IVV vs PBDC
iShares Core S&P 500 ETF vs Putnam BDC Income ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | PBDC | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 13.49% | |
| AUM | $907.0B | $314M | |
| Dividend Yield | 1.10% | 11.60% | |
| Holdings | 508 | 28 | |
| YTD Return | +14.29% | -3.00% | |
| 1Y Return | +21.79% | -6.68% | |
| 3Y Return (annualized) | +22.19% | +7.49% | |
| 5Y Return (annualized) | +13.28% | - | |
| Volatility (annualized) | 15.1% | 14.4% | |
| Max Drawdown | -56.5% | -20.5% | |
| Fund Family | iShares by BlackRock (US) | Putnam Investments | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Sep 29, 2022 |
IVV vs PBDC Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Putnam BDC Income ETF (PBDC) is a ETF from Putnam Investments. Over the past year IVV returned +21.79% while PBDC returned -6.68%. Year to date, IVV is up 14.29% versus a loss of 3.00% for PBDC.
Over three years, IVV compounded at +22.19% per year against +7.49% for PBDC. Across the full 4-year window we track, PBDC has the edge at +13.91% annualized vs +7.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.4% for PBDC. 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 -56.5% for IVV and -20.5% for PBDC. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.50. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PBDC charges 13.49%. On a $10,000 position that is $3 vs $1349 annually, a gap of $1346 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 11.60% for PBDC.
Holdings Overlap
IVV and PBDC share 0 holdings out of 528 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PBDC?
IVV has an expense ratio of 0.03% while PBDC charges 13.49%. IVV is the cheaper option. On a $10,000 investment, that is $1346 per year of difference.
Which performed better, IVV or PBDC?
Over the past year IVV returned +21.79% vs -6.68% for PBDC, so IVV leads on 1-year performance. Over the longest common window we track (4 years), IVV annualized +7.06% vs +13.91% for PBDC. Past performance does not guarantee future results.
Which is riskier, IVV or PBDC?
IVV has been the more volatile fund at 15.1% annualized versus 14.4% for PBDC. Worst drawdown: IVV -56.5% vs PBDC -20.5%.
Should I hold both IVV and PBDC?
IVV and PBDC have a monthly-return correlation of 0.50, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PBDC?
IVV and PBDC share 0 common holdings with a 0.0% weight overlap. Combined, they hold 528 unique securities.
Which pays a higher dividend, IVV or PBDC?
IVV yields 1.10% while PBDC yields 11.60%, so PBDC currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.