Putnam BDC Income ETF
PBDC
Market cap $144M

31.14 USD

+0.68

2.23%

At close Apr 17, 4:00 PM EDT

1 day

2.23%

5 days

4.60%

1 month

-9.53%

3 months

-11.10%

6 months

-7.54%

Year to date

-10.26%

1 year

-5.21%

5 years

23.96%

10 years

23.96%

0

Funds holding %

of 7,407 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

100% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 9

29% more capital invested

Capital invested by funds: $30.9M [Q3] → $39.7M (+$8.82M) [Q4]

25% more funds holding

Funds holding: 28 [Q3] → 35 (+7) [Q4]

0.08% less ownership

Funds ownership: 28.59% [Q3] → 28.51% (-0.08%) [Q4]

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Research analyst outlook

We haven’t received any recent analyst ratings for PBDC.

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Financial journalist opinion

Based on 3 articles about PBDC published over the past 30 days

PBDC: Valuation Reversion Makes BDCs A Sector Buy

Business development companies have faced valuation reversion amid market volatility and changing interest rate expectations, impacting their recent performance. PBDC, an actively managed ETF of BDCs, remains a Buy despite recent declines, offering diversification and attractive long-term yields. Key holdings like ARCC and MAIN have seen significant price corrections, aligning closer to historical valuations and improving attractiveness.

PBDC: Valuation Reversion Makes BDCs A Sector Buy

PBDC: The Recent Downturn Confirms The Inherent Flaws

Putnam BDC Income ETF is actively managed but, in my view, lacks true active management substance. PBDC and VanEck BDC Income ETF have both underperformed compared to my custom BDC portfolio, which includes smaller, high-conviction picks. PBDC's top 10 holdings are overly concentrated and biased towards large-cap BDCs, limiting its potential for optimized price-to-risk ratios.

PBDC: The Recent Downturn Confirms The Inherent Flaws

My BDC Portfolio And The Strategy For Alpha Going Forward

This is my first BDC portfolio monthly performance review article. The good news is that the portfolio has done its job, outperforming the two BDC benchmarks - PBDC and BIZD. Yet, on an absolute basis, the portfolio is slightly down.

My BDC Portfolio And The Strategy For Alpha Going Forward

2 Income ETFs To Ride Out The Current Market Decline

Dividends provide stability and psychological benefits during market declines, helping investors avoid panic selling and irrational decisions. Janus Henderson AAA CLO ETF offers a 6.1% dividend yield with investment-grade debt, providing stable income and sector diversification. Putnam BDC Income ETF offers a 9.1% dividend yield with high-quality BDCs, combining capital appreciation and income, but with higher price volatility.

2 Income ETFs To Ride Out The Current Market Decline

PBDC On The Chopping Block: The BDC Bonds Are Still Better

The PBDC ETF is scrutinized for its holdings in the BDC sector, with a focus on risk-adjusted returns compared to BDC bonds. Despite a recent sector sell-off, BDC common equity remains overvalued, making BDC baby bonds a safer investment with better returns. BDC baby bonds, with an expected leveraged return of 10.35%, outperform PBDC's 9.24% return.

PBDC On The Chopping Block: The BDC Bonds Are Still Better

Investors Are Turning Defensive: 2 ETFs To Consider For What Could Be Coming

Despite my preference for individual stocks, I've added Schwab's U.S. Large-Cap Growth ETF to address my portfolio's lack of tech sector exposure. With inflation creeping up and potential tariffs on the horizon, investors might consider dividend-focused stocks as safe-havens in a high inflation environment. The Putnam BDC Income ETF offers a near 9% yield and includes high-quality BDCs like Ares Capital, Blackstone Secured Lending, and Main Street Capital.

Investors Are Turning Defensive: 2 ETFs To Consider For What Could Be Coming

PBDC: Recent Developments Are Encouraging, Still A Buy In Spite Of Cuts

PBDC is an actively managed BDC ETF. It sports a growing 9.1% dividend yield and has outperformed the S&P 500 since inception and in the recent past. Federal Reserve cuts are a headwind, but medium-term results are positive, as is its outlook.

PBDC: Recent Developments Are Encouraging, Still A Buy In Spite Of Cuts

My BDC Portfolio To Beat The Index And Generate Durable Income

In this article I have elaborated on my actual BDC portfolio. The objective of this portfolio is to beat the BDC-specific indices/ETFs and capture durable base dividends. The portfolio is optimized across leverage, dividend coverage, yield, and valuation levers.

My BDC Portfolio To Beat The Index And Generate Durable Income

Why BDCs Is My Favorite Sector To Invest For Durable Income

The BDC segment is my favorite area to invest for high and durable income. In fact, my highest-conviction investment is a BDC. In this article, I discuss several structural reasons why, in my view, BDCs just have to be integrated into income-oriented portfolios. Plus, I provide 12 points to focus on when investing in BDCs for maximized income, protected downside and sustainable growth.

Why BDCs Is My Favorite Sector To Invest For Durable Income

PBDC: Investigating The Source Of Outperformance

Putnam BDC Income ETF outperformed VanEck BDC Income ETF in 2023 and 2024, driven by strategic stock selection and active management. PBDC's success stems from avoiding underperformers and leveraging momentum, value, and size metrics to select holdings. The fund's overweight holdings significantly outperformed underweight ones, with a strong correlation between past and future returns.

PBDC: Investigating The Source Of Outperformance

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