ETF Comparison
ARCC vs MAIN: Which Is the Better Pick in 2026?
A head-to-head comparison of Ares Capital Corporation and Main Street Capital Corporation covering yield, cost, risk, and income potential.
Data updated May 20, 2026
Side-by-side snapshot
| ARCC | MAIN | |
|---|---|---|
| Full name | Ares Capital Corporation | Main Street Capital Corporation |
| Issuer | — | — |
| Last Close | $18.72 as of May 20, 2026 | $50.99 as of May 20, 2026 |
| Distribution yield | 10.26% | 13.26% |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | — | — |
| Underlying index | — | — |
| Objective | — | — |
| Asset class | Equity | Equity |
| Inception date | — | — |
| Last dividend | $0.48 | $0.26 |
| Ex-dividend date | 03/13/2026 | 05/08/2026 |
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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 MAIN (Main Street Capital Corporation) are both dividend ETFs, but they take different approaches.
MAIN offers the higher yield at 13.26% 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 MAIN would produce $110.50/month, at current distribution rates.
Cost & efficiency
Over 10 years on $10,000, ARCC would cost approximately $0 in fees vs $0 for MAIN (simplified, not compounded). Both charge the same expense ratio.
Strategy & risk
ARCC tracks — with a bdc approach, while MAIN tracks — using a bdc strategy.
Fund details
ARCC is managed by — (launched —) with — in assets. MAIN is managed by — (launched —) with — in assets.
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Frequently asked questions
Is ARCC or MAIN better for dividend income?
It depends on your goals. MAIN 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 MAIN?
ARCC (Ares Capital Corporation) tracks — with a bdc strategy, while MAIN (Main Street Capital Corporation) tracks — with a bdc approach. They are issued by — and — respectively.
Can I hold both ARCC and MAIN?
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 MAIN?
ARCC has an expense ratio of — while MAIN charges —. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in ARCC vs MAIN generate?
At current rates, $10,000 in ARCC would generate roughly $85.50 per month ($1,026.00 annually). The same in MAIN would produce about $110.50 per month ($1,326.00 annually).
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ARCC vs MAIN — at a glance
Generated April 2026 from current fund data.
Overview
ARCC and MAIN are both business development companies (BDCs) that lend to and invest in middle-market private companies, generating income through interest payments and equity gains. The key distinction: ARCC is substantially larger and more diversified across deal types and geographies, while MAIN runs a smaller, more concentrated portfolio with a tilt toward lower-middle-market control investments and real estate debt.
How they differ
ARCC trades at $18.97 with a 10.12% distribution rate; MAIN trades at $57.83 with an 11.69% yield—a spread that reflects both valuation and portfolio composition. MAIN's higher yield comes from a more concentrated loan book where the largest positions represent a larger share of NAV, and from a higher allocation to real estate debt, which typically pays more but carries refinancing risk. ARCC's lower yield sits alongside greater scale (roughly 3x MAIN's AUM based on price and typical BDC structure), which tends to reduce single-name credit risk and smooth earnings. Both BDCs trade at discounts to historical NAV—ARCC is near the lower end of its 52-week range ($17.40–$23.42), while MAIN trades mid-range ($50.77–$67.77)—suggesting neither is deeply discounted on a relative basis at present.
Who each is best for
ARCC: Conservative income investors or those nearing or in retirement who can tolerate moderate equity volatility and want diversified middle-market credit exposure; best held in tax-deferred accounts given the high ordinary income component of distributions.
MAIN: Income-focused investors with a higher risk tolerance and a 5+ year horizon who are comfortable with concentrated single-name and real estate refinancing risk in exchange for a higher current yield; also suitable for tax-deferred accounts.
Key risks to know
- Concentration risk in MAIN. Smaller AUM means larger position sizes as a percentage of NAV; a single loan default or real estate refinancing miss has outsized portfolio impact compared to ARCC.
- Interest rate sensitivity. Both BDCs benefit from higher rates (floating-rate loans re-price), but MAIN's real estate debt allocation exposes it to refinancing pressure if rates decline or credit spreads tighten.
- NAV erosion potential. MAIN's 11.69% yield may include return-of-capital if underlying portfolio returns don't keep pace; ARCC's lower yield is more likely to be covered by actual earnings.
- Leverage. Both use debt financing to amplify returns; in a credit downturn, forced asset sales or covenant breaches could impair distributions.
- Equity volatility. BDC share prices typically decline when credit spreads widen or recession fears rise, even if NAV holds up, creating timing risk for income investors.
Bottom line
If you want lower volatility and diversification with a sustainable (if modest) yield, ARCC's 10% payout and larger scale make it a steadier hold. If you're willing to accept concentration and real estate refinancing risk for an extra 150 basis points of yield, MAIN rewards that trade-off—but only if your income need is high and your time horizon is long enough to weather a credit cycle. Past performance doesn't predict future results; both will be sensitive to prime lending rates and private credit market health.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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