FBDC vs. BIZD

Last updated Aug 2, 2026

FBDC (FT Confluence BDC & Specialty Finance Income ETF) and BIZD (VanEck BDC Income ETF) are both Financials Equities funds. FBDC is actively managed, while BIZD is passively managed. Over the past year, FBDC returned -10.92% vs -13.09% for BIZD. Their 0.96 correlation means they have historically moved very closely together. FBDC charges 1.35%/yr vs 12.86%/yr for BIZD.

Performance

FBDC vs. BIZD - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FBDC having a -7.31% return and BIZD slightly lower at -7.38%.

FBDC

• 1D: -0.01%
• 1M: -0.49%
• 6M: -6.64%
• YTD: -7.31%
• 1Y: -10.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -9.05%

BIZD

• 1D: -0.16%
• 1M: -0.88%
• 6M: -6.19%
• YTD: -7.38%
• 1Y: -13.09%
• 3Y*: 3.10%
• 5Y*: 4.58%
• 10Y*: 7.22%
• ALL TIME*: 6.12%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BIZD VanEck BDC Income ETF	$36.52M	$40.73M	$41.70M
FBDC FT Confluence BDC & Specialty Finance Income ETF	$213.26K	$189.97K	$198.06K

FBDC vs. BIZD - Yearly Performance Comparison

	2026 (YTD)	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	-7.31%	-2.66%
BIZD VanEck BDC Income ETF	-7.38%	-4.93%

Correlation

The correlation between FBDC and BIZD is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.96

The correlation between FBDC and BIZD has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

FBDC vs. BIZD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

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: 4
FBDC Martin Ratio Rank: 4

BIZD

BIZD Risk / Return Rank: 3
BIZD Sharpe Ratio Rank: 3
BIZD Sortino Ratio Rank: 3
BIZD Omega Ratio Rank: 3
BIZD Calmar Ratio Rank: 3
BIZD Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FBDC vs. BIZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Confluence BDC & Specialty Finance Income ETF (FBDC) and VanEck BDC Income ETF (BIZD). 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.

	FBDC	BIZD	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	-0.76	+0.12
Sortino ratio: Return per unit of downside risk	-0.82	-1.00	+0.18
Omega ratio: Gain probability vs. loss probability	0.91	0.89	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.64	-0.75	+0.11
Martin ratio: Return relative to average drawdown	-1.14	-1.27	+0.13

FBDC vs. BIZD - Sharpe Ratio Comparison

The current FBDC Sharpe Ratio is -0.64, which is comparable to the BIZD Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of FBDC and BIZD, 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

FBDC vs. BIZD - Drawdown Comparison

The maximum FBDC drawdown since its inception was -20.60%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for FBDC and BIZD.

Drawdown Indicators

	FBDC	BIZD	Difference
Max Drawdown Largest peak-to-trough decline	-20.60%	-55.44%	+34.84%
Max Drawdown (1Y) Largest decline over 1 year	-18.08%	-18.99%	+0.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-55.44%	—
Current Drawdown Current decline from peak	-15.23%	-17.85%	+2.62%
Average Drawdown Average peak-to-trough decline	-10.91%	-6.85%	-4.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.12%	11.35%	-1.23%

Volatility

FBDC vs. BIZD - Volatility Comparison

FT Confluence BDC & Specialty Finance Income ETF (FBDC) and VanEck BDC Income ETF (BIZD) have volatilities of 4.72% and 4.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBDC	BIZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	4.68%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	14.60%	15.09%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	18.15%	18.80%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	17.51%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	21.81%	-4.00%

FBDC vs. BIZD - Expense Ratio Comparison

FBDC has a 1.35% expense ratio, which is lower than BIZD's 12.86% expense ratio.

Dividends

FBDC vs. BIZD - Dividend Comparison

FBDC's dividend yield for the trailing twelve months is around 12.36%, which matches BIZD's 12.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIZD VanEck BDC Income ETF	12.29%	11.78%	10.94%	10.96%	11.21%	8.14%	10.39%	9.13%	10.88%	9.13%	8.51%	9.12%
FBDC FT Confluence BDC & Specialty Finance Income ETF	12.36%	5.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBDC and BIZD in my portfolio?

With a correlation of 0.97, FBDC and BIZD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FBDC or BIZD?

FBDC has higher volatility (4.72%) compared to BIZD (4.68%). In terms of maximum drawdown, FBDC dropped -20.60% vs BIZD's -55.44%.

Which ETF is better, FBDC or BIZD?

On 1-year performance, FBDC leads with -10.92% vs -13.09% for BIZD. On fees, FBDC is cheaper at 1.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FBDC or BIZD?

Over the 1-year period, FBDC has performed better with a -10.92% return vs -13.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBDC or BIZD?

FBDC is cheaper with a 1.35% expense ratio, compared with 12.86% for BIZD.

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

FBDC has the higher dividend yield at 12.36%, compared with 12.29% for BIZD.

What is the main difference between FBDC and BIZD?

They also come from different issuers: First Trust and VanEck. Their fees differ too: 1.35% for FBDC and 12.86% for BIZD.

Which has better risk-adjusted returns?

FBDC currently has the higher Sharpe Ratio (-0.64 vs -0.76), 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.