IVV vs PBDC
iShares Core S&P 500 ETF vs Putnam BDC Income ETF
Which is better, IVV or PBDC?
IVV has been ahead.
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 71.6%.
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 | IVV | PBDC |
|---|---|---|
| Expense Ratio | 0.03%Best | 13.49% |
| AUM | $886.7B | $314M |
| Dividend Yield | 1.10% | 11.60% |
| Holdings | 508 | 28 |
| YTD Return | +13.39%Best | -3.44% |
| 1Y Return | +20.08%Best | -7.60% |
| 3Y Return (annualized) | +21.29%Best | +7.21% |
| 5Y Return (annualized) | +12.88% | - |
| Volatility (annualized) | 13.2%Best | 14.5% |
| Max Drawdown | -18.8%Best | -20.5% |
| $10,000 over 3.9 years | $22,591Best | $16,420 |
| Top 10 Weight | 37.9%Best | 71.6% |
| Fund Family | iShares by BlackRock (US) | Putnam Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Sep 29, 2022 |
Volatility and max drawdown, and the $10,000 over 3.9 years row, are measured over the window both funds cover: Sep 30, 2022 to Sep 4, 2026 (3.9 years).
IVV 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 3.9 years both funds cover.
IVV vs PBDC Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Putnam BDC Income ETF (PBDC) is an ETF from Putnam Investments. Over the past year IVV returned +20.08% while PBDC returned -7.60%. Year to date, IVV is up 13.39% versus a loss of 3.44% for PBDC.
Over three years, IVV compounded at +21.29% per year against +7.21% for PBDC. Across the full 4-year window we track, IVV has the edge at +23.24% annualized vs +13.56%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBDC has been the more volatile fund, with annualized monthly volatility of 14.5% compared with 13.2% for IVV. 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 -18.8% for IVV 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 0.49. They move together some of the time, and apart the rest.
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
We hold position weights for 505 holdings in IVV and 23 in PBDC, totalling 100.0% 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 505 positions we hold weights for in IVV and 23 in PBDC, against full books of 508 and 28.
What only one of them owns
Our book lists 23 positions for PBDC that do not appear in our book for IVV (100.0% of the fund), and 497 for IVV that do not appear in PBDC (99.3%).
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.
You are not choosing between two funds in isolation.
Whichever of IVV 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, IVV or PBDC?
IVV has an expense ratio of 0.03% while PBDC charges 13.49%. IVV is the cheaper option, by $1346 a year on a $10,000 investment.
Which performed better, IVV or PBDC?
Over the past year IVV returned +20.08% vs -7.60% for PBDC, so IVV leads on 1-year performance. Over the longest common window we track (4 years), IVV annualized +23.24% vs +13.56% for PBDC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PBDC?
PBDC has been the more volatile fund at 14.5% annualized versus 13.2% for IVV. Worst drawdown: IVV -18.8% vs PBDC -20.5%.
Should I hold both IVV and PBDC?
IVV and PBDC have a monthly-return correlation of 0.49, 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, IVV or PBDC?
IVV yields 1.10% while PBDC yields 11.60%, so PBDC currently pays the higher dividend yield.
Is PBDC better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 71.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.