FBDC - ETF AI Analysis
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FT Confluence BDC & Specialty Finance Income ETF (FBDC)
Rating:71Outperform
Price Target:―
Positive Factors
Focused Income Strategy
The fund targets business development companies and specialty finance firms, which are designed to generate income for investors.
Exposure to Established BDC Names
Several top holdings are well-known players in the BDC space, giving investors access to recognized lenders in this niche market.
Single Holding Showing Strong Momentum
One of the top positions has shown strong recent performance, helping to offset some weakness in other holdings.
Negative Factors
Very High Expense Ratio
The fund charges a very high fee, which can significantly reduce the net returns that investors keep over time.
Weak Recent Performance
The ETF has delivered weak results so far this year and over the last few months, signaling recent performance challenges.
Heavy Concentration in U.S. Financials
Almost all assets are invested in U.S. financial companies, which increases risk if this sector or country faces a downturn.
FBDC vs. SPDR S&P 500 ETF (SPY)
AUM34.19M
RegionNorth America
Expense Ratio12.44%
Beta0.81
IssuerFirst Trust
Inception DateJun 30, 2025
Dividend Yield11.34%
Asset ClassEquity
Index TrackedNo Underlying Index
Share Statistics
EPS (TTM)N/A
Shares OutstandingN/A
10 Day Avg. Volume15,216
30 Day Avg. Volume11,363
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
19.06Price Target Upside― Downside
Rating ConsensusModerate Buy
Number of Analyst Covering19
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, such as Ares Capital and Main Street Capital, lend money to and invest in small- and mid-sized businesses. Investors might consider FBDC if they want income potential and diversification within the financial sector, while also indirectly supporting business growth. However, because it is concentrated in one niche area of finance, its value can go up and down more than a broadly diversified stock market fund.
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. business development companies, so financials are firmly in the driver’s seat. Heavyweights like Ares Capital and Golub Capital have been relatively steady lately, helping to cushion the ride, while Hercules Capital and Sixth Street Specialty Lending have been losing steam over the past few months and quietly weighing on returns. Main Street Capital has also been lagging, adding to the drag. On the brighter side, Capital Southwest has been rising, offering a bit of lift in an otherwise choppy, income-focused BDC portfolio.
Name | Company Name | Weight % | Market Value | Market Cap | Yearly Gain | Overall Rating |
|---|---|---|---|---|---|---|
| Main Street Capital | 11.69% | $3.98M | $4.76B | -7.50% | 75 Outperform | |
| Hercules Capital, Inc. | 10.49% | $3.58M | $2.93B | -9.75% | 79 Outperform | |
| Ares Capital | 10.27% | $3.50M | $13.43B | -13.14% | 80 Outperform | |
| Golub Capital Bdc | 9.42% | $3.21M | $3.40B | -12.36% | 71 Outperform | |
| Sixth Street Specialty Lending | 7.96% | $2.71M | $1.66B | -22.70% | 75 Outperform | |
| Blackstone Secured Lending Fund | 7.94% | $2.71M | $5.52B | -23.83% | 74 Outperform | |
| Blue Owl Capital | 6.44% | $2.19M | $5.52B | -21.49% | 69 Neutral | |
| Barings BDC | 5.01% | $1.71M | $899.43M | -4.77% | 76 Outperform | |
| New Mountain Finance | 4.57% | $1.56M | $766.95M | -23.40% | 66 Neutral | |
| Capital Southwest | 4.56% | $1.55M | $1.44B | 12.09% | 68 Neutral |
FBDC Technical Analysis
Negative
―
Price Trends
17.06
Negative
17.42
Negative
17.97
Negative
Market Momentum
-0.08
Positive
43.06
Neutral
-3.70
Positive
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 17.41, equal to the 50-day MA of 17.06, and equal to the 200-day MA of 17.97, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 43.06 is Neutral, neither overbought nor oversold. The STOCH value of -3.70 is Positive, 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
16.96
-2.17
-11.34%
PSR
Invesco Active U.S. Real Estate Fund
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GABF
Gabelli Financial Services Opportunities ETF
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TFNS
T. Rowe Price Financials ETF
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LBO
WHITEWOLF Publicly Listed Private Equity ETF
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AAUM
Tema Alternative Asset Managers 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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