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FBDC vs. FXO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

FBDC vs. FXO - Performance Comparison

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

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Returns By Period

In the year-to-date period, FBDC achieves a -10.66% return, which is significantly lower than FXO's 2.70% return.


FBDC

1D
-1.16%
1M
-1.54%
YTD
-10.66%
6M
-9.44%
1Y
3Y*
5Y*
10Y*

FXO

1D
0.72%
1M
3.42%
YTD
2.70%
6M
0.52%
1Y
16.26%
3Y*
21.78%
5Y*
9.95%
10Y*
13.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FBDC vs. FXO - Yearly Performance Comparison


Correlation

The correlation between FBDC and FXO is 0.56, 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 Jun 30, 2025

0.56

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Return for Risk

FBDC vs. FXO — Risk / Return Rank

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

FBDC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.


FXO
FXO Risk / Return Rank: 2929
Overall Rank
FXO Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
FXO Sortino Ratio Rank: 2828
Sortino Ratio Rank
FXO Omega Ratio Rank: 2727
Omega Ratio Rank
FXO Calmar Ratio Rank: 2929
Calmar Ratio Rank
FXO Martin Ratio Rank: 3030
Martin Ratio Rank
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.

FBDC vs. FXO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Confluence BDC & Specialty Finance Income ETF (FBDC) and First Trust Financials AlphaDEX Fund (FXO). 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.


FBDCFXODifference
Sharpe ratioReturn per unit of total volatility

Sortino ratioReturn per unit of downside risk

Omega ratioGain probability vs. loss probability

1.18

Calmar ratioReturn relative to maximum drawdown

1.39

Martin ratioReturn relative to average drawdown

4.15

FBDC vs. FXO - Sharpe Ratio Comparison


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Drawdowns

FBDC vs. FXO - Drawdown Comparison

The maximum FBDC drawdown since its inception was -20.60%, smaller than the maximum FXO drawdown of -71.30%. Use the drawdown chart below to compare losses from any high point for FBDC and FXO.


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Drawdown Indicators


FBDCFXODifference

Max Drawdown

Largest peak-to-trough decline

-20.60%

-71.30%

+50.70%

Max Drawdown (1Y)

Largest decline over 1 year

-11.72%

Max Drawdown (3Y)

Largest decline over 3 years

-21.35%

Max Drawdown (5Y)

Largest decline over 5 years

-28.80%

Max Drawdown (10Y)

Largest decline over 10 years

-48.55%

Current Drawdown

Current decline from peak

-18.29%

-0.37%

-17.92%

Average Drawdown

Average peak-to-trough decline

-10.41%

-13.08%

+2.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.93%

Volatility

FBDC vs. FXO - Volatility Comparison


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Volatility by Period


FBDCFXODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.92%

Volatility (6M)

Calculated over the trailing 6-month period

10.98%

Volatility (1Y)

Calculated over the trailing 1-year period

18.03%

15.66%

+2.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.03%

21.86%

-3.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.03%

24.14%

-6.11%

FBDC vs. FXO - Expense Ratio Comparison

FBDC has a 1.35% expense ratio, which is higher than FXO's 0.62% expense ratio.


Dividends

FBDC vs. FXO - Dividend Comparison

FBDC's dividend yield for the trailing twelve months is around 11.67%, more than FXO's 2.10% yield.


PositionTTM20252024202320222021202020192018201720162015
FBDC
FT Confluence BDC & Specialty Finance Income ETF
11.67%5.41%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
FXO
First Trust Financials AlphaDEX Fund
2.10%1.78%1.97%2.98%2.49%1.91%2.60%1.72%2.60%1.62%1.35%1.51%

Frequently Asked Questions


FBDC and FXO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FXO is cheaper at 0.62% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FXO is cheaper with a 0.62% expense ratio, compared with 1.35% for FBDC.

FBDC has the higher dividend yield at 11.67%, compared with 2.10% for FXO.

Their fees differ too: 1.35% for FBDC and 0.62% for FXO.

Portfolio Optimizer

Find the right allocation for FBDC and FXO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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