PBDC vs. SMHB ETF Comparison

Comparison of Putnam BDC Income ETF (PBDC) to ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B (SMHB)
PBDC

Putnam BDC Income ETF

PBDC Description

Putnam BDC Income ETF is an exchange traded fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across business development companies sectors. The fund invests in growth and value stocks of companies across diversified market capitalization. Putnam BDC Income ETF is domiciled in the United States.

Grade (RS Rating)

Last Trade

$32.93

Average Daily Volume

36,213

Number of Holdings *

16

* may have additional holdings in another (foreign) market
SMHB

ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B

SMHB Description The investment seeks to provide a two times leveraged return linked to the compounded monthly performance of the Solactive US Small Cap High Dividend Index (the “index”). The index is designed to measure the performance of 100 relatively small capitalization, dividend yielding index constituent securities selected from a universe of qualifying U.S. listed equity securities. The Securities are two times leveraged with respect to the index and, as a result, will benefit from two times any beneficial, but will be exposed to two times any adverse, compounded monthly performance of the index.

Grade (RS Rating)

Last Trade

$5.73

Average Daily Volume

33,210

Number of Holdings *

90

* may have additional holdings in another (foreign) market
Performance
Period PBDC SMHB
30 Days -1.93% -4.90%
60 Days -1.99% 0.46%
90 Days 0.76% -1.37%
12 Months 15.60% 22.79%
12 Overlapping Holdings
Symbol Grade Weight in PBDC Weight in SMHB Overlap
BBDC D 2.83% 0.22% 0.22%
BCSF A 4.52% 0.24% 0.24%
CCAP C 4.24% 0.1% 0.1%
CGBD C 1.05% 0.25% 0.25%
CSWC D 3.48% 0.34% 0.34%
FDUS C 2.04% 0.16% 0.16%
GBDC C 4.95% 0.73% 0.73%
HTGC C 6.8% 1.03% 1.03%
MAIN B 9.75% 1.09% 1.09%
NMFC F 2.4% 0.38% 0.38%
TRIN D 2.26% 0.12% 0.12%
TSLX D 6.0% 0.62% 0.62%
PBDC Overweight 4 Positions Relative to SMHB
Symbol Grade Weight
ARCC B 11.8%
BXSL B 9.79%
FSK B 6.35%
CION C 3.82%
PBDC Underweight 78 Positions Relative to SMHB
Symbol Grade Weight
SLG B -4.87%
XRX F -4.09%
DTM A -3.81%
BXMT C -3.43%
DSS D -2.87%
TWO F -2.87%
CIM D -2.62%
BDN C -2.41%
BGS C -2.41%
SBRA B -2.38%
EPR D -2.34%
ABR B -2.21%
APAM A -2.02%
PAGP D -1.88%
UNIT C -1.86%
UWMC F -1.84%
ARR D -1.65%
NHI C -1.64%
ORC D -1.51%
CCOI B -1.51%
PSEC D -1.47%
IVR F -1.43%
DEA C -1.35%
PMT D -1.35%
MFA D -1.27%
RWT D -1.24%
CTRE A -1.16%
PETS C -1.13%
ARI F -1.02%
GNL D -1.01%
FCPT D -1.0%
EFC D -1.0%
PDM C -0.99%
GSBD F -0.94%
NEWT B -0.94%
NYMT D -0.93%
LTC A -0.91%
DX C -0.89%
KREF D -0.8%
VGR B -0.79%
NWBI C -0.77%
CODI D -0.72%
VNOM A -0.65%
SCS F -0.65%
RC F -0.65%
ACRE F -0.64%
LADR B -0.62%
HESM D -0.59%
UVV C -0.54%
OCSL D -0.54%
AROC D -0.53%
GMRE D -0.5%
ILPT F -0.49%
BRSP C -0.49%
WSR B -0.46%
ALX D -0.45%
GTY C -0.44%
OPI F -0.4%
RMR D -0.38%
UHT D -0.36%
GPMT C -0.34%
GOOD C -0.33%
FSP A -0.29%
TRTX A -0.29%
TCPC F -0.27%
AHH D -0.27%
TPVG F -0.23%
PFLT C -0.23%
SLRC B -0.23%
UVE C -0.22%
KRO D -0.2%
EBF F -0.18%
GAIN B -0.17%
PNNT C -0.16%
OLP C -0.16%
GLAD B -0.15%
BFS D -0.14%
REPX F -0.07%
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