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PBDCvsPFFETF Comparison

ETF 1

PBDC

Putnam BDC Income ETF

This fund is part of

US Financials

+0.34%

Full PBDC fund page

VS

ETF 2

PFF

iShares Preferred and Income Securities ETF

This fund is part of

Multi-Asset: Other

-0.26%

Full PFF fund page

Putnam BDC Income ETF (PBDC) belongs to the US Financials segment. iShares Preferred and Income Securities ETF (PFF) is part of the Multi-Asset: Other segment. PBDC's top 2 sector exposures are Finance and Non-Corporate. In contrast, PFF's top sector exposures are Finance, Technology and Utilities. PBDC is more expensive with a Total Expense Ratio (TER) of 11.77%, versus 0.45% for PFF. PBDC is down -10.58% year-to-date (YTD) with +$65M in YTD flows. PFF performs better with -2.93% YTD performance, and -$1.20B in YTD flows. Run a side-by-side ETF comparison of PBDC and PFF 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 PFF performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/16/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PBDC PFF	-5.81%-2.87%	-4.85%-3.45%	-10.58%-2.93%	-5.46%-2.81%	+11.58%+19.92%	n/a-0.19%
Flows	PBDC PFF	-$9M-$249M	+$3M-$710M	+$65M-$1.20B	+$80M-$1.54B	+$293M-$129M	--$3.40B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PBDC PFF	+17.66%+7.74%	+18.67%+6.79%	+16.88%+7.72%	n/a+9.56%
Max drawdown	PBDC PFF	-9.61%-5.45%	-15.60%-6.56%	-20.22%-10.45%	n/a-20.84%
Max drawdown duration	PBDC PFF	64d64d	274d159d	604d323d	n/a992d

Trading data

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	PBDC	PFF
Last sale 10/16/2026 at 1:30 PM	$25.20	$28.86
Previous close 10/15/2026	$25.70	$29.17
Consolidated volume 10/15/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of October 19, 2026

1-year trailing difference

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PBDC

is actively managed and doesn’t replicate an index

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	PBDC	PFF
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/16/2026 at 1:30 PM

Live

Closed

	PBDC	PFF
Last price	$25.20	$28.86
1D performance	-1.95%	-1.06%
AuM	$265.29 M	$11.96 B
E/R	11.77%	0.45%

Characteristics

	PBDC	PFF
Management strategy	Active	Passive
Provider	Putnam	iShares
Benchmark	-	ICE Exchange-Listed Preferred & Hybrid Securities Index
N° of holdings	25	281
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	September 29, 2022	March 26, 2007
ESG	No	No

More PBDC data on Trackinsight

More PFF data on Trackinsight

Exposure

Countries

PBDC

USA

100%

Other

-0%

PFF

USA

96.7%

Other

3.3%

Sectors

PBDC

Finance

99.83%

Other

0.17%

PFF

Finance

63.49%

Technology

12.03%

Utilities

10.37%

Other

14.11%

Diversification

PBDC

Total weight of top 15 holdings out of 15

85.77%

PFF

Total weight of top 15 holdings out of 15

28.1%

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%

PFF

The Boeing Co.

3.55%

Strategy, Inc.

3.45%

Alphabet, Inc.

2.35%

Super Micro Computer, Inc.

2.24%

Alphabet, Inc.

2.22%

Oracle Corp.

2.22%

Wells Fargo & Co.

2.16%

Hewlett Packard Enterprise Co.

1.91%

Bank of America Corp.

1.46%

Albemarle Corp.

1.20%

KKR & Co., Inc.

1.20%

Citigroup, 7.875% 30oct2040, USD

1.12%

BlackRock Cash Funds - Treasury

1.06%

NextEra Energy, 7.375% 15feb2029, USD (Conv.)

0.99%

NextEra Energy, 5.15% 1jun2029, USD

0.97%

Frequently asked questions about PBDC and PFF

How have the PBDC and PFF ETFs performed in 2026?

As of October 16, 2026, PBDC is down -10.58% year-to-date (YTD), while PFF has lost -2.93%. That puts PFF better performer ahead so far this year.

Which ETF is attracting more investor money: PBDC or PFF?

Year-to-date, the PBDC ETF saw +$65M in flows, compared to -$1.20B for PFF.

Which ETF is more volatile: PBDC or PFF?

Over the past year, PBDC had a volatility of 18.67%, while PFF experienced 6.79%.

Which ETF is bigger: PBDC or PFF?

As of October 16, 2026, PBDC holds $265.29 M in assets under management (AUM), while PFF manages $11.96 B.

What sectors do the PBDC and PFF ETFs invest in?

PBDC leans toward sectors like Finance. Meanwhile, PFF focuses on Finance, Technology and Utilities.

What are the top holdings of the PBDC ETF and PFF ETF?

PBDC top holdings include Blue Owl Technology Finance Corp, Blue Owl Capital Corp. and Ares Capital Corp.. PFF holds in its top three: The Boeing Co., Strategy, Inc. and Alphabet, Inc..

Which ETF is more diversified: PBDC or PFF?

PBDC holds 25 securities with 85.77% of its assets in the top 15. PFF has 460 securities and a top 15 weight of 28.1%.

Business Development Company (BDC) ETFs Slide as Private Credit Risks Weigh on Investor Sentiment

October 31, 2025

PBDC

PBDCvsPFFETF Comparison

Putnam BDC Income ETF

iShares Preferred and Income Securities ETF

PBDC vs PFF performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the PBDC and PFF ETFs performed in 2026?

As of October 16, 2026, PBDC is down -10.58% year-to-date (YTD), while PFF has lost -2.93%. That puts PFF better performer ahead so far this year.

Which ETF is attracting more investor money: PBDC or PFF?

Year-to-date, the PBDC ETF saw +$65M in flows, compared to -$1.20B for PFF.

Which ETF is more volatile: PBDC or PFF?

Over the past year, PBDC had a volatility of 18.67%, while PFF experienced 6.79%.

Which ETF is bigger: PBDC or PFF?

As of October 16, 2026, PBDC holds $265.29 M in assets under management (AUM), while PFF manages $11.96 B.

What sectors do the PBDC and PFF ETFs invest in?

PBDC leans toward sectors like Finance. Meanwhile, PFF focuses on Finance, Technology and Utilities.

What are the top holdings of the PBDC ETF and PFF ETF?

PBDC top holdings include Blue Owl Technology Finance Corp, Blue Owl Capital Corp. and Ares Capital Corp.. PFF holds in its top three: The Boeing Co., Strategy, Inc. and Alphabet, Inc..

Which ETF is more diversified: PBDC or PFF?

PBDC holds 25 securities with 85.77% of its assets in the top 15. PFF has 460 securities and a top 15 weight of 28.1%.

Business Development Company (BDC) ETFs Slide as Private Credit Risks Weigh on Investor Sentiment

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