DBEF vs. FBND

Last updated Jun 9, 2026

DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) and FBND (Fidelity Total Bond ETF) are both exchange-traded funds - DBEF is a Hedge Fund fund tracking the MSCI EAFE US Dollar Hedged Index, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. DBEF is passively managed, while FBND is actively managed. Over the past 10 years, DBEF returned 12.28%/yr vs 2.47%/yr for FBND. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.36% expense ratio.

Performance

DBEF vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) 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, DBEF achieves a 9.52% return, which is significantly higher than FBND's 0.10% return. Over the past 10 years, DBEF has outperformed FBND with an annualized return of 12.28%, while FBND has yielded a comparatively lower 2.47% annualized return.

DBEF

• 1D: 0.82%
• 1M: 1.44%
• YTD: 9.52%
• 6M: 11.55%
• 1Y: 22.84%
• 3Y*: 17.58%
• 5Y*: 12.96%
• 10Y*: 12.28%

FBND

• 1D: -0.07%
• 1M: -0.69%
• YTD: 0.10%
• 6M: 0.40%
• 1Y: 5.34%
• 3Y*: 4.60%
• 5Y*: 0.68%
• 10Y*: 2.47%

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

DBEF vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBEF Xtrackers MSCI EAFE Hedged Equity ETF	9.52%	23.16%	13.40%	20.15%	-5.13%	19.60%	2.03%	24.94%	-9.52%	16.74%
FBND Fidelity Total Bond ETF	0.10%	7.57%	2.13%	6.81%	-12.54%	-0.43%	9.41%	9.82%	-0.57%	3.52%

Correlation

The correlation between DBEF and FBND is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Oct 10, 2014	0.02

Over the past year, DBEF and FBND have become more correlated (0.26) than their long-term average of 0.02, meaning their price movements have been converging.

DBEF vs. FBND - Sectors Allocation Comparison

Sectors	DBEF	FBND
Financial Services	24.6%	0.2%
Industrials	19.9%	71.4%
Healthcare	10.5%	-
Technology	10.3%	-
Consumer Cyclical	7.5%	-
Consumer Defensive	6.8%	-
Basic Materials	5.9%	-
Communication Services	4.5%	-
Energy	4.1%	1.1%
Utilities	3.9%	27.5%
Real Estate	1.9%	-

Return for Risk

DBEF vs. FBND — Risk / Return Rank

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

DBEF

DBEF Risk / Return Rank: 60
DBEF Sharpe Ratio Rank: 60
DBEF Sortino Ratio Rank: 61
DBEF Omega Ratio Rank: 61
DBEF Calmar Ratio Rank: 54
DBEF Martin Ratio Rank: 62

FBND

FBND Risk / Return Rank: 44
FBND Sharpe Ratio Rank: 45
FBND Sortino Ratio Rank: 47
FBND Omega Ratio Rank: 41
FBND Calmar Ratio Rank: 45
FBND Martin Ratio Rank: 40

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.

DBEF vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) 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.

	DBEF	FBND	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.41	+0.41
Sortino ratio: Return per unit of downside risk	2.56	2.09	+0.47
Omega ratio: Gain probability vs. loss probability	1.34	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	2.44	2.01	+0.43
Martin ratio: Return relative to average drawdown	10.24	5.97	+4.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBEF vs. FBND - Sharpe Ratio Comparison

The current DBEF Sharpe Ratio is 1.83, which is comparable to the FBND Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of DBEF 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

	DBEF	FBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.41	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	0.12	+0.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.41	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.44	+0.11

Drawdowns

DBEF vs. FBND - Drawdown Comparison

The maximum DBEF drawdown since its inception was -32.46%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for DBEF and FBND.

Drawdown Indicators

	DBEF	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-32.46%	-17.25%	-15.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-2.66%	-6.75%
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	-5.94%	-8.68%
Max Drawdown (5Y) Largest decline over 5 years	-14.95%	-17.25%	+2.30%
Max Drawdown (10Y) Largest decline over 10 years	-32.46%	-17.25%	-15.21%
Current Drawdown Current decline from peak	-1.26%	-1.82%	+0.56%
Average Drawdown Average peak-to-trough decline	-4.73%	-3.35%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	0.90%	+1.34%

Volatility

DBEF vs. FBND - Volatility Comparison

Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) has a higher volatility of 3.60% compared to Fidelity Total Bond ETF (FBND) at 1.23%. This indicates that DBEF'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.

Volatility by Period

	DBEF	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	1.23%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	10.41%	2.75%	+7.66%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	3.80%	+8.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.78%	5.92%	+7.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.81%	6.10%	+9.71%

DBEF vs. FBND - Expense Ratio Comparison

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

Dividends

DBEF vs. FBND - Dividend Comparison

DBEF's dividend yield for the trailing twelve months is around 5.07%, more than FBND's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEF Xtrackers MSCI EAFE Hedged Equity ETF	5.07%	5.55%	1.29%	4.46%	15.85%	2.28%	2.41%	3.03%	3.22%	2.98%	2.55%	3.70%
FBND Fidelity Total Bond ETF	4.72%	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 DBEF and FBND in my portfolio?

DBEF and FBND have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBEF or FBND?

DBEF has higher volatility (3.60%) compared to FBND (1.23%). In terms of maximum drawdown, DBEF dropped -32.46% vs FBND's -17.25%.

Which ETF is better, DBEF or FBND?

On 10-year performance, DBEF leads with 12.28% vs 2.47% for FBND. Both ETFs have the same 0.36% expense ratio. On volatility, FBND has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBEF or FBND?

Over the 10-year period, DBEF has performed better with a 12.28% return vs 2.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBEF or FBND?

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

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

DBEF has the higher dividend yield at 5.07%, compared with 4.72% for FBND.

What is the main difference between DBEF and FBND?

DBEF is categorized as Hedge Fund, while FBND is Intermediate Core-Plus Bond. They also come from different issuers: DWS and Fidelity.

Which has better risk-adjusted returns?

DBEF currently has the higher Sharpe Ratio (1.83 vs 1.41), 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.