- Issuer
- First Trust
- Inception Date
- Jun 30, 2025
- Region
- North America (U.S.)
- Category
- Financials Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Value
- Assets Under Management
- $34M
Share Price Chart
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Performance
FBDC Performance Chart
FT Confluence BDC & Specialty Finance Income ETF (FBDC) is down 10.7% since the beginning of the year. FBDC is currently trading at $16 per share.
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Returns By Period
FT Confluence BDC & Specialty Finance Income ETF
- 1D
- -1.16%
- 1M
- -1.54%
- YTD
- -10.66%
- 6M
- -9.44%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FBDC Monthly Returns History
Based on dividend-adjusted daily data since Jun 30, 2025, FBDC's average daily return is -0.05%, while the average monthly return is -0.96%.
Historically, 46% of months were positive and 54% were negative. The best month was Apr 2026 with a return of +7.7%, while the worst month was Feb 2026 at -11.2%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 2 months.
On a daily basis, FBDC closed higher 47% of trading days. The best single day was Oct 13, 2025 with a return of +3.1%, while the worst single day was Feb 27, 2026 at -3.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.72% | -11.21% | 2.24% | 7.68% | -5.00% | -3.10% | -10.66% | ||||||
| 2025 | -0.24% | 2.25% | 1.13% | -6.49% | -0.94% | 1.44% | 0.41% | -2.66% |
Benchmark Metrics
FT Confluence BDC & Specialty Finance Income ETF has an annualized alpha of -22.46%, beta of 0.63, and R2 of 0.19 versus S&P 500 Index. Calculated based on daily prices since June 30, 2025.
- This ETF participated in 152.92% of S&P 500 Index downside but only -4.81% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.63 may look defensive, but with R2 of 0.19 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.19 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -22.46%
- Beta
- 0.63
- R²
- 0.19
- Upside Capture
- -4.81%
- Downside Capture
- 152.92%
Expense Ratio
FBDC has a high expense ratio of 1.35%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for FT Confluence BDC & Specialty Finance Income ETF (FBDC) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FBDC | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
FT Confluence BDC & Specialty Finance Income ETF provided a 11.67% dividend yield over the last twelve months, with an annual payout of $1.93 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.93 | $1.05 |
Dividend yield | 11.67% | 5.41% |
Monthly Dividends
The table displays the monthly dividend distributions for FT Confluence BDC & Specialty Finance Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.00 | $0.88 | ||||||
| 2025 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $1.05 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the FT Confluence BDC & Specialty Finance Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the FT Confluence BDC & Specialty Finance Income ETF was 20.60%, occurring on Mar 27, 2026. The portfolio has not yet recovered.
The current FT Confluence BDC & Specialty Finance Income ETF drawdown is 18.29%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -20.60%Mar 2026 | 8mo 12d | — | 11mo 10dJul 2025 - now |
2025 pullback2025 | -0.94%Jul 2025 | 0s | 1d | 1dJul 2025 - Jul 2025 |
2025 pullback2025 | -0.48%Jul 2025 | 1d | 1d | 2dJun 2025 - Jul 2025 |
Drawdown Indicators
| FBDC | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.60% | -56.78% | +36.18% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -18.29% | -1.80% | -16.49% |
Average DrawdownAverage peak-to-trough decline | -10.41% | -10.71% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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