FBND vs. AGG
FBND (Fidelity Total Bond ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. FBND is actively managed, while AGG is passively managed. Over the past 10 years, FBND returned 2.57%/yr vs 1.57%/yr for AGG. Their correlation of 0.87 suggests significant overlap in exposure. FBND charges 0.36%/yr vs 0.03%/yr for AGG.
Performance
FBND vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, FBND achieves a 0.97% return, which is significantly higher than AGG's 0.73% return. Over the past 10 years, FBND has outperformed AGG with an annualized return of 2.57%, while AGG has yielded a comparatively lower 1.57% annualized return.
FBND
- 1D
- 0.15%
- 1M
- 1.34%
- YTD
- 0.97%
- 6M
- 1.02%
- 1Y
- 5.73%
- 3Y*
- 4.82%
- 5Y*
- 0.87%
- 10Y*
- 2.57%
AGG
- 1D
- 0.12%
- 1M
- 1.31%
- YTD
- 0.73%
- 6M
- 0.85%
- 1Y
- 5.31%
- 3Y*
- 4.10%
- 5Y*
- 0.14%
- 10Y*
- 1.57%
FBND vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 0.97% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.73% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between FBND and AGG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.87 |
The correlation between FBND and AGG shifts across timeframes, from 0.87 (all time) to 0.98 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FBND vs. AGG — Risk / Return Rank
FBND
AGG
FBND vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond ETF (FBND) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.
| FBND | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 1.93 | +0.23 |
| Martin ratioReturn relative to average drawdown | 6.26 | 5.66 | +0.60 |
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Drawdowns
FBND vs. AGG - Drawdown Comparison
The maximum FBND drawdown since its inception was -17.25%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for FBND and AGG.
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Drawdown Indicators
| FBND | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.25% | -18.43% | +1.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.76% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -6.11% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -17.82% | +0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -17.25% | -18.43% | +1.18% |
Current DrawdownCurrent decline from peak | -0.97% | -1.67% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -2.71% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.94% | -0.02% |
Volatility
FBND vs. AGG - Volatility Comparison
Fidelity Total Bond ETF (FBND) and iShares Core U.S. Aggregate Bond ETF (AGG) have volatilities of 1.17% and 1.18%, 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.
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Volatility by Period
| FBND | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.18% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 2.80% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 3.79% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 6.09% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.10% | 5.41% | +0.69% |
FBND vs. AGG - Expense Ratio Comparison
FBND has a 0.36% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
FBND vs. AGG - Dividend Comparison
FBND's dividend yield for the trailing twelve months is around 4.68%, more than AGG's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.97% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
FBND Fidelity Total Bond ETF | 4.68% | 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
With a correlation of 0.98, FBND and AGG 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.
AGG has higher volatility (1.18%) compared to FBND (1.17%). In terms of maximum drawdown, FBND dropped -17.25% vs AGG's -18.43%.
On 10-year performance, FBND leads with 2.57% vs 1.57% for AGG. On fees, AGG is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FBND has performed better with a 2.57% return vs 1.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGG is cheaper with a 0.03% expense ratio, compared with 0.36% for FBND.
FBND has the higher dividend yield at 4.68%, compared with 3.97% for AGG.
FBND is categorized as Intermediate Core-Plus Bond, while AGG is Total Bond Market. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.36% for FBND and 0.03% for AGG.
FBND currently has the higher Sharpe Ratio (1.51 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.
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