FBND vs. DBEF
FBND (Fidelity Total Bond ETF) and DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) are both exchange-traded funds - FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity, while DBEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE US Dollar Hedged Index. FBND is actively managed, while DBEF is passively managed. Over the past 10 years, FBND returned 2.31%/yr vs 12.22%/yr for DBEF. At a 0.02 correlation, their price movements are largely independent. FBND charges 0.36%/yr vs 0.35%/yr for DBEF.
Performance
FBND vs. DBEF - Performance Comparison
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Returns By Period
In the year-to-date period, FBND achieves a 0.12% return, which is significantly lower than DBEF's 13.76% return. Over the past 10 years, FBND has underperformed DBEF with an annualized return of 2.31%, while DBEF has yielded a comparatively higher 12.22% annualized return.
FBND
- 1D
- -0.15%
- 1M
- -0.75%
- 6M
- 0.31%
- YTD
- 0.12%
- 1Y
- 3.63%
- 3Y*
- 4.40%
- 5Y*
- 0.45%
- 10Y*
- 2.31%
- ALL TIME*
- 2.52%
DBEF
- 1D
- 1.24%
- 1M
- 0.05%
- 6M
- 10.88%
- YTD
- 13.76%
- 1Y
- 27.46%
- 3Y*
- 18.38%
- 5Y*
- 13.77%
- 10Y*
- 12.22%
- ALL TIME*
- 10.36%
FBND vs. DBEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
DBEF Xtrackers MSCI EAFE Hedged Equity ETF | 13.76% | 23.16% | 13.40% | 20.15% | -5.13% | 19.60% | 2.03% | 24.94% | -9.52% | 16.74% |
Correlation
The correlation between FBND and DBEF is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.02 |
Over the past year, FBND and DBEF have become more correlated (0.30) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
FBND vs. DBEF — Risk / Return Rank
FBND
DBEF
FBND vs. DBEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond ETF (FBND) and Xtrackers MSCI EAFE Hedged Equity ETF (DBEF). 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 | DBEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.39 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 2.93 | -1.56 |
| Martin ratioReturn relative to average drawdown | 3.70 | 12.22 | -8.52 |
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Drawdowns
FBND vs. DBEF - Drawdown Comparison
The maximum FBND drawdown since its inception was -17.25%, smaller than the maximum DBEF drawdown of -32.46%. Use the drawdown chart below to compare losses from any high point for FBND and DBEF.
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Drawdown Indicators
| FBND | DBEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.25% | -32.46% | +15.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -9.41% | +6.75% |
Max Drawdown (3Y)Largest decline over 3 years | -5.61% | -14.62% | +9.01% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -14.95% | -2.30% |
Max Drawdown (10Y)Largest decline over 10 years | -17.25% | -32.46% | +15.21% |
Current DrawdownCurrent decline from peak | -1.80% | -1.17% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -3.33% | -4.70% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 2.25% | -1.27% |
Volatility
FBND vs. DBEF - Volatility Comparison
The current volatility for Fidelity Total Bond ETF (FBND) is 1.03%, while Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) has a volatility of 3.65%. This indicates that FBND experiences smaller price fluctuations and is considered to be less risky than DBEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBND | DBEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 3.65% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 11.13% | -8.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 13.08% | -9.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 13.81% | -7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.10% | 15.58% | -9.48% |
FBND vs. DBEF - Expense Ratio Comparison
FBND has a 0.36% expense ratio, which is higher than DBEF's 0.35% expense ratio.
Dividends
FBND vs. DBEF - Dividend Comparison
FBND's dividend yield for the trailing twelve months is around 4.72%, more than DBEF's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBEF Xtrackers MSCI EAFE Hedged Equity ETF | 2.29% | 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
FBND and DBEF have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBEF has higher volatility (3.65%) compared to FBND (1.03%). In terms of maximum drawdown, FBND dropped -17.25% vs DBEF's -32.46%.
On 10-year performance, DBEF leads with 12.22% vs 2.31% for FBND. On fees, DBEF is cheaper at 0.35% per year. On volatility, FBND has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBEF has performed better with a 12.22% return vs 2.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBEF is cheaper with a 0.35% expense ratio, compared with 0.36% for FBND.
FBND has the higher dividend yield at 4.72%, compared with 2.29% for DBEF.
FBND is categorized as Intermediate Core-Plus Bond, while DBEF is Foreign Large Cap Equities. They also come from different issuers: Fidelity and DWS. Their fees differ too: 0.36% for FBND and 0.35% for DBEF.
DBEF currently has the higher Sharpe Ratio (2.11 vs 0.96), 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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