PEX vs. PBDC ETF Comparison

Comparison of ProShares Global Listed Private Equity ETF (PEX) to Putnam BDC Income ETF (PBDC)

PEX

ProShares Global Listed Private Equity ETF

PEX Description

The investment seeks investment results before fees and expenses that track the performance of the LPX Direct Listed Private Equity Index (the "index"). The index consists of up to 30 qualifying listed private equity companies. The fund invests in securities that ProShare Advisors believes, in combination, should track the performance of the index. It will invest at least 80% of its total assets in component securities. The fund will concentrate its investments in a particular industry or group of industries, country or region to approximately the same extent as the index is so concentrated. It is non-diversified.

Grade (RS Rating)

Last Trade

$29.94

Average Daily Volume

2,784

Number of Holdings ^*

* 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

$34.10

Average Daily Volume

32,965

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	PEX	PBDC
30 Days	2.21%	3.44%
60 Days	4.02%	7.09%
90 Days	6.16%	9.00%
12 Months	26.24%	37.66%

6 Overlapping Holdings

Symbol	Grade	Weight in PEX	Weight in PBDC	Overlap
ARCC	A	10.04%	12.17%	10.04%
FSK	B	7.89%	7.22%	7.22%
GBDC	A	4.31%	5.62%	4.31%
HTGC	A	4.45%	6.83%	4.45%
MAIN	A	6.3%	9.77%	6.3%
TSLX	B	3.17%	5.48%	3.17%

PEX Overweight 7 Positions Relative to PBDC

Symbol	Grade	Weight
GSBD	A	2.61%
PSEC	F	2.55%
CODI	D	2.2%
NMFC	A	1.84%
CSWC	A	1.7%
BBDC	A	1.38%
SLRC	A	1.08%

PEX Underweight 4 Positions Relative to PBDC

Symbol	Grade	Weight
OBDC	A	-12.65%
BXSL	A	-10.05%
MFIC	A	-4.54%
BCSF	A	-4.12%

PEX: Top Represented Industries & Keywords

Industries: Asset Management Credit Services Conglomerates Specialty Finance

PBDC: Top Represented Industries & Keywords

Industries: Asset Management Internet Software & Services Specialty Finance