# FT Confluence BDC & Specialty Finance Income ETF (FBDC): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/fbdc for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: First Trust · Asset class: Sector Equity - Strategy: Actively Managed · Inception: 2007-05-25 The FT Confluence BDC & Specialty Finance Income ETF (FBDC) primarily targets a significant level of ongoing income. Its secondary objective is to achieve an attractive overall return. Under typical market conditions, the Fund will commit a minimum of 80% of its net assets (including any funds borrowed for investment) to a selection of securities from Business Development Companies (BDCs) and other specialized financial entities. These are chosen by Confluence Investment Management LLC, the Fund's investment sub-advisor, because they are believed to present compelling opportunities for both... ## Key Facts | Metric | Value | |---|---| | Price | $16.48 | | Expense Ratio | 0.95% | | Assets Under Management | $34.1M | | NAV | $16.14 | | Holdings Count | 20 | | Distribution Yield (TTM) | 12.07% | | Annual Distribution (TTM) | $1.99 /share | | Distribution Frequency | Monthly | | 52-Week Range | $16.00 – $20.17 | | Beta | 0.48 | ## Latest Distribution - Amount: $0.1400 /share - Ex-date: 2026-10-21 - Pay date: 2026-10-30 ## Frequently Asked Questions ### What does FBDC invest in? The FT Confluence BDC & Specialty Finance Income ETF (FBDC) primarily targets a significant level of ongoing income. Its secondary objective is to achieve an attractive overall return. Under typical market conditions, the Fund will commit a minimum of 80% of its net assets (including any funds borrowed for investment) to a selection of securities from Business Development Companies (BDCs) and other specialized financial entities. These are chosen by Confluence Investment Management LLC, the Fund's investment sub-advisor, because they are believed to present compelling opportunities for both income generation and capital appreciation. ### What is the expense ratio of FBDC? FT Confluence BDC & Specialty Finance Income ETF (FBDC) charges an expense ratio of 0.95%. This is the annual fee deducted from fund assets to cover management and operations. ### What is FBDC's dividend yield? FBDC's trailing-twelve-month yield is 12.07%, calculated from the sum of dividends over the past year divided by the current price. ### How big is FBDC? FT Confluence BDC & Specialty Finance Income ETF (FBDC) manages $34.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is FBDC actively managed or an index fund? FBDC is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (FBDC's is 0.95%) in exchange for the discretion to over- or under-weight positions. ### When was FBDC launched? FT Confluence BDC & Specialty Finance Income ETF (FBDC) launched in May 2007 and is managed by First Trust. ### Does FBDC pay a dividend? Yes, FT Confluence BDC & Specialty Finance Income ETF (FBDC) distributes dividends to shareholders. The trailing-twelve-month yield is 12.07%. Full dividend history is on this page. ### How often does FBDC pay dividends? FT Confluence BDC & Specialty Finance Income ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is FBDC's next ex-dividend date? The most recently announced ex-dividend date for FBDC was 2026-10-21. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will FBDC's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.95% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does FBDC charge its expense ratio? The expense ratio is deducted in tiny daily slices from FBDC's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does FBDC cost more than a fund like VOO? FBDC is actively managed (current expense ratio 0.95%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether FBDC's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to FBDC? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as FBDC (0.95%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/fbdc - Distribution history: https://www.dividenddata.com/funds/fbdc/dividend - Holdings & diversification: https://www.dividenddata.com/funds/fbdc/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/fbdc/expenses - Peer comparison: https://www.dividenddata.com/funds/fbdc/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.