KBWD vs. FBDC
KBWD (Invesco KBW High Dividend Yield Financial ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. KBWD is passively managed, while FBDC is actively managed. A 0.77 correlation means they provide meaningful diversification when combined. KBWD charges 5.39%/yr vs 1.35%/yr for FBDC.
Performance
KBWD vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, KBWD achieves a -5.53% return, which is significantly higher than FBDC's -10.66% return.
KBWD
- 1D
- 0.83%
- 1M
- -1.47%
- YTD
- -5.53%
- 6M
- -5.36%
- 1Y
- 1.75%
- 3Y*
- 5.35%
- 5Y*
- 0.47%
- 10Y*
- 5.03%
FBDC
- 1D
- -1.16%
- 1M
- -1.54%
- YTD
- -10.66%
- 6M
- -9.44%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBWD vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KBWD Invesco KBW High Dividend Yield Financial ETF | -5.53% | 5.99% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -10.66% | -2.66% |
Correlation
The correlation between KBWD and FBDC is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.77 |
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Return for Risk
KBWD vs. FBDC — Risk / Return Rank
KBWD
FBDC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KBWD vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW High Dividend Yield Financial ETF (KBWD) 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.
| KBWD | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.03 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | — | — |
| Martin ratioReturn relative to average drawdown | 0.28 | — | — |
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Drawdowns
KBWD vs. FBDC - Drawdown Comparison
The maximum KBWD drawdown since its inception was -58.63%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for KBWD and FBDC.
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Drawdown Indicators
| KBWD | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -20.60% | -38.03% |
Max Drawdown (1Y)Largest decline over 1 year | -15.05% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -19.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -58.63% | — | — |
Current DrawdownCurrent decline from peak | -12.25% | -18.29% | +6.04% |
Average DrawdownAverage peak-to-trough decline | -7.42% | -10.41% | +2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.35% | — | — |
Volatility
KBWD vs. FBDC - Volatility Comparison
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Volatility by Period
| KBWD | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.99% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 12.57% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.67% | 18.03% | -2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.84% | 18.03% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.26% | 18.03% | +5.23% |
KBWD vs. FBDC - Expense Ratio Comparison
KBWD has a 5.39% expense ratio, which is higher than FBDC's 1.35% expense ratio.
Dividends
KBWD vs. FBDC - Dividend Comparison
KBWD's dividend yield for the trailing twelve months is around 14.50%, more than FBDC's 11.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.67% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KBWD Invesco KBW High Dividend Yield Financial ETF | 14.50% | 12.83% | 12.45% | 11.45% | 11.32% | 7.26% | 9.68% | 8.63% | 9.47% | 8.77% | 8.68% | 8.89% |
Frequently Asked Questions
KBWD and FBDC have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FBDC is cheaper at 1.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FBDC is cheaper with a 1.35% expense ratio, compared with 5.39% for KBWD.
KBWD has the higher dividend yield at 14.50%, compared with 11.67% for FBDC.
They also come from different issuers: Invesco and First Trust. Their fees differ too: 5.39% for KBWD and 1.35% for FBDC.
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