FDFF vs. FBDC

Last updated Jun 4, 2026

FDFF (Fidelity Disruptive Finance ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. FDFF charges 0.50%/yr vs 1.35%/yr for FBDC.

Performance

FDFF vs. FBDC - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FDFF having a -9.77% return and FBDC slightly higher at -9.51%.

FDFF

• 1D: -2.74%
• 1M: -4.96%
• YTD: -9.77%
• 6M: -7.73%
• 1Y: -13.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBDC

• 1D: -2.98%
• 1M: -7.81%
• YTD: -9.51%
• 6M: -10.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDFF vs. FBDC - Yearly Performance Comparison

	2026 (YTD)	2025
FDFF Fidelity Disruptive Finance ETF	-9.77%	-6.52%
FBDC FT Confluence BDC & Specialty Finance Income ETF	-9.51%	-2.43%

Correlation

The correlation between FDFF and FBDC is 0.58, 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	0.58

Return for Risk

FDFF vs. FBDC — Risk / Return Rank

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

FDFF

FDFF Risk / Return Rank: 3
FDFF Sharpe Ratio Rank: 3
FDFF Sortino Ratio Rank: 3
FDFF Omega Ratio Rank: 3
FDFF Calmar Ratio Rank: 4
FDFF Martin Ratio Rank: 3

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.

FDFF vs. FBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Finance ETF (FDFF) and FT Confluence BDC & Specialty Finance Income ETF (FBDC). 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.

	FDFF	FBDC	Difference
Sharpe ratio: Return per unit of total volatility	-0.73	—	—
Sortino ratio: Return per unit of downside risk	-0.92	—	—
Omega ratio: Gain probability vs. loss probability	0.89	—	—
Calmar ratio: Return relative to maximum drawdown	-0.60	—	—
Martin ratio: Return relative to average drawdown	-1.23	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FDFF	FBDC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	-0.70	+1.19

Drawdowns

FDFF vs. FBDC - Drawdown Comparison

The maximum FDFF drawdown since its inception was -23.06%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for FDFF and FBDC.

Drawdown Indicators

	FDFF	FBDC	Difference
Max Drawdown Largest peak-to-trough decline	-23.06%	-20.60%	-2.46%
Max Drawdown (1Y) Largest decline over 1 year	-22.31%	—	—
Current Drawdown Current decline from peak	-18.05%	-17.24%	-0.81%
Average Drawdown Average peak-to-trough decline	-6.32%	-10.14%	+3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.82%	—	—

Volatility

Volatility by Period

	FDFF	FBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.21%	18.06%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	18.06%	+0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	18.06%	+0.96%

FDFF vs. FBDC - Expense Ratio Comparison

FDFF has a 0.50% expense ratio, which is lower than FBDC's 1.35% expense ratio.

Dividends

FDFF vs. FBDC - Dividend Comparison

FDFF's dividend yield for the trailing twelve months is around 1.01%, less than FBDC's 11.52% yield.

Position	TTM	2025	2024	2023
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.52%	5.41%	0.00%	0.00%
FDFF Fidelity Disruptive Finance ETF	1.01%	0.86%	0.70%	0.27%

Frequently Asked Questions

Can I hold both FDFF and FBDC in my portfolio?

FDFF and FBDC have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FDFF or FBDC?

On fees, FDFF is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FDFF or FBDC?

FDFF is cheaper with a 0.50% expense ratio, compared with 1.35% for FBDC.

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

FBDC has the higher dividend yield at 11.52%, compared with 1.01% for FDFF.

What is the main difference between FDFF and FBDC?

They also come from different issuers: Fidelity and First Trust. Their fees differ too: 0.50% for FDFF and 1.35% for FBDC.