FT Confluence BDC & Specialty Finance Income ETF
$17.18−0.17 (−1.00%)
- Expense ratio
- 0.95%
- Fund size
- $36M
- 1Y return
- −4.8%
- Yield · Last 12 months
- 11.82%
- Holdings
- 20
- Volume · 30D
- 0M sh
- NAV per share
- $17.39
- 52W range
The ETF.net FBDC Grade
Score 55 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 52Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 79Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 59Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 66Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 35Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 73Category rank
Our read on FBDC
BFirst Trust points this one at business development companies and specialty finance lenders, a narrow lending corner of US financials, with income as the stated first job and payouts on a monthly cadence.
The Fund seeks a high level of current income and, secondarily, an attractive total return.
Why people hold it
- Income is the stated job: the objective puts a high level of current income first and total return second. Distributions go out monthly.
- Narrow by design. Where XLF and VFH own the whole financial sector, this one concentrates on business development companies and specialty finance.
- It is a 1940 Act registered fund, so tax reporting arrives on a 1099 rather than a partnership K-1.
Worth knowing
- The headline expense ratio is 12.44%, against a 0.44% median across its financials cohort. Cost is the dominant trade-off here.
- Small asset base and light trading: spreads can run wide, and a sizable order can push the price around.
- One slice of US financials, not the sector as a whole, so it can behave very differently from broad financial-sector funds.
FBDC Holdings
- Stocks
- 20
- 78%
- MAIN
Geography
- United States100.00%
FBDC Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FBDC |
|---|---|
| Year to date | −3.3% |
| 1 month | −1.8% |
| 3 months | +8.1% |
| 1 year | −4.8% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FBDC |
|---|---|---|
| 2026 YTD | −3.3% | |
| 2025 | −2.5% |
FBDC in the news
ETF.net Research hasn’t filed on FBDC yet — coverage lands here as it’s written.
FBDC Dividends
- 11.82%
- $2.05
- $0.15 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 21, 2026 | Aug 31, 2026 | $0.15 |
| Jul 21, 2026 | Jul 31, 2026 | $0.15 |
| Jun 25, 2026 | Jun 30, 2026 | $0.18 |
| May 21, 2026 | May 29, 2026 | $0.18 |
| Apr 21, 2026 | Apr 30, 2026 | $0.18 |
| Mar 26, 2026 | Mar 31, 2026 | $0.18 |
| Feb 20, 2026 | Feb 27, 2026 | $0.18 |
| Jan 21, 2026 | Jan 30, 2026 | $0.18 |
| Dec 12, 2025 | Dec 31, 2025 | $0.18 |
| Nov 21, 2025 | Dec 1, 2025 | $0.18 |
| Oct 21, 2025 | Oct 31, 2025 | $0.18 |
| Sep 25, 2025 | Sep 30, 2025 | $0.18 |
FBDC Risk
- 17.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.29
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −20.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.48
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FBDC Cost
- The middle half of Listed Private Markets funds
- Median 0.95%
5 of the 11 Listed Private Markets funds charge less.