WIW vs. PBDC
WIW (Western Asset Inflation-Linked Opportunities & Income Fund) and PBDC (Putnam BDC Income ETF) are both funds - WIW is a Inflation-Protected Bonds fund, while PBDC is a Financials Equities fund actively managed by Franklin Templeton. Over the past 3 years, WIW returned 6.46%/yr vs 6.68%/yr for PBDC. At a 0.19 correlation, their price movements are largely independent.
Performance
WIW vs. PBDC - Performance Comparison
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Returns By Period
In the year-to-date period, WIW achieves a 1.71% return, which is significantly higher than PBDC's -6.14% return.
WIW
- 1D
- 0.12%
- 1M
- -0.44%
- 6M
- 1.59%
- YTD
- 1.71%
- 1Y
- 3.50%
- 3Y*
- 6.46%
- 5Y*
- 0.32%
- 10Y*
- 3.83%
PBDC
- 1D
- 1.34%
- 1M
- 3.04%
- 6M
- -8.59%
- YTD
- -6.14%
- 1Y
- -12.67%
- 3Y*
- 6.68%
- 5Y*
- —
- 10Y*
- —
WIW vs. PBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 1.71% | 13.17% | 3.83% | 5.10% | 5.94% |
PBDC Putnam BDC Income ETF | -6.14% | -1.77% | 19.43% | 30.52% | 10.38% |
Correlation
The correlation between WIW and PBDC is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.19 |
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Return for Risk
WIW vs. PBDC — Risk / Return Rank
WIW
PBDC
WIW vs. PBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Inflation-Linked Opportunities & Income Fund (WIW) 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.
| WIW | PBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.90 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | -0.63 | +1.60 |
| Martin ratioReturn relative to average drawdown | 2.49 | -1.03 | +3.53 |
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Drawdowns
WIW vs. PBDC - Drawdown Comparison
The maximum WIW drawdown since its inception was -29.49%, which is greater than PBDC's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for WIW and PBDC.
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Drawdown Indicators
| WIW | PBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.49% | -20.47% | -9.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.61% | -20.15% | +16.54% |
Max Drawdown (3Y)Largest decline over 3 years | -8.65% | -20.47% | +11.82% |
Max Drawdown (5Y)Largest decline over 5 years | -29.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -29.49% | — | — |
Current DrawdownCurrent decline from peak | -6.17% | -13.90% | +7.73% |
Average DrawdownAverage peak-to-trough decline | -7.96% | -5.03% | -2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 12.28% | -10.87% |
Volatility
WIW vs. PBDC - Volatility Comparison
The current volatility for Western Asset Inflation-Linked Opportunities & Income Fund (WIW) is 1.66%, while Putnam BDC Income ETF (PBDC) has a volatility of 4.53%. This indicates that WIW 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.
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Volatility by Period
| WIW | PBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 4.53% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 4.29% | 15.26% | -10.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.88% | 18.85% | -11.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.11% | 17.02% | -6.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.98% | 17.02% | -7.04% |
Dividends
WIW vs. PBDC - Dividend Comparison
WIW's dividend yield for the trailing twelve months is around 8.97%, less than PBDC's 11.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDC Putnam BDC Income ETF | 11.20% | 10.53% | 9.29% | 9.86% | 3.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 8.97% | 8.68% | 8.78% | 10.38% | 11.81% | 6.93% | 3.20% | 3.74% | 4.26% | 3.70% | 3.61% | 3.91% |
Frequently Asked Questions
WIW and PBDC have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBDC has higher volatility (4.53%) compared to WIW (1.66%). In terms of maximum drawdown, WIW dropped -29.49% vs PBDC's -20.47%.
WIW currently has the higher Sharpe Ratio (0.51 vs -0.68), 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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