PBDC vs QLTI
Comparison between Putnam BDC Income ETF (PBDC, ETF) and GMO INTERNATIONAL QUALITY ETF (QLTI, ETF).
PBDC vs QLTI - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PBDC
$278M
Winner
QLTI
$279M
Expense Ratio
PBDC
13.49%
Winner
QLTI
0.60%
Max Drawdown
PBDC
28.02%
Winner
QLTI
14.82%
Sharpe Ratio
PBDC
-0.65
Winner
QLTI
0.01
5Y Beta
PBDC
0.69
Winner
QLTI
0.66
P/E Ratio
PBDC
11.97
QLTI
N/A
Forward P/E
PBDC
8.07
QLTI
N/A
PEG Ratio
PBDC
0.17
QLTI
N/A
P/S Ratio
PBDC
4.06
QLTI
N/A
P/B Ratio
PBDC
0.89
QLTI
N/A
PBDC vs QLTI - Holdings Comparison
PBDC and QLTI have 1 common holdings. Overlap is -0.05%
PBDC's top 25 holdings weight is 100.00%. QLTI's top 25 holdings weight is 85.48%.
| Rank | PBDC | QLTI |
|---|---|---|
| #1 | ARES CAPITAL CORP (ARCC) - 12.27% | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR (TSM) - 5.77% |
| #2 | BLUE OWL TECHNOLOGY FINANCE CORP (OTF) - 10.55% | INDUSTRIA DE DISENO TEXTIL SA SHARE FROM SPLIT (n/a) - 4.97% |
| #3 | BLUE OWL CAPITAL CORP ORDINARY SHARES (OBDC) - 9.83% | NOVARTIS AG ADR (NVS) - 4.04% |
| #4 | GOLUB CAPITAL BDC INC (GBDC) - 7.71% | AIR LIQUIDE SA ADR (AIQUY) - 3.92% |
| #5 | HERCULES CAPITAL INC (HTGC) - 7.03% | L'OREAL SA ADR (LRLCY) - 3.90% |
| #6 | MAIN STREET CAPITAL CORP (MAIN) - 6.25% | LVMH MOET HENNESSY LOUIS VUITTON SE ADR (LVMUY) - 3.81% |
| #7 | TRINITY CAPITAL INC ORDINARY SHARES (TRIN) - 4.61% | ROCHE HOLDING AG ADR (RHHBY) - 3.77% |
| #8 | SIXTH STREET SPECIALTY LENDING INC (TSLX) - 4.51% | HALEON PLC ADR (HLN) - 3.61% |
| #9 | BLACKSTONE SECURED LENDING FUND ORDINARY SHARES (BXSL) - 4.32% | KERRY GROUP PLC CLASS A (n/a) - 3.56% |
| #10 | BARINGS BDC INC (BBDC) - 4.02% | ASML HOLDING NV ADR (ASML) - 3.47% |
| #11 | KAYNE ANDERSON BDC INC (KBDC) - 4.01% | SAP SE ADR (SAP) - 3.36% |
| #12 | MSC INCOME FUND INC ORDINARY SHARES (MSIF) - 3.38% | SAFRAN SA ADR (SAFRY) - 3.34% |
| #13 | FS KKR CAPITAL CORP (FSK) - 3.18% | UNILEVER PLC ADR (UL) - 3.30% |
| #14 | CAPITAL SOUTHWEST CORP (CSWC) - 3.13% | NESTLE SA ADR (NSRGY) - 3.24% |
| #15 | BAIN CAPITAL SPECIALTY FINANCE INC (BCSF) - 3.06% | COMPASS GROUP PLC ADR (CMPGY) - 3.19% |
| #16 | SLR INVESTMENT CORP (SLRC) - 2.67% | KNORR-BREMSE AG BEARER SHARES (n/a) - 3.18% |
| #17 | MORGAN STANLEY DIRECT LENDING (MSDL) - 1.73% | ASSA ABLOY AB CLASS B (n/a) - 3.17% |
| #18 | PENNANTPARK FLOATING RATE CAPITAL LTD (PFLT) - 1.70% | BRAMBLES LTD (n/a) - 3.15% |
| #19 | MIDCAP FINANCIAL INVESTMENT CORP (MFIC) - 1.68% | SHIN-ETSU CHEMICAL CO LTD DR (SHECY) - 3.12% |
| #20 | FIDUS INVESTMENT CORP (FDUS) - 1.51% | AMADEUS IT GROUP SA (n/a) - 3.02% |
| #21 | SURO CAPITAL CORP (SSSS) - 1.49% | HOYA CORP (n/a) - 2.86% |
| #22 | RUNWAY GROWTH FINANCE CORP ORDINARY SHARES (RWAY) - 1.31% | KONE OYJ CLASS B (n/a) - 2.56% |
| #23 | PUTNAM GOVERNMENT MONEY MARKET P (PGLXX) - 0.05% | DIAGEO PLC ADR (DEO) - 2.47% |
| #24 | CASH (n/a) - 0.00% | DASSAULT SYSTEMES SE (n/a) - 2.35% |
| #25 | N/A | SCHNEIDER ELECTRIC SE ADR (SBGSY) - 2.35% |
| Total Holdings | 24 | 43 |
PBDC vs QLTI - Historical Returns
Returns include dividend reinvestment.
