HEEM vs PBDC
Comparison between ISHARES CURRENCY HEDGED MSCI EMERGING MARKETS ETF (HEEM, ETF) and Putnam BDC Income ETF (PBDC, ETF).
HEEM vs PBDC - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
HEEM
$275M
Winner
PBDC
$276M
Expense Ratio
Winner
HEEM
0.72%
PBDC
13.49%
Max Drawdown
HEEM
35.35%
Winner
PBDC
28.02%
Sharpe Ratio
Winner
HEEM
2.12
PBDC
-0.68
5Y Beta
HEEM
0.73
Winner
PBDC
0.69
P/E Ratio
HEEM
N/A
PBDC
11.91
Forward P/E
HEEM
N/A
PBDC
7.92
PEG Ratio
HEEM
N/A
PBDC
0.16
5Y Dividends CAGR
HEEM
14.21%
PBDC
N/A
P/S Ratio
HEEM
N/A
PBDC
4.03
P/B Ratio
HEEM
N/A
PBDC
0.88
HEEM vs PBDC - Holdings Comparison
HEEM and PBDC have 1 common holdings. Overlap is -23.89%
HEEM's top 25 holdings weight is 180.33%. PBDC's top 25 holdings weight is 99.98%.
| Rank | HEEM | PBDC |
|---|---|---|
| #1 | ISHARES MSCI EMERGING MARKETS ETF (EEM) - 99.95% | ARES CAPITAL CORP (ARCC) - 12.20% |
| #2 | TWD/USD PURCHASED (n/a) - 23.90% | BLUE OWL TECHNOLOGY FINANCE CORP (OTF) - 10.79% |
| #3 | KRW/USD PURCHASED (n/a) - 17.94% | BLUE OWL CAPITAL CORP ORDINARY SHARES (OBDC) - 9.71% |
| #4 | HKD/USD PURCHASED (n/a) - 17.28% | GOLUB CAPITAL BDC INC (GBDC) - 7.71% |
| #5 | INR/USD PURCHASED (n/a) - 11.18% | HERCULES CAPITAL INC (HTGC) - 6.85% |
| #6 | BRL/USD PURCHASED (n/a) - 3.92% | MAIN STREET CAPITAL CORP (MAIN) - 6.21% |
| #7 | CNH/USD PURCHASED (n/a) - 3.49% | TRINITY CAPITAL INC ORDINARY SHARES (TRIN) - 4.66% |
| #8 | MYR/USD PURCHASED (n/a) - 3.05% | SIXTH STREET SPECIALTY LENDING INC (TSLX) - 4.62% |
| #9 | ZAR/USD PURCHASED (n/a) - 3.03% | BLACKSTONE SECURED LENDING FUND ORDINARY SHARES (BXSL) - 4.27% |
| #10 | EUR/USD PURCHASED (n/a) - 1.88% | BARINGS BDC INC (BBDC) - 4.12% |
| #11 | MXN/USD PURCHASED (n/a) - 1.71% | KAYNE ANDERSON BDC INC (KBDC) - 3.91% |
| #12 | THB/USD PURCHASED (n/a) - 0.95% | MSC INCOME FUND INC ORDINARY SHARES (MSIF) - 3.31% |
| #13 | IDR/USD PURCHASED (n/a) - 0.78% | CAPITAL SOUTHWEST CORP (CSWC) - 3.15% |
| #14 | CLP/USD PURCHASED (n/a) - 0.58% | FS KKR CAPITAL CORP (FSK) - 3.15% |
| #15 | TRY/USD PURCHASED (n/a) - 0.41% | BAIN CAPITAL SPECIALTY FINANCE INC (BCSF) - 3.02% |
| #16 | BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 0.00% | SLR INVESTMENT CORP (SLRC) - 2.56% |
| #17 | CASH OFFSET (n/a) - -0.01% | MORGAN STANLEY DIRECT LENDING (MSDL) - 1.84% |
| #18 | USD CASH (n/a) - -0.37% | PENNANTPARK FLOATING RATE CAPITAL LTD (PFLT) - 1.71% |
| #19 | TRY/USD SOLD (n/a) - -0.41% | MIDCAP FINANCIAL INVESTMENT CORP (MFIC) - 1.69% |
| #20 | CLP/USD SOLD (n/a) - -0.58% | SURO CAPITAL CORP (SSSS) - 1.58% |
| #21 | IDR/USD SOLD (n/a) - -0.78% | FIDUS INVESTMENT CORP (FDUS) - 1.49% |
| #22 | THB/USD SOLD (n/a) - -0.95% | RUNWAY GROWTH FINANCE CORP ORDINARY SHARES (RWAY) - 1.31% |
| #23 | MXN/USD SOLD (n/a) - -1.71% | PUTNAM GOVERNMENT MONEY MARKET P (PGLXX) - 0.12% |
| #24 | EUR/USD SOLD (n/a) - -1.88% | CASH (n/a) - 0.00% |
| #25 | ZAR/USD SOLD (n/a) - -3.03% | N/A |
| Total Holdings | 32 | 24 |
HEEM vs PBDC - Historical Returns
Returns include dividend reinvestment.
