KBE vs. FBDC
KBE (SPDR S&P Bank ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. KBE is passively managed, while FBDC is actively managed. At a 0.48 correlation, their price movements are largely independent. KBE charges 0.35%/yr vs 1.35%/yr for FBDC.
Performance
KBE vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, KBE achieves a 2.87% return, which is significantly higher than FBDC's -9.51% return.
KBE
- 1D
- -2.28%
- 1M
- -1.94%
- YTD
- 2.87%
- 6M
- 4.27%
- 1Y
- 18.75%
- 3Y*
- 22.67%
- 5Y*
- 5.28%
- 10Y*
- 9.19%
FBDC
- 1D
- -2.98%
- 1M
- -7.81%
- YTD
- -9.51%
- 6M
- -10.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBE vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KBE SPDR S&P Bank ETF | 2.87% | 10.22% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -9.51% | -2.43% |
Correlation
The correlation between KBE and FBDC is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.48 |
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Return for Risk
KBE vs. FBDC — Risk / Return Rank
KBE
FBDC
KBE vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Bank ETF (KBE) 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.
| KBE | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.17 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | — | — |
| Martin ratioReturn relative to average drawdown | 3.39 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KBE | FBDC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | -0.70 | +0.80 |
Drawdowns
KBE vs. FBDC - Drawdown Comparison
The maximum KBE drawdown since its inception was -83.15%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for KBE and FBDC.
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Drawdown Indicators
| KBE | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.15% | -20.60% | -62.55% |
Max Drawdown (1Y)Largest decline over 1 year | -14.63% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -25.97% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -45.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | — | — |
Current DrawdownCurrent decline from peak | -7.38% | -17.24% | +9.86% |
Average DrawdownAverage peak-to-trough decline | -27.54% | -10.14% | -17.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.55% | — | — |
Volatility
KBE vs. FBDC - Volatility Comparison
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Volatility by Period
| KBE | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.93% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 21.62% | 18.06% | +3.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.36% | 18.06% | +9.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.85% | 18.06% | +11.79% |
KBE vs. FBDC - Expense Ratio Comparison
KBE has a 0.35% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
KBE vs. FBDC - Dividend Comparison
KBE's dividend yield for the trailing twelve months is around 2.39%, less than FBDC's 11.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.52% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KBE SPDR S&P Bank ETF | 2.39% | 2.51% | 2.35% | 2.78% | 2.99% | 2.16% | 2.44% | 2.33% | 2.18% | 1.36% | 1.39% | 1.70% |
Frequently Asked Questions
KBE and FBDC have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KBE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KBE is cheaper with a 0.35% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 11.52%, compared with 2.39% for KBE.
They also come from different issuers: State Street and First Trust. Their fees differ too: 0.35% for KBE and 1.35% for FBDC.
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