PBDCvsPSKETF Comparison
VS
ETF 2
PSK
State Street SPDR ICE Preferred Securities ETF
Putnam BDC Income ETF (PBDC) belongs to the US Financials segment. State Street SPDR ICE Preferred Securities ETF (PSK) is part of the segment. PBDC's top 2 sector exposures are Finance and Non-Corporate. In contrast, PSK's top sector exposures are Finance, Utilities and Telecommunications. PBDC is more expensive with a Total Expense Ratio (TER) of 11.77%, versus 0.45% for PSK. PBDC is down -10.58% year-to-date (YTD) with +$65M in YTD flows. PSK performs better with -6.49% YTD performance, and -$70M in YTD flows. Run a side-by-side ETF comparison of PBDC and PSK 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 PSK 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 PSK | -5.81%-2.66% | -4.85%-5.81% | -10.58%-6.49% | -5.46%-7.81% | +11.58%+11.21% | n/a-10.48% |
| Flows | PBDC PSK | -$9M-$14M | +$3M-$22M | +$65M-$70M | +$80M-$83M | +$293M-$90M | --$417M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBDC PSK | +17.66%+6.15% | +18.67%+5.23% | +16.88%+7.63% | n/a+10.10% |
| Max drawdown | PBDC PSK | -9.61%-6.91% | -15.60%-9.97% | -20.22%-10.90% | n/a-21.99% |
| Max drawdown duration | PBDC PSK | 64d89d | 274d241d | 604d730d | n/a1804d |
Trading data
PBDC | PSK | |
Last sale 10/16/2026 at 1:30 PM | $25.20 | $28.19 |
| Previous close 10/15/2026 | $25.70 | $28.36 |
| 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 indexPBDC | PSK | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
PBDC | PSK | |
|---|---|---|
| Last price | $25.20 | $28.19 |
| 1D performance | -1.95% | -0.60% |
| AuM | $265.29 M | $629.32 M |
| E/R | 11.77% | 0.45% |
Characteristics
PBDC | PSK | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Putnam | State Street Investment Management |
| Benchmark | - | ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index |
| N° of holdings | 25 | 95 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 29, 2022 | September 16, 2009 |
| ESG | No | No |
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Exposure
Countries
PBDC
USA
100%
Other
-0%
PSK
USA
94.22%
Other
5.78%
Sectors
PBDC
Finance
99.83%
Other
0.17%
PSK
Finance
77.64%
Utilities
14.73%
Other
7.63%
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Diversification
PBDC
Total weight of top 15 holdings out of 15
85.77%
PSK
Total weight of top 15 holdings out of 15
20.28%
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%
PSK
Citigroup, 7.875% 30oct2040, USD
3.30%
Wells Fargo & Co.
1.59%
Capital One Financial Corp.
1.47%
AT&T Inc, 5.35% 1nov2066, USD
1.44%
Duke Energy Corp.
1.34%
The Allstate Corp.
1.20%
Capital One Financial Corp.
1.18%
JPMorgan Chase & Co.
1.16%
Athene Holding Ltd.
1.15%
NextEra Energy Capital Holdings, 6.5% 1jun2085, USD (U)
1.14%
Xcel Energy, 6.25% 15oct2085, USD
1.14%
M&T Bank Corp.
1.11%
Southern Co., 4.95% 30jan2080, USD (2020A)
1.03%
U.S. Bancorp
1.02%
Reinsurance Group of America, 7.125% 15oct2052, USD
1.01%
Frequently asked questions about PBDC and PSK
How have the PBDC and PSK ETFs performed in 2026?
As of October 16, 2026, PBDC is down -10.58% year-to-date (YTD), while PSK has lost -6.49%. That puts PSK better performer ahead so far this year.
Which ETF is attracting more investor money: PBDC or PSK?
Year-to-date, the PBDC ETF saw +$65M in flows, compared to -$70M for PSK.
Which ETF is more volatile: PBDC or PSK?
Over the past year, PBDC had a volatility of 18.67%, while PSK experienced 5.23%.
Which ETF is bigger: PBDC or PSK?
As of October 16, 2026, PBDC holds $265.29 M in assets under management (AUM), while PSK manages $629.32 M.
What sectors do the PBDC and PSK ETFs invest in?
PBDC leans toward sectors like Finance. Meanwhile, PSK focuses on Finance and Utilities.
What are the top holdings of the PBDC ETF and PSK ETF?
PBDC top holdings include Blue Owl Technology Finance Corp, Blue Owl Capital Corp. and Ares Capital Corp.. PSK holds in its top three: Citigroup, 7.875% 30oct2040, USD, Wells Fargo & Co. and Capital One Financial Corp..
Which ETF is more diversified: PBDC or PSK?
PBDC holds 25 securities with 85.77% of its assets in the top 15. PSK has 165 securities and a top 15 weight of 20.28%.
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