BPAY vs. FBDC
BPAY (BlackRock Future Financial and Technology ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. Both are actively managed. A 0.55 correlation means they provide meaningful diversification when combined. BPAY charges 0.70%/yr vs 1.35%/yr for FBDC.
Performance
BPAY vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, BPAY achieves a -10.58% return, which is significantly lower than FBDC's -7.17% return.
BPAY
- 1D
- 2.12%
- 1M
- -1.68%
- YTD
- -10.58%
- 6M
- -13.16%
- 1Y
- -9.61%
- 3Y*
- 9.60%
- 5Y*
- —
- 10Y*
- —
FBDC
- 1D
- 2.59%
- 1M
- -5.28%
- YTD
- -7.17%
- 6M
- -8.43%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BPAY vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BPAY BlackRock Future Financial and Technology ETF | -10.58% | -11.68% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -7.17% | -2.43% |
Correlation
The correlation between BPAY and FBDC is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.55 |
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Return for Risk
BPAY vs. FBDC — Risk / Return Rank
BPAY
FBDC
BPAY vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and FT Confluence BDC & Specialty Finance Income ETF (FBDC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BPAY | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.96 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | — | — |
| Martin ratioReturn relative to average drawdown | -0.56 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BPAY | FBDC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | -0.56 | +0.64 |
Drawdowns
BPAY vs. FBDC - Drawdown Comparison
The maximum BPAY drawdown since its inception was -33.62%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for BPAY and FBDC.
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Drawdown Indicators
| BPAY | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.62% | -20.60% | -13.02% |
Max Drawdown (1Y)Largest decline over 1 year | -33.62% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -33.62% | — | — |
Current DrawdownCurrent decline from peak | -24.46% | -15.10% | -9.36% |
Average DrawdownAverage peak-to-trough decline | -10.55% | -10.16% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.05% | — | — |
Volatility
BPAY vs. FBDC - Volatility Comparison
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Volatility by Period
| BPAY | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.26% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 18.84% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 26.06% | 18.22% | +7.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.36% | 18.22% | +6.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.36% | 18.22% | +6.14% |
BPAY vs. FBDC - Expense Ratio Comparison
BPAY has a 0.70% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
BPAY vs. FBDC - Dividend Comparison
BPAY's dividend yield for the trailing twelve months is around 7.25%, less than FBDC's 11.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BPAY BlackRock Future Financial and Technology ETF | 7.25% | 6.49% | 0.48% | 1.18% | 0.18% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.23% | 5.41% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BPAY and FBDC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BPAY is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BPAY is cheaper with a 0.70% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 11.23%, compared with 7.25% for BPAY.
They also come from different issuers: BlackRock and First Trust. Their fees differ too: 0.70% for BPAY and 1.35% for FBDC.
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