KIE vs. FBDC

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR S&P Insurance ETF (KIE) and FT Confluence BDC & Specialty Finance Income ETF (FBDC).

KIE and FBDC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KIE is a passively managed fund by State Street that tracks the performance of the S&P Insurance Select Industry Index. It was launched on Nov 8, 2005. FBDC is an actively managed fund by First Trust. It was launched on Jun 30, 2025.

Performance

KIE vs. FBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Insurance ETF (KIE) and FT Confluence BDC & Specialty Finance Income ETF (FBDC). The values are adjusted to include any dividend payments, if applicable.

KIE vs. FBDC - Yearly Performance Comparison

	2026 (YTD)	2025
KIE SPDR S&P Insurance ETF	-8.09%	1.50%
FBDC FT Confluence BDC & Specialty Finance Income ETF	-9.87%	-2.43%

Returns By Period

In the year-to-date period, KIE achieves a -8.09% return, which is significantly higher than FBDC's -9.87% return.

KIE

• 1D: 1.08%
• 1M: -4.90%
• YTD: -8.09%
• 6M: -6.32%
• 1Y: -7.67%
• 3Y*: 13.63%
• 5Y*: 10.11%
• 10Y*: 10.95%

FBDC

• 1D: 2.30%
• 1M: 2.24%
• YTD: -9.87%
• 6M: -9.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KIE vs. FBDC - Expense Ratio Comparison

KIE has a 0.35% expense ratio, which is lower than FBDC's 13.69% expense ratio.

FBDC

FT Confluence BDC & Specialty Finance Income ETF

KIE

SPDR S&P Insurance ETF

Return for Risk

KIE vs. FBDC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KIE

KIE Risk / Return Rank: 4
KIE Sharpe Ratio Rank: 5
KIE Sortino Ratio Rank: 5
KIE Omega Ratio Rank: 5
KIE Calmar Ratio Rank: 3
KIE Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KIE vs. FBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Insurance ETF (KIE) 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.

	KIE	FBDC	Difference
Sharpe ratio Return per unit of total volatility	-0.39	—	—
Sortino ratio Return per unit of downside risk	-0.41	—	—
Omega ratio Gain probability vs. loss probability	0.95	—	—
Calmar ratio Return relative to maximum drawdown	-0.58	—	—
Martin ratio Return relative to average drawdown	-1.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KIE	FBDC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.39	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	-0.91	+1.20

Correlation

The correlation between KIE and FBDC is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

KIE vs. FBDC - Dividend Comparison

KIE's dividend yield for the trailing twelve months is around 1.68%, less than FBDC's 9.28% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KIE SPDR S&P Insurance ETF	1.68%	1.57%	1.48%	1.45%	1.90%	1.95%	1.85%	1.76%	1.83%	1.56%	1.55%	1.65%
FBDC FT Confluence BDC & Specialty Finance Income ETF	9.28%	5.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

KIE vs. FBDC - Drawdown Comparison

The maximum KIE drawdown since its inception was -75.30%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for KIE and FBDC.

Drawdown Indicators

	KIE	FBDC	Difference
Max Drawdown Largest peak-to-trough decline	-75.30%	-20.60%	-54.70%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.31%	—	—
Current Drawdown Current decline from peak	-9.42%	-17.57%	+8.15%
Average Drawdown Average peak-to-trough decline	-12.09%	-9.11%	-2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.23%	—	—

Volatility

Volatility by Period

	KIE	FBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.78%	17.36%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	17.36%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.15%	17.36%	+3.79%