IYG vs. FBDC
IYG (iShares U.S. Financial Services ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. IYG is passively managed, while FBDC is actively managed. Over the past year, IYG returned 14.31% vs -7.42% for FBDC. Their 0.50 correlation means they have sometimes moved together and sometimes differently. IYG charges 0.42%/yr vs 1.35%/yr for FBDC.
Performance
IYG vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, IYG achieves a 6.15% return, which is significantly higher than FBDC's -3.55% return.
IYG
- 1D
- 0.96%
- 1M
- 4.27%
- 6M
- 7.93%
- YTD
- 6.15%
- 1Y
- 14.31%
- 3Y*
- 22.26%
- 5Y*
- 10.92%
- 10Y*
- 14.64%
- ALL TIME*
- 6.76%
FBDC
- 1D
- 1.71%
- 1M
- 3.54%
- 6M
- 1.08%
- YTD
- -3.55%
- 1Y
- -7.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -5.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $236.15K | $201.18K | $193.83K | |
| $7.02M | $11.44M | $10.05M |
IYG vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IYG iShares U.S. Financial Services ETF | 6.15% | 9.39% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -3.55% | -2.66% |
Correlation
The correlation between IYG and FBDC is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.50 |
The correlation between IYG and FBDC has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.
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Return for Risk
IYG vs. FBDC — Risk / Return Rank
IYG
FBDC
IYG vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financial Services ETF (IYG) 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.
| IYG | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.95 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | -0.41 | +1.32 |
| Martin ratioReturn relative to average drawdown | 2.30 | -0.73 | +3.03 |
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Drawdowns
IYG vs. FBDC - Drawdown Comparison
The maximum IYG drawdown since its inception was -81.84%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for IYG and FBDC.
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Drawdown Indicators
| IYG | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.84% | -20.60% | -61.24% |
Max Drawdown (1Y)Largest decline over 1 year | -15.90% | -18.08% | +2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -18.54% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.32% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -11.79% | +11.79% |
Average DrawdownAverage peak-to-trough decline | -20.63% | -10.92% | -9.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.25% | 10.16% | -3.91% |
Volatility
IYG vs. FBDC - Volatility Comparison
The current volatility for iShares U.S. Financial Services ETF (IYG) is 4.49%, while FT Confluence BDC & Specialty Finance Income ETF (FBDC) has a volatility of 5.49%. This indicates that IYG 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
| IYG | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 5.49% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 12.00% | 14.77% | -2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.75% | 18.37% | -2.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.34% | 17.96% | +2.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.38% | 17.96% | +5.42% |
IYG vs. FBDC - Expense Ratio Comparison
IYG has a 0.42% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
IYG vs. FBDC - Dividend Comparison
IYG's dividend yield for the trailing twelve months is around 1.01%, less than FBDC's 11.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.88% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IYG iShares U.S. Financial Services ETF | 1.01% | 1.00% | 1.16% | 1.77% | 2.07% | 1.25% | 1.71% | 1.59% | 1.81% | 1.24% | 1.28% | 1.33% |
Frequently Asked Questions
IYG and FBDC have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBDC has higher volatility (5.49%) compared to IYG (4.49%). In terms of maximum drawdown, IYG dropped -81.84% vs FBDC's -20.60%.
On 1-year performance, IYG leads with 14.31% vs -7.42% for FBDC. On fees, IYG is cheaper at 0.42% per year. On volatility, IYG has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYG has performed better with a 14.31% return vs -7.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYG is cheaper with a 0.42% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 11.88%, compared with 1.01% for IYG.
They also come from different issuers: iShares and First Trust. Their fees differ too: 0.42% for IYG and 1.35% for FBDC.
IYG currently has the higher Sharpe Ratio (0.91 vs -0.41), 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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