FT Confluence BDC & Specialty Finance Income ETF (FBDC)

The FT Confluence BDC & Specialty Finance Income ETF (FBDC) is an actively managed fund from First Trust that seeks to provide income and capital appreciation.

The fund invests mainly in U.S.-listed shares of business development companies (BDCs) and other specialty finance companies. BDCs lend to and invest in small and mid-sized private businesses and are required to distribute most of their taxable income, making them a significant source of income in the equity market.

A sub-adviser, Confluence Investment Management, selects holdings based on its research into each company's lending portfolio, credit quality and valuation, rather than tracking an index.