APCB vs. FBND

Last updated Aug 2, 2026

APCB (ActivePassive Core Bond ETF) and FBND (Fidelity Total Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 3 years, APCB returned 3.88%/yr vs 4.55%/yr for FBND. Their 0.96 correlation means they have historically moved very closely together. Both charge a 0.36% expense ratio.

Performance

APCB vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ActivePassive Core Bond ETF (APCB) and Fidelity Total Bond ETF (FBND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APCB achieves a -0.51% return, which is significantly lower than FBND's -0.33% return.

APCB

• 1D: -0.21%
• 1M: -1.30%
• 6M: -0.78%
• YTD: -0.51%
• 1Y: 1.90%
• 3Y*: 3.88%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.85%

FBND

• 1D: -0.27%
• 1M: -1.26%
• 6M: -0.60%
• YTD: -0.33%
• 1Y: 2.08%
• 3Y*: 4.55%
• 5Y*: 0.31%
• 10Y*: 2.27%
• ALL TIME*: 2.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
APCB ActivePassive Core Bond ETF	$1.44M	$5.18M	$2.86M
FBND Fidelity Total Bond ETF	$133.84M	$127.41M	$124.15M

APCB vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APCB ActivePassive Core Bond ETF	-0.51%	6.87%	1.45%	1.57%
FBND Fidelity Total Bond ETF	-0.33%	7.57%	2.13%	2.96%

Correlation

The correlation between APCB and FBND is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (All Time) Calculated using the full available price history since May 3, 2023	0.96

The correlation between APCB and FBND has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

APCB vs. FBND — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

APCB

APCB Risk / Return Rank: 30
APCB Sharpe Ratio Rank: 32
APCB Sortino Ratio Rank: 30
APCB Omega Ratio Rank: 29
APCB Calmar Ratio Rank: 31
APCB Martin Ratio Rank: 30

FBND

FBND Risk / Return Rank: 30
FBND Sharpe Ratio Rank: 32
FBND Sortino Ratio Rank: 30
FBND Omega Ratio Rank: 28
FBND Calmar Ratio Rank: 32
FBND Martin Ratio Rank: 31

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

APCB vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ActivePassive Core Bond ETF (APCB) and Fidelity Total Bond ETF (FBND). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	APCB	FBND	Difference
Sharpe ratio: Return per unit of total volatility	0.78	0.77	+0.01
Sortino ratio: Return per unit of downside risk	1.13	1.14	0.00
Omega ratio: Gain probability vs. loss probability	1.14	1.13	+0.01
Calmar ratio: Return relative to maximum drawdown	1.02	1.09	-0.07
Martin ratio: Return relative to average drawdown	2.58	2.77	-0.19

APCB vs. FBND - Sharpe Ratio Comparison

The current APCB Sharpe Ratio is 0.78, which is comparable to the FBND Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of APCB and FBND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APCB vs. FBND - Drawdown Comparison

The maximum APCB drawdown since its inception was -6.42%, smaller than the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for APCB and FBND.

Drawdown Indicators

	APCB	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-6.42%	-17.25%	+10.83%
Max Drawdown (1Y) Largest decline over 1 year	-2.58%	-2.66%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-4.41%	-4.95%	+0.54%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.25%	—
Current Drawdown Current decline from peak	-2.20%	-2.24%	+0.04%
Average Drawdown Average peak-to-trough decline	-1.50%	-3.32%	+1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	1.05%	-0.03%

Volatility

APCB vs. FBND - Volatility Comparison

ActivePassive Core Bond ETF (APCB) and Fidelity Total Bond ETF (FBND) have volatilities of 0.93% and 0.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APCB	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	0.95%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.63%	2.94%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	3.37%	3.77%	-0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.78%	5.93%	-1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.78%	6.10%	-1.32%

APCB vs. FBND - Expense Ratio Comparison

Both APCB and FBND have an expense ratio of 0.36%.

Dividends

APCB vs. FBND - Dividend Comparison

APCB's dividend yield for the trailing twelve months is around 4.41%, less than FBND's 4.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APCB ActivePassive Core Bond ETF	4.05%	4.35%	4.74%	2.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FBND Fidelity Total Bond ETF	4.77%	4.70%	4.73%	4.26%	3.07%	1.86%	4.25%	2.90%	2.93%	2.56%	2.84%	3.26%

Frequently Asked Questions

Can I hold both APCB and FBND in my portfolio?

With a correlation of 0.94, APCB and FBND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, APCB or FBND?

FBND has higher volatility (0.95%) compared to APCB (0.93%). In terms of maximum drawdown, APCB dropped -6.42% vs FBND's -17.25%.

Which ETF is better, APCB or FBND?

On 3-year performance, FBND leads with 4.55% vs 3.88% for APCB. Both ETFs have the same 0.36% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APCB or FBND?

Over the 3-year period, FBND has performed better with a 4.55% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APCB or FBND?

APCB and FBND have the same expense ratio: 0.36% per year.

Which ETF pays a higher dividend yield, APCB or FBND?

FBND has the higher dividend yield at 4.77%, compared with 4.05% for APCB.

What is the main difference between APCB and FBND?

They also come from different issuers: ActivePassive and Fidelity.

Which has better risk-adjusted returns?

APCB currently has the higher Sharpe Ratio (0.78 vs 0.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.