TFNS vs. FBDC

Last updated Jun 4, 2026

TFNS (T. Rowe Price Financials ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both Financials Equities funds. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. TFNS charges 0.44%/yr vs 1.35%/yr for FBDC.

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.

Returns By Period

In the year-to-date period, TFNS achieves a -5.36% return, which is significantly higher than FBDC's -9.51% return.

TFNS

• 1D: -1.39%
• 1M: -1.27%
• YTD: -5.36%
• 6M: -2.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBDC

• 1D: -2.98%
• 1M: -7.81%
• YTD: -9.51%
• 6M: -10.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TFNS vs. FBDC - Yearly Performance Comparison

	2026 (YTD)	2025
TFNS T. Rowe Price Financials ETF	-5.36%	7.51%
FBDC FT Confluence BDC & Specialty Finance Income ETF	-9.51%	-2.43%

Correlation

The correlation between TFNS and FBDC is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.51

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	0.31	-0.70	+1.01

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	-8.00%	-17.24%	+9.24%
Average Drawdown Average peak-to-trough decline	-3.82%	-10.14%	+6.32%

Volatility

Volatility by Period

	TFNS	FBDC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	18.06%	-3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.04%	18.06%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	18.06%	-3.02%

TFNS vs. FBDC - Expense Ratio Comparison

TFNS has a 0.44% expense ratio, which is lower than FBDC's 1.35% expense ratio.

Dividends

TFNS vs. FBDC - Dividend Comparison

TFNS's dividend yield for the trailing twelve months is around 0.52%, less than FBDC's 11.52% yield.

Position	TTM	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.52%	5.41%
TFNS T. Rowe Price Financials ETF	0.52%	0.49%

Frequently Asked Questions

Can I hold both TFNS and FBDC in my portfolio?

TFNS and FBDC have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TFNS or FBDC?

On fees, TFNS is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFNS or FBDC?

TFNS is cheaper with a 0.44% expense ratio, compared with 1.35% for FBDC.

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

FBDC has the higher dividend yield at 11.52%, compared with 0.52% for TFNS.

What is the main difference between TFNS and FBDC?

They also come from different issuers: T. Rowe Price and First Trust. Their fees differ too: 0.44% for TFNS and 1.35% for FBDC.