PBDC vs BTAL
Comparison between Putnam BDC Income ETF (PBDC, ETF) and AGF U.S. MARKET NEUTRAL ANTI-BETA FUND (BTAL, ETF).
PBDC vs BTAL - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PBDC
$276M
BTAL
$276M
Expense Ratio
PBDC
13.49%
Winner
BTAL
1.40%
Max Drawdown
Winner
PBDC
28.02%
BTAL
56.68%
Sharpe Ratio
Winner
PBDC
-0.68
BTAL
-2.02
5Y Beta
PBDC
0.69
Winner
BTAL
-0.84
P/E Ratio
PBDC
11.91
BTAL
N/A
Forward P/E
PBDC
7.92
BTAL
N/A
PEG Ratio
PBDC
0.16
BTAL
N/A
P/S Ratio
PBDC
4.03
BTAL
N/A
P/B Ratio
PBDC
0.88
BTAL
N/A
PBDC vs BTAL - Holdings Comparison
PBDC and BTAL have 1 common holdings. Overlap is -2.41%
PBDC's top 25 holdings weight is 99.98%. BTAL's top 25 holdings weight is 108.81%.
| Rank | PBDC | BTAL |
|---|---|---|
| #1 | ARES CAPITAL CORP (ARCC) - 12.20% | CASH (n/a) - 97.58% |
| #2 | BLUE OWL TECHNOLOGY FINANCE CORP (OTF) - 10.79% | OKTA INC CLASS A (OKTA) - 0.61% |
| #3 | BLUE OWL CAPITAL CORP ORDINARY SHARES (OBDC) - 9.71% | SAILPOINT INC (SAIL) - 0.54% |
| #4 | GOLUB CAPITAL BDC INC (GBDC) - 7.71% | CLOUDFLARE INC (NET) - 0.52% |
| #5 | HERCULES CAPITAL INC (HTGC) - 6.85% | INTERNATIONAL BUSINESS MACHINES CORP (IBM) - 0.52% |
| #6 | MAIN STREET CAPITAL CORP (MAIN) - 6.21% | NEXTPOWER INC CLASS A (NXT) - 0.51% |
| #7 | TRINITY CAPITAL INC ORDINARY SHARES (TRIN) - 4.66% | SAMSARA INC ORDINARY SHARES CLASS A (IOT) - 0.50% |
| #8 | SIXTH STREET SPECIALTY LENDING INC (TSLX) - 4.62% | RIVIAN AUTOMOTIVE INC CLASS A (RIVN) - 0.50% |
| #9 | BLACKSTONE SECURED LENDING FUND ORDINARY SHARES (BXSL) - 4.27% | BORGWARNER INC (BWA) - 0.48% |
| #10 | BARINGS BDC INC (BBDC) - 4.12% | GUIDEWIRE SOFTWARE INC (GWRE) - 0.48% |
| #11 | KAYNE ANDERSON BDC INC (KBDC) - 3.91% | UIPATH INC CLASS A (PATH) - 0.47% |
| #12 | MSC INCOME FUND INC ORDINARY SHARES (MSIF) - 3.31% | DYNATRACE INC ORDINARY SHARES (DT) - 0.46% |
| #13 | CAPITAL SOUTHWEST CORP (CSWC) - 3.15% | CACI INTERNATIONAL INC CLASS A (CACI) - 0.46% |
| #14 | FS KKR CAPITAL CORP (FSK) - 3.15% | CISCO SYSTEMS INC (CSCO) - 0.45% |
| #15 | BAIN CAPITAL SPECIALTY FINANCE INC (BCSF) - 3.02% | INTUIT INC (INTU) - 0.45% |
| #16 | SLR INVESTMENT CORP (SLRC) - 2.56% | CCC INTELLIGENT SOLUTIONS HOLDINGS INC (CCC) - 0.45% |
| #17 | MORGAN STANLEY DIRECT LENDING (MSDL) - 1.84% | AKAMAI TECHNOLOGIES INC (AKAM) - 0.45% |
| #18 | PENNANTPARK FLOATING RATE CAPITAL LTD (PFLT) - 1.71% | GARTNER INC (IT) - 0.45% |
| #19 | MIDCAP FINANCIAL INVESTMENT CORP (MFIC) - 1.69% | PAYCHEX INC (PAYX) - 0.44% |
| #20 | SURO CAPITAL CORP (SSSS) - 1.58% | MOTOROLA SOLUTIONS INC (MSI) - 0.44% |
| #21 | FIDUS INVESTMENT CORP (FDUS) - 1.49% | NEW YORK TIMES CO CLASS A (NYT) - 0.41% |
| #22 | RUNWAY GROWTH FINANCE CORP ORDINARY SHARES (RWAY) - 1.31% | AUTODESK INC (ADSK) - 0.41% |
| #23 | PUTNAM GOVERNMENT MONEY MARKET P (PGLXX) - 0.12% | AUTOZONE INC (AZO) - 0.41% |
| #24 | CASH (n/a) - 0.00% | QUEST DIAGNOSTICS INC (DGX) - 0.41% |
| #25 | N/A | H&R BLOCK INC (HRB) - 0.41% |
| Total Holdings | 24 | 366 |
PBDC vs BTAL - Historical Returns
Returns include dividend reinvestment.
