IBMQ vs. FBDC
IBMQ (iShares iBonds Dec 2028 Term Muni Bond ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both exchange-traded funds - IBMQ is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index, while FBDC is a Financials Equities fund actively managed by First Trust. IBMQ is passively managed, while FBDC is actively managed. Over the past year, IBMQ returned 2.02% vs -10.92% for FBDC. Their 0.13 correlation means their historical movements had little consistent relationship. IBMQ charges 0.18%/yr vs 1.35%/yr for FBDC.
Performance
IBMQ vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, IBMQ achieves a 0.90% return, which is significantly higher than FBDC's -7.31% return.
IBMQ
- 1D
- 0.04%
- 1M
- -0.16%
- 6M
- 0.41%
- YTD
- 0.90%
- 1Y
- 2.02%
- 3Y*
- 2.88%
- 5Y*
- 0.35%
- 10Y*
- —
- ALL TIME*
- 1.95%
FBDC
- 1D
- -0.01%
- 1M
- -0.49%
- 6M
- -6.64%
- YTD
- -7.31%
- 1Y
- -10.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -9.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $213.26K | $189.97K | $198.06K | |
| $1.97M | $1.98M | $1.89M |
IBMQ vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF | 0.90% | 2.13% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -7.31% | -2.66% |
Correlation
The correlation between IBMQ and FBDC is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.13 |
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Return for Risk
IBMQ vs. FBDC — Risk / Return Rank
IBMQ
FBDC
IBMQ vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) 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.
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.
| IBMQ | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.59 | ||
| Sortino ratioReturn per unit of downside risk | +3.66 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.91 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | -0.64 | +2.74 |
| Martin ratioReturn relative to average drawdown | 5.46 | -1.14 | +6.60 |
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Drawdowns
IBMQ vs. FBDC - Drawdown Comparison
The maximum IBMQ drawdown since its inception was -15.85%, smaller than the maximum FBDC drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for IBMQ and FBDC.
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Drawdown Indicators
| IBMQ | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -20.60% | +4.75% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -18.08% | +16.95% |
Max Drawdown (3Y)Largest decline over 3 years | -2.64% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.45% | — | — |
Current DrawdownCurrent decline from peak | -0.25% | -15.23% | +14.98% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -10.91% | +7.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 10.12% | -9.69% |
Volatility
IBMQ vs. FBDC - Volatility Comparison
The current volatility for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) is 0.37%, while FT Confluence BDC & Specialty Finance Income ETF (FBDC) has a volatility of 4.72%. This indicates that IBMQ experiences smaller price fluctuations and is considered to be less risky than FBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBMQ | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 4.72% | -4.35% |
Volatility (6M)Calculated over the trailing 6-month period | 0.88% | 14.60% | -13.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.22% | 18.15% | -16.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.94% | 17.81% | -14.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 17.81% | -12.32% |
IBMQ vs. FBDC - Expense Ratio Comparison
IBMQ has a 0.18% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
IBMQ vs. FBDC - Dividend Comparison
IBMQ's dividend yield for the trailing twelve months is around 2.45%, less than FBDC's 12.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 12.36% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF | 2.24% | 2.43% | 2.33% | 1.93% | 1.25% | 1.05% | 1.24% | 1.03% |
Frequently Asked Questions
IBMQ and FBDC have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBDC has higher volatility (4.72%) compared to IBMQ (0.37%). In terms of maximum drawdown, IBMQ dropped -15.85% vs FBDC's -20.60%.
On 1-year performance, IBMQ leads with 2.02% vs -10.92% for FBDC. On fees, IBMQ is cheaper at 0.18% per year. On volatility, IBMQ has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBMQ has performed better with a 2.02% return vs -10.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMQ is cheaper with a 0.18% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 12.36%, compared with 2.24% for IBMQ.
IBMQ is categorized as Municipal Bonds, while FBDC is Financials Equities. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.18% for IBMQ and 1.35% for FBDC.
IBMQ currently has the higher Sharpe Ratio (1.95 vs -0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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