BYLD vs. FBND
Compare and contrast key facts about iShares Yield Optimized Bond ETF (BYLD) and Fidelity Total Bond ETF (FBND).
BYLD and FBND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BYLD is a passively managed fund by iShares that tracks the performance of the Morningstar U.S. Bond Market Yield-Optimized Index. It was launched on Apr 22, 2014. FBND is an actively managed fund by Fidelity. It was launched on Oct 6, 2014.
Performance
BYLD vs. FBND - Performance Comparison
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BYLD vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 0.02% | 8.41% | 4.17% | 8.30% | -10.33% | -1.25% | 4.25% | 12.79% | -1.50% | 4.75% |
FBND Fidelity Total Bond ETF | 0.12% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
Returns By Period
In the year-to-date period, BYLD achieves a 0.02% return, which is significantly lower than FBND's 0.12% return. Over the past 10 years, BYLD has outperformed FBND with an annualized return of 3.03%, while FBND has yielded a comparatively lower 2.78% annualized return.
BYLD
- 1D
- 0.22%
- 1M
- -1.20%
- YTD
- 0.02%
- 6M
- 1.02%
- 1Y
- 5.97%
- 3Y*
- 6.12%
- 5Y*
- 2.20%
- 10Y*
- 3.03%
FBND
- 1D
- -0.02%
- 1M
- -1.32%
- YTD
- 0.12%
- 6M
- 0.77%
- 1Y
- 4.53%
- 3Y*
- 4.42%
- 5Y*
- 1.01%
- 10Y*
- 2.78%
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BYLD vs. FBND - Expense Ratio Comparison
BYLD has a 0.17% expense ratio, which is lower than FBND's 0.36% expense ratio.
Return for Risk
BYLD vs. FBND — Risk / Return Rank
BYLD
FBND
BYLD vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Yield Optimized Bond ETF (BYLD) 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.
| BYLD | FBND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.30 | 1.03 | +0.28 |
Sortino ratioReturn per unit of downside risk | 1.83 | 1.44 | +0.39 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.18 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.28 | 1.69 | +0.59 |
Martin ratioReturn relative to average drawdown | 8.29 | 5.25 | +3.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BYLD | FBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.03 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.17 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.46 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.44 | +0.11 |
Correlation
The correlation between BYLD and FBND is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BYLD vs. FBND - Dividend Comparison
BYLD's dividend yield for the trailing twelve months is around 5.35%, more than FBND's 4.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 5.35% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
FBND Fidelity Total Bond ETF | 4.73% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
Drawdowns
BYLD vs. FBND - Drawdown Comparison
The maximum BYLD drawdown since its inception was -14.75%, smaller than the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for BYLD and FBND.
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Drawdown Indicators
| BYLD | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -17.25% | +2.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.79% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -14.65% | -17.25% | +2.60% |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | -17.25% | +2.50% |
Current DrawdownCurrent decline from peak | -1.54% | -1.80% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -3.38% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.90% | -0.15% |
Volatility
BYLD vs. FBND - Volatility Comparison
iShares Yield Optimized Bond ETF (BYLD) has a higher volatility of 2.00% compared to Fidelity Total Bond ETF (FBND) at 1.66%. This indicates that BYLD's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BYLD | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 1.66% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.71% | 2.62% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.61% | 4.44% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.16% | 5.90% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 6.08% | -0.65% |