PFI vs. FBDC
PFI (Invesco Dorsey Wright Financial Momentum ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both exchange-traded funds - PFI is a Momentum fund tracking the Dorsey Wright Financials Technical Leaders Index, while FBDC is a Financials Equities fund actively managed by First Trust. PFI is passively managed, while FBDC is actively managed. Over the past year, PFI returned 16.89% vs -8.87% for FBDC. Their 0.54 correlation means they have sometimes moved together and sometimes differently. PFI charges 0.60%/yr vs 1.35%/yr for FBDC.
Performance
PFI vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, PFI achieves a 10.59% return, which is significantly higher than FBDC's -5.18% return.
PFI
- 1D
- 1.27%
- 1M
- 3.00%
- 6M
- 9.38%
- YTD
- 10.59%
- 1Y
- 16.89%
- 3Y*
- 14.10%
- 5Y*
- 6.23%
- 10Y*
- 9.11%
- ALL TIME*
- 6.34%
FBDC
- 1D
- 2.30%
- 1M
- 1.79%
- 6M
- -2.87%
- YTD
- -5.18%
- 1Y
- -8.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -7.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $219.24K | $198.31K | $194.48K | |
| $678.29K | $1.66M | $620.79K |
PFI vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PFI Invesco Dorsey Wright Financial Momentum ETF | 10.59% | 3.66% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -5.18% | -2.66% |
Correlation
The correlation between PFI and FBDC is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.54 |
The correlation between PFI and FBDC has been stable across timeframes, ranging from 0.54 to 0.55 - a consistent structural relationship.
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Return for Risk
PFI vs. FBDC — Risk / Return Rank
PFI
FBDC
PFI vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Financial Momentum ETF (PFI) 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.
| PFI | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.93 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | -0.49 | +1.72 |
| Martin ratioReturn relative to average drawdown | 3.69 | -0.88 | +4.57 |
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Drawdowns
PFI vs. FBDC - Drawdown Comparison
The maximum PFI drawdown since its inception was -59.53%, which is greater than FBDC's maximum drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for PFI and FBDC.
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Drawdown Indicators
| PFI | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.53% | -20.60% | -38.93% |
Max Drawdown (1Y)Largest decline over 1 year | -13.86% | -18.08% | +4.22% |
Max Drawdown (3Y)Largest decline over 3 years | -24.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -35.43% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.09% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -13.28% | +12.97% |
Average DrawdownAverage peak-to-trough decline | -14.39% | -10.91% | -3.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.59% | 10.14% | -5.55% |
Volatility
PFI vs. FBDC - Volatility Comparison
Invesco Dorsey Wright Financial Momentum ETF (PFI) has a higher volatility of 5.99% compared to FT Confluence BDC & Specialty Finance Income ETF (FBDC) at 5.25%. This indicates that PFI's price experiences larger fluctuations and is considered to be riskier 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
| PFI | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 5.25% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 13.92% | 14.76% | -0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.94% | 18.32% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.67% | 17.91% | +3.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.30% | 17.91% | +4.39% |
PFI vs. FBDC - Expense Ratio Comparison
PFI has a 0.60% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
PFI vs. FBDC - Dividend Comparison
PFI's dividend yield for the trailing twelve months is around 0.96%, less than FBDC's 12.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBDC FT Confluence BDC & Specialty Finance Income ETF | 12.08% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFI Invesco Dorsey Wright Financial Momentum ETF | 0.96% | 0.68% | 2.77% | 1.85% | 1.93% | 1.28% | 1.56% | 0.92% | 1.98% | 0.35% | 2.16% | 1.44% |
Frequently Asked Questions
PFI and FBDC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFI has higher volatility (5.99%) compared to FBDC (5.25%). In terms of maximum drawdown, PFI dropped -59.53% vs FBDC's -20.60%.
On 1-year performance, PFI leads with 16.89% vs -8.87% for FBDC. On fees, PFI is cheaper at 0.60% per year. On volatility, FBDC has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PFI has performed better with a 16.89% return vs -8.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFI is cheaper with a 0.60% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 12.08%, compared with 0.96% for PFI.
PFI is categorized as Momentum, while FBDC is Financials Equities. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.60% for PFI and 1.35% for FBDC.
PFI currently has the higher Sharpe Ratio (0.90 vs -0.49), 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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