PBDC ETF — Putnam BDC Income ETF
Putnam BDC Income ETF (PBDC)
PBDC is an ETF that tracks the Business Development Companies. As of August 19, 2026, its distribution rate is 9.97%, its trailing-12-month yield is 10.95%, its expense ratio is 13.49%. Dividend Vision Distribution Safety Score™ is 84/100 (Safe). Fund total return is 63.1% over the past 3.9 years, 62.6 points behind SPY at 125.7%.
At the current 9.97% distribution rate, a $10,000 investment would generate approximately $997 per year, or $83.08 per month on an equivalent basis. Actual quarterly payments vary.
PBDC dividend yield and income
Data as of August 19, 2026.
The distribution rate (9.97%) is the latest posted forward yield, paid quarterly. Trailing-12-month yield (10.95%) is the last year of payments divided by the current price. The last dividend was $0.6960. The last ex-dividend date was 07/07/2026. It was paid on 07/14/2026. At 9.97%, $10,000 would generate about $997 a year ($83.08 monthly-equivalent).
| Ex-date | Amount | vs year-ago payment |
|---|---|---|
| 2026-07-07 | $0.696 | -11.6% |
| 2026-04-07 | $0.713 | -9.9% |
| 2025-12-19 | $0.825 | 4.4% |
| 2025-10-06 | $0.821 | -4.2% |
| 2025-07-07 | $0.787 | 0.1% |
| 2025-04-04 | $0.791 | 3.4% |
| 2024-12-27 | $0.79 | -7.4% |
| 2024-10-04 | $0.857 | 9.2% |
| 2024-07-05 | $0.786 | 4.0% |
| 2024-04-04 | $0.765 | 4.9% |
| 2023-12-26 | $0.853 | -6.9% |
| 2023-10-05 | $0.785 | — |
| 2023-07-07 | $0.756 | — |
| 2023-04-06 | $0.729 | — |
| 2022-12-27 | $0.916 | — |
| 2022 total | $0.916 | — |
| 2023 total | $3.123 | 240.9% |
| 2024 total | $3.198 | 2.4% |
| 2025 total | $3.224 | 0.8% |
| 2026 YTD total | $1.409 | -10.7% |
PBDC dividend growth
Trailing-12-month distributions versus the preceding 12 months changed -8.05%. That is the seasonality-immune income comparison, not a single quarterly check versus the prior quarter. An annualized trend fit on recent payments is -23.43%. That fit can move with uneven quarterly amounts and is not the same as a trailing-12-month cut.
| Window | Change |
|---|---|
| 1Y | 57.6% |
| 3Y | 294.4% |
PBDC performance versus SPY
Data as of August 19, 2026.
Fund total return is 63.1% over the past 3.9 years, 62.6 points behind SPY at 125.7%. Its deepest 1-year drawdown was 17.7%.
| Window | Total return | CAGR |
|---|---|---|
| Since inception (3.9 years) | 63.1% | 13.40% |
| 3Y CAGR | — | 7.10% |
PBDC key facts
Data as of August 19, 2026.
- Distribution Safety Score™
- 84 · Safe
- Safety-Adjusted Yield
- 8.37%
- Issuer
- Putnam
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 02/16/2023
- Expense ratio
- 13.49%
- Distribution rate
- 9.97%
- Distribution frequency
- Quarterly
- Trailing yield
- 10.95%
- Last close
- $27.91
- AUM
- $314,664,514
- Average volume
- 267931.0
- Last dividend
- $0.6960
- Ex-dividend date
- 07/07/2026
- Payment date
- 07/14/2026
- Beta
- 0.68
- P/E ratio
- 10.9878
How Dividend Vision calculates yield and returns
Distribution rate (9.97%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (10.95%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.
Distribution rate methodology · Distribution Safety Score methodology · SEC yield
Sources and review
Data as of August 19, 2026.
Primary sources: Putnam fund page; Index: Business Development Companies; prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
PBDC risks and drawbacks
Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 17.7%.
Who may consider PBDC — and who may not
PBDC may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (PBDC pays quarterly); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
Compare PBDC
PBDC vs similar funds:
Frequently asked questions
Does PBDC pay monthly?
No. PBDC currently pays quarterly, not monthly.
What index does PBDC track?
PBDC tracks the Business Development Companies.
What is PBDC's expense ratio?
PBDC's expense ratio is 13.49%.
What is PBDC's dividend yield?
PBDC currently yields 9.97%, paid quarterly, with a 13.49% expense ratio.
How has PBDC's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed -8.05%. That is not a single quarter versus the prior quarter.
When does PBDC pay a dividend?
PBDC pays quarterly. The last dividend was $0.6960. The last ex-dividend date was 07/07/2026. It was paid on 07/14/2026.
How has PBDC performed?
Fund total return is 63.1% over the past 3.9 years, 62.6 points behind SPY at 125.7%. Its deepest 1-year drawdown was 17.7%.
Is PBDC a good investment?
PBDC's Dividend Vision Distribution Safety Score is 84 (Safe). That is a risk signal, not investment advice. It currently yields 9.97%. Compare peers below rather than treating any single figure as a buy or sell.
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