IYF vs. FBDC
IYF (iShares U.S. Financials ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. IYF is passively managed, while FBDC is actively managed. Over the past year, IYF returned 12.96% vs -11.30% for FBDC. At a 0.49 correlation, their price movements are largely independent. IYF charges 0.38%/yr vs 1.35%/yr for FBDC.
Performance
IYF vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, IYF achieves a 5.20% return, which is significantly higher than FBDC's -4.10% return.
IYF
- 1D
- 0.04%
- 1M
- 3.85%
- 6M
- 4.52%
- YTD
- 5.20%
- 1Y
- 12.96%
- 3Y*
- 22.42%
- 5Y*
- 12.38%
- 10Y*
- 13.63%
FBDC
- 1D
- 1.74%
- 1M
- 4.48%
- 6M
- -6.58%
- YTD
- -4.10%
- 1Y
- -11.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IYF vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IYF iShares U.S. Financials ETF | 5.20% | 8.26% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -4.10% | -2.66% |
Correlation
The correlation between IYF and FBDC is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.49 |
The correlation between IYF and FBDC has been stable across timeframes, ranging from 0.49 to 0.50 - a consistent structural relationship.
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Return for Risk
IYF vs. FBDC — Risk / Return Rank
IYF
FBDC
IYF vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financials ETF (IYF) 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.
| IYF | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.91 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | -0.55 | +1.49 |
| Martin ratioReturn relative to average drawdown | 2.52 | -0.93 | +3.44 |
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Drawdowns
IYF vs. FBDC - Drawdown Comparison
The maximum IYF drawdown since its inception was -79.09%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for IYF and FBDC.
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Drawdown Indicators
| IYF | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.09% | -20.60% | -58.49% |
Max Drawdown (1Y)Largest decline over 1 year | -13.88% | -20.60% | +6.72% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.57% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -12.29% | +12.29% |
Average DrawdownAverage peak-to-trough decline | -17.54% | -10.74% | -6.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 12.23% | -7.07% |
Volatility
IYF vs. FBDC - Volatility Comparison
The current volatility for iShares U.S. Financials ETF (IYF) is 4.05%, while FT Confluence BDC & Specialty Finance Income ETF (FBDC) has a volatility of 4.45%. This indicates that IYF 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
| IYF | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 4.45% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.13% | 14.59% | -3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 18.06% | -3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.00% | 17.86% | +1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.80% | 17.86% | +2.94% |
IYF vs. FBDC - Expense Ratio Comparison
IYF has a 0.38% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
IYF vs. FBDC - Dividend Comparison
IYF's dividend yield for the trailing twelve months is around 1.42%, less than FBDC's 11.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.99% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IYF iShares U.S. Financials ETF | 1.42% | 1.32% | 1.29% | 1.67% | 1.86% | 1.27% | 1.72% | 1.64% | 1.90% | 1.46% | 1.67% | 1.66% |
Frequently Asked Questions
IYF and FBDC have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBDC has higher volatility (4.45%) compared to IYF (4.05%). In terms of maximum drawdown, IYF dropped -79.09% vs FBDC's -20.60%.
On 1-year performance, IYF leads with 12.96% vs -11.30% for FBDC. On fees, IYF is cheaper at 0.38% per year. On volatility, IYF has been the lower-risk option at 4.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYF has performed better with a 12.96% return vs -11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYF is cheaper with a 0.38% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 11.99%, compared with 1.42% for IYF.
They also come from different issuers: iShares and First Trust. Their fees differ too: 0.38% for IYF and 1.35% for FBDC.
IYF currently has the higher Sharpe Ratio (0.90 vs -0.63), 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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