KWT vs. FBDC
KWT (iShares MSCI Kuwait ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. KWT is passively managed, while FBDC is actively managed. Over the past year, KWT returned 1.59% vs -7.42% for FBDC. Their 0.16 correlation means their historical movements had little consistent relationship. KWT charges 0.74%/yr vs 1.35%/yr for FBDC.
Performance
KWT vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, KWT achieves a -1.11% return, which is significantly higher than FBDC's -3.55% return.
KWT
- 1D
- 0.37%
- 1M
- 1.54%
- 6M
- 0.83%
- YTD
- -1.11%
- 1Y
- 1.59%
- 3Y*
- 9.43%
- 5Y*
- 8.16%
- 10Y*
- —
- ALL TIME*
- 11.86%
FBDC
- 1D
- 1.71%
- 1M
- 3.54%
- 6M
- 1.08%
- YTD
- -3.55%
- 1Y
- -7.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -5.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $236.15K | $201.18K | $193.83K | |
| $420.28K | $307.57K | $205.85K |
KWT vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KWT iShares MSCI Kuwait ETF | -1.11% | 6.17% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -3.55% | -2.66% |
Correlation
The correlation between KWT and FBDC is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.16 |
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Return for Risk
KWT vs. FBDC — Risk / Return Rank
KWT
FBDC
KWT vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Kuwait ETF (KWT) 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.
| KWT | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.95 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | -0.41 | +0.55 |
| Martin ratioReturn relative to average drawdown | 0.29 | -0.73 | +1.02 |
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Drawdowns
KWT vs. FBDC - Drawdown Comparison
The maximum KWT drawdown since its inception was -24.37%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for KWT and FBDC.
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Drawdown Indicators
| KWT | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.37% | -20.60% | -3.77% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -18.08% | +6.54% |
Max Drawdown (3Y)Largest decline over 3 years | -12.58% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.37% | — | — |
Current DrawdownCurrent decline from peak | -5.89% | -11.79% | +5.90% |
Average DrawdownAverage peak-to-trough decline | -7.29% | -10.92% | +3.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.59% | 10.16% | -4.57% |
Volatility
KWT vs. FBDC - Volatility Comparison
The current volatility for iShares MSCI Kuwait ETF (KWT) is 2.53%, while FT Confluence BDC & Specialty Finance Income ETF (FBDC) has a volatility of 5.49%. This indicates that KWT experiences smaller price fluctuations and is considered to be less risky than FBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KWT | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 5.49% | -2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 9.83% | 14.77% | -4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.37% | 18.37% | -5.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.60% | 17.96% | -4.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.87% | 17.96% | -4.09% |
KWT vs. FBDC - Expense Ratio Comparison
KWT has a 0.74% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
KWT vs. FBDC - Dividend Comparison
KWT's dividend yield for the trailing twelve months is around 5.57%, less than FBDC's 11.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.88% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KWT iShares MSCI Kuwait ETF | 5.57% | 5.40% | 6.09% | 2.25% | 5.87% | 7.65% | 0.27% |
Frequently Asked Questions
KWT and FBDC have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBDC has higher volatility (5.49%) compared to KWT (2.53%). In terms of maximum drawdown, KWT dropped -24.37% vs FBDC's -20.60%.
On 1-year performance, KWT leads with 1.59% vs -7.42% for FBDC. On fees, KWT is cheaper at 0.74% per year. On volatility, KWT has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KWT has performed better with a 1.59% return vs -7.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KWT is cheaper with a 0.74% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 11.88%, compared with 5.57% for KWT.
They also come from different issuers: iShares and First Trust. Their fees differ too: 0.74% for KWT and 1.35% for FBDC.
KWT currently has the higher Sharpe Ratio (0.12 vs -0.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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