BSCT vs. FBDC

Last updated Jul 17, 2026

BSCT (Invesco BulletShares 2029 Corporate Bond ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both exchange-traded funds - BSCT is a Corporate Bonds fund tracking the NASDAQ BulletShares USD Corporate Bond 2029 Index, while FBDC is a Financials Equities fund actively managed by First Trust. BSCT is passively managed, while FBDC is actively managed. Over the past year, BSCT returned 4.24% vs -11.30% for FBDC. At a 0.19 correlation, their price movements are largely independent. BSCT charges 0.10%/yr vs 1.35%/yr for FBDC.

Performance

BSCT vs. FBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2029 Corporate Bond ETF (BSCT) and FT Confluence BDC & Specialty Finance Income ETF (FBDC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSCT achieves a 0.89% return, which is significantly higher than FBDC's -4.10% return.

BSCT

• 1D: -0.03%
• 1M: 0.08%
• 6M: 0.81%
• YTD: 0.89%
• 1Y: 4.24%
• 3Y*: 5.54%
• 5Y*: 0.92%
• 10Y*: —

FBDC

• 1D: 1.74%
• 1M: 4.48%
• 6M: -6.58%
• YTD: -4.10%
• 1Y: -11.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSCT vs. FBDC - Yearly Performance Comparison

	2026 (YTD)	2025
BSCT Invesco BulletShares 2029 Corporate Bond ETF	0.89%	3.20%
FBDC FT Confluence BDC & Specialty Finance Income ETF	-4.10%	-2.66%

Correlation

The correlation between BSCT and FBDC is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.19

Return for Risk

BSCT vs. FBDC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSCT

BSCT Risk / Return Rank: 73
BSCT Sharpe Ratio Rank: 74
BSCT Sortino Ratio Rank: 80
BSCT Omega Ratio Rank: 78
BSCT Calmar Ratio Rank: 65
BSCT Martin Ratio Rank: 66

FBDC

FBDC Risk / Return Rank: 4
FBDC Sharpe Ratio Rank: 4
FBDC Sortino Ratio Rank: 4
FBDC Omega Ratio Rank: 4
FBDC Calmar Ratio Rank: 5
FBDC Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSCT vs. FBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2029 Corporate Bond ETF (BSCT) 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.

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.

	BSCT	FBDC	Difference
Sharpe ratio: Return per unit of total volatility	1.88	-0.63	+2.51
Sortino ratio: Return per unit of downside risk	2.84	-0.80	+3.65
Omega ratio: Gain probability vs. loss probability	1.36	0.91	+0.45
Calmar ratio: Return relative to maximum drawdown	2.62	-0.55	+3.17
Martin ratio: Return relative to average drawdown	9.40	-0.93	+10.33

BSCT vs. FBDC - Sharpe Ratio Comparison

The current BSCT Sharpe Ratio is 1.88, which is higher than the FBDC Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of BSCT and FBDC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BSCT vs. FBDC - Drawdown Comparison

The maximum BSCT drawdown since its inception was -19.14%, smaller than the maximum FBDC drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for BSCT and FBDC.

Drawdown Indicators

	BSCT	FBDC	Difference
Max Drawdown Largest peak-to-trough decline	-19.14%	-20.60%	+1.46%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	-20.60%	+18.97%
Max Drawdown (3Y) Largest decline over 3 years	-4.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.14%	—	—
Current Drawdown Current decline from peak	-0.21%	-12.29%	+12.08%
Average Drawdown Average peak-to-trough decline	-5.28%	-10.74%	+5.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	12.23%	-11.78%

Volatility

BSCT vs. FBDC - Volatility Comparison

The current volatility for Invesco BulletShares 2029 Corporate Bond ETF (BSCT) is 0.71%, while FT Confluence BDC & Specialty Finance Income ETF (FBDC) has a volatility of 4.45%. This indicates that BSCT experiences smaller price fluctuations and is considered to be less risky than FBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSCT	FBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	4.45%	-3.74%
Volatility (6M) Calculated over the trailing 6-month period	1.70%	14.59%	-12.89%
Volatility (1Y) Calculated over the trailing 1-year period	2.27%	18.06%	-15.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.69%	17.86%	-12.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.21%	17.86%	-10.65%

BSCT vs. FBDC - Expense Ratio Comparison

BSCT has a 0.10% expense ratio, which is lower than FBDC's 1.35% expense ratio.

Dividends

BSCT vs. FBDC - Dividend Comparison

BSCT's dividend yield for the trailing twelve months is around 4.57%, less than FBDC's 11.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSCT Invesco BulletShares 2029 Corporate Bond ETF	4.57%	4.53%	4.51%	3.89%	2.65%	1.94%	2.24%	0.86%
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.99%	5.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSCT and FBDC in my portfolio?

BSCT and FBDC have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSCT or FBDC?

FBDC has higher volatility (4.45%) compared to BSCT (0.71%). In terms of maximum drawdown, BSCT dropped -19.14% vs FBDC's -20.60%.

Which ETF is better, BSCT or FBDC?

On 1-year performance, BSCT leads with 4.24% vs -11.30% for FBDC. On fees, BSCT is cheaper at 0.10% per year. On volatility, BSCT has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSCT or FBDC?

Over the 1-year period, BSCT has performed better with a 4.24% return vs -11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSCT or FBDC?

BSCT is cheaper with a 0.10% expense ratio, compared with 1.35% for FBDC.

Which ETF pays a higher dividend yield, BSCT or FBDC?

FBDC has the higher dividend yield at 11.99%, compared with 4.57% for BSCT.

What is the main difference between BSCT and FBDC?

BSCT is categorized as Corporate Bonds, while FBDC is Financials Equities. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.10% for BSCT and 1.35% for FBDC.

Which has better risk-adjusted returns?

BSCT currently has the higher Sharpe Ratio (1.88 vs -0.63), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.