GPZ vs. FBDC

Last updated Jun 4, 2026

GPZ (VanEck Alternative Asset Manager ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. GPZ is passively managed, while FBDC is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. GPZ charges 0.40%/yr vs 1.35%/yr for FBDC.

Performance

GPZ vs. FBDC - Performance Comparison

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

Returns By Period

In the year-to-date period, GPZ achieves a -19.37% return, which is significantly lower than FBDC's -9.51% return.

GPZ

• 1D: -4.70%
• 1M: -6.69%
• YTD: -19.37%
• 6M: -16.71%
• 1Y: —
• 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)

GPZ vs. FBDC - Yearly Performance Comparison

	2026 (YTD)	2025
GPZ VanEck Alternative Asset Manager ETF	-19.37%	3.58%
FBDC FT Confluence BDC & Specialty Finance Income ETF	-9.51%	-2.43%

Correlation

The correlation between GPZ and FBDC is 0.65, 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	0.65

Return for Risk

GPZ vs. FBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Alternative Asset Manager ETF (GPZ) 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.

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

Sharpe Ratios by Period

	GPZ	FBDC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	-0.70	+0.26

Drawdowns

GPZ vs. FBDC - Drawdown Comparison

The maximum GPZ drawdown since its inception was -31.72%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for GPZ and FBDC.

Drawdown Indicators

	GPZ	FBDC	Difference
Max Drawdown Largest peak-to-trough decline	-31.72%	-20.60%	-11.12%
Current Drawdown Current decline from peak	-25.93%	-17.24%	-8.69%
Average Drawdown Average peak-to-trough decline	-11.74%	-10.14%	-1.60%

Volatility

Volatility by Period

	GPZ	FBDC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	27.33%	18.06%	+9.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.33%	18.06%	+9.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.33%	18.06%	+9.27%

GPZ vs. FBDC - Expense Ratio Comparison

GPZ has a 0.40% expense ratio, which is lower than FBDC's 1.35% expense ratio.

Dividends

GPZ vs. FBDC - Dividend Comparison

GPZ's dividend yield for the trailing twelve months is around 1.03%, less than FBDC's 11.52% yield.

Position	TTM	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.52%	5.41%
GPZ VanEck Alternative Asset Manager ETF	1.03%	0.83%

Frequently Asked Questions

Can I hold both GPZ and FBDC in my portfolio?

GPZ and FBDC have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GPZ or FBDC?

On fees, GPZ is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GPZ or FBDC?

GPZ is cheaper with a 0.40% expense ratio, compared with 1.35% for FBDC.

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

FBDC has the higher dividend yield at 11.52%, compared with 1.03% for GPZ.

What is the main difference between GPZ and FBDC?

They also come from different issuers: VanEck and First Trust. Their fees differ too: 0.40% for GPZ and 1.35% for FBDC.