FBDC vs. KIE

Last updated Apr 1, 2026

Compare and contrast key facts about FT Confluence BDC & Specialty Finance Income ETF (FBDC) and SPDR S&P Insurance ETF (KIE).

FBDC and KIE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FBDC is an actively managed fund by First Trust. It was launched on Jun 30, 2025. KIE is a passively managed fund by State Street that tracks the performance of the S&P Insurance Select Industry Index. It was launched on Nov 8, 2005.

Performance

FBDC vs. KIE - Performance Comparison

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

FBDC vs. KIE - Yearly Performance Comparison

	2026 (YTD)	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	-9.87%	-2.43%
KIE SPDR S&P Insurance ETF	-8.59%	1.50%

Returns By Period

In the year-to-date period, FBDC achieves a -9.87% return, which is significantly lower than KIE's -8.59% return.

FBDC

• 1D: 2.30%
• 1M: 2.24%
• YTD: -9.87%
• 6M: -9.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KIE

• 1D: -0.55%
• 1M: -6.30%
• YTD: -8.59%
• 6M: -5.99%
• 1Y: -8.45%
• 3Y*: 13.43%
• 5Y*: 9.99%
• 10Y*: 10.89%

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

FBDC vs. KIE - Expense Ratio Comparison

FBDC has a 13.69% expense ratio, which is higher than KIE's 0.35% expense ratio.

FBDC

FT Confluence BDC & Specialty Finance Income ETF

KIE

SPDR S&P Insurance ETF

Return for Risk

FBDC vs. KIE — Risk / Return Rank

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

KIE

KIE Risk / Return Rank: 3
KIE Sharpe Ratio Rank: 5
KIE Sortino Ratio Rank: 4
KIE Omega Ratio Rank: 4
KIE Calmar Ratio Rank: 2
KIE Martin Ratio Rank: 1

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. KIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Confluence BDC & Specialty Finance Income ETF (FBDC) and SPDR S&P Insurance ETF (KIE). 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.

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

Sharpe Ratios by Period

	FBDC	KIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.43	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.91	0.29	-1.20

Correlation

The correlation between FBDC and KIE is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FBDC vs. KIE - Dividend Comparison

FBDC's dividend yield for the trailing twelve months is around 9.28%, more than KIE's 1.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBDC FT Confluence BDC & Specialty Finance Income ETF	9.28%	5.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KIE SPDR S&P Insurance ETF	1.69%	1.57%	1.48%	1.45%	1.90%	1.95%	1.85%	1.76%	1.83%	1.56%	1.55%	1.65%

Drawdowns

FBDC vs. KIE - Drawdown Comparison

The maximum FBDC drawdown since its inception was -20.60%, smaller than the maximum KIE drawdown of -75.30%. Use the drawdown chart below to compare losses from any high point for FBDC and KIE.

Drawdown Indicators

	FBDC	KIE	Difference
Max Drawdown Largest peak-to-trough decline	-20.60%	-75.30%	+54.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.31%	—
Current Drawdown Current decline from peak	-17.57%	-9.91%	-7.66%
Average Drawdown Average peak-to-trough decline	-9.11%	-12.09%	+2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.26%	—

Volatility

Volatility by Period

	FBDC	KIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.36%	19.77%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	18.30%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	21.14%	-3.78%