PBDCvsFBDCETF Comparison
VS
ETF 2
FBDC
FT Confluence BDC & Specialty Finance Income ETF - USD
This fund is part of
Uncategorized Equities
-0.32%
Putnam BDC Income ETF (PBDC) belongs to the US Financials segment. FT Confluence BDC & Specialty Finance Income ETF - USD (FBDC) is part of the Uncategorized Equities segment. PBDC's top 2 sector exposures are Finance and Non-Corporate. In contrast, FBDC's top sector exposures are Finance. PBDC is less expensive with a Total Expense Ratio (TER) of 11.77%, versus 12.44% for FBDC. PBDC is down -10.58% year-to-date (YTD) with +$65M in YTD flows. FBDC performs better with -3.3% YTD performance, and +$2M in YTD flows. Run a side-by-side ETF comparison of PBDC and FBDC below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PBDC vs FBDC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PBDC FBDC | -5.81%-2.82% | -4.85%-0.43% | -10.58%-3.30% | -5.46%-0.95% | +11.58%n/a | n/an/a |
| Flows | PBDC FBDC | -$9M+$858K | +$3M+$2M | +$65M+$2M | +$80M-$219K | +$293M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBDC FBDC | +17.66%+16.00% | +18.67%+18.18% | +16.88%n/a | n/an/a |
| Max drawdown | PBDC FBDC | -9.61%-8.57% | -15.60%-14.81% | -20.22%n/a | n/an/a |
| Max drawdown duration | PBDC FBDC | 64d63d | 274d239d | 604dn/a | n/an/a |
Trading data
PBDC | FBDC | |
Last sale 10/16/2026 at 1:30 PM | $25.20 | $16.41 |
| Previous close 10/15/2026 | $25.70 | $16.70 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
PBDC | FBDC | |
|---|---|---|
| Last price | $25.20 | $16.41 |
| 1D performance | -1.95% | -1.74% |
| AuM | $265.29 M | $35.32 M |
| E/R | 11.77% | 12.44% |
Characteristics
PBDC | FBDC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Putnam | First Trust |
| Benchmark | - | - |
| N° of holdings | 25 | 20 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 29, 2022 | June 27, 2025 |
| ESG | No | No |
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Exposure
Countries
PBDC
USA
100%
Other
-0%
FBDC
USA
95.59%
Other
4.41%
Sectors
PBDC
Finance
99.83%
Other
0.17%
FBDC
Finance
95.59%
Other
4.41%
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Diversification
PBDC
Total weight of top 15 holdings out of 15
85.77%
FBDC
Total weight of top 15 holdings out of 15
89.25%
Top 15 holdings
Data as of August 31, 2026
PBDC
Blue Owl Technology Finance Corp
10.90%
Blue Owl Capital Corp.
10.61%
Ares Capital Corp.
10.21%
Hercules Capital, Inc.
8.50%
Main Street Capital Corp
7.80%
Golub Capital BDC, Inc.
5.30%
Trinity Capital, Inc.
4.80%
Sixth Street Specialty Lending, Inc.
4.15%
Blackstone Secured Lending Fund
4.10%
Barings BDC, Inc.
3.50%
MSC Income Fund, Inc.
3.37%
Kayne Anderson BDC, Inc.
3.33%
Capital Southwest Corp
3.29%
FS KKR Capital Corp.
3.11%
Oaktree Specialty Lending Corp.
2.78%
FBDC
Main Street Capital Corp
12.58%
Hercules Capital, Inc.
11.40%
Ares Capital Corp.
9.64%
Golub Capital BDC, Inc.
9.07%
Sixth Street Specialty Lending, Inc.
8.18%
Blackstone Secured Lending Fund
6.57%
Blue Owl Capital Corp.
6.44%
Barings BDC, Inc.
5.27%
Capital Southwest Corp
4.70%
New Mountain Finance Corp.
4.14%
MidCap Financial Investment Corp
2.64%
Bain Capital Specialty Finance, Inc.
2.33%
Oaktree Specialty Lending Corp.
2.31%
Morgan Stanley Direct Lending Fund
2.09%
Kayne Anderson BDC, Inc.
1.89%
Frequently asked questions about PBDC and FBDC
How have the PBDC and FBDC ETFs performed in 2026?
As of October 16, 2026, PBDC is down -10.58% year-to-date (YTD), while FBDC has lost -3.3%. That puts FBDC better performer ahead so far this year.
Which ETF is attracting more investor money: PBDC or FBDC?
Year-to-date, the PBDC ETF saw +$65M in flows, compared to +$2M for FBDC.
Which ETF is more volatile: PBDC or FBDC?
Over the past year, PBDC had a volatility of 18.67%, while FBDC experienced 18.18%.
Which ETF is bigger: PBDC or FBDC?
As of October 16, 2026, PBDC holds $265.29 M in assets under management (AUM), while FBDC manages $35.32 M.
What sectors do the PBDC and FBDC ETFs invest in?
PBDC leans toward sectors like Finance. Meanwhile, FBDC focuses on Finance.
What are the top holdings of the PBDC ETF and FBDC ETF?
PBDC top holdings include Blue Owl Technology Finance Corp, Blue Owl Capital Corp. and Ares Capital Corp.. FBDC holds in its top three: Main Street Capital Corp, Hercules Capital, Inc. and Ares Capital Corp..
Which ETF is more diversified: PBDC or FBDC?
PBDC holds 25 securities with 85.77% of its assets in the top 15. FBDC has 20 securities and a top 15 weight of 89.25%.
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Latest news about PBDC & FBDC
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