KIE vs. FBDC

Last updated Jun 3, 2026

KIE (SPDR S&P Insurance ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. KIE is passively managed, while FBDC is actively managed. At a 0.36 correlation, their price movements are largely independent. KIE charges 0.35%/yr vs 1.35%/yr for FBDC.

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.

Returns By Period

In the year-to-date period, KIE achieves a -7.88% return, which is significantly lower than FBDC's -6.73% return.

KIE

• 1D: -0.38%
• 1M: -2.92%
• YTD: -7.88%
• 6M: -5.75%
• 1Y: -6.09%
• 3Y*: 13.55%
• 5Y*: 8.63%
• 10Y*: 10.60%

FBDC

• 1D: -0.28%
• 1M: -4.81%
• YTD: -6.73%
• 6M: -6.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KIE vs. FBDC - Yearly Performance Comparison

	2026 (YTD)	2025
KIE SPDR S&P Insurance ETF	-7.88%	1.50%
FBDC FT Confluence BDC & Specialty Finance Income ETF	-6.73%	-2.43%

Correlation

The correlation between KIE and FBDC is 0.36, 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	0.36

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: 5
KIE Sharpe Ratio Rank: 5
KIE Sortino Ratio Rank: 5
KIE Omega Ratio Rank: 5
KIE Calmar Ratio Rank: 5
KIE Martin Ratio Rank: 3

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	-0.38	—	—
Sortino ratio Return per unit of downside risk	-0.42	—	—
Omega ratio Gain probability vs. loss probability	0.95	—	—
Calmar ratio Return relative to maximum drawdown	-0.45	—	—
Martin ratio Return relative to average drawdown	-1.11	—	—
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	-0.38	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	-0.55	+0.83

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	-11.81%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	—	—
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	-9.20%	-14.70%	+5.50%
Average Drawdown Average peak-to-trough decline	-12.05%	-10.11%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	—	—

Volatility

Volatility by Period

	KIE	FBDC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	17.83%	-1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.35%	17.83%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.17%	17.83%	+3.34%

KIE vs. FBDC - Expense Ratio Comparison

KIE has a 0.35% expense ratio, which is lower than FBDC's 1.35% expense ratio.

Dividends

KIE vs. FBDC - Dividend Comparison

KIE's dividend yield for the trailing twelve months is around 1.68%, less than FBDC's 11.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.18%	5.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both KIE and FBDC in my portfolio?

KIE and FBDC have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KIE or FBDC?

On fees, KIE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KIE or FBDC?

KIE is cheaper with a 0.35% expense ratio, compared with 1.35% for FBDC.

Which ETF pays a higher dividend yield, KIE or FBDC?

FBDC has the higher dividend yield at 11.18%, compared with 1.68% for KIE.

What is the main difference between KIE and FBDC?

They also come from different issuers: State Street and First Trust. Their fees differ too: 0.35% for KIE and 1.35% for FBDC.