FTBI vs IYLD: Grades, Fees and Holdings Compared

First Trust Balanced Income ETF

FTBICNYSE Arca

iShares Morningstar Multi-Asset Income ETF

IYLDACboe

Overlap

0.0%by weight

Expense ratio

IYLD −0.48pt a year

FTBI0.98%IYLD0.50%

Avg volume · 30D

IYLD 2.5×the volume

FTBI7.55KIYLD18.7K

FTBI vs IYLD Performance

Oct 31, 2025 – Oct 30, 2026

+7.5%FTBI+6.5%IYLD

Expense ratio: FTBI 0.98%; IYLD 0.50%, better
Fund size: FTBI $30M; IYLD $129M
1Y total return: FTBI +7.5%, better; IYLD +6.5%
Yield (12M): FTBI 7.92%, better; IYLD 4.79%
Holdings: FTBI 16; IYLD 19355
Avg volume (30D): FTBI 7.55K sh; IYLD 18.7K sh, better
NAV per share: FTBI $21.20; IYLD $21.64
52W range

ETF.net Grade

Pillar letters and Scores for FTBI, IYLD, with each pillar’s weight
Pillar	FTBI	IYLD
Cost30% weight	D36	A79Higher
Mission25% weight	B68	A100Higher
Risk15% weight	D36	B69Higher
Tradability15% weight	C41	C53Higher
Holdings10% weight	B55	A88Higher
Durability5% weight	C45	A85Higher

Rank among Multi-Asset Income funds

How we build Categories ›

Same Category. FTBI and IYLD are both graded against the same 15 Multi-Asset Income funds, so their Grades compare head to head.

Multi-Asset Income⁠

Category · 15 funds

See all 15 ›

IYLD ranks 2nd and FTBI 11th of 15 funds in the Multi-Asset Income Category.

Rank 1AINCMFranklin Income Focus ETFScore 82
Rank 2AIYLDiShares Morningstar Multi-Asset Income ETFScore 79
Rank 3AINKMState Street Income Allocation ETFScore 72
Rank 10CFTHBFIS Faith Income ETFScore 48
Rank 11CFTBIFirst Trust Balanced Income ETFScore 47
Rank 12CDINESimplify Tax Aware Diversified Income Strategy ETFScore 40

Our read on each fund

ETF.net Research

FTBICFirst Trust Balanced Income ETF

IYLDAiShares Morningstar Multi-Asset Income ETF

In short

FTBI A one-ticker income recipe from a single kitchen: 60% option-income equity ETFs, 35% investment-grade bonds, 5% gold-linked income, all First Trust funds, reset semi-annually. Pays monthly, costs 0.98%.

IYLD One ticker, one income engine. IYLD is a fund of iShares funds, bundling equity, bond and other income funds into a single monthly-paying package that has run on the same playbook since 2012.

Stated mandate

FTBI The Fund seeks to match the price and yield, before fees and expenses, of the Bloomberg Moderate Allocation Income Focus Index. It normally invests at least 80% of net assets in the ETFs comprising that Index.

IYLD The Fund seeks to track an index of underlying equity, fixed-income, and other income funds designed to provide high current income while offering an opportunity for capital appreciation.

Why people hold it

FTBI Three asset classes in one fixed recipe: 60% equity-linked income ETFs, 35% investment-grade bond ETFs, 5% commodity-linked income, reconstituted and rebalanced semi-annually.sec.gov ftportfolios.com
Income leans on sold options, not only dividends and coupons: the equity sleeve holds buywrite and target income ETFs that collect option premiums. Distributions are monthly.ftportfolios.com
The gold sleeve is an unusual touch for multi-asset income: FLEX options referencing a gold-holding ETP, with income targeted off one-month Treasury yields.ftportfolios.com
The equity allocation splits evenly across core, growth and value styles, then equally weights the funds inside each style, so no single sleeve runs the portfolio.ftportfolios.com

IYLD A single trade buys a whole income lineup: the index it follows is built from underlying equity, fixed-income and other income funds, so the mixing and rebalancing happen inside the wrapper.ishares.com
0.50% a year, comfortably below the typical fee in its allocation peer group. Cheap for a multi-asset income build.
Pays monthly, which lines the cash flow up with how most people actually pay bills.ishares.com
Hews closely to the Morningstar Multi-Asset High Income Index it targets, one of the tighter index implementations in its peer group. No manager guesswork bolted on top.

Worth knowing

FTBI At 0.98% the fee sits above the category median. Most of it is the underlying First Trust funds' own fees, stacked beneath a 0.25% management fee.sec.gov
Higher-ranked peers charge less: INCM at 0.38%, IYLD and INKM at 0.50%, MDIV at 0.71% net of a waiver through January 31, 2027.
Every holding comes from one house, since the index universe is limited to First Trust's own income ETFs. The fund also launched in 2025 and trades thinly.sec.gov

IYLD Small and thinly traded. Expect wider bid-ask spreads than the mega-funds, which matters most on larger orders.
Income comes first here: capital appreciation is the secondary goal in its own objective, so it is built differently from a growth-tilted allocation fund.
Broad allocation rivals cost far less (IRTR at 0.08%, AOA at 0.19%), though neither is built around high current income.

Full FTBI profile⁠

Full IYLD profile⁠

FTBI vs IYLD Holdings

How FTBI and IYLD differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of FTBI and 0.0% of IYLD.

Level by level

Holdings0 in both0.0%
Countryby domicile68.5%

Sector

No Sector split for FTBI.

