INDF vs. FBDC

Last updated Jun 4, 2026

INDF (Nifty India Financials ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. INDF is passively managed, while FBDC is actively managed. At a correlation of -0.01, they often move in opposite directions. INDF charges 0.75%/yr vs 1.35%/yr for FBDC.

Performance

INDF vs. FBDC - Performance Comparison

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

Returns By Period

INDF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 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)

INDF vs. FBDC - Yearly Performance Comparison

	2026 (YTD)	2025
INDF Nifty India Financials ETF	0.00%	-5.78%
FBDC FT Confluence BDC & Specialty Finance Income ETF	-9.51%	-2.43%

Correlation

The correlation between INDF and FBDC is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	-0.01

Return for Risk

INDF vs. FBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nifty India Financials ETF (INDF) 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

	INDF	FBDC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.70	—

Drawdowns

Drawdown Indicators

	INDF	FBDC	Difference
Max Drawdown Largest peak-to-trough decline	—	-20.60%	—
Current Drawdown Current decline from peak	—	-17.24%	—
Average Drawdown Average peak-to-trough decline	—	-10.14%	—

Volatility

Volatility by Period

	INDF	FBDC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	18.06%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.06%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.06%	—

INDF vs. FBDC - Expense Ratio Comparison

INDF has a 0.75% expense ratio, which is lower than FBDC's 1.35% expense ratio.

Dividends

INDF vs. FBDC - Dividend Comparison

INDF's dividend yield for the trailing twelve months is around 21.29%, more than FBDC's 11.52% yield.

Position	TTM	2025	2024	2023	2022	2021
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.52%	5.41%	0.00%	0.00%	0.00%	0.00%
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%

Frequently Asked Questions

Can I hold both INDF and FBDC in my portfolio?

INDF and FBDC have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INDF or FBDC?

On fees, INDF is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INDF or FBDC?

INDF is cheaper with a 0.75% expense ratio, compared with 1.35% for FBDC.

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

INDF has the higher dividend yield at 21.29%, compared with 11.52% for FBDC.

What is the main difference between INDF and FBDC?

They also come from different issuers: Exchange Traded Concepts and First Trust. Their fees differ too: 0.75% for INDF and 1.35% for FBDC.