FBND vs. LMT

Last updated Jul 21, 2026

FBND (Fidelity Total Bond ETF) is Intermediate Core-Plus Bond fund actively managed by Fidelity, while LMT (Lockheed Martin Corporation) is a stock. Over the past 10 years, FBND returned 2.32%/yr vs 9.94%/yr for LMT. At a 0.01 correlation, their price movements are largely independent.

Performance

FBND vs. LMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Total Bond ETF (FBND) and Lockheed Martin Corporation (LMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBND achieves a 0.27% return, which is significantly lower than LMT's 6.60% return. Over the past 10 years, FBND has underperformed LMT with an annualized return of 2.32%, while LMT has yielded a comparatively higher 9.94% annualized return.

FBND

• 1D: -0.26%
• 1M: -0.60%
• 6M: 0.12%
• YTD: 0.27%
• 1Y: 4.12%
• 3Y*: 4.46%
• 5Y*: 0.52%
• 10Y*: 2.32%
• ALL TIME*: 2.53%

LMT

• 1D: 0.15%
• 1M: -0.28%
• 6M: -11.48%
• YTD: 6.60%
• 1Y: 12.79%
• 3Y*: 6.69%
• 5Y*: 8.89%
• 10Y*: 9.94%
• ALL TIME*: 12.08%

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

FBND vs. LMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBND Fidelity Total Bond ETF	0.27%	7.57%	2.13%	6.81%	-12.54%	-0.43%	9.41%	9.82%	-0.57%	3.52%
LMT Lockheed Martin Corporation	6.60%	2.47%	10.02%	-4.31%	40.48%	3.15%	-6.49%	52.55%	-16.35%	31.77%

Correlation

The correlation between FBND and LMT is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.02
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014	0.01

Return for Risk

FBND vs. LMT — Risk / Return Rank

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

FBND

FBND Risk / Return Rank: 38
FBND Sharpe Ratio Rank: 40
FBND Sortino Ratio Rank: 40
FBND Omega Ratio Rank: 36
FBND Calmar Ratio Rank: 40
FBND Martin Ratio Rank: 36

LMT

LMT Risk / Return Rank: 57
LMT Sharpe Ratio Rank: 62
LMT Sortino Ratio Rank: 55
LMT Omega Ratio Rank: 55
LMT Calmar Ratio Rank: 57
LMT Martin Ratio Rank: 57

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.

FBND vs. LMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond ETF (FBND) and Lockheed Martin Corporation (LMT). 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	LMT	Difference
Sharpe ratio: Return per unit of total volatility	1.09	0.47	+0.62
Sortino ratio: Return per unit of downside risk	1.62	0.80	+0.82
Omega ratio: Gain probability vs. loss probability	1.19	1.11	+0.08
Calmar ratio: Return relative to maximum drawdown	1.55	0.48	+1.07
Martin ratio: Return relative to average drawdown	4.22	1.03	+3.19

FBND vs. LMT - Sharpe Ratio Comparison

The current FBND Sharpe Ratio is 1.09, which is higher than the LMT Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of FBND and LMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FBND vs. LMT - Drawdown Comparison

The maximum FBND drawdown since its inception was -17.25%, smaller than the maximum LMT drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for FBND and LMT.

Drawdown Indicators

	FBND	LMT	Difference
Max Drawdown Largest peak-to-trough decline	-17.25%	-79.29%	+62.04%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-26.87%	+24.21%
Max Drawdown (3Y) Largest decline over 3 years	-5.61%	-31.79%	+26.18%
Max Drawdown (5Y) Largest decline over 5 years	-17.25%	-31.79%	+14.54%
Max Drawdown (10Y) Largest decline over 10 years	-17.25%	-36.67%	+19.42%
Current Drawdown Current decline from peak	-1.65%	-24.21%	+22.56%
Average Drawdown Average peak-to-trough decline	-3.33%	-26.82%	+23.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	12.52%	-11.54%

Volatility

FBND vs. LMT - Volatility Comparison

The current volatility for Fidelity Total Bond ETF (FBND) is 1.07%, while Lockheed Martin Corporation (LMT) has a volatility of 9.48%. This indicates that FBND experiences smaller price fluctuations and is considered to be less risky than LMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBND	LMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	9.48%	-8.41%
Volatility (6M) Calculated over the trailing 6-month period	2.92%	19.58%	-16.66%
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	27.25%	-23.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.93%	23.30%	-17.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.10%	23.94%	-17.84%

Dividends

FBND vs. LMT - Dividend Comparison

FBND's dividend yield for the trailing twelve months is around 4.72%, more than LMT's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
LMT Lockheed Martin Corporation	2.68%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%

Frequently Asked Questions

Can I hold both FBND and LMT in my portfolio?

FBND and LMT have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBND or LMT?

LMT has higher volatility (9.48%) compared to FBND (1.07%). In terms of maximum drawdown, FBND dropped -17.25% vs LMT's -79.29%.

Which has better risk-adjusted returns?

FBND currently has the higher Sharpe Ratio (1.09 vs 0.47), 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.