1M
Winner
HEEM
+3.60%
PBDC
+0.15%
3M
Winner
HEEM
+18.85%
PBDC
+5.92%
6M
Winner
HEEM
+28.40%
PBDC
-9.28%
1Y
Winner
HEEM
+53.43%
PBDC
-9.95%
5Y(CAGR)
HEEM
+9.83%
PBDC
N/A
10Y(CAGR)
HEEM
+11.24%
PBDC
N/A
Max(CAGR)
HEEM
+8.51%
Winner
PBDC
+12.80%
HEEM vs PBDC - Annual Returns (2014 - 2026)
Returns include dividend reinvestment.
| Year | HEEM | PBDC |
|---|---|---|
| 2026 | +22.58% | -8.65% |
| 2025 | +34.47% | -2.34% |
| 2024 | +13.00% | +19.15% |
| 2023 | +8.27% | +28.69% |
| 2022 | -17.43% | +10.87% |
| 2021 | -2.74% | N/A |
| 2020 | +15.36% | N/A |
| 2019 | +17.92% | N/A |
| 2018 | -12.68% | N/A |
| 2017 | +26.04% | N/A |
| 2016 | +11.00% | N/A |
| 2015 | -9.15% | N/A |
| 2014 | -1.12% | N/A |
HEEM vs PBDC Drawdown Comparison
The maximum drawdown for HEEM was -33.53%, occurring on Oct 24, 2022. Recovery took 1097 trading sessions.
The maximum drawdown for PBDC was -20.29%, occurring on Mar 12, 2026. This drawdown has not yet recovered.
The current HEEM drawdown is -3.95%. The current PBDC drawdown is -15.58%.
| Rank | HEEM | PBDC |
|---|---|---|
| #1 | -33.53% Feb 17, 2021 - Jul 1, 2025 | -20.29% Feb 19, 2025 - Mar 12, 2026 |
| #2 | -28.82% Jan 26, 2018 - Aug 5, 2020 | -10.57% Mar 6, 2023 - Jun 7, 2023 |
| #3 | -27.54% Apr 27, 2015 - Jul 11, 2017 | -8.47% Jul 8, 2024 - Oct 18, 2024 |
| #4 | -10.83% Feb 25, 2026 - Apr 17, 2026 | -6.44% Nov 25, 2022 - Jan 11, 2023 |
| #5 | -8.71% Nov 21, 2014 - Jan 22, 2015 | -6.05% Sep 28, 2023 - Nov 14, 2023 |
| #6 | -8.01% Jun 2, 2026 - Jun 10, 2026 | -5.38% Oct 4, 2022 - Oct 25, 2022 |
| #7 | -5.70% Aug 26, 2020 - Oct 12, 2020 | -4.36% Oct 21, 2024 - Nov 19, 2024 |
| #8 | -5.39% Nov 21, 2017 - Jan 2, 2018 | -3.33% Jan 30, 2024 - Mar 7, 2024 |
| #9 | -5.25% Jan 25, 2021 - Feb 5, 2021 | -2.88% Aug 7, 2023 - Sep 1, 2023 |
| #10 | -4.29% Feb 20, 2015 - Apr 2, 2015 | -2.73% Jan 2, 2025 - Jan 16, 2025 |
| #11 | -4.17% Oct 8, 2025 - Oct 20, 2025 | -2.71% Nov 29, 2024 - Dec 24, 2024 |
| #12 | -4.14% Oct 29, 2025 - Dec 4, 2025 | -2.48% Feb 7, 2023 - Feb 17, 2023 |
| #13 | -4.13% May 11, 2026 - May 26, 2026 | -2.40% Sep 1, 2023 - Sep 14, 2023 |
| #14 | -3.56% Jan 22, 2015 - Feb 13, 2015 | -2.40% Jun 3, 2024 - Jul 3, 2024 |
| #15 | -3.36% Oct 6, 2014 - Oct 31, 2014 | -2.40% Nov 7, 2022 - Nov 11, 2022 |
Correlation
Correlation between HEEM and PBDC is 0.54 which considered as a moderate positive correlation - the stocks show some tendency to move together.
0.54
-101
Dividend Comparison (2014 - 2026)
HEEM vs PBDC dividend yield comparison.
| Year | HEEM | PBDC |
|---|---|---|
| 2026 | 0.00% | 2.60% |
| 2025 | 3.98% | 10.53% |
| 2024 | 2.38% | 9.29% |
| 2023 | 2.75% | 9.86% |
| 2022 | 7.49% | 3.40% |
| 2021 | 1.93% | 0.00% |
| 2020 | 1.49% | 0.00% |
| 2019 | 3.04% | 0.00% |
| 2018 | 2.37% | 0.00% |
| 2017 | 2.05% | 0.00% |
| 2016 | 1.84% | 0.00% |
| 2015 | 6.28% | 0.00% |
| 2014 | 2.04% | 0.00% |
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