PBDCvsVPCETF Comparison
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Putnam BDC Income ETF (PBDC) belongs to the US Financials segment. Virtus Private Credit Strategy ETF (VPC) is part of the Multi-Asset: Other segment. Both ETFs have the same top 2 sector exposures: Finance and Non-Corporate. PBDC is more expensive with a Total Expense Ratio (TER) of 11.77%, versus 10.6% for VPC. PBDC is down -10.58% year-to-date (YTD) with +$65M in YTD flows. VPC performs worse with -12.99% YTD performance, and -$9M in YTD flows. Run a side-by-side ETF comparison of PBDC and VPC 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 VPC 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 VPC | -5.81%-5.64% | -4.85%-3.87% | -10.58%-12.99% | -5.46%-10.22% | +11.58%-3.82% | n/a+0.80% |
| Flows | PBDC VPC | -$9M- | +$3M-$2M | +$65M-$9M | +$80M-$15M | +$293M+$11M | -+$28M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBDC VPC | +17.66%+13.82% | +18.67%+14.02% | +16.88%+12.68% | n/a+13.20% |
| Max drawdown | PBDC VPC | -9.61%-9.22% | -15.60%-17.87% | -20.22%-24.65% | n/a-24.65% |
| Max drawdown duration | PBDC VPC | 64d64d | 274d274d | 604d604d | n/a604d |
Trading data
PBDC | VPC | |
Last sale 10/16/2026 at 1:30 PM | $25.20 | $14.27 |
| Previous close 10/15/2026 | $25.70 | $14.47 |
| 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 September 30, 2026
1-year trailing difference
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PBDC
is actively managed and doesn’t replicate an indexPBDC | VPC | |
|---|---|---|
| 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 | VPC | |
|---|---|---|
| Last price | $25.20 | $14.27 |
| 1D performance | -1.95% | -1.42% |
| AuM | $265.29 M | $27.12 M |
| E/R | 11.77% | 10.6% |
Characteristics
PBDC | VPC | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Putnam | VIRTUS Investment Partners |
| Benchmark | - | Indxx Private Credit Index |
| N° of holdings | 25 | 54 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 29, 2022 | February 7, 2019 |
| ESG | No | No |
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Exposure
Countries
PBDC
USA
100%
Other
-0%
VPC
USA
84.88%
Other
15.12%
Sectors
PBDC
Finance
99.83%
Other
0.17%
VPC
Finance
63.74%
Non-Corporate
21.14%
Other
15.12%
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Diversification
PBDC
Total weight of top 15 holdings out of 15
85.77%
VPC
Total weight of top 15 holdings out of 15
38.41%
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%
VPC
Eagle Point Credit Company Inc.
4.20%
Horizon Technology Finance Corp.
3.80%
Blackrock TCP Capital Corp.
3.36%
Prospect Capital Corp.
3.11%
XAI Floating Rate & Alternative Income Trust
2.93%
FS KKR Capital Corp.
2.85%
PennantPark Investment Corp.
2.55%
CION Investment Corp.
2.49%
Runway Growth Finance Corp.
2.48%
Goldman Sachs BDC, Inc.
2.13%
Oaktree Specialty Lending Corp.
1.92%
Stellus Capital Investment Corp.
1.69%
Carlyle Secured Lending, Inc
1.67%
Invesco Senior Income Trust
1.63%
New Mountain Finance Corp.
1.60%
Frequently asked questions about PBDC and VPC
How have the PBDC and VPC ETFs performed in 2026?
As of October 16, 2026, PBDC is down -10.58% year-to-date (YTD), while VPC has lost -12.99%. That puts PBDC better performer ahead so far this year.
Which ETF is attracting more investor money: PBDC or VPC?
Year-to-date, the PBDC ETF saw +$65M in flows, compared to -$9M for VPC.
Which ETF is more volatile: PBDC or VPC?
Over the past year, PBDC had a volatility of 18.67%, while VPC experienced 14.02%.
Which ETF is bigger: PBDC or VPC?
As of October 16, 2026, PBDC holds $265.29 M in assets under management (AUM), while VPC manages $27.12 M.
What sectors do the PBDC and VPC ETFs invest in?
PBDC leans toward sectors like Finance. Meanwhile, VPC focuses on Finance and Non-Corporate.
What are the top holdings of the PBDC ETF and VPC ETF?
PBDC top holdings include Blue Owl Technology Finance Corp, Blue Owl Capital Corp. and Ares Capital Corp.. VPC holds in its top three: Eagle Point Credit Company Inc., Horizon Technology Finance Corp. and Blackrock TCP Capital Corp..
Which ETF is more diversified: PBDC or VPC?
PBDC holds 25 securities with 85.77% of its assets in the top 15. VPC has 54 securities and a top 15 weight of 38.41%.
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Latest news about PBDC & VPC
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October 31, 2025
PBDC
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