ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
VanEck is known for offering specialized and thematic ETFs across diverse asset classes, including commodities, digital assets, and sector-specific investments. The firm's 22-fund lineup spans income-generating options, covered call strategies, and growth-focused equity funds, with popular tickers including GDX (gold miners), SMH (semiconductors), MOAT (competitive advantage stocks), and HODL (bitcoin). VanEck distinguishes itself through niche exposure areas such as digital assets, commodities, and thematic investing strategies, complemented by traditional bond and municipal bond offerings.
See our curated list of related YouTube videos on BIZD.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Putnam is known for offering specialized income-focused ETF solutions in the dividend and fixed income space. The issuer currently operates a single ETF, PBDC, which targets investors seeking regular distributions and income generation. This focused, income-oriented approach reflects Putnam's emphasis on delivering consistent yield strategies to dividend-focused investors.
See our curated list of related YouTube videos on PBDC.
Basket (Business Development Companies and Treasury Bills)
Business Development Companies
Objective
The VanEck BDC Income ETF (BIZDTM) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS®US Business Development Companies Index (MVBDCTRG), which tracks the overall performance of publicly traded business development companies.
Seeks current income by investing primarily in exchange-traded business development companies (BDCs) whose principal business is to invest in, lend capital to, or provide services to privately held or thinly traded U.S. companies.
Asset class
Equity
Equity
Inception date
02/11/2013
02/16/2023
Beta
0.37
0.68
Last dividend
$0.2390
$0.6960
Ex-dividend date
07/01/2026
07/07/2026
Bottom lineChoose BIZD if you want broad equity exposure. Choose PBDC if you want higher current income (10.42% vs 7.62% for BIZD).
Most used
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
BIZD has lagged PBDC over the trailing twelve months, posting a -14.77% total return against -13.87%. The lead holds up over 3 years too: PBDC has compounded at 5.99% a year, against 4.36% for BIZD. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 10, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Sep 2022” measures every fund from September 30, 2022 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
BIZD (VanEck BDC Income ETF) and PBDC (Putnam BDC Income ETF) are both quarterly-pay dividend ETFs, but they take different approaches.
PBDC offers the higher yield at 10.42% vs 7.62% for BIZD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
PBDC is cheaper with an expense ratio of 6.79% compared to 11.17%.
They track different benchmarks: BIZD is linked to Basket (Business Development Companies and Treasury Bills) while PBDC tracks Business Development Companies, which means their performance drivers differ.
BIZD is the larger fund by assets ($1.58B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose BIZD
VanEck BDC Income ETF
Want broad equity exposure.
Prefer lower volatility — a beta of 0.4 vs 0.7 for PBDC.
Choose PBDC
Putnam BDC Income ETF
Want higher current income — PBDC yields 10.42% vs 7.62% for BIZD.
Want broad equity exposure.
Want to keep costs low — a 6.79% expense ratio vs 11.17% for BIZD.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, BIZD would generate roughly $63.50/month, while PBDC would produce $86.83/month, at current distribution rates. Both pay quarterly distributions.
BIZD yield7.62%
PBDC yield10.42%
Monthly diff on $10K$23.33
Cost & efficiency
Over 10 years on $10,000, BIZD would cost approximately $11,170 in fees vs $6,790 for PBDC (simplified, not compounded). The $4,380.00 difference may be offset by yield or performance.
BIZD ER11.17%
PBDC ER6.79%
Strategy & risk
BIZD tracks Basket (Business Development Companies and Treasury Bills) with a bdc approach, while PBDC tracks Business Development Companies. Beta is 0.37 for BIZD and 0.68 for PBDC, indicating BIZD is less volatile relative to the market.
BIZD beta0.37
PBDC beta0.68
Fund details
BIZD is managed by VanEck (launched 02/11/2013) with $1.58B in assets. PBDC is managed by Putnam (launched 02/16/2023) with $281M in assets.
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Frequently asked questions
Is BIZD or PBDC better for dividend income?
It depends on your goals. PBDC 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 BIZD and PBDC?
BIZD (VanEck BDC Income ETF) tracks Basket (Business Development Companies and Treasury Bills) with a bdc approach, while PBDC (Putnam BDC Income ETF) tracks Business Development Companies. They are issued by VanEck and Putnam respectively.
Can I hold both BIZD and PBDC?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, BIZD or PBDC?
BIZD has an expense ratio of 11.17% while PBDC charges 6.79%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in BIZD vs PBDC generate?
At current rates, $10,000 in BIZD would generate roughly $63.50 per month ($762.00 annually). The same in PBDC would produce about $86.83 per month ($1,042.00 annually).
Which has performed better historically, BIZD or PBDC?
BIZD has lagged PBDC over the trailing twelve months, posting a -14.77% total return against -13.87%. The lead holds up over 3 years too: PBDC has compounded at 5.99% a year, against 4.36% for BIZD. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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