DCOR vs PBDC
Dimensional US Core Equity 1 ETF vs Putnam BDC Income ETF
Which is better, DCOR or PBDC?
DCOR has been ahead.
DCOR has a lower expense ratio. DCOR led over 1Y, 3Y and the full window. DCOR is less concentrated, with 28.5% of the fund in its ten largest positions against 71.7%.
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 | DCOR | PBDC |
|---|---|---|
| Expense Ratio | 0.14%Best | 11.77% |
| AUM | $43.9B | $279M |
| Dividend Yield | 0.90% | 11.41% |
| Holdings | 3,172 | 54 |
| YTD Return | +14.41%Best | -6.30% |
| 1Y Return | +15.95%Best | -2.81% |
| 3Y Return (annualized) | +21.37%Best | +5.15% |
| Volatility (annualized) | 12.2%Best | 14.0% |
| Max Drawdown | -19.1%Best | -20.5% |
| $10,000 over 3.2 years | $17,537Best | $11,833 |
| Top 10 Weight | 28.5%Best | 71.7% |
| Fund Family | Dimensional | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 15, 2005 | Sep 29, 2022 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 3.2 years row, are measured over the window both funds cover: Sep 13, 2023 to Nov 11, 2026 (3.2 years).
DCOR 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 3.2 years both funds cover.
DCOR vs PBDC Performance
Dimensional US Core Equity 1 ETF (DCOR) is an ETF from Dimensional and Putnam BDC Income ETF (PBDC) is an ETF from Putnam Investments. Over the past year DCOR returned +15.95% while PBDC returned -2.81%. Year to date, DCOR is up 14.41% versus a loss of 6.30% for PBDC.
Over three years, DCOR compounded at +21.37% per year against +5.15% for PBDC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBDC has been the more volatile fund, with annualized monthly volatility of 14.0% compared with 12.2% for DCOR. 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 -19.1% for DCOR 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 0.45. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DCOR charges 0.14% per year while PBDC charges 11.77%. On a $10,000 position that is $14 vs $1177 annually, a gap of $1163 per year that compounds over a long holding period. On income, DCOR currently yields 0.90% against 11.41% for PBDC.
Holdings Overlap
1.6% of PBDC's money is in holdings DCOR also owns.
PBDC and DCOR share little of their money.
1 positions in common, counted across the 2,521 positions we hold weights for in DCOR and 26 in PBDC, against full books of 3,172 and 54.
What only one of them owns
Our book lists 25 positions for PBDC that do not appear in our book for DCOR (98.4% of the fund), and 1,284 for DCOR that do not appear in PBDC (97.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in DCOR | Weight in PBDC | Difference |
|---|---|---|---|
| RWAYRunway Growth Finance Corp | 0.00% | 1.60% | 1.60% |
You are not choosing between two funds in isolation.
Whichever of DCOR 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, DCOR or PBDC?
DCOR has an expense ratio of 0.14% while PBDC charges 11.77%. DCOR is the cheaper option, by $1163 a year on a $10,000 investment.
Which performed better, DCOR or PBDC?
Over the past year DCOR returned +15.95% vs -2.81% for PBDC, so DCOR leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DCOR or PBDC?
PBDC has been the more volatile fund at 14.0% annualized versus 12.2% for DCOR. Worst drawdown: DCOR -19.1% vs PBDC -20.5%.
Should I hold both DCOR and PBDC?
DCOR and PBDC have a monthly-return correlation of 0.45, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DCOR and PBDC?
1.6% of PBDC's money is in holdings DCOR also owns. 1.6% of PBDC's is in holdings DCOR also owns. They hold 1 positions in common, counted across the 2,521 positions we hold weights for in DCOR and 26 in PBDC.
Which pays a higher dividend, DCOR or PBDC?
DCOR yields 0.90% while PBDC yields 11.41%, so PBDC currently pays the higher dividend yield.
Is PBDC better than DCOR?
DCOR has a lower expense ratio. DCOR led over 1Y, 3Y and the full window. DCOR is less concentrated, with 28.5% of the fund in its ten largest positions against 71.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.