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Investment Objective/Strategy - The FT Confluence BDC & Specialty Finance Income ETF (the "Fund") seeks a high level of current income. As a secondary objective, the Fund seeks an attractive total return. 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 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.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | FBDC |
Fund Type | Financials |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon Corp |
Portfolio Manager/Sub-Advisor | Confluence Investment Management LLC |
CUSIP | 33740F110 |
ISIN | US33740F1104 |
Intraday NAV | FBDCIV |
Fiscal Year-End | 11/30 |
Exchange | NYSE Arca |
Inception | 5/25/2007 |
Inception Price | $20.00 |
Inception NAV | $19.10 |
Management Fees | 0.95% |
Acquired Fund Fees and Expenses | 12.74% |
Total Expense Ratio | 13.69% |
As of Date 6/30/2025
Closing NAV1 | $4.37 |
Closing Market Price2 | $4.35 |
Bid/Ask Midpoint | $4.36 |
Bid/Ask Discount | 0.23% |
30-Day Median Bid/Ask Spread (as of 7/10/2025)3 | 0.23% |
Total Net Assets | $49,680,681 |
Outstanding Shares | 11,367,593 |
Daily Volume | 51,342 |
Average 30-Day Daily Volume | 152,643 |
Closing Market Price 52-Week High/Low | $4.61 / $3.62 |
Closing NAV 52-Week High/Low | $4.73 / $3.67 |
Number of Holdings (excluding cash) | 21 |
Holding |
Percent |
Main Street Capital Corporation |
11.00% |
Ares Capital Corporation |
9.98% |
Hercules Capital, Inc. |
9.85% |
Sixth Street Specialty Lending, Inc. |
8.78% |
Golub Capital BDC, Inc. |
8.65% |
Blackstone Secured Lending Fund |
8.02% |
Blue Owl Capital Corporation |
5.82% |
FS KKR Capital Corp. |
5.67% |
New Mountain Finance Corporation |
4.84% |
Barings BDC, Inc. |
4.34% |
*Â Excluding cash.Â
Holdings are subject to change.
Past performance is not indicative of future results.
Maximum Market Cap. | $15,244 |
Median Market Cap. | $1,206 |
Minimum Market Cap. | $523 |
Price/Earnings | 11.89 |
Price/Book | 1.10 |
Price/Cash Flow | 11.86 |
Price/Sales | 4.59 |
|
2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Days Traded at Premium |
0 |
0 |
0 |
0 |
Days Traded at Discount |
0 |
0 |
1 |
8 |
Blended Benchmark - The Benchmark consists of a 70/20/10 blend of the MarketVector™ US Business Development Companies Liquid Index which tracks the performance of the largest and most liquid Business Development Companies that are listed and incorporated in the United States, the FTSE NAREIT Mortgage REIT Index which is a free-float adjusted, market capitalization-weighted index of U.S. Mortgage REITs and the S&P SmallCap Financials Index which is comprised of the S&P SmallCap 600 companies that are classified as members of the GICS® Financials sector. The Blended Benchmark return is calculated by using the monthly return of the three indices during each period shown above. At the beginning of each month, the three indices are rebalanced, to account for divergence from that ratio that occurred during the course of each month to the ratios noted above. The monthly returns are then compounded for each period shown above, giving the performance for the Blended Benchmark for each period shown above. MarketVector™ US Business Development Companies Liquid Index - The Index tracks the performance of the largest and most liquid Business Development Companies that are listed and incorporated in the United States. MSCI USA IMI Financials Index - The Index is designed to measure the performance of the large, mid and small cap segments of the US Financials sector equity universe. S&P 500® Index - The Index is an unmanaged index of 500 companies used to measure large-cap U.S. stock market performance.
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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