Summary
FT Confluence BDC & Specialty Finance Income ETF is an ETF - a fund traded on an exchange like a stock - run by First Trust. Positions inside: 21. The ten largest make up 78% of the fund.
- Yearly costs
- 0.95%
- Fund size
- $34.7M
- Positions
- 21
- Dividend yield
- 3.90%
- Running since
- 2007
What speaks for it
- It has been running since 2007.
What to watch
- The ten largest positions make up 78% of the fund, so its result rests on a few names.
- 97% of the fund is in one country (United States).
- Costs of 0.95% a year are above the middle of comparable funds (0.44%).
- A small fund with $34.7M under management; small funds get closed more often.
- It trades little: only about $184.3K changes hands a day.
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- -7.7%
- 3 months
- -4.5%
- This year
- -17%
- 1 year
- -16%
- Avg. market cap
- $3.91B
- P/E
- 12.2x
- Forward P/E
- 8.5x
- P/S
- 4.5x
- P/B
- 0.0x
- P/FCF
- 5.3x
- EV/EBITDA
- -
- Dividend yield
- 12.32%
- ROIC
- -
- ROE
- 7.4%
- Gross margin
- -
- Operating margin
- 57.3%
- Net margin
- 37.1%
- Payout ratio
- 149.7%
- Net debt/EBITDA
- -
- Beta
- 0.48
Weighted average of the 20 largest companies, which make up 97% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Concentrated- 1 MAMain Street Capital Corporation MAIN 13%
- 2 HTHercules Capital, Inc. HTGC 11%
- 3 ARAres Capital Corporation ARCC 9.7%
- 4 GBGolub Capital BDC, Inc. GBDC 9.2%
- 5 TSSixth Street Specialty Lending, Inc. TSLX 8.1%
- 6 BXBlackstone Secured Lending Fund BXSL 6.8%
- 7 OBBlue Owl Capital Corporation OBDC 6.2%
- 8 CSCapital Southwest Corporation CSWC 5.2%
- 9 BBBarings BDC, Inc. BBDC 5.1%
- 10 NMNew Mountain Finance Corporation NMFC 4.0%
Positions in the fund: 21. The ten largest make up 78% of it.
Composition as of Oct 18, 2026.
Where is it spread?
One countryBy country
- United States 97%
- Other countries 3.2%
By company size
- Large cap 10%
- Mid cap 50%
- Small cap 39%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M.
Largest country: United States (97%). Largest size group: Mid cap (50%).
What does it cost me?
Expensive- A year from $10,000
- $95.00
- Over 20 years
- $4,410
From every $10,000 invested the fund takes $95.00 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $4,410.
How has it done?
Losing value- Over the last year
- -16%
- Deepest drop
- -28%
- Yearly volatility
- 19%
Decline over the last year: 16%. Deepest drop in these years: 28% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 3.90%
- Last payment
- $0.15
Over the last 12 months it paid $0.63 per share, which is 3.90% of today's price. The last payment was $0.15 on Sep 24, 2026.
Is it easy to buy and sell?
It trades little- Traded a day
- $184.3K
- Shares a day
- 11K
On an average day about $184.3K of the fund changes hands.
How expensive are the companies inside?
Rather cheap- P/E of the companies inside
- 12.2
- Average Bulios Score
- 72 out of 100
Weight by Bulios Fair Price
- Undervalued 98%
- Fairly valued 0.0%
- Overvalued 2.3%
On average the companies inside trade for 12.2 times their yearly profit. By Fair Price, 98% of the rated weight comes out as undervalued.
Counted from its largest companies (20), which make up 97% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
Similar funds
Funds that hold much of the same. The overlap says how much of their weight they share with this fund.
| Fund | Domicile | Size | 1-year change | Dividends | ||
|---|---|---|---|---|---|---|
PB PBDC Putnam BDC Income ETF | United States | 11.77% | $265.2M | -18% | Pays out | 61% |
BI BIZD VanEck BDC Income ETF | United States | 9.69% | $1.42B | -17% | Pays out | 47% |
PE PEX ProShares Global Listed Private Equity ETF | United States | 2.75% | $10.2M | -15% | Pays out | 37% |
LB LBO WHITEWOLF Publicly Listed Private Equity ETF | United States | 6.53% | $6.05M | -17% | Pays out | 28% |
VP VPC Virtus Private Credit Strategy ETF | United States | 10.60% | $27.2M | -25% | Pays out | 27% |
HY HYIN WisdomTree Private Credit & Alternative Income Fund | United States | 0.50% | $44.9M | -26% | Pays out | 26% |