1M
Winner
PBDC
+0.15%
BTAL
-4.41%
3M
Winner
PBDC
+5.92%
BTAL
-19.99%
6M
Winner
PBDC
-9.28%
BTAL
-19.28%
1Y
Winner
PBDC
-9.95%
BTAL
-36.62%
5Y(CAGR)
PBDC
N/A
BTAL
-4.95%
10Y(CAGR)
PBDC
N/A
BTAL
-4.98%
Max(CAGR)
Winner
PBDC
+12.80%
BTAL
-4.04%
PBDC vs BTAL - Annual Returns (2011 - 2026)
Returns include dividend reinvestment.
| Year | PBDC | BTAL |
|---|---|---|
| 2026 | -8.65% | -18.22% |
| 2025 | -2.34% | -19.89% |
| 2024 | +19.15% | +10.73% |
| 2023 | +28.69% | -16.21% |
| 2022 | +10.87% | +21.71% |
| 2021 | N/A | -7.35% |
| 2020 | N/A | -13.74% |
| 2019 | N/A | +2.04% |
| 2018 | N/A | +16.45% |
| 2017 | N/A | -1.13% |
| 2016 | N/A | -5.06% |
| 2015 | N/A | +4.33% |
| 2014 | N/A | +8.06% |
| 2013 | N/A | -11.09% |
| 2012 | N/A | -7.04% |
| 2011 | N/A | -2.50% |
PBDC vs BTAL Drawdown Comparison
The maximum drawdown for PBDC was -20.29%, occurring on Mar 12, 2026. This drawdown has not yet recovered.
The maximum drawdown for BTAL was -50.29%, occurring on Jun 2, 2026. This drawdown has not yet recovered.
The current PBDC drawdown is -15.58%. The current BTAL drawdown is -50.25%.
| Rank | PBDC | BTAL |
|---|---|---|
| #1 | -20.29% Feb 19, 2025 - Mar 12, 2026 | -50.29% Mar 12, 2020 - Jun 2, 2026 |
| #2 | -10.57% Mar 6, 2023 - Jun 7, 2023 | -29.52% Oct 3, 2011 - Mar 9, 2020 |
| #3 | -8.47% Jul 8, 2024 - Oct 18, 2024 | -2.13% Sep 26, 2011 - Sep 29, 2011 |
| #4 | -6.44% Nov 25, 2022 - Jan 11, 2023 | -1.62% Sep 13, 2011 - Sep 21, 2011 |
| #5 | -6.05% Sep 28, 2023 - Nov 14, 2023 | -1.46% Mar 9, 2020 - Mar 12, 2020 |
| #6 | -5.38% Oct 4, 2022 - Oct 25, 2022 | N/A |
| #7 | -4.36% Oct 21, 2024 - Nov 19, 2024 | N/A |
| #8 | -3.33% Jan 30, 2024 - Mar 7, 2024 | N/A |
| #9 | -2.88% Aug 7, 2023 - Sep 1, 2023 | N/A |
| #10 | -2.73% Jan 2, 2025 - Jan 16, 2025 | N/A |
| #11 | -2.71% Nov 29, 2024 - Dec 24, 2024 | N/A |
| #12 | -2.48% Feb 7, 2023 - Feb 17, 2023 | N/A |
| #13 | -2.40% Sep 1, 2023 - Sep 14, 2023 | N/A |
| #14 | -2.40% Jun 3, 2024 - Jul 3, 2024 | N/A |
| #15 | -2.40% Nov 7, 2022 - Nov 11, 2022 | N/A |
Correlation
Correlation between PBDC and BTAL 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)
PBDC vs BTAL dividend yield comparison.
| Year | PBDC | BTAL |
|---|---|---|
| 2026 | 2.60% | 0.00% |
| 2025 | 10.53% | 2.49% |
| 2024 | 9.29% | 3.49% |
| 2023 | 9.86% | 6.14% |
| 2022 | 3.40% | 1.01% |
| 2019 | 0.00% | 0.88% |
| 2018 | 0.00% | 0.39% |
| 2012 | 0.00% | 0.00% |
| 2011 | 0.00% | 1.80% |
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