1M
PBDC
-6.23%
Winner
QLTI
+1.28%
3M
Winner
PBDC
+0.70%
QLTI
-1.06%
6M
PBDC
-10.10%
Winner
QLTI
+0.28%
1Y
PBDC
-9.61%
Winner
QLTI
+2.76%
Max(CAGR)
Winner
PBDC
+12.56%
QLTI
+3.69%
PBDC vs QLTI - Annual Returns (2022 - 2026)
Returns include dividend reinvestment.
| Year | PBDC | QLTI |
|---|---|---|
| 2026 | -9.58% | -1.97% |
| 2025 | -2.34% | +17.49% |
| 2024 | +19.15% | -8.17% |
| 2023 | +28.69% | N/A |
| 2022 | +10.87% | N/A |
PBDC vs QLTI 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 QLTI was -14.82%, occurring on Apr 8, 2025. Recovery took 52 trading sessions.
The current PBDC drawdown is -16.44%. The current QLTI drawdown is -6.86%.
| Rank | PBDC | QLTI |
|---|---|---|
| #1 | -20.29% Feb 19, 2025 - Mar 12, 2026 | -14.82% Mar 5, 2025 - May 19, 2025 |
| #2 | -10.57% Mar 6, 2023 - Jun 7, 2023 | -13.72% Feb 24, 2026 - Mar 27, 2026 |
| #3 | -8.47% Jul 8, 2024 - Oct 18, 2024 | -8.56% Oct 29, 2024 - Mar 5, 2025 |
| #4 | -6.44% Nov 25, 2022 - Jan 11, 2023 | -6.96% Oct 20, 2025 - Dec 26, 2025 |
| #5 | -6.05% Sep 28, 2023 - Nov 14, 2023 | -6.52% Jul 10, 2025 - Oct 2, 2025 |
| #6 | -5.38% Oct 4, 2022 - Oct 25, 2022 | -4.29% Jun 12, 2025 - Jul 10, 2025 |
| #7 | -4.36% Oct 21, 2024 - Nov 19, 2024 | -2.86% Oct 6, 2025 - Oct 16, 2025 |
| #8 | -3.33% Jan 30, 2024 - Mar 7, 2024 | -2.59% Jan 27, 2026 - Feb 9, 2026 |
| #9 | -2.88% Aug 7, 2023 - Sep 1, 2023 | -2.10% Jan 12, 2026 - Jan 23, 2026 |
| #10 | -2.73% Jan 2, 2025 - Jan 16, 2025 | -1.31% Feb 10, 2026 - Feb 20, 2026 |
| #11 | -2.71% Nov 29, 2024 - Dec 24, 2024 | -0.97% May 27, 2025 - Jun 2, 2025 |
| #12 | -2.48% Feb 7, 2023 - Feb 17, 2023 | -0.87% Jun 2, 2025 - Jun 4, 2025 |
| #13 | -2.40% Sep 1, 2023 - Sep 14, 2023 | -0.87% May 20, 2025 - May 27, 2025 |
| #14 | -2.40% Jun 3, 2024 - Jul 3, 2024 | -0.82% Feb 20, 2026 - Feb 24, 2026 |
| #15 | -2.40% Nov 7, 2022 - Nov 11, 2022 | -0.51% Jun 10, 2025 - Jun 12, 2025 |
Correlation
Correlation between PBDC and QLTI is -0.55 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.
-0.55
-101
Dividend Comparison (2022 - 2026)
PBDC vs QLTI dividend yield comparison.
| Year | PBDC | QLTI |
|---|---|---|
| 2026 | 2.63% | 0.00% |
| 2025 | 10.53% | 0.52% |
| 2024 | 9.29% | 0.19% |
| 2023 | 9.86% | 0.00% |
| 2022 | 3.40% | 0.00% |
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