IAT vs. FBDC
IAT (iShares U.S. Regional Banks ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. IAT is passively managed, while FBDC is actively managed. At a 0.46 correlation, their price movements are largely independent. IAT charges 0.42%/yr vs 1.35%/yr for FBDC.
Performance
IAT vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, IAT achieves a 2.80% return, which is significantly higher than FBDC's -9.51% return.
IAT
- 1D
- -1.71%
- 1M
- -1.74%
- YTD
- 2.80%
- 6M
- 7.09%
- 1Y
- 22.99%
- 3Y*
- 22.20%
- 5Y*
- 1.35%
- 10Y*
- 7.95%
FBDC
- 1D
- -2.98%
- 1M
- -7.81%
- YTD
- -9.51%
- 6M
- -10.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAT vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IAT iShares U.S. Regional Banks ETF | 2.80% | 13.31% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -9.51% | -2.43% |
Correlation
The correlation between IAT and FBDC is 0.46, 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 1, 2025 | 0.46 |
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Return for Risk
IAT vs. FBDC — Risk / Return Rank
IAT
FBDC
IAT vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Regional Banks ETF (IAT) 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.
| IAT | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.20 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | — | — |
| Martin ratioReturn relative to average drawdown | 3.38 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAT | FBDC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | -0.70 | +0.79 |
Drawdowns
IAT vs. FBDC - Drawdown Comparison
The maximum IAT drawdown since its inception was -77.22%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for IAT and FBDC.
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Drawdown Indicators
| IAT | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.22% | -20.60% | -56.62% |
Max Drawdown (1Y)Largest decline over 1 year | -17.49% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -29.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -55.55% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -55.55% | — | — |
Current DrawdownCurrent decline from peak | -9.75% | -17.24% | +7.49% |
Average DrawdownAverage peak-to-trough decline | -26.97% | -10.14% | -16.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.81% | — | — |
Volatility
IAT vs. FBDC - Volatility Comparison
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Volatility by Period
| IAT | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.12% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 15.74% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 21.86% | 18.06% | +3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.03% | 18.06% | +10.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.78% | 18.06% | +12.72% |
IAT vs. FBDC - Expense Ratio Comparison
IAT has a 0.42% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
IAT vs. FBDC - Dividend Comparison
IAT's dividend yield for the trailing twelve months is around 2.88%, less than FBDC's 11.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.52% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IAT iShares U.S. Regional Banks ETF | 2.88% | 2.94% | 2.95% | 3.56% | 3.12% | 1.88% | 2.87% | 2.49% | 2.48% | 1.55% | 1.52% | 1.78% |
Frequently Asked Questions
IAT and FBDC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAT is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAT is cheaper with a 0.42% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 11.52%, compared with 2.88% for IAT.
They also come from different issuers: iShares and First Trust. Their fees differ too: 0.42% for IAT and 1.35% for FBDC.
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