FBND vs. FNDX
FBND (Fidelity Total Bond ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity, while FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. FBND is actively managed, while FNDX is passively managed. Over the past 10 years, FBND returned 2.54%/yr vs 14.45%/yr for FNDX. At a 0.06 correlation, their price movements are largely independent. FBND charges 0.36%/yr vs 0.25%/yr for FNDX.
Performance
FBND vs. FNDX - Performance Comparison
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Returns By Period
In the year-to-date period, FBND achieves a 0.70% return, which is significantly lower than FNDX's 15.49% return. Over the past 10 years, FBND has underperformed FNDX with an annualized return of 2.54%, while FNDX has yielded a comparatively higher 14.45% annualized return.
FBND
- 1D
- -0.13%
- 1M
- 1.07%
- YTD
- 0.70%
- 6M
- 1.04%
- 1Y
- 5.26%
- 3Y*
- 4.89%
- 5Y*
- 0.76%
- 10Y*
- 2.54%
FNDX
- 1D
- 0.90%
- 1M
- 3.30%
- YTD
- 15.49%
- 6M
- 14.86%
- 1Y
- 32.83%
- 3Y*
- 20.28%
- 5Y*
- 13.11%
- 10Y*
- 14.45%
FBND vs. FNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 0.70% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
FNDX Schwab Fundamental U.S. Large Company Index ETF | 15.49% | 16.94% | 16.77% | 18.23% | -6.92% | 31.73% | 9.12% | 28.65% | -7.30% | 17.12% |
Correlation
The correlation between FBND and FNDX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.06 |
Over the past year, FBND and FNDX have become more correlated (0.33) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
FBND vs. FNDX — Risk / Return Rank
FBND
FNDX
FBND vs. FNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond ETF (FBND) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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 | FNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.56 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 5.23 | -3.40 |
| Martin ratioReturn relative to average drawdown | 5.32 | 20.31 | -14.98 |
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Drawdowns
FBND vs. FNDX - Drawdown Comparison
The maximum FBND drawdown since its inception was -17.25%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for FBND and FNDX.
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Drawdown Indicators
| FBND | FNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.25% | -37.72% | +20.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -6.06% | +3.40% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -16.30% | +10.36% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -19.06% | +1.81% |
Max Drawdown (10Y)Largest decline over 10 years | -17.25% | -37.72% | +20.47% |
Current DrawdownCurrent decline from peak | -1.23% | 0.00% | -1.23% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -3.55% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.56% | -0.65% |
Volatility
FBND vs. FNDX - Volatility Comparison
The current volatility for Fidelity Total Bond ETF (FBND) is 1.35%, while Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a volatility of 3.18%. This indicates that FBND experiences smaller price fluctuations and is considered to be less risky than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBND | FNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 3.18% | -1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 7.58% | -4.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 10.45% | -6.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 15.21% | -9.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.10% | 17.51% | -11.41% |
FBND vs. FNDX - Expense Ratio Comparison
FBND has a 0.36% expense ratio, which is higher than FNDX's 0.25% expense ratio.
Dividends
FBND vs. FNDX - Dividend Comparison
FBND's dividend yield for the trailing twelve months is around 4.69%, more than FNDX's 1.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.69% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
FNDX Schwab Fundamental U.S. Large Company Index ETF | 1.44% | 1.63% | 1.76% | 1.82% | 2.07% | 1.64% | 2.29% | 2.23% | 2.40% | 1.86% | 2.01% | 2.01% |
Frequently Asked Questions
FBND and FNDX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNDX has higher volatility (3.18%) compared to FBND (1.35%). In terms of maximum drawdown, FBND dropped -17.25% vs FNDX's -37.72%.
On 10-year performance, FNDX leads with 14.45% vs 2.54% for FBND. On fees, FNDX is cheaper at 0.25% per year. On volatility, FBND has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNDX has performed better with a 14.45% return vs 2.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNDX is cheaper with a 0.25% expense ratio, compared with 0.36% for FBND.
FBND has the higher dividend yield at 4.69%, compared with 1.44% for FNDX.
FBND is categorized as Intermediate Core-Plus Bond, while FNDX is Large Cap Value Equities. They also come from different issuers: Fidelity and Charles Schwab. Their fees differ too: 0.36% for FBND and 0.25% for FNDX.
FNDX currently has the higher Sharpe Ratio (3.03 vs 1.27), 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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