FBDC - ETF AI Analysis
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FT Confluence BDC & Specialty Finance Income ETF (FBDC)
Rating:69Neutral
Price Target:―
Positive Factors
Focused Income Strategy
The fund concentrates on business development companies and specialty finance firms, which are designed to generate steady income from lending activities.
Meaningful Asset Base
The ETF has built a moderate level of assets under management, suggesting there is some investor interest and liquidity in the strategy.
Clear Sector and Country Focus
With almost all holdings in U.S. financial companies, investors know exactly what type of exposure they are getting.
Negative Factors
Very High Expense Ratio
The fund charges a very high annual fee, which can significantly eat into investor returns over time.
Weak Recent Performance
The ETF’s returns so far this year have been negative, and several of its top holdings have shown weak performance.
Heavy Concentration in U.S. Financials
Almost all assets are in U.S. financial stocks, which increases risk if this single sector or country faces a downturn.
FBDC vs. SPDR S&P 500 ETF (SPY)
AUM35.20M
RegionNorth America
Expense Ratio12.44%
Beta0.81
IssuerFirst Trust
Inception DateJun 30, 2025
Dividend Yield12.27%
Asset ClassEquity
Index TrackedNo Underlying Index
Share Statistics
EPS (TTM)N/A
Shares OutstandingN/A
10 Day Avg. Volume15,073
30 Day Avg. Volume12,168
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
18.58Price Target Upside― Downside
Rating ConsensusModerate Buy
Number of Analyst Covering20
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
FBDC Summary
FBDC is an actively managed ETF that focuses on U.S. financial companies called business development companies (BDCs) and specialty finance firms, rather than tracking a set index. These companies lend money to and invest in smaller and mid-sized businesses. Well-known holdings include Ares Capital and Main Street Capital. Investors might consider FBDC if they want income and diversification within the financial sector, with the potential for long-term growth. A key risk is that it is heavily concentrated in financial stocks, so its price can move up or down sharply with changes in interest rates and the health of the credit markets.
How much will it cost me?The expense ratio for the FT Confluence BDC & Specialty Finance Income ETF (Ticker: FBDC) is 13.69%, which means you’ll pay $136.90 per year for every $1,000 invested. This is significantly higher than average because the fund is actively managed, requiring more resources to select and monitor investments in its niche sector.
What would affect this ETF?FBDC could benefit from economic growth in the U.S., as its focus on business development companies and specialty finance firms supports small- to mid-sized businesses, which thrive in expanding economies. However, rising interest rates or tighter credit conditions could negatively impact the profitability of its holdings, as these factors may increase borrowing costs and reduce demand for financing. Additionally, regulatory changes in the financial sector could create uncertainty for the ETF's niche focus.
FBDC Top 10 Holdings
FBDC is tightly focused on U.S. BDCs and specialty finance names, so this fund lives and dies by the niche corners of financials. Main Street Capital, Hercules Capital, and Ares Capital are the core engines, with generally steady to rising multi‑month trends helping to offset recent softness. Sixth Street Specialty Lending and Golub Capital have been more mixed, occasionally losing steam and weighing on short‑term results. New Mountain Finance has been notably lagging, acting as a drag. Overall, it’s a concentrated, income‑oriented U.S. financials play rather than a broad market bet.
Name | Company Name | Weight % | Market Value | Market Cap | Yearly Gain | Overall Rating |
|---|---|---|---|---|---|---|
| Main Street Capital | 12.57% | $4.36M | $5.03B | -2.47% | 75 Outperform | |
| Hercules Capital, Inc. | 11.48% | $3.98M | $3.09B | -1.14% | 79 Outperform | |
| Ares Capital | 9.68% | $3.36M | $13.33B | -1.80% | 80 Outperform | |
| Golub Capital Bdc | 9.18% | $3.18M | $3.14B | -9.23% | 71 Outperform | |
| Sixth Street Specialty Lending | 8.30% | $2.87M | $1.65B | -16.83% | 75 Outperform | |
| Blackstone Secured Lending Fund | 6.85% | $2.37M | $5.56B | -4.64% | 74 Outperform | |
| Blue Owl Capital | 6.17% | $2.14M | $4.99B | -16.65% | 69 Neutral | |
| Capital Southwest | 5.33% | $1.85M | $1.50B | 20.90% | 68 Neutral | |
| Barings BDC | 5.21% | $1.80M | $892.10M | 1.31% | 76 Outperform | |
| New Mountain Finance | 4.01% | $1.39M | $635.66M | -24.64% | 66 Neutral |
FBDC Technical Analysis
Negative
―
Price Trends
17.22
Negative
16.81
Negative
16.82
Negative
Market Momentum
-0.19
Positive
36.75
Neutral
25.76
Neutral
Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For FBDC, the sentiment is Negative. The current price of undefined is equal to the 20-day moving average (MA) of 16.95, equal to the 50-day MA of 17.22, and equal to the 200-day MA of 16.82, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 36.75 is Neutral, neither overbought nor oversold. The STOCH value of 25.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FBDC.
FBDC Peer Comparison
Comparison Results
Performance Comparison
FBDC
FT Confluence BDC & Specialty Finance Income ETF
16.51
-0.41
-2.42%
SOXY
YieldMax Target 12 Semiconductor Option Income ETF
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―
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PSR
Invesco Active U.S. Real Estate Fund
―
―
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GABF
Gabelli Financial Services Opportunities ETF
―
―
―
TFNS
T. Rowe Price Financials ETF
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―
―
LBO
WHITEWOLF Publicly Listed Private Equity ETF
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Glossary
BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
DisclaimerThis AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―
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