FBDCvsPSKETF Comparison
ETF 1
FBDC
FT Confluence BDC & Specialty Finance Income ETF - USD
This fund is part of
Uncategorized Equities
-0.31%
VS
ETF 2
PSK
State Street SPDR ICE Preferred Securities ETF
FT Confluence BDC & Specialty Finance Income ETF - USD (FBDC) belongs to the Uncategorized Equities segment. State Street SPDR ICE Preferred Securities ETF (PSK) is part of the segment. FBDC's top 1 sector exposures are Finance. In contrast, PSK's top sector exposures are Finance, Utilities and Telecommunications. FBDC is more expensive with a Total Expense Ratio (TER) of 12.44%, versus 0.45% for PSK. FBDC is down -4.95% year-to-date (YTD) with +$2M in YTD flows. PSK performs worse with -6.49% YTD performance, and -$70M in YTD flows. Run a side-by-side ETF comparison of FBDC and PSK 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 PSK performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FBDC PSK | -4.46%-2.66% | -3.71%-5.81% | -4.95%-6.49% | -0.62%-7.81% | n/a+11.21% | n/a-10.48% |
| Flows | FBDC PSK | +$858K-$14M | +$2M-$22M | +$2M-$70M | -$219K-$83M | --$90M | --$417M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FBDC PSK | +16.00%+6.15% | +18.14%+5.23% | n/a+7.63% | n/a+10.10% |
| Max drawdown | FBDC PSK | -8.57%-6.91% | -14.81%-9.97% | n/a-10.90% | n/a-21.99% |
| Max drawdown duration | FBDC PSK | 64d89d | 239d241d | n/a730d | n/a1804d |
Trading data
FBDC | PSK | |
Last sale 10/19/2026 at 1:30 PM | $16.17 | $28.19 |
| Previous close 10/16/2026 | $16.41 | $28.19 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 20, 2026
1-year trailing difference
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FBDC
is actively managed and doesn’t replicate an indexFBDC | PSK | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
FBDC | PSK | |
|---|---|---|
| Last price | $16.17 | $28.19 |
| 1D performance | -1.46% | +0.00% |
| AuM | $34.71 M | $629.32 M |
| E/R | 12.44% | 0.45% |
Characteristics
FBDC | PSK | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Trust | State Street Investment Management |
| Benchmark | - | ICE Exchange-Listed Fixed & Adjustable Rate Preferred Securities Index |
| N° of holdings | 20 | 95 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 27, 2025 | September 16, 2009 |
| ESG | No | No |
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Exposure
Countries
FBDC
USA
95.59%
Other
4.41%
PSK
USA
94.22%
Other
5.78%
Sectors
FBDC
Finance
95.59%
Other
4.41%
PSK
Finance
77.64%
Utilities
14.73%
Other
7.63%
Diversification
FBDC
Total weight of top 15 holdings out of 15
89.25%
PSK
Total weight of top 15 holdings out of 15
20.28%
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%
PSK
Citigroup, 7.875% 30oct2040, USD
3.30%
Wells Fargo & Co.
1.59%
Capital One Financial Corp.
1.47%
AT&T Inc, 5.35% 1nov2066, USD
1.44%
Duke Energy Corp.
1.34%
The Allstate Corp.
1.20%
Capital One Financial Corp.
1.18%
JPMorgan Chase & Co.
1.16%
Athene Holding Ltd.
1.15%
NextEra Energy Capital Holdings, 6.5% 1jun2085, USD (U)
1.14%
Xcel Energy, 6.25% 15oct2085, USD
1.14%
M&T Bank Corp.
1.11%
Southern Co., 4.95% 30jan2080, USD (2020A)
1.03%
U.S. Bancorp
1.02%
Reinsurance Group of America, 7.125% 15oct2052, USD
1.01%
Frequently asked questions about FBDC and PSK
How have the FBDC and PSK ETFs performed in 2026?
As of October 16, 2026, FBDC is down -4.95% year-to-date (YTD), while PSK has lost -6.49%. That puts FBDC better performer ahead so far this year.
Which ETF is attracting more investor money: FBDC or PSK?
Year-to-date, the FBDC ETF saw +$2M in flows, compared to -$70M for PSK.
Which ETF is more volatile: FBDC or PSK?
Over the past year, FBDC had a volatility of 18.14%, while PSK experienced 5.23%.
Which ETF is bigger: FBDC or PSK?
As of October 16, 2026, FBDC holds $34.71 M in assets under management (AUM), while PSK manages $629.32 M.
What sectors do the FBDC and PSK ETFs invest in?
FBDC leans toward sectors like Finance. Meanwhile, PSK focuses on Finance and Utilities.
What are the top holdings of the FBDC ETF and PSK ETF?
FBDC top holdings include Main Street Capital Corp, Hercules Capital, Inc. and Ares Capital Corp.. PSK holds in its top three: Citigroup, 7.875% 30oct2040, USD, Wells Fargo & Co. and Capital One Financial Corp..
Which ETF is more diversified: FBDC or PSK?
FBDC holds 20 securities with 89.25% of its assets in the top 15. PSK has 165 securities and a top 15 weight of 20.28%.
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