FBDC vs. IYF
FBDC (FT Confluence BDC & Specialty Finance Income ETF) and IYF (iShares U.S. Financials ETF) are both Financials Equities funds. FBDC is actively managed, while IYF is passively managed. Over the past year, FBDC returned -10.92% vs 14.06% for IYF. Their 0.50 correlation means they have sometimes moved together and sometimes differently. FBDC charges 1.35%/yr vs 0.38%/yr for IYF.
Performance
FBDC vs. IYF - Performance Comparison
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Returns By Period
In the year-to-date period, FBDC achieves a -7.31% return, which is significantly lower than IYF's 5.27% return.
FBDC
- 1D
- -0.01%
- 1M
- -0.49%
- 6M
- -6.64%
- YTD
- -7.31%
- 1Y
- -10.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -9.05%
IYF
- 1D
- -0.09%
- 1M
- 2.09%
- 6M
- 6.28%
- YTD
- 5.27%
- 1Y
- 14.06%
- 3Y*
- 21.23%
- 5Y*
- 12.16%
- 10Y*
- 13.70%
- ALL TIME*
- 6.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $213.26K | $189.97K | $198.06K | |
| $64.39M | $58.62M | $40.71M |
FBDC vs. IYF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | -7.31% | -2.66% |
IYF iShares U.S. Financials ETF | 5.27% | 8.26% |
Correlation
The correlation between FBDC and IYF is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.50 |
The correlation between FBDC and IYF has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.
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Return for Risk
FBDC vs. IYF — Risk / Return Rank
FBDC
IYF
FBDC vs. IYF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Confluence BDC & Specialty Finance Income ETF (FBDC) and iShares U.S. Financials ETF (IYF). 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 | IYF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.15 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 0.86 | -1.51 |
| Martin ratioReturn relative to average drawdown | -1.14 | 2.33 | -3.47 |
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Drawdowns
FBDC vs. IYF - Drawdown Comparison
The maximum FBDC drawdown since its inception was -20.60%, smaller than the maximum IYF drawdown of -79.09%. Use the drawdown chart below to compare losses from any high point for FBDC and IYF.
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Drawdown Indicators
| FBDC | IYF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.60% | -79.09% | +58.49% |
Max Drawdown (1Y)Largest decline over 1 year | -18.08% | -13.88% | -4.20% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.60% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.06% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.57% | — |
Current DrawdownCurrent decline from peak | -15.23% | -1.51% | -13.72% |
Average DrawdownAverage peak-to-trough decline | -10.91% | -17.51% | +6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.12% | 5.14% | +4.98% |
Volatility
FBDC vs. IYF - Volatility Comparison
FT Confluence BDC & Specialty Finance Income ETF (FBDC) has a higher volatility of 4.72% compared to iShares U.S. Financials ETF (IYF) at 3.97%. This indicates that FBDC's price experiences larger fluctuations and is considered to be riskier than IYF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBDC | IYF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 3.97% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 14.60% | 11.05% | +3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.15% | 14.67% | +3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.81% | 18.94% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 20.82% | -3.01% |
FBDC vs. IYF - Expense Ratio Comparison
FBDC has a 1.35% expense ratio, which is higher than IYF's 0.38% expense ratio.
Dividends
FBDC vs. IYF - Dividend Comparison
FBDC's dividend yield for the trailing twelve months is around 12.36%, more than IYF's 1.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IYF iShares U.S. Financials ETF | 1.42% | 1.32% | 1.29% | 1.67% | 1.86% | 1.27% | 1.72% | 1.64% | 1.90% | 1.46% | 1.67% | 1.66% |
Frequently Asked Questions
FBDC and IYF have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBDC has higher volatility (4.72%) compared to IYF (3.97%). In terms of maximum drawdown, FBDC dropped -20.60% vs IYF's -79.09%.
On 1-year performance, IYF leads with 14.06% vs -10.92% for FBDC. On fees, IYF is cheaper at 0.38% per year. On volatility, IYF has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYF has performed better with a 14.06% return vs -10.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYF is cheaper with a 0.38% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 12.36%, compared with 1.42% for IYF.
They also come from different issuers: First Trust and iShares. Their fees differ too: 1.35% for FBDC and 0.38% for IYF.
IYF currently has the higher Sharpe Ratio (0.82 vs -0.64), 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.
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