PBDC - ETF AI Analysis
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Putnam BDC Income ETF (PBDC)
Rating:64Neutral
Price Target:―
Positive Factors
Strong Year-to-Date Performance
The ETF has delivered a modestly positive return so far this year, showing generally steady performance.
Several Strong Top Holdings
Key positions like Main Street Capital, Ares Capital, Trinity Capital, and others have shown strong or steady gains, helping support the fund’s results.
Focused Exposure to U.S. Financials
The fund is heavily invested in U.S.-based business development companies, giving targeted exposure to a specific income-oriented corner of the financial sector.
Negative Factors
Very High Expense Ratio
The fund’s costs are extremely high, which can significantly eat into investor returns over time.
Heavy Concentration in a Single Sector
With most assets in financial companies and a few large positions, the ETF is vulnerable if business development companies or the broader financial sector struggle.
Mixed Performance Among Top Holdings
Some major holdings, such as Blue Owl Technology Finance, FS KKR Capital, and Hercules Capital, have shown weak or negative performance, which can drag on the fund’s overall returns.
PBDC vs. SPDR S&P 500 ETF (SPY)
AUM247.52M
RegionNorth America
Expense Ratio13.49%
Beta0.60
IssuerPutnam
Inception DateSep 29, 2022
Dividend Yield11.75%
Asset ClassEquity
Index TrackedNo Underlying Index
Share Statistics
EPS (TTM)N/A
Shares OutstandingN/A
10 Day Avg. Volume118,044
30 Day Avg. Volume127,417
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
31.64Price Target Upside― Downside
Rating ConsensusModerate Buy
Number of Analyst Covering24
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
PBDC Summary
Putnam BDC Income ETF (PBDC) is a fund that invests mainly in U.S. Business Development Companies (BDCs), which lend money and provide support to small and mid-sized businesses. It doesn’t track a traditional index, but focuses on the financial sector, especially income-producing BDCs. Well-known names inside the fund include Ares Capital and Main Street Capital. Someone might consider this ETF if they want higher income potential through dividends and a way to tap into the growth of smaller companies. A key risk is that it is heavily concentrated in financial BDCs, so its price and income can swing with that niche of the market.
How much will it cost me?The Putnam BDC Income ETF (PBDC) has an expense ratio of 13.49%, which means you’ll pay $134.90 per year for every $1,000 invested. This is significantly higher than average because it is actively managed and focuses on a specialized niche in the financial sector, requiring more expertise and resources. While the cost is high, it reflects the fund's targeted approach and professional management.
What would affect this ETF?The Putnam BDC Income ETF (PBDC) could benefit from economic growth in the U.S., as Business Development Companies (BDCs) thrive when small and mid-sized businesses expand and seek capital. However, rising interest rates or tighter credit conditions could negatively impact BDCs by increasing borrowing costs and reducing demand for loans, potentially affecting the fund's income generation. Additionally, regulatory changes in the financial sector could influence the operations of top holdings like Ares Capital and Blue Owl Capital.
PBDC Top 10 Holdings
PBDC is tightly packed with U.S. business development companies, so a handful of names really steer the ship. Ares Capital and Blue Owl Technology Finance sit in the driver’s seat, but both have seen mixed to lagging momentum lately, keeping a lid on returns. Main Street Capital and Blue Owl Capital are also losing a bit of steam, adding to the drag. Hercules Capital has been particularly weak, acting like an anchor on performance. With such a concentrated financials and BDC focus, the fund’s fortunes are closely tied to this small group of credit-focused lenders.
Name | Company Name | Weight % | Market Value | Market Cap | Yearly Gain | Overall Rating |
|---|---|---|---|---|---|---|
| Ares Capital | 11.82% | $29.82M | $12.99B | -9.14% | 80 Outperform | |
| Blue Owl Technology Finance Corp. | 11.11% | $28.03M | $5.28B | ― | ― | |
| Blue Owl Capital | 8.03% | $20.27M | $5.43B | -18.15% | 69 Neutral | |
| Main Street Capital | 6.81% | $17.18M | $4.78B | 2.43% | 75 Outperform | |
| Hercules Capital, Inc. | 6.79% | $17.13M | $2.75B | -11.17% | 79 Outperform | |
| Golub Capital Bdc | 5.83% | $14.71M | $3.35B | -7.09% | 71 Outperform | |
| FS KKR Capital | 5.28% | $13.32M | $2.84B | -45.89% | 58 Neutral | |
| Blackstone Secured Lending Fund | 5.04% | $12.72M | $5.37B | -16.62% | 74 Outperform | |
| Sixth Street Specialty Lending | 4.52% | $11.40M | $1.72B | -8.70% | 75 Outperform | |
| Trinity Capital | 4.48% | $11.30M | $1.26B | 11.50% | 76 Outperform |
PBDC Technical Analysis
Neutral
―
Price Trends
27.15
Negative
28.41
Negative
29.34
Negative
Market Momentum
-0.09
Negative
49.74
Neutral
19.57
Positive
Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For PBDC, the sentiment is Neutral. The current price of undefined is equal to the 20-day moving average (MA) of 26.59, equal to the 50-day MA of 27.15, and equal to the 200-day MA of 29.34, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 49.74 is Neutral, neither overbought nor oversold. The STOCH value of 19.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for PBDC.
PBDC Peer Comparison
Comparison Results
Performance Comparison
PBDC
Putnam BDC Income ETF
26.77
-0.62
-2.26%
IETC
iShares Evolved US Technology ETF
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GTOP
Goldman Sachs Technology Opportunities ETF
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FEPI
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SAMT
Strategas Macro Thematic Opportunities ETF
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JPRE
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Glossary
BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
DisclaimerThis AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―
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