FBDC vs. GRID

Last updated Jul 17, 2026

FBDC (FT Confluence BDC & Specialty Finance Income ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - FBDC is a Financials Equities fund actively managed by First Trust, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. FBDC is actively managed, while GRID is passively managed. Over the past year, FBDC returned -11.30% vs 28.47% for GRID. At a 0.23 correlation, their price movements are largely independent. FBDC charges 1.35%/yr vs 0.70%/yr for GRID.

Performance

FBDC vs. GRID - 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 NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBDC achieves a -4.10% return, which is significantly lower than GRID's 16.65% return.

FBDC

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

GRID

• 1D: -2.72%
• 1M: -7.15%
• 6M: 13.35%
• YTD: 16.65%
• 1Y: 28.47%
• 3Y*: 19.44%
• 5Y*: 15.52%
• 10Y*: 18.37%

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

FBDC vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	-4.10%	-2.66%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	16.65%	10.90%

Correlation

The correlation between FBDC and GRID is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.23

Return for Risk

FBDC vs. GRID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 5
FBDC Martin Ratio Rank: 5

GRID

GRID Risk / Return Rank: 49
GRID Sharpe Ratio Rank: 44
GRID Sortino Ratio Rank: 41
GRID Omega Ratio Rank: 42
GRID Calmar Ratio Rank: 60
GRID Martin Ratio Rank: 55

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. GRID - 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 NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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	GRID	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	1.29	-1.92
Sortino ratio: Return per unit of downside risk	-0.80	1.79	-2.59
Omega ratio: Gain probability vs. loss probability	0.91	1.23	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.55	2.44	-2.99
Martin ratio: Return relative to average drawdown	-0.93	7.60	-8.52

FBDC vs. GRID - Sharpe Ratio Comparison

The current FBDC Sharpe Ratio is -0.63, which is lower than the GRID Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of FBDC and GRID, 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. GRID - Drawdown Comparison

The maximum FBDC drawdown since its inception was -20.60%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for FBDC and GRID.

Drawdown Indicators

	FBDC	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-20.60%	-40.56%	+19.96%
Max Drawdown (1Y) Largest decline over 1 year	-20.60%	-11.73%	-8.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.56%	—
Current Drawdown Current decline from peak	-12.29%	-10.72%	-1.57%
Average Drawdown Average peak-to-trough decline	-10.74%	-8.41%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.23%	3.76%	+8.47%

Volatility

FBDC vs. GRID - Volatility Comparison

The current volatility for FT Confluence BDC & Specialty Finance Income ETF (FBDC) is 4.45%, while First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a volatility of 8.76%. This indicates that FBDC experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBDC	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	8.76%	-4.31%
Volatility (6M) Calculated over the trailing 6-month period	14.59%	19.36%	-4.77%
Volatility (1Y) Calculated over the trailing 1-year period	18.06%	22.18%	-4.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.86%	21.54%	-3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.86%	22.71%	-4.85%

FBDC vs. GRID - Expense Ratio Comparison

FBDC has a 1.35% expense ratio, which is higher than GRID's 0.70% expense ratio.

Dividends

FBDC vs. GRID - Dividend Comparison

FBDC's dividend yield for the trailing twelve months is around 11.99%, more than GRID's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.99%	5.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.80%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%

Frequently Asked Questions

Can I hold both FBDC and GRID in my portfolio?

FBDC and GRID have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBDC or GRID?

GRID has higher volatility (8.76%) compared to FBDC (4.45%). In terms of maximum drawdown, FBDC dropped -20.60% vs GRID's -40.56%.

Which ETF is better, FBDC or GRID?

On 1-year performance, GRID leads with 28.47% vs -11.30% for FBDC. On fees, GRID is cheaper at 0.70% per year. On volatility, FBDC has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FBDC or GRID?

Over the 1-year period, GRID has performed better with a 28.47% return vs -11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBDC or GRID?

GRID is cheaper with a 0.70% expense ratio, compared with 1.35% for FBDC.

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

FBDC has the higher dividend yield at 11.99%, compared with 0.80% for GRID.

What is the main difference between FBDC and GRID?

FBDC is categorized as Financials Equities, while GRID is Alternative Energy Equities. Their fees differ too: 1.35% for FBDC and 0.70% for GRID.

Which has better risk-adjusted returns?

GRID currently has the higher Sharpe Ratio (1.29 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.