FBDC vs. TFNS

Last updated Jun 5, 2026

FBDC (FT Confluence BDC & Specialty Finance Income ETF) and TFNS (T. Rowe Price Financials ETF) are both Financials Equities funds. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. FBDC charges 1.35%/yr vs 0.44%/yr for TFNS.

Performance

FBDC vs. TFNS - Performance Comparison

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

Returns By Period

In the year-to-date period, FBDC achieves a -7.17% return, which is significantly lower than TFNS's -3.01% return.

FBDC

• 1D: 2.59%
• 1M: -5.28%
• YTD: -7.17%
• 6M: -8.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TFNS

• 1D: 2.48%
• 1M: 1.06%
• YTD: -3.01%
• 6M: 0.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBDC vs. TFNS - Yearly Performance Comparison

	2026 (YTD)	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	-7.17%	-2.43%
TFNS T. Rowe Price Financials ETF	-3.01%	7.51%

Correlation

The correlation between FBDC and TFNS is 0.51, 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 Jul 1, 2025	0.51

Return for Risk

FBDC vs. TFNS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Confluence BDC & Specialty Finance Income ETF (FBDC) and T. Rowe Price Financials ETF (TFNS). 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	TFNS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.56	0.48	-1.04

Drawdowns

FBDC vs. TFNS - Drawdown Comparison

The maximum FBDC drawdown since its inception was -20.60%, which is greater than TFNS's maximum drawdown of -14.00%. Use the drawdown chart below to compare losses from any high point for FBDC and TFNS.

Drawdown Indicators

	FBDC	TFNS	Difference
Max Drawdown Largest peak-to-trough decline	-20.60%	-14.00%	-6.60%
Current Drawdown Current decline from peak	-15.10%	-5.72%	-9.38%
Average Drawdown Average peak-to-trough decline	-10.16%	-3.83%	-6.33%

Volatility

Volatility by Period

	FBDC	TFNS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	18.22%	15.22%	+3.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	15.22%	+3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.22%	15.22%	+3.00%

FBDC vs. TFNS - Expense Ratio Comparison

FBDC has a 1.35% expense ratio, which is higher than TFNS's 0.44% expense ratio.

Dividends

FBDC vs. TFNS - Dividend Comparison

FBDC's dividend yield for the trailing twelve months is around 11.23%, more than TFNS's 0.51% yield.

Position	TTM	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.23%	5.41%
TFNS T. Rowe Price Financials ETF	0.51%	0.49%

Frequently Asked Questions

Can I hold both FBDC and TFNS in my portfolio?

FBDC and TFNS 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.

Which ETF is better, FBDC or TFNS?

On fees, TFNS is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBDC or TFNS?

TFNS is cheaper with a 0.44% expense ratio, compared with 1.35% for FBDC.

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

FBDC has the higher dividend yield at 11.23%, compared with 0.51% for TFNS.

What is the main difference between FBDC and TFNS?

They also come from different issuers: First Trust and T. Rowe Price. Their fees differ too: 1.35% for FBDC and 0.44% for TFNS.