Country, concentration and asset class

Country by domicile

Country weights in FTBI and IYLD, widest gap first
Country	More in FTBIMore in IYLD	FTBI	IYLD
United States	FTBI +29.7 points	94.1%	64.4%
Japan	IYLD +10.2 points	0.0%	10.2%
United Kingdom	IYLD +4.3 points	1.0%	5.3%
Australia	IYLD +4.2 points	0.0%	4.2%
Puerto Rico	IYLD +3.2 points	0.2%	3.4%
France	IYLD +2.6 points	0.1%	2.7%
Canada	IYLD +1.7 points	0.9%	2.6%
Germany	IYLD +1.5 points	0.1%	1.6%
Other countries (21)	IYLD +2.0 points	3.7%	5.7%

Outside the US: IYLD 90% developed, 10% emerging.

Concentration

Weight in the 10 largest Holdings

FTBI79.1%
IYLD4.6%

Securities held

FTBI15
IYLD19,284

Asset class

FTBI: Multi-Asset
IYLD: Multi-Asset

Holdings

Only in FTBI15
In both0
Only in IYLD19,284

Only in FTBI

15 securities, 99.9% of FTBI by weight

First Trust BuyWrite Income ETF20.08%
FT Vest Technology Dividend Target Income ETF10.24%
First Trust Nasdaq BuyWrite Income ETF10.07%
First Trust Core Investment Grade ETF6.92%
First Trust Smith Opportunistic Fixed Income ETF6.89%
FT Vest DJIA® Dogs 10 Target Income ETF5.32%
FT Vest S&P 500® Dividend Aristocrats Target Income ETF®5.12%
FT Vest Rising Dividend Achievers Target Income ETF4.93%
FT Vest SMID Rising Dividend Achievers Target Income ETF4.90%
FT Vest Gold Strategy Target Income ETF®4.58%
First Trust Limited Duration Investment Grade Corporate ETF4.40%
First Trust Intermediate Duration Investment Grade Corporate ETF4.32%
First Trust Low Duration Opportunities ETF4.11%
First Trust Intermediate Government Opportunities ETF4.04%
First Trust Long Duration Opportunities ETF4.01%

Only in IYLD

19,284 securities, 99.1% of IYLD by weight

Strategy Inc0.52%
Boeing Co0.48%
Welltower0.46%
Mitsubishi Ufj Financial Group0.45%
Shell0.43%
Hsbc Holdings PLC0.41%
Nestle SA0.37%
Toyota Motor0.36%
Prologis Reit0.33%
Super Micro Computer Inc0.32%
Hewlett Packard Enterprise Conv Pr0.32%
Wells Fargo & Company Series L0.32%
Oracle Corporation0.32%
Alphabet Inc0.31%
Roche Ps Par AG0.31%
Alphabet Inc0.31%
Bhp Group Ltd0.30%
Sumitomo Mitsui Financial Group0.29%
Equinix Reit0.27%
Novartis AG0.27%
Nextera Energy Units0.26%
Allianz0.26%
Totalenergies0.26%
Nextera Energy Inc0.26%
Mizuho Financial Group0.22%
Bank of America Corp0.21%
Iberdrola0.21%
Unilever PLC0.20%
Siemens N AG0.19%
Simon Property Group Reit Inc0.19%
Digital Realty Trust Reit0.18%
Bp PLC0.18%
Banco Bilbao Vizcaya Argentaria0.18%
Mitsubishi0.18%
Citigroup Capital Xiii0.18%
National Australia Bank0.18%
Public Storage Reit0.17%
Westpac Banking Corporation0.17%
British American Tobacco0.17%
European Bank For Reconstruction A Mtn 4.27% 02/20/2028 (Ebrd)0.17%
Anz Group Holdings Ltd0.17%
Kkr & Co Inc0.16%
Zurich Insurance Group AG0.16%
Softbank Group Corp0.15%
Unicredit0.15%
Microchip Technology Incorporated0.15%
Southern Company (The)0.15%
International Bank For Reconstruct Mtn 4.37% 08/19/2027 (Ibrd)0.15%
Mitsui0.15%
European Bank For Reconstruction A Mtn 4.14% 02/16/2029 (Ebrd)0.15%

Weight gaps

FTBI and IYLD share no securities.

All 15 FTBI holdings⁠All IYLD holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FTBI vs IYLD Cost

Overpaying FTBI vs IYLD

$8,383

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FTBI 0.98%
$18,362
IYLD 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

FTBI 0.98%
IYLD 0.50%
Overpaying

Year by year

Year	FTBI	IYLD	Overpaying
10	$1,729	$900	$829
20	$6,504	$3,460	$3,044
30	$18,362	$9,979	$8,383

Expense ratio

0.98%FTBI
0.50%IYLD, cheaper

IYLD0.50%FTBI0.98%

0.15%1.37%

Middle half of Multi-Asset Income funds
Median 0.71%

IYLD 3rd cheapest of 15 funds

FTBI 10th cheapest of 15 funds

FTBI vs IYLD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FTBI 7.92%, better; IYLD 4.79%
Payout (12M): FTBI $1.68; IYLD $1.04
Last payment: FTBI $0.13; IYLD $0.08
Ex-dividend: FTBI Oct 21, 2026; IYLD Oct 2, 2026
Paid on: FTBI Oct 30, 2026; IYLD Oct 7, 2026
Frequency: FTBI Monthly; IYLD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FTBIMonthly · 17 paymentsAll FTBI payments⁠

IYLDMonthly · 45 paymentsAll IYLD payments⁠

FTBI vs IYLD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FTBI 6.4%since Jun 2025IYLD 6.3%
Return per unit of riskSharpe ratio, 3 years: FTBI 1.24since Jun 2025IYLD 0.95
Worst fallMax drawdown, 5 years: FTBI −5.3%since May 2025IYLD −22.4%
Market sensitivityBeta, 5 years: FTBI 0.47IYLD 0.60; Market = 1

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