PBDC vs YLDE
Putnam BDC Income ETF vs Franklin ClearBridge Enhanced Income ETF
Which is better, PBDC or YLDE?
YLDE has been ahead.
YLDE has a lower expense ratio. YLDE led over 1Y, 3Y and the full window. YLDE is less concentrated, with 32.6% 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 | PBDC | YLDE |
|---|---|---|
| Expense Ratio | 11.77% | 0.48%Best |
| AUM | $269M | $173M |
| Dividend Yield | 11.33% | 7.02% |
| Holdings | 28 | 110 |
| YTD Return | -13.78% | +8.88%Best |
| 1Y Return | -10.37% | +11.41%Best |
| 3Y Return (annualized) | +2.54% | +16.86%Best |
| 5Y Return (annualized) | - | +10.66% |
| Volatility (annualized) | 15.2% | 11.8%Best |
| Max Drawdown | -20.5% | -11.2%Best |
| $10,000 over 4 years | $14,662 | $19,185Best |
| Top 10 Weight | 69.8% | 32.6%Best |
| Fund Family | Putnam Investments | Franklin Templeton Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 29, 2022 | May 22, 2017 |
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).
PBDC vs YLDE 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.
PBDC vs YLDE Performance
Putnam BDC Income ETF (PBDC) is an ETF from Putnam Investments and Franklin ClearBridge Enhanced Income ETF (YLDE) is an ETF from Franklin Templeton Investments (US). Over the past year PBDC returned -10.37% while YLDE returned +11.41%. Year to date, PBDC is down 13.78% versus a gain of 8.88% for YLDE.
Over three years, PBDC compounded at +2.54% per year against +16.86% for YLDE. Across the full 4-year window we track, YLDE has the edge at +17.69% 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 11.8% for YLDE. 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 -20.5% for PBDC and -11.2% for YLDE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.39. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PBDC charges 11.77% per year while YLDE charges 0.48%. On a $10,000 position that is $1177 vs $48 annually, a gap of $1129 per year that compounds over a long holding period. On income, PBDC currently yields 11.33% against 7.02% for YLDE.
Holdings Overlap
We hold position weights for 27 holdings in PBDC and 48 in YLDE, totalling 100.0% and 100.5% 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 27 positions we hold weights for in PBDC and 48 in YLDE, against full books of 28 and 110.
What only one of them owns
Measured across the 27 and 48 positions we hold weights for.
YLDE holds 44 positions PBDC does not, 92.3% of the fund.
Largest: XOM 4.52%, WMB 4.32%, MSFT 3.67%, NVDA 3.50%, GOOGL 3.41%
You are not choosing between two funds in isolation.
Whichever of PBDC and YLDE 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, PBDC or YLDE?
PBDC has an expense ratio of 11.77% while YLDE charges 0.48%. YLDE is the cheaper option, by $1129 a year on a $10,000 investment.
Which performed better, PBDC or YLDE?
Over the past year PBDC returned -10.37% vs +11.41% for YLDE, so YLDE leads on 1-year performance. Over the longest common window we track (4 years), PBDC annualized +10.04% vs +17.69% for YLDE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBDC or YLDE?
PBDC has been the more volatile fund at 15.2% annualized versus 11.8% for YLDE. Worst drawdown: PBDC -20.5% vs YLDE -11.2%.
Should I hold both PBDC and YLDE?
PBDC and YLDE have a monthly-return correlation of 0.39, 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, PBDC or YLDE?
PBDC yields 11.33% while YLDE yields 7.02%, so PBDC currently pays the higher dividend yield.
Is YLDE better than PBDC?
YLDE has a lower expense ratio. YLDE led over 1Y, 3Y and the full window. YLDE is less concentrated, with 32.6% 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.