BTAL vs PBDC
Comparison between AGF U.S. MARKET NEUTRAL ANTI-BETA FUND (BTAL, ETF) and Putnam BDC Income ETF (PBDC, ETF).
BTAL vs PBDC - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
BTAL
$276M
PBDC
$276M
Expense Ratio
Winner
BTAL
1.40%
PBDC
13.49%
Max Drawdown
BTAL
56.68%
Winner
PBDC
28.02%
Sharpe Ratio
BTAL
-2.02
Winner
PBDC
-0.68
5Y Beta
Winner
BTAL
-0.84
PBDC
0.69
P/E Ratio
BTAL
N/A
PBDC
11.91
Forward P/E
BTAL
N/A
PBDC
7.92
PEG Ratio
BTAL
N/A
PBDC
0.16
P/S Ratio
BTAL
N/A
PBDC
4.03
P/B Ratio
BTAL
N/A
PBDC
0.88
BTAL vs PBDC - Holdings Comparison
BTAL and PBDC have 1 common holdings. Overlap is -2.41%
BTAL's top 25 holdings weight is 108.81%. PBDC's top 25 holdings weight is 99.98%.
| Rank | BTAL | PBDC |
|---|---|---|
| #1 | CASH (n/a) - 97.58% | ARES CAPITAL CORP (ARCC) - 12.20% |
| #2 | OKTA INC CLASS A (OKTA) - 0.61% | BLUE OWL TECHNOLOGY FINANCE CORP (OTF) - 10.79% |
| #3 | SAILPOINT INC (SAIL) - 0.54% | BLUE OWL CAPITAL CORP ORDINARY SHARES (OBDC) - 9.71% |
| #4 | CLOUDFLARE INC (NET) - 0.52% | GOLUB CAPITAL BDC INC (GBDC) - 7.71% |
| #5 | INTERNATIONAL BUSINESS MACHINES CORP (IBM) - 0.52% | HERCULES CAPITAL INC (HTGC) - 6.85% |
| #6 | NEXTPOWER INC CLASS A (NXT) - 0.51% | MAIN STREET CAPITAL CORP (MAIN) - 6.21% |
| #7 | SAMSARA INC ORDINARY SHARES CLASS A (IOT) - 0.50% | TRINITY CAPITAL INC ORDINARY SHARES (TRIN) - 4.66% |
| #8 | RIVIAN AUTOMOTIVE INC CLASS A (RIVN) - 0.50% | SIXTH STREET SPECIALTY LENDING INC (TSLX) - 4.62% |
| #9 | BORGWARNER INC (BWA) - 0.48% | BLACKSTONE SECURED LENDING FUND ORDINARY SHARES (BXSL) - 4.27% |
| #10 | GUIDEWIRE SOFTWARE INC (GWRE) - 0.48% | BARINGS BDC INC (BBDC) - 4.12% |
| #11 | UIPATH INC CLASS A (PATH) - 0.47% | KAYNE ANDERSON BDC INC (KBDC) - 3.91% |
| #12 | DYNATRACE INC ORDINARY SHARES (DT) - 0.46% | MSC INCOME FUND INC ORDINARY SHARES (MSIF) - 3.31% |
| #13 | CACI INTERNATIONAL INC CLASS A (CACI) - 0.46% | CAPITAL SOUTHWEST CORP (CSWC) - 3.15% |
| #14 | CISCO SYSTEMS INC (CSCO) - 0.45% | FS KKR CAPITAL CORP (FSK) - 3.15% |
| #15 | INTUIT INC (INTU) - 0.45% | BAIN CAPITAL SPECIALTY FINANCE INC (BCSF) - 3.02% |
| #16 | CCC INTELLIGENT SOLUTIONS HOLDINGS INC (CCC) - 0.45% | SLR INVESTMENT CORP (SLRC) - 2.56% |
| #17 | AKAMAI TECHNOLOGIES INC (AKAM) - 0.45% | MORGAN STANLEY DIRECT LENDING (MSDL) - 1.84% |
| #18 | GARTNER INC (IT) - 0.45% | PENNANTPARK FLOATING RATE CAPITAL LTD (PFLT) - 1.71% |
| #19 | PAYCHEX INC (PAYX) - 0.44% | MIDCAP FINANCIAL INVESTMENT CORP (MFIC) - 1.69% |
| #20 | MOTOROLA SOLUTIONS INC (MSI) - 0.44% | SURO CAPITAL CORP (SSSS) - 1.58% |
| #21 | NEW YORK TIMES CO CLASS A (NYT) - 0.41% | FIDUS INVESTMENT CORP (FDUS) - 1.49% |
| #22 | AUTODESK INC (ADSK) - 0.41% | RUNWAY GROWTH FINANCE CORP ORDINARY SHARES (RWAY) - 1.31% |
| #23 | AUTOZONE INC (AZO) - 0.41% | PUTNAM GOVERNMENT MONEY MARKET P (PGLXX) - 0.12% |
| #24 | QUEST DIAGNOSTICS INC (DGX) - 0.41% | CASH (n/a) - 0.00% |
| #25 | H&R BLOCK INC (HRB) - 0.41% | N/A |
| Total Holdings | 366 | 24 |
BTAL vs PBDC - Historical Returns
Returns include dividend reinvestment.
