KCE vs. FBDC
KCE (SPDR S&P Capital Markets ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. KCE is passively managed, while FBDC is actively managed. A 0.61 correlation means they provide meaningful diversification when combined. KCE charges 0.35%/yr vs 1.35%/yr for FBDC.
Performance
KCE vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, KCE achieves a -1.07% return, which is significantly higher than FBDC's -9.51% return.
KCE
- 1D
- -1.85%
- 1M
- -2.01%
- YTD
- -1.07%
- 6M
- 1.30%
- 1Y
- 10.93%
- 3Y*
- 23.82%
- 5Y*
- 11.80%
- 10Y*
- 16.37%
FBDC
- 1D
- -2.98%
- 1M
- -7.81%
- YTD
- -9.51%
- 6M
- -10.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KCE vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KCE SPDR S&P Capital Markets ETF | -1.07% | 4.31% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -9.51% | -2.43% |
Correlation
The correlation between KCE and FBDC is 0.61, 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 Jul 1, 2025 | 0.61 |
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Return for Risk
KCE vs. FBDC — Risk / Return Rank
KCE
FBDC
KCE vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Capital Markets ETF (KCE) 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.
| KCE | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.11 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | — | — |
| Martin ratioReturn relative to average drawdown | 1.65 | — | — |
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
| KCE | FBDC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | -0.70 | +0.95 |
Drawdowns
KCE vs. FBDC - Drawdown Comparison
The maximum KCE drawdown since its inception was -74.00%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for KCE and FBDC.
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Drawdown Indicators
| KCE | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.00% | -20.60% | -53.40% |
Max Drawdown (1Y)Largest decline over 1 year | -17.44% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -34.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.78% | — | — |
Current DrawdownCurrent decline from peak | -8.15% | -17.24% | +9.09% |
Average DrawdownAverage peak-to-trough decline | -22.81% | -10.14% | -12.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.63% | — | — |
Volatility
KCE vs. FBDC - Volatility Comparison
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Volatility by Period
| KCE | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.98% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.69% | 18.06% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.01% | 18.06% | +4.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.10% | 18.06% | +5.04% |
KCE vs. FBDC - Expense Ratio Comparison
KCE has a 0.35% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
KCE vs. FBDC - Dividend Comparison
KCE's dividend yield for the trailing twelve months is around 1.75%, 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% |
KCE SPDR S&P Capital Markets ETF | 1.75% | 1.63% | 1.56% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% |
Frequently Asked Questions
KCE and FBDC have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KCE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KCE 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 1.75% for KCE.
They also come from different issuers: State Street and First Trust. Their fees differ too: 0.35% for KCE and 1.35% for FBDC.
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