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Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

FT Confluence BDC & Specialty Finance Income ETF

FBDC | Active ETF

$17.27

$34.2 M

12.16%

$2.10

12.44%

Vitals

YTD Return

-6.4%

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$34.2 M

Holdings in Top 10

77.4%

52 WEEK LOW AND HIGH

$17.0
$4.18
$21.45

Expenses

OPERATING FEES

Expense Ratio 12.44%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

FT Confluence BDC & Specialty Finance Income ETF

FBDC | Active ETF

$17.27

$34.2 M

12.16%

$2.10

12.44%

FBDC - Profile

Distributions

  • YTD Total Return -6.4%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 12.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    FT Confluence BDC & Specialty Finance Income ETF
  • Fund Family Name
    First Trust Advisors L.P
  • Inception Date
    Jun 30, 2025
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of equity securities of business development companies (“BDCs”) and other specialty finance companies that Confluence Investment Management LLC, the Fund's investment sub-advisor (the “Sub-Advisor”), believes offer attractive opportunities for income and capital appreciation. In current market conditions, the Fund anticipates that its assets will be invested primarily in securities of BDCs. BDCs are a type of specialty finance company whose principal business is to invest in and lend capital to small and medium-sized private and certain public companies that may not have access to public equity markets for capital raising. BDCs are a type of closed-end fund regulated under the Investment Company Act of 1940 (the “1940 Act”), whose shares are typically listed for trading on a U.S. securities exchange. Specialty finance companies include entities other than BDCs that provide financing to borrowers with capital needs that are different relative to traditional borrowers (which typically utilize commercial banks or public debt markets to meet their financing requirements) and often engage in asset-based and other forms of non-traditional financing activities. BDCs and other categories of specialty finance companies, including real estate investment trusts ("REITs"), which may include mortgage REITs, mortgage specialists to certain consumers, equipment leasing specialists to certain industries and equity or debt-capital providers to certain small businesses, typically pass cash flow through to their investors without being taxed at the entity level. When evaluating portfolio companies, the Sub-Advisor performs company-specific analysis on the BDCs and specialty finance companies, evaluating the capability, resources and track records of management teams. The ability to consistently deliver attractive returns to shareholders while prudently making sound capital allocation decisions are of high importance. The Sub-Advisor also evaluates the nature of risks embedded in a BDC’s or specialty finance company's primary business, as well as risks systemic to industries and the broader sector. As of February 27, 2026, the Fund expects to have significant investments in financial companies, although this may change from time to time. To the extent the Fund invests a significant portion of its assets in a given jurisdiction or investment sector, the Fund will be exposed to the risks associated with that jurisdiction or investment sector. The Fund is classified as “non-diversified” under the Investment Company Act of 1940 (the “1940 Act”).
Read More

FBDC - Performance

Return Ranking - Trailing

Period FBDC Return Category Return Low Category Return High Rank in Category (%)
YTD -6.4% N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period FBDC Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period FBDC Return Category Return Low Category Return High Rank in Category (%)
YTD -6.4% N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period FBDC Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

FBDC - Holdings

Concentration Analysis

FBDC Category Low Category High FBDC % Rank
Net Assets 34.2 M N/A N/A N/A
Number of Holdings 22 N/A N/A N/A
Net Assets in Top 10 25.5 M N/A N/A N/A
Weighting of Top 10 77.39% N/A N/A N/A

Top 10 Holdings

  1. Main Street Capital Corp. COM 12.98%
  2. Ares Capital Corp. COM 10.54%
  3. Hercules Capital Inc COM 9.66%
  4. Golub Capital BDC Inc. COM 8.89%
  5. Blackstone Secured Lending Fund COMMON STOCK 8.25%
  6. Sixth Street Specialty Lending Inc COM 8.09%
  7. Blue Owl Capital Corp. COM 5.81%
  8. Barings BDC Inc. COM 5.04%
  9. New Mountain Finance Corporation COM 4.46%
  10. FS KKR Capital Corp COM 3.67%

Asset Allocation

Weighting Return Low Return High FBDC % Rank
Stocks 		99.65% N/A N/A N/A
Cash 		0.35% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Other 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Bonds 		0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High FBDC % Rank
Utilities 		0.00% N/A N/A N/A
Technology 		0.00% N/A N/A N/A
Real Estate 		0.00% N/A N/A N/A
Industrials 		0.00% N/A N/A N/A
Healthcare 		0.00% N/A N/A N/A
Financial Services 		0.00% N/A N/A N/A
Energy 		0.00% N/A N/A N/A
Communication Services 		0.00% N/A N/A N/A
Consumer Defense 		0.00% N/A N/A N/A
Consumer Cyclical 		0.00% N/A N/A N/A
Basic Materials 		0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High FBDC % Rank
US 		99.65% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

FBDC - Expenses

Operational Fees

FBDC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 12.44% N/A N/A N/A
Management Fee 0.95% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

FBDC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

FBDC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FBDC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

FBDC - Distributions

Dividend Yield Analysis

FBDC Category Low Category High FBDC % Rank
Dividend Yield 12.16% N/A N/A N/A

Dividend Distribution Analysis

FBDC Category Low Category High Category Mod
Dividend Distribution Frequency Monthly

Net Income Ratio Analysis

FBDC Category Low Category High FBDC % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

FBDC Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

FBDC - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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