Putnam BDC Income ETF (PBDC) is a financial sector ETF. As of October 28, 2026, ETF Copilot scores PBDC 3.3 out of 10 — highest on Growth (7.5), lowest on Quality (0.1). It trades at 11.6 times earnings, against its own median of 9.4. Its ten largest holdings are 71% of the fund.
What stands out in PBDC's data
U.S. Business Development Companies, a niche slice of private credit.
Priced below the typical financials fund — you pay less for each dollar of earnings.
Trailing P/E multiple of 11.6x sits below the category median of 12.8x. Holdings number just 27, and return on equity of 7.9% trails the category norm of 17.4%.
A focused income sleeve built on a small set of private-credit lenders.
Why did PBDC move this week? It rose 3.4% in the week to October 28, 2026 — Midcap Financial Investment and Trinity Capital drove it
PBDC rose 3.4% in the week to October 28, 2026. The holdings that moved it most were Midcap Financial Investment (+25.2%), Trinity Capital (+5.6%) and Blue OWL Capital (+2.6%); Suro Capital (+0.0%) pushed the other way.
How is PBDC rated? ETF Copilot scores Putnam BDC Income ETF (PBDC) 3.3 out of 10
As of October 28, 2026, ETF Copilot scores Putnam BDC Income ETF (PBDC) 3.3 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 3.3 / 10
- Growth: 7.5 / 10
- Value: 0.8 / 10
- Risk: 6.6 / 10
- Quality: 0.1 / 10
- Return: 0.5 / 10
Is PBDC expensive right now? It trades at 11.6 times earnings, against its own median of 9.4
As of October 28, 2026, PBDC is more expensive than 88% of its own last 3 years.
Trailing 12 months, built from PBDC's holdings. How we calculate this →
What's inside PBDC?
What's inside PBDC: Size (Large 0%, Mid 21%, Small 79%); Geography (International 0%, US 100%).
What are PBDC's top holdings? The ten largest are 71% of the fund
Ares Capital, OWL Rock Capital, Blue OWL Technology Finan, Main Street Capital, Hercules Capital, Golub Capital BDC, Trinity Capital, Blackstone Secured Lendin, TPG Specialty Lending and Capital Southwest are PBDC's largest holdings, in that order.
More concentrated than 89% of Financials ETFs.
Half of PBDC's weight sits in its 6 largest positions, and once those weights are taken into account it behaves like 16 equally weighted holdings.
What is PBDC's expense ratio? 11.77% a year
As of October 28, 2026, PBDC charges 11.77% a year, yields 11.57% and holds $269M in assets across 27 positions.
| Measure | PBDC |
|---|---|
| Expense ratio | 11.77% |
| Dividend yield | 11.57% |
| Assets under management | $269M |
| Holdings | 27 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Cite this
ETF Copilot, “Putnam BDC Income ETF (PBDC) scores and holdings analysis”, as of October 28, 2026.
https://etf-copilot.com/etf/pbdc
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