TFNS vs. FBDC

Last updated Apr 1, 2026

Compare and contrast key facts about T. Rowe Price Financials ETF (TFNS) and FT Confluence BDC & Specialty Finance Income ETF (FBDC).

TFNS and FBDC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TFNS is an actively managed fund by T. Rowe Price. It was launched on Jun 11, 2025. FBDC is an actively managed fund by First Trust. It was launched on Jun 30, 2025.

Performance

TFNS vs. FBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Financials ETF (TFNS) and FT Confluence BDC & Specialty Finance Income ETF (FBDC). The values are adjusted to include any dividend payments, if applicable.

TFNS vs. FBDC - Yearly Performance Comparison

	2026 (YTD)	2025
TFNS T. Rowe Price Financials ETF	-8.68%	7.51%
FBDC FT Confluence BDC & Specialty Finance Income ETF	-9.87%	-2.43%

Returns By Period

In the year-to-date period, TFNS achieves a -8.68% return, which is significantly higher than FBDC's -9.87% return.

TFNS

• 1D: 2.15%
• 1M: -3.39%
• YTD: -8.68%
• 6M: -5.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

TFNS vs. FBDC - Expense Ratio Comparison

TFNS has a 0.44% expense ratio, which is lower than FBDC's 13.69% expense ratio.

FBDC

FT Confluence BDC & Specialty Finance Income ETF

TFNS

T. Rowe Price Financials ETF

Return for Risk

TFNS vs. FBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Financials ETF (TFNS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TFNS	FBDC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	-0.91	+0.98

Correlation

The correlation between TFNS and FBDC is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TFNS vs. FBDC - Dividend Comparison

TFNS's dividend yield for the trailing twelve months is around 0.54%, less than FBDC's 9.28% yield.

	TTM	2025
TFNS T. Rowe Price Financials ETF	0.54%	0.49%
FBDC FT Confluence BDC & Specialty Finance Income ETF	9.28%	5.41%

Drawdowns

TFNS vs. FBDC - Drawdown Comparison

The maximum TFNS drawdown since its inception was -14.00%, smaller than the maximum FBDC drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for TFNS and FBDC.

Drawdown Indicators

	TFNS	FBDC	Difference
Max Drawdown Largest peak-to-trough decline	-14.00%	-20.60%	+6.60%
Current Drawdown Current decline from peak	-11.23%	-17.57%	+6.34%
Average Drawdown Average peak-to-trough decline	-3.10%	-9.11%	+6.01%

Volatility

Volatility by Period

	TFNS	FBDC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.50%	17.36%	-1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.50%	17.36%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.50%	17.36%	-1.86%