YCLO vs. PBDC

Last updated Jul 21, 2026

YCLO (Franklin BSP CLO ETF) and PBDC (Putnam BDC Income ETF) are both exchange-traded funds - YCLO is a CLO fund actively managed by Franklin Templeton, while PBDC is a Financials Equities fund actively managed by Franklin Templeton. Both are actively managed. At a correlation of -0.08, they often move in opposite directions.

Performance

YCLO vs. PBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin BSP CLO ETF (YCLO) and Putnam BDC Income ETF (PBDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

YCLO

• 1D: 0.02%
• 1M: 0.63%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PBDC

• 1D: -0.93%
• 1M: 2.81%
• 6M: -9.83%
• YTD: -8.27%
• 1Y: -15.06%
• 3Y*: 5.68%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.22%

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

YCLO vs. PBDC - Yearly Performance Comparison

	2026 (YTD)
YCLO Franklin BSP CLO ETF	0.92%
PBDC Putnam BDC Income ETF	1.63%

Correlation

The correlation between YCLO and PBDC is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	-0.08

Return for Risk

YCLO vs. PBDC — Risk / Return Rank

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

YCLO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PBDC

PBDC Risk / Return Rank: 3
PBDC Sharpe Ratio Rank: 3
PBDC Sortino Ratio Rank: 3
PBDC Omega Ratio Rank: 4
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.

YCLO vs. PBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin BSP CLO ETF (YCLO) 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.

	YCLO	PBDC	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.80	—
Sortino ratio: Return per unit of downside risk	—	-1.06	—
Omega ratio: Gain probability vs. loss probability	—	0.88	—
Calmar ratio: Return relative to maximum drawdown	—	-0.76	—
Martin ratio: Return relative to average drawdown	—	-1.26	—

Drawdowns

YCLO vs. PBDC - Drawdown Comparison

The maximum YCLO drawdown since its inception was -0.04%, smaller than the maximum PBDC drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for YCLO and PBDC.

Drawdown Indicators

	YCLO	PBDC	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-20.47%	+20.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.81%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.47%	—
Current Drawdown Current decline from peak	0.00%	-15.86%	+15.86%
Average Drawdown Average peak-to-trough decline	-0.00%	-5.05%	+5.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.01%	—

Volatility

Volatility by Period

	YCLO	PBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.17%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.45%	18.88%	-18.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.45%	17.02%	-16.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.45%	17.02%	-16.57%

Dividends

YCLO vs. PBDC - Dividend Comparison

YCLO's dividend yield for the trailing twelve months is around 0.31%, less than PBDC's 11.46% yield.

Position	TTM	2025	2024	2023	2022
PBDC Putnam BDC Income ETF	11.46%	10.53%	9.29%	9.86%	3.40%
YCLO Franklin BSP CLO ETF	0.31%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YCLO and PBDC in my portfolio?

YCLO and PBDC have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

PBDC has the higher dividend yield at 11.46%, compared with 0.31% for YCLO.

What is the main difference between YCLO and PBDC?

YCLO is categorized as CLO, while PBDC is Financials Equities.