IWV vs PBDC
iShares Russell 3000 ETF vs Putnam BDC Income ETF
Which is better, IWV or PBDC?
IWV has been ahead.
IWV has a lower expense ratio. IWV led over 1Y, 3Y and the full window. IWV is less concentrated, with 34.6% of the fund in its ten largest positions against 69.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IWV | PBDC |
|---|---|---|
| Expense Ratio | 0.20%Best | 11.77% |
| AUM | $20.7B | $269M |
| Dividend Yield | 0.88% | 11.33% |
| Holdings | 5,163 | 28 |
| YTD Return | +12.89%Best | -13.78% |
| 1Y Return | +16.39%Best | -10.37% |
| 3Y Return (annualized) | +21.75%Best | +2.54% |
| 5Y Return (annualized) | +11.91% | - |
| Volatility (annualized) | 13.4%Best | 15.2% |
| Max Drawdown | -19.3%Best | -20.5% |
| $10,000 over 4 years | $21,864Best | $14,662 |
| Top 10 Weight | 34.6%Best | 69.8% |
| Fund Family | iShares by BlackRock (US) | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 22, 2000 | Sep 29, 2022 |
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Sep 30, 2022 to Oct 14, 2026 (4 years).
IWV vs PBDC growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4 years both funds cover.
IWV vs PBDC Performance
iShares Russell 3000 ETF (IWV) is an ETF from iShares by BlackRock (US) and Putnam BDC Income ETF (PBDC) is an ETF from Putnam Investments. Over the past year IWV returned +16.39% while PBDC returned -10.37%. Year to date, IWV is up 12.89% versus a loss of 13.78% for PBDC.
Over three years, IWV compounded at +21.75% per year against +2.54% for PBDC. Across the full 4-year window we track, IWV has the edge at +21.60% annualized vs +10.04%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBDC has been the more volatile fund, with annualized monthly volatility of 15.2% compared with 13.4% for IWV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -19.3% for IWV and -20.5% for PBDC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.50. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IWV charges 0.20% per year while PBDC charges 11.77%. On a $10,000 position that is $20 vs $1177 annually, a gap of $1157 per year that compounds over a long holding period. On income, IWV currently yields 0.88% against 11.33% for PBDC.
Holdings Overlap
We hold position weights for 2,586 holdings in IWV and 27 in PBDC, totalling 97.3% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 2,586 positions we hold weights for in IWV and 27 in PBDC, against full books of 5,163 and 28.
What only one of them owns
Measured across the 2,586 and 27 positions we hold weights for.
IWV holds 1,130 positions PBDC does not, 96.3% of the fund.
Largest: NVDA 7.33%, AAPL 6.50%, MSFT 5.18%, AMZN 3.28%, GOOGL 2.68%
You are not choosing between two funds in isolation.
Whichever of IWV and PBDC you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IWV or PBDC?
IWV has an expense ratio of 0.20% while PBDC charges 11.77%. IWV is the cheaper option, by $1157 a year on a $10,000 investment.
Which performed better, IWV or PBDC?
Over the past year IWV returned +16.39% vs -10.37% for PBDC, so IWV leads on 1-year performance. Over the longest common window we track (4 years), IWV annualized +21.60% vs +10.04% for PBDC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IWV or PBDC?
PBDC has been the more volatile fund at 15.2% annualized versus 13.4% for IWV. Worst drawdown: IWV -19.3% vs PBDC -20.5%.
Should I hold both IWV and PBDC?
IWV and PBDC have a monthly-return correlation of 0.50, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IWV or PBDC?
IWV yields 0.88% while PBDC yields 11.33%, so PBDC currently pays the higher dividend yield.
Is PBDC better than IWV?
IWV has a lower expense ratio. IWV led over 1Y, 3Y and the full window. IWV is less concentrated, with 34.6% of the fund in its ten largest positions against 69.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.