ETF Comparison
ARCC vs BXSL: Which Is the Better Pick in 2026?
A head-to-head comparison of Ares Capital Corporation and Blackstone Secured Lending Fund covering yield, cost, risk, and income potential.
Data updated May 20, 2026
Side-by-side snapshot
| ARCC | BXSL | |
|---|---|---|
| Full name | Ares Capital Corporation | Blackstone Secured Lending Fund |
| Issuer | — | — |
| Last Close | $18.72 as of May 20, 2026 | $23.67 as of May 20, 2026 |
| Distribution yield | 10.26% | 13.01% |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | — | — |
| Underlying index | — | — |
| Objective | — | — |
| Asset class | Equity | Equity |
| Inception date | — | — |
| Last dividend | $0.48 | $0.77 |
| Ex-dividend date | 03/13/2026 | 03/31/2026 |
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Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
ARCC (Ares Capital Corporation) and BXSL (Blackstone Secured Lending Fund) are both dividend ETFs, but they take different approaches.
BXSL offers the higher yield at 13.01% vs 10.26% for ARCC. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
Deep dive
Yield & income
On a $10,000 investment, ARCC would generate roughly $85.50/month, while BXSL would produce $108.42/month, at current distribution rates.
Cost & efficiency
Over 10 years on $10,000, ARCC would cost approximately $0 in fees vs $0 for BXSL (simplified, not compounded). Both charge the same expense ratio.
Strategy & risk
ARCC tracks — with a bdc approach, while BXSL tracks — using a bdc strategy.
Fund details
ARCC is managed by — (launched —) with — in assets. BXSL is managed by — (launched —) with — in assets.
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Frequently asked questions
Is ARCC or BXSL better for dividend income?
It depends on your goals. BXSL currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between ARCC and BXSL?
ARCC (Ares Capital Corporation) tracks — with a bdc strategy, while BXSL (Blackstone Secured Lending Fund) tracks — with a bdc approach. They are issued by — and — respectively.
Can I hold both ARCC and BXSL?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, ARCC or BXSL?
ARCC has an expense ratio of — while BXSL charges —. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in ARCC vs BXSL generate?
At current rates, $10,000 in ARCC would generate roughly $85.50 per month ($1,026.00 annually). The same in BXSL would produce about $108.42 per month ($1,301.00 annually).
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ARCC vs BXSL — at a glance
Generated April 2026 from current fund data.
Overview
Both ARCC and BXSL are business development companies that generate returns by lending to middle-market companies, but they approach the capital structure differently. ARCC is a larger, diversified direct lender with a 10.12% distribution rate, while BXSL, managed by Blackstone, focuses on secured first-lien loans and sports a 12.43% yield. The yield gap reflects both risk appetite and underlying loan quality.
How they differ
BXSL targets the higher end of the yield spectrum—12.43% versus ARCC's 10.12%—chiefly because it specializes in secured first-lien positions in the middle market, which carry tighter credit spreads but less subordination risk than unsecured or second-lien exposure. ARCC, larger and more established with a $18.97 share price against BXSL's $24.77, runs a broader portfolio of direct loans and equity investments, offering more diversification but potentially lower yield. The 52-week price volatility tells a story too: BXSL has moved from $22.47 to $32.81 (a 46% range), compared to ARCC's $17.40 to $23.42 (a 35% range), suggesting BXSL trades with more volatility—either from fund-specific flows or underlying loan concentration.
Who each is best for
* ARCC: Dividend investors seeking lower volatility and diversification across direct lending, second liens, and equity in larger companies; suitable for taxable accounts where the 10% yield offsets tax drag.
* BXSL: Yield-focused investors with higher risk tolerance, longer time horizons, and preference for tighter-credit secured lending; may appeal in tax-deferred accounts given the 12%+ distribution.
Key risks to know
* NAV erosion from above-market yield. Both funds distribute more than underlying returns in most years, relying partly on return of capital. A 10–12% yield in a 5–7% mid-market loan environment suggests gradual principal depletion over time.
* Credit concentration and cyclicality. BDC returns depend on the health of underlying middle-market borrowers. Economic slowdown or rising rates can spur loan defaults; BXSL's focus on secured first liens provides some buffer, but is not insulation.
* Interest-rate sensitivity. Rising rates can widen loan spreads (positive for future originations) but may pressure existing floating-rate loan values and borrower debt service. Falling rates work the opposite way.
* Share price volatility. BXSL's wider 52-week range suggests it trades less efficiently or holds more volatile collateral; large redemptions or inflows can spike the discount or premium to NAV.
Bottom line
If you prioritize stability, income, and diversification across the lending spectrum, ARCC's lower yield and tighter valuation range may feel safer. If you're willing to tolerate higher volatility in exchange for a 230-basis-point yield pickup and favor secured, tighter-credit lending, BXSL justifies the extra yield—but only if you can hold through interest-rate cycles without panic-selling. Neither is a substitute for due diligence on the underlying loan book and macroeconomic backdrop. Past performance doesn't predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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