FBDAX vs. HOBIX

Last updated Jun 4, 2026

FBDAX (Franklin Total Return Fund) and HOBIX (Holbrook Income Fund Class I) are both Intermediate Core-Plus Bond funds. Over the past 5 years, FBDAX returned 0.10%/yr vs 4.33%/yr for HOBIX. At a 0.34 correlation, their price movements are largely independent. FBDAX charges 0.63%/yr vs 1.05%/yr for HOBIX.

Performance

FBDAX vs. HOBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Total Return Fund (FBDAX) and Holbrook Income Fund Class I (HOBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBDAX achieves a 0.57% return, which is significantly lower than HOBIX's 2.43% return.

FBDAX

• 1D: 0.00%
• 1M: 0.63%
• YTD: 0.57%
• 6M: 0.60%
• 1Y: 5.74%
• 3Y*: 4.27%
• 5Y*: 0.10%
• 10Y*: 1.75%

HOBIX

• 1D: 0.00%
• 1M: 0.48%
• YTD: 2.43%
• 6M: 2.87%
• 1Y: 6.61%
• 3Y*: 7.32%
• 5Y*: 4.33%
• 10Y*: —

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

FBDAX vs. HOBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBDAX Franklin Total Return Fund	0.57%	7.17%	2.00%	6.00%	-14.70%	-0.59%	7.39%	9.78%	-1.56%	3.71%
HOBIX Holbrook Income Fund Class I	2.43%	7.67%	7.66%	5.65%	-2.91%	6.13%	7.45%	7.70%	1.74%	2.75%

Correlation

The correlation between FBDAX and HOBIX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.34

The correlation between FBDAX and HOBIX shifts across timeframes, from 0.34 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FBDAX vs. HOBIX — Risk / Return Rank

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

FBDAX

FBDAX Risk / Return Rank: 25
FBDAX Sharpe Ratio Rank: 25
FBDAX Sortino Ratio Rank: 27
FBDAX Omega Ratio Rank: 25
FBDAX Calmar Ratio Rank: 26
FBDAX Martin Ratio Rank: 24

HOBIX

HOBIX Risk / Return Rank: 98
HOBIX Sharpe Ratio Rank: 94
HOBIX Sortino Ratio Rank: 99
HOBIX Omega Ratio Rank: 100
HOBIX Calmar Ratio Rank: 99
HOBIX Martin Ratio Rank: 99

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.

FBDAX vs. HOBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Total Return Fund (FBDAX) and Holbrook Income Fund Class I (HOBIX). 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.

	FBDAX	HOBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	3.31	-1.86
Sortino ratio: Return per unit of downside risk	2.17	10.66	-8.48
Omega ratio: Gain probability vs. loss probability	1.26	5.19	-3.93
Calmar ratio: Return relative to maximum drawdown	1.90	13.02	-11.13
Martin ratio: Return relative to average drawdown	5.93	45.38	-39.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBDAX vs. HOBIX - Sharpe Ratio Comparison

The current FBDAX Sharpe Ratio is 1.45, which is lower than the HOBIX Sharpe Ratio of 3.31. The chart below compares the historical Sharpe Ratios of FBDAX and HOBIX, 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

	FBDAX	HOBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	3.31	-1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	1.64	-1.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.85	+0.03

Drawdowns

FBDAX vs. HOBIX - Drawdown Comparison

The maximum FBDAX drawdown since its inception was -20.02%, smaller than the maximum HOBIX drawdown of -23.52%. Use the drawdown chart below to compare losses from any high point for FBDAX and HOBIX.

Drawdown Indicators

	FBDAX	HOBIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.02%	-23.52%	+3.50%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	-0.51%	-2.53%
Max Drawdown (3Y) Largest decline over 3 years	-6.07%	-2.77%	-3.30%
Max Drawdown (5Y) Largest decline over 5 years	-20.02%	-4.16%	-15.86%
Max Drawdown (10Y) Largest decline over 10 years	-20.02%	—	—
Current Drawdown Current decline from peak	-1.84%	0.00%	-1.84%
Average Drawdown Average peak-to-trough decline	-2.76%	-0.97%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	0.15%	+0.82%

Volatility

FBDAX vs. HOBIX - Volatility Comparison

Franklin Total Return Fund (FBDAX) has a higher volatility of 1.45% compared to Holbrook Income Fund Class I (HOBIX) at 0.53%. This indicates that FBDAX's price experiences larger fluctuations and is considered to be riskier than HOBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBDAX	HOBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	0.53%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	1.59%	+1.31%
Volatility (1Y) Calculated over the trailing 1-year period	3.99%	2.01%	+1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.84%	2.65%	+3.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.09%	5.73%	-0.64%

FBDAX vs. HOBIX - Expense Ratio Comparison

FBDAX has a 0.63% expense ratio, which is lower than HOBIX's 1.05% expense ratio.

Dividends

FBDAX vs. HOBIX - Dividend Comparison

FBDAX's dividend yield for the trailing twelve months is around 4.53%, less than HOBIX's 6.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBDAX Franklin Total Return Fund	4.53%	4.37%	4.05%	3.36%	3.56%	2.48%	3.18%	4.12%	3.03%	2.30%	1.85%	3.56%
HOBIX Holbrook Income Fund Class I	6.29%	6.45%	7.04%	6.35%	5.31%	3.97%	6.30%	3.51%	4.32%	2.12%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBDAX and HOBIX in my portfolio?

FBDAX and HOBIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBDAX or HOBIX?

FBDAX has higher volatility (1.45%) compared to HOBIX (0.53%). In terms of maximum drawdown, FBDAX dropped -20.02% vs HOBIX's -23.52%.

Which has better risk-adjusted returns?

HOBIX currently has the higher Sharpe Ratio (3.31 vs 1.45), 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.