FBDC vs. XLFI

Last updated Jul 17, 2026

FBDC (FT Confluence BDC & Specialty Finance Income ETF) and XLFI (State Street Financial Select Sector SPDR Premium Income ETF) are both exchange-traded funds - FBDC is a Financials Equities fund actively managed by First Trust, while XLFI is a Derivative Income fund actively managed by State Street. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. FBDC charges 1.35%/yr vs 0.35%/yr for XLFI.

Performance

FBDC vs. XLFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Confluence BDC & Specialty Finance Income ETF (FBDC) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). 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 XLFI's 2.85% return.

FBDC

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

XLFI

• 1D: 0.37%
• 1M: 3.86%
• 6M: 3.40%
• YTD: 2.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBDC vs. XLFI - Yearly Performance Comparison

	2026 (YTD)	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	-4.10%	-5.69%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	2.85%	5.40%

Correlation

The correlation between FBDC and XLFI is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.48

Return for Risk

FBDC vs. XLFI — 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

XLFI

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

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. XLFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Confluence BDC & Specialty Finance Income ETF (FBDC) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). 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	XLFI	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	—	—
Sortino ratio: Return per unit of downside risk	-0.80	—	—
Omega ratio: Gain probability vs. loss probability	0.91	—	—
Calmar ratio: Return relative to maximum drawdown	-0.55	—	—
Martin ratio: Return relative to average drawdown	-0.93	—	—

Drawdowns

FBDC vs. XLFI - Drawdown Comparison

The maximum FBDC drawdown since its inception was -20.60%, which is greater than XLFI's maximum drawdown of -11.89%. Use the drawdown chart below to compare losses from any high point for FBDC and XLFI.

Drawdown Indicators

	FBDC	XLFI	Difference
Max Drawdown Largest peak-to-trough decline	-20.60%	-11.89%	-8.71%
Max Drawdown (1Y) Largest decline over 1 year	-20.60%	—	—
Current Drawdown Current decline from peak	-12.29%	0.00%	-12.29%
Average Drawdown Average peak-to-trough decline	-10.74%	-3.13%	-7.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.23%	—	—

Volatility

Volatility by Period

	FBDC	XLFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.59%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.06%	11.96%	+6.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.86%	11.96%	+5.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.86%	11.96%	+5.90%

FBDC vs. XLFI - Expense Ratio Comparison

FBDC has a 1.35% expense ratio, which is higher than XLFI's 0.35% expense ratio.

Dividends

FBDC vs. XLFI - Dividend Comparison

FBDC's dividend yield for the trailing twelve months is around 11.99%, more than XLFI's 11.32% yield.

Position	TTM	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.99%	5.41%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	11.32%	5.57%

Frequently Asked Questions

Can I hold both FBDC and XLFI in my portfolio?

FBDC and XLFI have a correlation of 0.48, 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 XLFI?

On fees, XLFI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBDC or XLFI?

XLFI is cheaper with a 0.35% expense ratio, compared with 1.35% for FBDC.

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

FBDC has the higher dividend yield at 11.99%, compared with 11.32% for XLFI.

What is the main difference between FBDC and XLFI?

FBDC is categorized as Financials Equities, while XLFI is Derivative Income. They also come from different issuers: First Trust and State Street. Their fees differ too: 1.35% for FBDC and 0.35% for XLFI.