KBWP vs. FBDC
KBWP (Invesco KBW Property & Casualty Insurance ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. KBWP is passively managed, while FBDC is actively managed. At a 0.18 correlation, their price movements are largely independent. KBWP charges 0.35%/yr vs 1.35%/yr for FBDC.
Performance
KBWP vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, KBWP achieves a -8.80% return, which is significantly higher than FBDC's -9.51% return.
KBWP
- 1D
- -0.82%
- 1M
- -2.90%
- YTD
- -8.80%
- 6M
- -4.88%
- 1Y
- -7.04%
- 3Y*
- 14.48%
- 5Y*
- 9.97%
- 10Y*
- 11.22%
FBDC
- 1D
- -2.98%
- 1M
- -7.81%
- YTD
- -9.51%
- 6M
- -10.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBWP vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | -8.80% | 4.45% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -9.51% | -2.43% |
Correlation
The correlation between KBWP and FBDC is 0.18, 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 | 0.18 |
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Return for Risk
KBWP vs. FBDC — Risk / Return Rank
KBWP
FBDC
KBWP vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) 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.
| KBWP | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.94 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | — | — |
| Martin ratioReturn relative to average drawdown | -1.56 | — | — |
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
| KBWP | FBDC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | -0.70 | +1.39 |
Drawdowns
KBWP vs. FBDC - Drawdown Comparison
The maximum KBWP drawdown since its inception was -39.76%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for KBWP and FBDC.
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Drawdown Indicators
| KBWP | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.76% | -20.60% | -19.16% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -12.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.76% | — | — |
Current DrawdownCurrent decline from peak | -9.56% | -17.24% | +7.68% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -10.14% | +5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | — | — |
Volatility
KBWP vs. FBDC - Volatility Comparison
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Volatility by Period
| KBWP | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.41% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.20% | 18.06% | -1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.53% | 18.06% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.70% | 18.06% | +2.64% |
KBWP vs. FBDC - Expense Ratio Comparison
KBWP has a 0.35% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
KBWP vs. FBDC - Dividend Comparison
KBWP's dividend yield for the trailing twelve months is around 2.03%, 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% |
KBWP Invesco KBW Property & Casualty Insurance ETF | 2.03% | 1.58% | 1.64% | 1.68% | 1.99% | 3.02% | 1.93% | 1.99% | 2.11% | 1.90% | 2.14% | 1.35% |
Frequently Asked Questions
KBWP and FBDC have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KBWP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KBWP 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 2.03% for KBWP.
They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.35% for KBWP and 1.35% for FBDC.
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