FBDCvsPGFETF Comparison
ETF 1
FBDC
FT Confluence BDC & Specialty Finance Income ETF - USD
This fund is part of
Uncategorized Equities
-1.52%
VS
ETF 2
PGF
Invesco Financial Preferred ETF
FT Confluence BDC & Specialty Finance Income ETF - USD (FBDC) belongs to the Uncategorized Equities segment. Invesco Financial Preferred ETF (PGF) is part of the segment. Both ETFs have the same top 1 sector exposures: Finance. FBDC is more expensive with a Total Expense Ratio (TER) of 12.44%, versus 0.56% for PGF. FBDC is down -4.79% year-to-date (YTD) with +$2M in YTD flows. PGF performs worse with -9.81% YTD performance, and -$95M in YTD flows. Run a side-by-side ETF comparison of FBDC and PGF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FBDC vs PGF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/13/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FBDC PGF | -4.29%-3.18% | -0.44%-7.24% | -4.79%-9.81% | -0.85%-10.75% | n/a+9.51% | n/a-13.75% |
| Flows | FBDC PGF | +$858K-$20M | +$2M-$38M | +$2M-$95M | -$219K-$103M | --$286M | --$718M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FBDC PGF | +15.68%+5.99% | +18.17%+5.51% | n/a+8.11% | n/a+10.60% |
| Max drawdown | FBDC PGF | -8.38%-8.02% | -14.81%-12.09% | n/a-13.17% | n/a-23.19% |
| Max drawdown duration | FBDC PGF | 61d87d | 239d352d | n/a728d | n/a1802d |
Trading data
FBDC | PGF | |
Last sale 10/14/2026 at 7:59 PM | $16.39 | $12.79 |
| Previous close 10/14/2026 | $16.47 | $12.62 |
| Consolidated volume 10/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 15, 2026
1-year trailing difference
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FBDC
is actively managed and doesn’t replicate an indexFBDC | PGF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/14/2026 at 7:59 PM
Live
Closed
FBDC | PGF | |
|---|---|---|
| Last price | $16.39 | $12.79 |
| 1D performance | -0.49% | +1.31% |
| AuM | $34.77 M | $595.13 M |
| E/R | 12.44% | 0.56% |
Characteristics
FBDC | PGF | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Trust | Invesco |
| Benchmark | - | ICE Exchange-Listed Fixed Rate Financial Preferred Securities Index |
| N° of holdings | 20 | 42 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 27, 2025 | December 1, 2006 |
| ESG | No | No |
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Exposure
Countries
FBDC
USA
95.59%
Other
4.41%
PGF
USA
96.34%
Other
3.66%
Sectors
FBDC
Finance
95.59%
Other
4.41%
PGF
Finance
100%
Other
0%
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Diversification
FBDC
Total weight of top 15 holdings out of 15
89.25%
PGF
Total weight of top 15 holdings out of 15
28.57%
Top 15 holdings
Data as of August 31, 2026
FBDC
Main Street Capital Corp
12.58%
Hercules Capital, Inc.
11.40%
Ares Capital Corp.
9.64%
Golub Capital BDC, Inc.
9.07%
Sixth Street Specialty Lending, Inc.
8.18%
Blackstone Secured Lending Fund
6.57%
Blue Owl Capital Corp.
6.44%
Barings BDC, Inc.
5.27%
Capital Southwest Corp
4.70%
New Mountain Finance Corp.
4.14%
MidCap Financial Investment Corp
2.64%
Bain Capital Specialty Finance, Inc.
2.33%
Oaktree Specialty Lending Corp.
2.31%
Morgan Stanley Direct Lending Fund
2.09%
Kayne Anderson BDC, Inc.
1.89%
PGF
JPMorgan Chase & Co.
2.82%
JPMorgan Chase & Co.
2.42%
Wells Fargo & Co.
2.29%
JPMorgan Chase & Co.
2.07%
JPMorgan Chase & Co.
2.06%
Bank of America Corp.
2.03%
Capital One Financial Corp.
1.81%
Bank of America Corp.
1.79%
The Allstate Corp.
1.70%
JPMorgan Chase & Co.
1.66%
Athene Holding Ltd.
1.62%
M&T Bank Corp.
1.58%
Bank of America Corp.
1.57%
Morgan Stanley
1.57%
Morgan Stanley
1.56%
Frequently asked questions about FBDC and PGF
How have the FBDC and PGF ETFs performed in 2026?
As of October 13, 2026, FBDC is down -4.79% year-to-date (YTD), while PGF has lost -9.81%. That puts FBDC better performer ahead so far this year.
Which ETF is attracting more investor money: FBDC or PGF?
Year-to-date, the FBDC ETF saw +$2M in flows, compared to -$95M for PGF.
Which ETF is more volatile: FBDC or PGF?
Over the past year, FBDC had a volatility of 18.17%, while PGF experienced 5.51%.
Which ETF is bigger: FBDC or PGF?
As of October 13, 2026, FBDC holds $34.77 M in assets under management (AUM), while PGF manages $595.13 M.
What sectors do the FBDC and PGF ETFs invest in?
FBDC leans toward sectors like Finance. Meanwhile, PGF focuses on Finance.
What are the top holdings of the FBDC ETF and PGF ETF?
FBDC top holdings include Main Street Capital Corp, Hercules Capital, Inc. and Ares Capital Corp.. PGF holds in its top three: JPMorgan Chase & Co., JPMorgan Chase & Co. and Wells Fargo & Co..
Which ETF is more diversified: FBDC or PGF?
FBDC holds 20 securities with 89.25% of its assets in the top 15. PGF has 100 securities and a top 15 weight of 28.57%.
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