PBDC - ETF AI Analysis
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Putnam BDC Income ETF (PBDC)
Rating:65Neutral
Price Target:―
Positive Factors
Focused Income Strategy
The fund concentrates on business development companies (BDCs), which are designed to generate income from lending to smaller and mid-sized businesses.
Meaningful Fund Size
With a sizable asset base, the ETF appears established enough to offer reasonable trading liquidity for everyday investors.
Short-Term Performance Uptick
The ETF has shown a recent one-month gain, suggesting some short-term recovery despite weaker results over longer periods.
Negative Factors
Extremely High Expense Ratio
The fund’s very high annual fee significantly reduces the income and returns that investors keep.
Weak Recent Performance
Year-to-date and three-month returns have been negative, indicating the ETF has recently struggled.
Concentrated Financial and U.S. Exposure
Heavy weighting in U.S. financial companies, especially a few large BDCs, increases risk if this sector or the U.S. market faces a downturn.
PBDC vs. SPDR S&P 500 ETF (SPY)
AUM279.11M
RegionNorth America
Expense Ratio13.49%
Beta0.63
IssuerPutnam
Inception DateSep 29, 2022
Dividend Yield11.57%
Asset ClassEquity
Index TrackedNo Underlying Index
Share Statistics
EPS (TTM)N/A
Shares OutstandingN/A
10 Day Avg. Volume120,637
30 Day Avg. Volume134,091
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
29.72Price Target Upside― Downside
Rating ConsensusModerate Buy
Number of Analyst Covering23
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
PBDC Summary
Putnam BDC Income ETF (PBDC) is an exchange-traded fund that focuses on U.S. financial companies called Business Development Companies (BDCs), which lend money and provide support to smaller and mid-sized businesses. It does not track a traditional index, but instead follows a theme of income-focused BDCs, including well-known names like Ares Capital and Hercules Capital. Investors might consider PBDC if they want regular income from dividends and exposure to a range of BDCs in one fund. A key risk is that it is heavily concentrated in financial companies, so its price and income can rise or fall with that sector and the broader economy.
How much will it cost me?The Putnam BDC Income ETF (PBDC) has an expense ratio of 13.49%, which means you’ll pay $134.90 per year for every $1,000 invested. This is significantly higher than average because it is actively managed and focuses on a specialized niche in the financial sector, requiring more expertise and resources. While the cost is high, it reflects the fund's targeted approach and professional management.
What would affect this ETF?The Putnam BDC Income ETF (PBDC) could benefit from economic growth in the U.S., as Business Development Companies (BDCs) thrive when small and mid-sized businesses expand and seek capital. However, rising interest rates or tighter credit conditions could negatively impact BDCs by increasing borrowing costs and reducing demand for loans, potentially affecting the fund's income generation. Additionally, regulatory changes in the financial sector could influence the operations of top holdings like Ares Capital and Blue Owl Capital.
PBDC Top 10 Holdings
PBDC is essentially a pure play on U.S. business development companies, with performance driven by a tight cluster of big financial names rather than broad diversification. Ares Capital and Blue Owl Capital are heavyweights, but both have been losing steam this year, acting as a headwind. Golub Capital and Sixth Street Specialty Lending are also lagging, adding to the drag. On the brighter side, Trinity Capital has been one of the few bright spots, rising recently and helping to cushion the blows in this income-focused, BDC-heavy portfolio.
Name | Company Name | Weight % | Market Value | Market Cap | Yearly Gain | Overall Rating |
|---|---|---|---|---|---|---|
| Blue Owl Capital | 10.81% | $30.10M | $5.42B | -26.54% | 69 Neutral | |
| Ares Capital | 10.57% | $29.41M | $13.61B | -18.25% | 80 Outperform | |
| Blue Owl Technology Finance Corp. | 10.11% | $28.15M | $4.66B | -36.05% | ― | |
| Hercules Capital, Inc. | 8.06% | $22.43M | $3.02B | -16.25% | 79 Outperform | |
| Golub Capital Bdc | 7.56% | $21.05M | $3.39B | -15.24% | 71 Outperform | |
| Main Street Capital | 6.60% | $18.37M | $5.04B | -15.74% | 75 Outperform | |
| Trinity Capital | 4.85% | $13.50M | $1.61B | 20.09% | 76 Outperform | |
| Blackstone Secured Lending Fund | 4.33% | $12.05M | $5.45B | -27.31% | 74 Outperform | |
| Sixth Street Specialty Lending | 4.25% | $11.83M | $1.63B | -29.82% | 75 Outperform | |
| Barings BDC | 4.16% | $11.58M | $883.73M | -11.62% | 76 Outperform |
PBDC Technical Analysis
Negative
―
Price Trends
26.46
Negative
26.46
Negative
27.40
Negative
Market Momentum
0.09
Negative
47.47
Neutral
30.96
Neutral
Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For PBDC, the sentiment is Negative. The current price of undefined is equal to the 20-day moving average (MA) of 26.50, equal to the 50-day MA of 26.46, and equal to the 200-day MA of 27.40, indicating a bearish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 47.47 is Neutral, neither overbought nor oversold. The STOCH value of 30.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PBDC.
PBDC Peer Comparison
Comparison Results
Performance Comparison
PBDC
Putnam BDC Income ETF
26.40
-4.83
-15.47%
GTOP
Goldman Sachs Technology Opportunities ETF
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―
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IETC
iShares Evolved US Technology ETF
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FEPI
REX FANG & Innovation Equity Premium Income ETF
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―
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JPRE
JPMorgan Realty Income ETF
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AIPI
REX AI Equity Premium Income ETF
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Glossary
BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
DisclaimerThis AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―
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