0.57, which is lower than the BBDC Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of TCPC and BBDC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Dividends

TCPC vs. BBDC - Dividend Comparison

TCPC's dividend yield for the trailing twelve months is around 16.39%, more than BBDC's 11.98% yield.


TTM20242023202220212020201920182017201620152014
TCPC
BlackRock TCP Capital Corp.
16.39%15.61%11.70%9.81%8.88%11.74%10.25%11.04%9.42%8.52%10.34%9.18%
BBDC
Barings BDC, Inc.
11.98%10.87%11.89%11.66%7.44%7.07%5.25%24.57%17.39%10.31%12.35%12.62%

Drawdowns

TCPC vs. BBDC - Drawdown Comparison

The maximum TCPC drawdown since its inception was -69.08%, which is greater than BBDC's maximum drawdown of -64.64%. Use the drawdown chart below to compare losses from any high point for TCPC and BBDC. For additional features, visit the drawdowns tool.


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Volatility

TCPC vs. BBDC - Volatility Comparison

BlackRock TCP Capital Corp. (TCPC) has a higher volatility of 10.06% compared to Barings BDC, Inc. (BBDC) at 6.24%. This indicates that TCPC's price experiences larger fluctuations and is considered to be riskier than BBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Financials

TCPC vs. BBDC - Financials Comparison

This section allows you to compare key financial metrics between BlackRock TCP Capital Corp. and Barings 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.


Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities


-20.00M0.0020.00M40.00M60.00M80.00M20212022202320242025
39.10M
54.87M
(TCPC) Total Revenue
(BBDC) Total Revenue
Values in USD except per share items

TCPC vs. BBDC - Profitability Comparison

The chart below illustrates the profitability comparison between BlackRock TCP Capital Corp. and Barings BDC, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Gross Margin
Operating Margin
Net Margin
Quarterly
Annual

40.0%50.0%60.0%70.0%80.0%90.0%100.0%20212022202320242025
60.8%
63.2%
(TCPC) Gross Margin
(BBDC) Gross Margin
TCPC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on May 2025, BlackRock TCP Capital Corp. reported a gross profit of 23.77M and revenue of 39.10M. Therefore, the gross margin over that period was 60.8%.

BBDC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on May 2025, Barings BDC, Inc. reported a gross profit of 34.67M and revenue of 54.87M. Therefore, the gross margin over that period was 63.2%.

TCPC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on May 2025, BlackRock TCP Capital Corp. reported an operating income of 20.89M and revenue of 39.10M, resulting in an operating margin of 53.4%.

BBDC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on May 2025, Barings BDC, Inc. reported an operating income of 32.98M and revenue of 54.87M, resulting in an operating margin of 60.1%.

TCPC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on May 2025, BlackRock TCP Capital Corp. reported a net income of 20.89M and revenue of 39.10M, resulting in a net margin of 53.4%.

BBDC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on May 2025, Barings BDC, Inc. reported a net income of 32.58M and revenue of 54.87M, resulting in a net margin of 59.4%.