BNDC vs. FBND

Last updated Jun 3, 2026

BNDC (FlexShares Core Select Bond Fund) and FBND (Fidelity Total Bond ETF) are both exchange-traded funds - BNDC is a Intermediate Core Bond fund actively managed by Northern Trust, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Both are actively managed. Over the past 5 years, BNDC returned -0.11%/yr vs 0.94%/yr for FBND. Their correlation of 0.81 suggests significant overlap in exposure. BNDC charges 0.35%/yr vs 0.36%/yr for FBND.

Performance

BNDC vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Core Select Bond Fund (BNDC) 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, BNDC achieves a 0.17% return, which is significantly lower than FBND's 0.70% return.

BNDC

• 1D: 0.06%
• 1M: 0.05%
• YTD: 0.17%
• 6M: 0.17%
• 1Y: 5.00%
• 3Y*: 3.77%
• 5Y*: -0.11%
• 10Y*: —

FBND

• 1D: 0.09%
• 1M: 0.23%
• YTD: 0.70%
• 6M: 0.67%
• 1Y: 5.75%
• 3Y*: 4.77%
• 5Y*: 0.94%
• 10Y*: 2.58%

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

BNDC vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BNDC FlexShares Core Select Bond Fund	0.17%	7.29%	0.86%	5.36%	-13.54%	-2.01%	8.66%	9.57%	-1.49%	3.97%
FBND Fidelity Total Bond ETF	0.70%	7.57%	2.13%	6.81%	-12.54%	-0.43%	9.41%	9.82%	-0.57%	3.52%

Correlation

The correlation between BNDC and FBND is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 22, 2016	0.81

The correlation between BNDC and FBND shifts across timeframes, from 0.81 (all time) to 0.97 (3 years), reflecting how their relationship changes across market environments.

BNDC vs. FBND - Sectors Allocation Comparison

Sectors	BNDC	FBND
Financial Services	100.0%	0.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	1.1%
Healthcare	-	-
Industrials	-	71.4%
Real Estate	-	-
Technology	-	-
Utilities	-	27.5%

Return for Risk

BNDC vs. FBND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BNDC

BNDC Risk / Return Rank: 34
BNDC Sharpe Ratio Rank: 35
BNDC Sortino Ratio Rank: 36
BNDC Omega Ratio Rank: 33
BNDC Calmar Ratio Rank: 32
BNDC Martin Ratio Rank: 32

FBND

FBND Risk / Return Rank: 41
FBND Sharpe Ratio Rank: 42
FBND Sortino Ratio Rank: 45
FBND Omega Ratio Rank: 40
FBND Calmar Ratio Rank: 41
FBND Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BNDC vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Core Select Bond Fund (BNDC) 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.

	BNDC	FBND	Difference
Sharpe ratio Return per unit of total volatility	1.26	1.50	-0.24
Sortino ratio Return per unit of downside risk	1.90	2.23	-0.33
Omega ratio Gain probability vs. loss probability	1.22	1.26	-0.04
Calmar ratio Return relative to maximum drawdown	1.63	2.06	-0.43
Martin ratio Return relative to average drawdown	4.88	6.28	-1.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNDC vs. FBND - Sharpe Ratio Comparison

The current BNDC Sharpe Ratio is 1.26, which is comparable to the FBND Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of BNDC 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.

Sharpe Ratios by Period

	BNDC	FBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	1.50	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.16	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.45	-0.24

Drawdowns

BNDC vs. FBND - Drawdown Comparison

The maximum BNDC drawdown since its inception was -18.80%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for BNDC and FBND.

Drawdown Indicators

	BNDC	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-18.80%	-17.25%	-1.55%
Max Drawdown (1Y) Largest decline over 1 year	-2.87%	-2.66%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-6.30%	-5.94%	-0.36%
Max Drawdown (5Y) Largest decline over 5 years	-18.60%	-17.25%	-1.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-17.25%	—
Current Drawdown Current decline from peak	-3.25%	-1.23%	-2.02%
Average Drawdown Average peak-to-trough decline	-7.36%	-3.35%	-4.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.88%	+0.08%

Volatility

BNDC vs. FBND - Volatility Comparison

FlexShares Core Select Bond Fund (BNDC) and Fidelity Total Bond ETF (FBND) have volatilities of 1.25% and 1.28%, 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

	BNDC	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	1.28%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	2.76%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	3.86%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.07%	5.92%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.06%	6.10%	+1.96%

BNDC vs. FBND - Expense Ratio Comparison

BNDC has a 0.35% expense ratio, which is lower than FBND's 0.36% expense ratio.

Dividends

BNDC vs. FBND - Dividend Comparison

BNDC's dividend yield for the trailing twelve months is around 4.14%, less than FBND's 4.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNDC FlexShares Core Select Bond Fund	4.14%	4.16%	3.81%	3.19%	2.64%	1.72%	2.61%	2.89%	2.86%	2.50%	0.64%	0.00%
FBND Fidelity Total Bond ETF	4.69%	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 BNDC and FBND in my portfolio?

With a correlation of 0.95, BNDC 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, BNDC or FBND?

FBND has higher volatility (1.28%) compared to BNDC (1.25%). In terms of maximum drawdown, BNDC dropped -18.80% vs FBND's -17.25%.

Which ETF is better, BNDC or FBND?

On 5-year performance, FBND leads with 0.94% vs -0.11% for BNDC. On fees, BNDC is cheaper at 0.35% per year. 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, BNDC or FBND?

Over the 5-year period, FBND has performed better with a 0.94% return vs -0.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDC or FBND?

BNDC is cheaper with a 0.35% expense ratio, compared with 0.36% for FBND.

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

FBND has the higher dividend yield at 4.69%, compared with 4.14% for BNDC.

What is the main difference between BNDC and FBND?

BNDC is categorized as Intermediate Core Bond, while FBND is Intermediate Core-Plus Bond. They also come from different issuers: Northern Trust and Fidelity. Their fees differ too: 0.35% for BNDC and 0.36% for FBND.

Which has better risk-adjusted returns?

FBND currently has the higher Sharpe Ratio (1.50 vs 1.26), 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.