FBND vs. IUSB
FBND (Fidelity Total Bond ETF) and IUSB (iShares Core Universal USD Bond ETF) are both Intermediate Core-Plus Bond funds. FBND is actively managed, while IUSB is passively managed. Over the past 10 years, FBND returned 2.53%/yr vs 1.89%/yr for IUSB. Their correlation of 0.85 suggests significant overlap in exposure. FBND charges 0.36%/yr vs 0.06%/yr for IUSB.
Performance
FBND vs. IUSB - Performance Comparison
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Returns By Period
In the year-to-date period, FBND achieves a 0.61% return, which is significantly higher than IUSB's 0.54% return. Over the past 10 years, FBND has outperformed IUSB with an annualized return of 2.53%, while IUSB has yielded a comparatively lower 1.89% annualized return.
FBND
- 1D
- -0.26%
- 1M
- 0.58%
- YTD
- 0.61%
- 6M
- 0.71%
- 1Y
- 4.87%
- 3Y*
- 4.69%
- 5Y*
- 0.78%
- 10Y*
- 2.53%
IUSB
- 1D
- -0.28%
- 1M
- 0.57%
- YTD
- 0.54%
- 6M
- 0.62%
- 1Y
- 4.82%
- 3Y*
- 4.47%
- 5Y*
- 0.40%
- 10Y*
- 1.89%
FBND vs. IUSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 0.61% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
IUSB iShares Core Universal USD Bond ETF | 0.54% | 7.38% | 2.11% | 6.23% | -13.04% | -1.33% | 7.62% | 9.13% | -0.27% | 3.82% |
Correlation
The correlation between FBND and IUSB 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 | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.85 |
The correlation between FBND and IUSB shifts across timeframes, from 0.85 (all time) to 0.98 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FBND vs. IUSB — Risk / Return Rank
FBND
IUSB
FBND vs. IUSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond ETF (FBND) and iShares Core Universal USD Bond ETF (IUSB). 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 | IUSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 1.92 | -0.08 |
| Martin ratioReturn relative to average drawdown | 5.27 | 5.54 | -0.27 |
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Drawdowns
FBND vs. IUSB - Drawdown Comparison
The maximum FBND drawdown since its inception was -17.25%, roughly equal to the maximum IUSB drawdown of -17.90%. Use the drawdown chart below to compare losses from any high point for FBND and IUSB.
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Drawdown Indicators
| FBND | IUSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.25% | -17.90% | +0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.53% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -5.82% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -17.87% | +0.62% |
Max Drawdown (10Y)Largest decline over 10 years | -17.25% | -17.90% | +0.65% |
Current DrawdownCurrent decline from peak | -1.32% | -1.22% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -3.58% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.87% | +0.06% |
Volatility
FBND vs. IUSB - Volatility Comparison
Fidelity Total Bond ETF (FBND) and iShares Core Universal USD Bond ETF (IUSB) have volatilities of 1.12% and 1.08%, 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 | IUSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.08% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 2.73% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.59% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 5.80% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.10% | 5.05% | +1.05% |
FBND vs. IUSB - Expense Ratio Comparison
FBND has a 0.36% expense ratio, which is higher than IUSB's 0.06% expense ratio.
Dividends
FBND vs. IUSB - Dividend Comparison
FBND's dividend yield for the trailing twelve months is around 4.70%, more than IUSB's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.70% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
IUSB iShares Core Universal USD Bond ETF | 4.23% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
With a correlation of 0.98, FBND and IUSB 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.
FBND has higher volatility (1.12%) compared to IUSB (1.08%). In terms of maximum drawdown, FBND dropped -17.25% vs IUSB's -17.90%.
On 10-year performance, FBND leads with 2.53% vs 1.89% for IUSB. On fees, IUSB is cheaper at 0.06% 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 2.53% return vs 1.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IUSB is cheaper with a 0.06% expense ratio, compared with 0.36% for FBND.
FBND has the higher dividend yield at 4.70%, compared with 4.23% for IUSB.
They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.36% for FBND and 0.06% for IUSB.
IUSB currently has the higher Sharpe Ratio (1.35 vs 1.28), 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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