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Advisors did not slow down on exchange-traded funds in the second quarter. They added more of them, and pointed the money somewhere new, according to AdvizorPro's Q2 2026 RIA ETF Trends report.
BIZD's double-digit yield looks like a private-credit shortcut, but a hidden fee structure quietly eats into returns in a way most investors never calculate before they buy.
Private credit has grown into an asset class that now rivals high-yield bonds, with direct lending, middle market loans, and collateralized loan structures moving trillions of dollars outside the traditional banking system.
This article is focused on retirees and income investors who want to generate both a passive income and decent capital appreciation. The income is important for retirees, but they should not overlook the capital growth to meet or beat inflation to support at least 30 years of retirement. We present a portfolio of 10 funds that is highly diversified with nearly as many different industry segments. The portfolio offers a 7% plus yield and roughly $6,000 monthly income.
BDC ETFs dangle yields that could replace a Social Security check from a fraction of the capital, but the fine print buried in quarterly non-accrual data tells a very different story about where that income actually comes from.
The number that stops investors cold when they look at the Putnam BDC Income ETF (NYSEARCA:PBDC) is 13.49%.
Income investors chasing yields north of 10% keep circling back to business development companies, the publicly traded lenders that finance middle-market private businesses.
BDCs play an essential role in financing middle-market companies across America; they also earn interest rates averaging over 2% higher than typical high-yield corporate bonds. Putnam BDC Income ETF (PBDC) has outperformed VanEck BDC Income ETF (BIZD) since its 2022 inception, driven by active management and higher yields. PBDC's portfolio is almost entirely invested in BDCs, yielding 10.9%, while BIZD's portfolio holds 34% T-Bills, dragging the yield down to 8.57%.
SEC filings for PBDC aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.