Putnam BDC Income ETF
Data updated: 2026-09-25
C000237307 — Putnam BDC Income ETF. United States Small Cap Blend / Core Equity · $283.07M AUM. Holdings, fees, performance and SEC filings.
C000237307 Fund Overview
Putnam BDC Income ETF is a US ETF managed by Putnam ETF Trust, categorised as United States Small Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Putnam ETF Trust
- Category: United States Small Cap Blend / Core Equity
- Assets under management: $283.07M
- 1-year return: 0.1%
- SEC CIK: 0001845809
- SEC series ID: S000077137
- Share class ID: C000237307
C000237307 Investment Objective and Strategy
Putnam BDC Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Putnam ETF Trust.
Investment objective
The fund seeks current income.
Principal investment strategy
The fund invests mainly in exchange-traded business development companies (BDCs). To qualify as a BDC, a company must be organized under the laws of, and have its principal place of business in, the United States, be registered with the Securities and Exchange Commission (the SEC) and have elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the 1940 Act). BDCs are vehicles whose principal business is to invest in, lend capital to or provide services to privately-held U.S. companies or thinly traded U.S. public companies. The Investment Manager, as defined below, will seek BDC investments that contribute to stability of dividend income and return potential. In selecting investments, the Investment Manager expects to evaluate a BDCs credit performance and risk level, potential changes in earnings and dividend levels, the impact of changes in interest rates on the BDC, and differences among BDCs in leverage and balance sheet structures.
Given that the fund will invest primarily in BDCs and a significant portion of BDCs have exposure to the financials sector, a significant portion of the funds assets will have exposure to the financials sector. The Investment Manager may consider, among other factors, a BDCs valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends, and capital policies, as well as overall market conditions, when deciding whether to buy or sell investments. Under normal circumstances, the fund invests at least 80% of the value of its net assets in BDCs. This policy is non-fundamental and may be changed only after 60 days notice to shareholders. The fund may invest up to 20% of its assets in real estate investment trusts (REITs), including mortgage REITs.
A REIT pools investors funds for investment primarily in income-producing real estate properties or real estate-related loans (such as mortgages). The real estate properties in which REITs invest typically include properties such as office buildings, retail and industrial facilities, hotels, apartment buildings and healthcare facilities. The fund will limit its investments in REITs to publicly-traded REITs listed on national securities exchanges. The fund is non-diversified, which means it may invest a greater percentage of its assets in fewer issuers than a diversified fund. The fund expects to invest in a limited number of issuers.
C000237307 Holdings
Top 10 holdings of Putnam BDC Income ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Blue Owl Capital Corp. | 10.76% |
| Ares Capital Corp. | 10.38% |
| Blue Owl Technology Finance Corp. | 10.09% |
| Hercules Capital, Inc. | 8.61% |
| Golub Capital Bdc, Inc. | 7.54% |
| Main Street Capital Corp. | 6.70% |
| Trinity Capital, Inc. | 4.80% |
| Blackstone Secured Lending Fund | 4.32% |
| Sixth Street Specialty Lending, Inc. | 4.31% |
| Barings Bdc, Inc. | 4.11% |
C000237307 Portfolio Allocation
Asset-class allocation of Putnam BDC Income ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.8% |
| Cash & Equivalents | 0.3% |
C000237307 Performance
Total returns for C000237307 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -4.4% |
| 1 year | 0.1% |
| 3 years (annualised) | 11.2% |
C000237307 Risk Information
Risk metrics for C000237307, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.0%
C000237307 Costs and Fees
C000237307 costs about $1177 per $10,000 invested per year in fund expenses.
- Net expense ratio: 11.77%
- Gross expense ratio: 11.77%
- Portfolio turnover: 38%
- Brokerage commissions: 15.22 bps of average net assets (SEC N-CEN)
C000237307 Cashflows
Over the 12 months to 2026-04, Putnam BDC Income ETF had net inflows of $108.90M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $16.51M |
| 2026-03 | $18.99M |
| 2026-02 | $3.61M |
| 2026-01 | $5.34M |
| 2025-12 | −$10.49M |
| 2025-11 | $14.31M |
C000237307 Debt Constituents
No individual debt constituents are reported in Putnam BDC Income ETF's latest SEC N-PORT filing.
C000237307 Prospectus and SEC Filings
Official Putnam BDC Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-08-25
- Prospectus (485BPOS) — filed 2025-08-25
- Prospectus (485BPOS) — filed 2024-08-27
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-24
- Portfolio holdings (N-PORT) — filed 2026-03-31
- Annual census (N-CEN) — filed 2025-07-14
- Annual census (N-CEN) — filed 2024-07-12
Related Funds
Other United States Small Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.