1M
BTAL
-4.41%
Winner
PBDC
+0.15%
3M
BTAL
-19.99%
Winner
PBDC
+5.92%
6M
BTAL
-19.28%
Winner
PBDC
-9.28%
1Y
BTAL
-36.62%
Winner
PBDC
-9.95%
5Y(CAGR)
BTAL
-4.95%
PBDC
N/A
10Y(CAGR)
BTAL
-4.98%
PBDC
N/A
Max(CAGR)
BTAL
-4.04%
Winner
PBDC
+12.80%
BTAL vs PBDC - Annual Returns (2011 - 2026)
Returns include dividend reinvestment.
| Year | BTAL | PBDC |
|---|---|---|
| 2026 | -18.22% | -8.65% |
| 2025 | -19.89% | -2.34% |
| 2024 | +10.73% | +19.15% |
| 2023 | -16.21% | +28.69% |
| 2022 | +21.71% | +10.87% |
| 2021 | -7.35% | N/A |
| 2020 | -13.74% | N/A |
| 2019 | +2.04% | N/A |
| 2018 | +16.45% | N/A |
| 2017 | -1.13% | N/A |
| 2016 | -5.06% | N/A |
| 2015 | +4.33% | N/A |
| 2014 | +8.06% | N/A |
| 2013 | -11.09% | N/A |
| 2012 | -7.04% | N/A |
| 2011 | -2.50% | N/A |
BTAL vs PBDC Drawdown Comparison
The maximum drawdown for BTAL was -50.29%, occurring on Jun 2, 2026. This drawdown has not yet recovered.
The maximum drawdown for PBDC was -20.29%, occurring on Mar 12, 2026. This drawdown has not yet recovered.
The current BTAL drawdown is -50.25%. The current PBDC drawdown is -15.58%.
| Rank | BTAL | PBDC |
|---|---|---|
| #1 | -50.29% Mar 12, 2020 - Jun 2, 2026 | -20.29% Feb 19, 2025 - Mar 12, 2026 |
| #2 | -29.52% Oct 3, 2011 - Mar 9, 2020 | -10.57% Mar 6, 2023 - Jun 7, 2023 |
| #3 | -2.13% Sep 26, 2011 - Sep 29, 2011 | -8.47% Jul 8, 2024 - Oct 18, 2024 |
| #4 | -1.62% Sep 13, 2011 - Sep 21, 2011 | -6.44% Nov 25, 2022 - Jan 11, 2023 |
| #5 | -1.46% Mar 9, 2020 - Mar 12, 2020 | -6.05% Sep 28, 2023 - Nov 14, 2023 |
| #6 | N/A | -5.38% Oct 4, 2022 - Oct 25, 2022 |
| #7 | N/A | -4.36% Oct 21, 2024 - Nov 19, 2024 |
| #8 | N/A | -3.33% Jan 30, 2024 - Mar 7, 2024 |
| #9 | N/A | -2.88% Aug 7, 2023 - Sep 1, 2023 |
| #10 | N/A | -2.73% Jan 2, 2025 - Jan 16, 2025 |
| #11 | N/A | -2.71% Nov 29, 2024 - Dec 24, 2024 |
| #12 | N/A | -2.48% Feb 7, 2023 - Feb 17, 2023 |
| #13 | N/A | -2.40% Sep 1, 2023 - Sep 14, 2023 |
| #14 | N/A | -2.40% Jun 3, 2024 - Jul 3, 2024 |
| #15 | N/A | -2.40% Nov 7, 2022 - Nov 11, 2022 |
Correlation
Correlation between BTAL and PBDC is -0.17 which considered as a very weak or no correlation - the stocks move independently of each other.
-0.17
-101
Dividend Comparison (2011 - 2026)
BTAL vs PBDC dividend yield comparison.
| Year | BTAL | PBDC |
|---|---|---|
| 2026 | 0.00% | 2.60% |
| 2025 | 2.49% | 10.53% |
| 2024 | 3.49% | 9.29% |
| 2023 | 6.14% | 9.86% |
| 2022 | 1.01% | 3.40% |
| 2019 | 0.88% | 0.00% |
| 2018 | 0.39% | 0.00% |
| 2012 | 0.00% | 0.00% |
| 2011 | 1.80% | 0.00% |
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