RMIF vs. PBDC ETF Comparison

Comparison of ETF Series Solutions LHA Risk-Managed Income ETF (RMIF) to Putnam BDC Income ETF (PBDC)

RMIF

ETF Series Solutions LHA Risk-Managed Income ETF

RMIF Description

The fund is an actively-managed "fund of funds" and seeks to achieve its investment objective by investing primarily in other investment companies, including other actively managed exchange-traded funds ("ETFs") and index-based ETFs (collectively, "Underlying Investments"), that provide exposure to a broad range of fixed income asset classes. The fund may also invest in cash, cash equivalents, or money market funds.

Grade (RS Rating)

Last Trade

$25.06

Average Daily Volume

2,820

Number of Holdings ^*

5

* may have additional holdings in another (foreign) market

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

$35.20

Average Daily Volume

30,158

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

Performance

Period	RMIF	PBDC
30 Days	-0.09%	0.57%
60 Days	0.24%	3.22%
90 Days	1.06%	7.74%
12 Months	6.09%	25.69%

0 Overlapping Holdings

	Symbol	Grade	Weight in RMIF	Weight in PBDC	Overlap

RMIF Overweight 5 Positions Relative to PBDC

	Symbol	Grade	Weight
	BKLN	A	20.45%
	SRLN	B	20.44%
	SJNK	A	20.0%
	FTSL	C	19.48%
	SHYG	A	18.78%

RMIF Underweight 10 Positions Relative to PBDC

	Symbol	Grade	Weight
	OBDC	C	-12.84%
	ARCC	A	-12.09%
	BXSL	B	-10.37%
	MAIN	A	-9.62%
	FSK	A	-6.97%
	HTGC	A	-6.58%
	TSLX	A	-6.05%
	GBDC	C	-5.38%
	MFIC	C	-4.89%
	BCSF	A	-4.55%

RMIF: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bond Bond Market Indices High Yield Debt iBoxx Asset Backed Security Bank Loans Barclays Blackstone Bond Fund Bond Market Index Corporate Bond Debt Securities Exchange Traded Funds Index Fund Invesco Powershares Loan Mortgage Backed Security Rate Bank Loans

PBDC: Top Represented Industries & Keywords

Industries: Asset Management Internet Software & Services Specialty Finance

Keywords: Private Equity Venture Capital Business Development Business Development Company Mezzanine Capital Credit Loan Refinancing U.S. Securities And Exchange Commission Debt Debt Financing Golub Capital Leveraged Buyout Pharmaceutical Second Lien Loan Subordinated Debt Venture Debt Advanced Materials Aerospace Bankruptcy