TCPC vs. BBDC
TCPC (BlackRock TCP Capital Corp.) and BBDC (Barings BDC, Inc.) are both stocks. Both are in the Financial Services sector — TCPC in Asset Management, BBDC in Credit Services. Over the past 5 years, TCPC returned -14.52%/yr vs 5.83%/yr for BBDC. Their 0.53 correlation means they have sometimes moved together and sometimes differently.
Performance
TCPC vs. BBDC - Performance Comparison
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Returns By Period
In the year-to-date period, TCPC achieves a -34.59% return, which is significantly lower than BBDC's -4.48% return.
TCPC
- 1D
- 0.00%
- 1M
- -3.27%
- 6M
- -30.92%
- YTD
- -34.59%
- 1Y
- -45.29%
- 3Y*
- -23.85%
- 5Y*
- -14.52%
- 10Y*
- -3.77%
- ALL TIME*
- 0.88%
BBDC
- 1D
- -0.12%
- 1M
- -3.73%
- 6M
- -3.54%
- YTD
- -4.48%
- 1Y
- 1.57%
- 3Y*
- 11.99%
- 5Y*
- 5.83%
- 10Y*
- —
- ALL TIME*
- 6.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.87M | $4.66M | $6.07M | |
| $1.65M | $1.96M | $2.76M |
TCPC vs. BBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TCPC BlackRock TCP Capital Corp. | -34.59% | -26.24% | -12.26% | 3.23% | 5.61% | 30.76% | -9.17% | 19.31% | -7.51% |
BBDC Barings BDC, Inc. | -4.48% | 8.84% | 23.86% | 18.53% | -18.59% | 29.31% | -3.48% | 20.40% | -9.56% |
Correlation
The correlation between TCPC and BBDC is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2018 | 0.53 |
The correlation between TCPC and BBDC shifts across timeframes, from 0.53 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
TCPC:
$272.68M
BBDC:
$863.83M
TCPC:
-$1.30
BBDC:
$0.66
TCPC:
4.82
BBDC:
4.97
TCPC:
0.49
BBDC:
0.75
TCPC:
$57.18M
BBDC:
$174.30M
TCPC:
-$116.96M
BBDC:
$149.47M
TCPC:
-$43.73M
BBDC:
$90.27M
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Return for Risk
TCPC vs. BBDC — Risk / Return Rank
TCPC
BBDC
TCPC vs. BBDC - Risk-Adjusted Trends 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.
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.
| TCPC | BBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.02 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 0.07 | -1.02 |
| Martin ratioReturn relative to average drawdown | -1.54 | 0.15 | -1.69 |
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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 -48.45%. Use the drawdown chart below to compare losses from any high point for TCPC and BBDC.
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Drawdown Indicators
| TCPC | BBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.08% | -48.45% | -20.63% |
Max Drawdown (1Y)Largest decline over 1 year | -48.26% | -12.28% | -35.98% |
Max Drawdown (3Y)Largest decline over 3 years | -60.76% | -24.51% | -36.25% |
Max Drawdown (5Y)Largest decline over 5 years | -60.76% | -27.55% | -33.21% |
Max Drawdown (10Y)Largest decline over 10 years | -69.08% | — | — |
Current DrawdownCurrent decline from peak | -59.25% | -7.98% | -51.27% |
Average DrawdownAverage peak-to-trough decline | -10.45% | -7.96% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.69% | 6.04% | +23.65% |
Volatility
TCPC vs. BBDC - Volatility Comparison
BlackRock TCP Capital Corp. (TCPC) has a higher volatility of 10.09% compared to Barings BDC, Inc. (BBDC) at 5.80%. 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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Volatility by Period
| TCPC | BBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.09% | 5.80% | +4.29% |
Volatility (6M)Calculated over the trailing 6-month period | 28.24% | 15.74% | +12.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.60% | 19.42% | +16.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.84% | 19.54% | +7.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.70% | 24.15% | +10.55% |
Dividends
TCPC vs. BBDC - Dividend Comparison
TCPC's dividend yield for the trailing twelve months is around 27.08%, more than BBDC's 13.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBDC Barings BDC, Inc. | 13.21% | 12.96% | 10.87% | 11.89% | 11.66% | 7.44% | 7.07% | 5.25% | 21.24% | 0.00% | 0.00% | 0.00% |
TCPC BlackRock TCP Capital Corp. | 27.08% | 20.48% | 16.76% | 14.64% | 9.81% | 8.88% | 11.74% | 10.25% | 11.04% | 9.42% | 8.52% | 10.34% |
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.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
TCPC and BBDC have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCPC has higher volatility (10.09%) compared to BBDC (5.80%). In terms of maximum drawdown, TCPC dropped -69.08% vs BBDC's -48.45%.
BBDC currently has the higher Sharpe Ratio (0.05 vs -1.28), 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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