PBDC vs. OCIO ETF Comparison

Comparison of Putnam BDC Income ETF (PBDC) to ClearShares OCIO ETF (OCIO)

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

$34.27

Average Daily Volume

32,142

Number of Holdings ^*

10

* may have additional holdings in another (foreign) market

OCIO

ClearShares OCIO ETF

OCIO Description

The investment seeks to outperform a traditional 60/40 mix of global equity and fixed-income investments. The fund is expected to typically invest approximately 40% to 70% of its total assets in underlying funds that principally invest in equity securities of any market capitalization. It is expected to typically invest approximately 20% to 50% of its total assets in underlying funds that principally invest in debt obligations.

Grade (RS Rating)

Last Trade

$31.68

Average Daily Volume

969

Number of Holdings ^*

15

* may have additional holdings in another (foreign) market

Performance

Period	PBDC	OCIO
30 Days	3.99%	-0.17%
60 Days	7.54%	-0.78%
90 Days	10.65%	1.59%
12 Months	33.71%	10.61%

0 Overlapping Holdings

	Symbol	Grade	Weight in PBDC	Weight in OCIO	Overlap

PBDC Overweight 10 Positions Relative to OCIO

	Symbol	Grade	Weight
	OBDC	A	12.65%
	ARCC	A	12.17%
	BXSL	A	10.05%
	MAIN	A	9.77%
	FSK	B	7.22%
	HTGC	A	6.83%
	GBDC	B	5.62%
	TSLX	B	5.48%
	MFIC	A	4.54%
	BCSF	B	4.12%

PBDC Underweight 15 Positions Relative to OCIO

	Symbol	Grade	Weight
	QQQ	C	-5.47%
	IEI	C	-4.77%
	SPMO	C	-4.62%
	OPER	A	-4.5%
	FLOT	A	-3.53%
	GVI	C	-3.36%
	SCHF	A	-3.31%
	SCHK	B	-2.91%
	SHY	A	-2.84%
	BIL	A	-2.62%
	IEF	D	-1.91%
	VGIT	C	-1.43%
	IXUS	A	-1.03%
	SCHP	B	-0.84%
	EMXC	C	-0.78%

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

OCIO: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund U.S. Treasury Bond Bloomberg Barclays Us Aggregate Bond Index Bond Market Stock Market Index U.S. Government Index Fund Bond Market Indices Exchange Traded Funds Government Bonds Fixed Income Merrill Lynch Yield Bear Market ETF Betashares Bond Fund Corporate Bond Debt