BDC Comparison
FSK vs MAIN: Which Is the Better Pick in 2026?
A head-to-head comparison of FS KKR Capital Corp. and Main Street Capital Corporation covering yield, cost, risk, and income potential.
Data updated September 4, 2026
Best for
- FSKInvestors who want higher current income (19.27% vs 7.47% for MAIN).
- MAINInvestors who want private-credit income through a business development company.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
FSK has lagged MAIN over the trailing twelve months, posting a -17.93% total return against -5.29%. The lead holds up over 10 years too: MAIN has compounded at 13.48% a year, against 1.87% for FSK. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD | 1Y | 3Y | 5Y | 10Y | Since Apr 2014 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|---|---|
| FSK | -9.04% | -17.93% | -1.13% | 2.23% | 1.87% | 3.09% | 25.1% | -0.22 | -0.29 | -51.0% |
| MAIN | -1.93% | -5.29% | 22.09% | 15.29% | 13.48% | 13.39% | 21.0% | 0.74 | 1.03 | -22.4% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Apr 2014” measures every fund from April 16, 2014 — 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.
Side-by-side snapshot
| Metric |  FSK |  MAIN |
|---|---|---|
| Full name | FS KKR Capital Corp. | Main Street Capital Corporation |
| Issuer | FS Investments | Main Street Capital |
| Last Close | $12.44 as of September 4, 2026 | $57.68 as of September 4, 2026 |
| Distribution yield | 19.27% | 7.47% |
| Distribution Safety Score™ | 45 | 100 |
| Safety-Adjusted Yield | 8.67% | 7.47% |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | Quarterly | Monthly |
| Underlying index | — | — |
| Objective | — | — |
| Asset class | Equity | Equity |
| Inception date | N/A | N/A |
| Beta | 0.884 | 0.723 |
| Last dividend | $0.42 declared, pays 10/02/2026 | $0.265 declared, pays 09/15/2026 |
| Ex-dividend date | 09/16/2026 upcoming | 09/08/2026 upcoming |
Bottom lineChoose FSK if you want higher current income (19.27% vs 7.47% for MAIN). Choose MAIN if you want private-credit income through a business development company.
Income calculator
See how much monthly income a hypothetical investment would generate in each business development company at current yields.
Want to go deeper?
Add these BDCs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.
Quick verdict
FSK (FS KKR Capital Corp.) and MAIN (Main Street Capital Corporation) are both dividend-paying business development companies (BDCs), but they take different approaches.
FSK offers the higher yield at 19.27% vs 7.47% for MAIN. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
Who should choose each?
Choose FSK
FS KKR Capital Corp.
- Want higher current income — FSK yields 19.27% vs 7.47% for MAIN.
- Want private-credit exposure — a BDC lending to middle-market companies.
Choose MAIN
Main Street Capital Corporation
- Want private-credit exposure — a BDC lending to middle-market companies.
- Prefer lower volatility — a beta of 0.7 vs 0.9 for FSK.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track FSK & MAIN for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
Deep dive
Yield & income
On a $10,000 investment, FSK would generate roughly $160.58/month, while MAIN would produce $62.25/month, at current distribution rates.
Strategy & risk
FSK is a business development company built around BDC exposure, while MAIN is a business development company built around BDC exposure. Beta is 0.884 for FSK and 0.723 for MAIN, making MAIN the less volatile of the two by this measure.
Security details
FSK (FS KKR Capital Corp.) is a business development company. MAIN (Main Street Capital Corporation) is a business development company.
Enjoyed this page?
Do us a favor — if you found this comparison useful, please share it with a friend researching dividend investments.
Frequently asked questions
What is the current distribution yield for FSK and MAIN?
FSK currently distributes 19.27% and MAIN 7.47%, based on fund data updated September 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is FSK or MAIN better for dividend income?
It depends on your goals. FSK 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 FSK and MAIN?
FSK (FS KKR Capital Corp.) is a business development company built around BDC exposure, while MAIN (Main Street Capital Corporation) is a business development company built around BDC exposure. They are issued by FS Investments and Main Street Capital respectively.
Can I hold both FSK and MAIN?
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.
Is FSK or MAIN safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — MAIN scores 100, FSK scores 45, so MAIN's payout currently looks the more resilient of the two. MAIN has also shown lower price volatility (beta 0.72 vs 0.88 for FSK). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
How much income does $10,000 in FSK vs MAIN generate?
At current rates, $10,000 in FSK would generate roughly $160.58 per month ($1,927.00 annually). The same in MAIN would produce about $62.25 per month ($747.00 annually).
Which has performed better historically, FSK or MAIN?
FSK has lagged MAIN over the trailing twelve months, posting a -17.93% total return against -5.29%. The lead holds up over 10 years too: MAIN has compounded at 13.48% a year, against 1.87% for FSK. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
More comparisons to explore
People also compare MAIN with
Popular comparisons
FSK vs MAIN — at a glance
Generated August 29, 2026.
Overview
FSK and MAIN are both business development companies that invest in middle-market companies, but they pursue distinctly different capital structures and payout strategies. FSK is structured as a non-traded BDC focused on larger, more liquid deals with higher leverage, while MAIN is a publicly traded BDC that emphasizes smaller investments with a lower leverage profile. The gap in their distribution rates—FSK yields 19.27% versus MAIN's 7.47%—reflects these structural differences and risk profiles.
How they differ
FSK's headline difference is its aggressive leverage strategy and concentrated focus on larger transactions, which translates directly into its 19.27% distribution rate. MAIN, by contrast, maintains a more conservative capital structure and diversifies across smaller deals, supporting a 7.47% yield with monthly distributions rather than quarterly payouts. FSK's beta of 0.884 sits noticeably higher than MAIN's 0.723, signaling greater sensitivity to market swings—a natural consequence of elevated financial leverage. The price gap ($12.44 for FSK versus $57.68 for MAIN) reflects differences in their net asset value per share and share count, not valuation spread alone.
Who each is best for
FSK: Fits investors with high current income needs who can tolerate significant leverage-driven volatility and understand that outsized distributions may include material return-of-capital components in periods of deal flow weakness.
MAIN: Designed for income-focused investors who prioritize stability and monthly cash flow over maximum yield, and who prefer a lower-leverage BDC with more granular diversification across deal sizes.
Key risks to know
- FSK's leverage amplifies downside: Non-traded BDCs can carry debt levels 1.5x or higher relative to equity, magnifying losses when underlying portfolio companies underperform. FSK's higher beta reflects this sensitivity.
- FSK's NAV erosion risk: A 19.27% distribution rate on a BDC trading below net asset value creates material risk that the fund is returning capital rather than distributing investment income, eroding book value over time.
- Liquidity and repricing risk for non-traded structures: FSK's non-traded status means holdings are valued through internal valuation processes rather than continuous market pricing; shares may trade at significant discounts to NAV if secondary-market appetite weakens.
- MAIN's lower yield comes with reinvestment risk: Monthly distributions require the investor to consistently redeploy dividends to maintain total returns; recipients holding MAIN in a cash account may face timing friction.
- Deal-cycle concentration: Both BDCs face concentration risk tied to middle-market credit cycles; a recession or tightening in leveraged lending could pressure portfolio company earnings and reduce distributions across both funds. Past performance does not guarantee future results, and both distributions depend on continued deal origination and portfolio company health.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
Still deciding? Compare them against your own portfolio
See how each business development company fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.