PBDCvsRNMNETF Comparison
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Putnam BDC Income ETF (PBDC) belongs to the US Financials segment. RiverNorth Market Neutral ETF - USD (RNMN) is part of the US Multi-Factor segment. PBDC's top 2 sector exposures are Finance and Non-Corporate. In contrast, RNMN's top sector exposures are Finance, Non-Corporate and Consumer Non-Cyclicals. PBDC is more expensive with a Total Expense Ratio (TER) of 11.77%, versus 0.59% for RNMN. PBDC is down -10.58% year-to-date (YTD) with +$65M in YTD flows. RNMN performs better with 1.81% YTD performance, and +$2M in YTD flows. Run a side-by-side ETF comparison of PBDC and RNMN 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 RNMN 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 RNMN | -5.81%-0.34% | -4.85%-0.16% | -10.58%+1.81% | -5.46%+1.01% | +11.58%+18.22% | n/an/a |
| Flows | PBDC RNMN | -$9M-$260K | +$3M-$260K | +$65M+$2M | +$80M+$2M | +$293M+$1M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBDC RNMN | +17.66%+1.08% | +18.67%+1.71% | +16.88%+2.24% | n/an/a |
| Max drawdown | PBDC RNMN | -9.61%-0.39% | -15.60%-1.14% | -20.22%-1.95% | n/an/a |
| Max drawdown duration | PBDC RNMN | 64d33d | 274d93d | 604d75d | n/an/a |
Trading data
PBDC | RNMN | |
Last sale 10/16/2026 at 1:30 PM | $25.20 | $26.01 |
| Previous close 10/15/2026 | $25.70 | $26.02 |
| 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 | RNMN | |
|---|---|---|
| Last price | $25.20 | $26.01 |
| 1D performance | -1.95% | -0.04% |
| AuM | $265.29 M | $6.88 M |
| E/R | 11.77% | 0.59% |
Characteristics
PBDC | RNMN | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Putnam | TrueShares |
| Benchmark | - | - |
| N° of holdings | 25 | 128 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 29, 2022 | July 12, 2022 |
| ESG | No | No |
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Exposure
Countries
PBDC
USA
100%
Other
-0%
RNMN
USA
74.87%
Other
25.13%
Sectors
PBDC
Finance
99.83%
Other
0.17%
RNMN
Finance
82.75%
Other
17.25%
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Diversification
PBDC
Total weight of top 15 holdings out of 15
85.77%
RNMN
Total weight of top 15 holdings out of 15
33.75%
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%
RNMN
State Street Institutional US Government Money Market Fund
5.77%
Graf Global Corp.
2.63%
Solarius Capital Acquisition Corp.
2.10%
Activate Energy Acquisition Corp.
2.02%
Bitcoin Infrastructure Acquisition Corp. Ltd.
2.02%
Lafayette Digital Acquisition Corp. I
2.01%
SC II Acquisition Corp.
2.01%
Legato Merger Corp. IV
2.00%
United Acquisition Corp. I
2.00%
SUMA Acquisition Corp.
2.00%
EQV Ventures Acquisition Corp. II
1.99%
Hall Chadwick Acquisition Corp.
1.93%
Invest Green Acquisition Corp.
1.93%
KYG370731062
1.80%
Mountain Lake Acquisition Corp. II
1.54%
Frequently asked questions about PBDC and RNMN
How have the PBDC and RNMN ETFs performed in 2026?
As of October 16, 2026, PBDC is down -10.58% year-to-date (YTD), while RNMN has returned 1.81%. That puts RNMN better performer ahead so far this year.
Which ETF is attracting more investor money: PBDC or RNMN?
Year-to-date, the PBDC ETF saw +$65M in flows, compared to +$2M for RNMN.
Which ETF is more volatile: PBDC or RNMN?
Over the past year, PBDC had a volatility of 18.67%, while RNMN experienced 1.71%.
Which ETF is bigger: PBDC or RNMN?
As of October 16, 2026, PBDC holds $265.29 M in assets under management (AUM), while RNMN manages $6.88 M.
What sectors do the PBDC and RNMN ETFs invest in?
PBDC leans toward sectors like Finance. Meanwhile, RNMN focuses on Finance.
What are the top holdings of the PBDC ETF and RNMN ETF?
PBDC top holdings include Blue Owl Technology Finance Corp, Blue Owl Capital Corp. and Ares Capital Corp.. RNMN holds in its top three: State Street Institutional US Government Money Market Fund, Graf Global Corp. and Solarius Capital Acquisition Corp..
Which ETF is more diversified: PBDC or RNMN?
PBDC holds 25 securities with 85.77% of its assets in the top 15. RNMN has 207 securities and a top 15 weight of 33.75%.
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Latest news about PBDC & RNMN
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