IBMR vs. FBDC
IBMR (iShares iBonds Dec 2029 Term Muni Bond ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both exchange-traded funds - IBMR is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index, while FBDC is a Financials Equities fund actively managed by First Trust. IBMR is passively managed, while FBDC is actively managed. Over the past year, IBMR returned 1.72% vs -8.87% for FBDC. Their 0.08 correlation means their historical movements had little consistent relationship. IBMR charges 0.18%/yr vs 1.35%/yr for FBDC.
Performance
IBMR vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, IBMR achieves a 0.49% return, which is significantly higher than FBDC's -5.18% return.
IBMR
- 1D
- 0.05%
- 1M
- -0.46%
- 6M
- -0.33%
- YTD
- 0.49%
- 1Y
- 1.72%
- 3Y*
- 3.25%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.61%
FBDC
- 1D
- 2.30%
- 1M
- 1.79%
- 6M
- -2.87%
- YTD
- -5.18%
- 1Y
- -8.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -7.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $219.24K | $198.31K | $194.48K | |
| $1.30M | $1.37M | $1.46M |
IBMR vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF | 0.49% | 2.44% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -5.18% | -2.66% |
Correlation
The correlation between IBMR and FBDC is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.08 |
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Return for Risk
IBMR vs. FBDC — Risk / Return Rank
IBMR
FBDC
IBMR vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) 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.
| IBMR | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.93 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | -0.49 | +1.60 |
| Martin ratioReturn relative to average drawdown | 2.67 | -0.88 | +3.55 |
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Drawdowns
IBMR vs. FBDC - Drawdown Comparison
The maximum IBMR drawdown since its inception was -4.83%, smaller than the maximum FBDC drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for IBMR and FBDC.
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Drawdown Indicators
| IBMR | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.83% | -20.60% | +15.77% |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | -18.08% | +16.53% |
Max Drawdown (3Y)Largest decline over 3 years | -3.63% | — | — |
Current DrawdownCurrent decline from peak | -0.90% | -13.28% | +12.38% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -10.91% | +9.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 10.14% | -9.50% |
Volatility
IBMR vs. FBDC - Volatility Comparison
The current volatility for iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) is 0.43%, while FT Confluence BDC & Specialty Finance Income ETF (FBDC) has a volatility of 5.25%. This indicates that IBMR 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
| IBMR | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 5.25% | -4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 1.10% | 14.76% | -13.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.62% | 18.32% | -16.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.00% | 17.91% | -14.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.00% | 17.91% | -14.91% |
IBMR vs. FBDC - Expense Ratio Comparison
IBMR has a 0.18% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
IBMR vs. FBDC - Dividend Comparison
IBMR's dividend yield for the trailing twelve months is around 2.54%, less than FBDC's 12.08% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 12.08% | 5.41% | 0.00% | 0.00% |
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF | 2.54% | 2.55% | 2.53% | 1.27% |
Frequently Asked Questions
IBMR and FBDC have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBDC has higher volatility (5.25%) compared to IBMR (0.43%). In terms of maximum drawdown, IBMR dropped -4.83% vs FBDC's -20.60%.
On 1-year performance, IBMR leads with 1.72% vs -8.87% for FBDC. On fees, IBMR is cheaper at 0.18% per year. On volatility, IBMR has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBMR has performed better with a 1.72% return vs -8.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMR is cheaper with a 0.18% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 12.08%, compared with 2.54% for IBMR.
IBMR 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 IBMR and 1.35% for FBDC.
IBMR currently has the higher Sharpe Ratio (1.07 vs -0.49), 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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