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 11.37% return, which is significantly higher than FBDC's -10.39% return.
KBE
- 1D
- 1.33%
- 1M
- 5.76%
- YTD
- 11.37%
- 6M
- 8.58%
- 1Y
- 26.10%
- 3Y*
- 27.71%
- 5Y*
- 8.00%
- 10Y*
- 11.09%
FBDC
- 1D
- 0.30%
- 1M
- -1.24%
- YTD
- -10.39%
- 6M
- -8.60%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBE vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KBE SPDR S&P Bank ETF | 11.37% | 10.26% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -10.39% | -2.66% |
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 Jun 30, 2025 | 0.48 |
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Return for Risk
KBE vs. FBDC — Risk / Return Rank
KBE
FBDC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| KBE | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.23 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | — | — |
| Martin ratioReturn relative to average drawdown | 4.71 | — | — |
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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 | 0.00% | -18.04% | +18.04% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -10.44% | -17.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | — | — |
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 | 5.85% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 15.12% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 21.63% | 18.00% | +3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.25% | 18.00% | +9.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.77% | 18.00% | +11.77% |
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 2.19%, less than FBDC's 11.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.63% | 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 | 2.19% | 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 11.63%, compared with 2.19% 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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