FBND vs. TQQQ

Last updated Jun 13, 2026

FBND (Fidelity Total Bond ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). FBND is actively managed, while TQQQ is passively managed. Over the past 10 years, FBND returned 2.54%/yr vs 44.55%/yr for TQQQ. At a 0.12 correlation, their price movements are largely independent. FBND charges 0.36%/yr vs 0.95%/yr for TQQQ.

Performance

FBND vs. TQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, FBND achieves a 0.70% return, which is significantly lower than TQQQ's 47.28% return. Over the past 10 years, FBND has underperformed TQQQ with an annualized return of 2.54%, while TQQQ has yielded a comparatively higher 44.55% annualized return.

FBND

• 1D: -0.13%
• 1M: 0.43%
• YTD: 0.70%
• 6M: 1.04%
• 1Y: 4.85%
• 3Y*: 4.89%
• 5Y*: 0.76%
• 10Y*: 2.54%

TQQQ

• 1D: 1.99%
• 1M: 0.36%
• YTD: 47.28%
• 6M: 47.23%
• 1Y: 106.26%
• 3Y*: 59.79%
• 5Y*: 24.34%
• 10Y*: 44.55%

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

FBND vs. TQQQ - 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%
TQQQ ProShares UltraPro QQQ	47.28%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between FBND and TQQQ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014	0.12

The correlation between FBND and TQQQ shifts across timeframes, from 0.12 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

FBND vs. TQQQ - Sectors Allocation Comparison

Sectors	FBND	TQQQ
Industrials	71.4%	2.8%
Utilities	27.5%	1.4%
Energy	1.1%	0.6%
Financial Services	0.2%	0.2%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Healthcare	-	4.2%
Real Estate	-	0.1%
Technology	-	53.8%

Return for Risk

FBND vs. TQQQ — Risk / Return Rank

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

FBND

FBND Risk / Return Rank: 40
FBND Sharpe Ratio Rank: 41
FBND Sortino Ratio Rank: 42
FBND Omega Ratio Rank: 38
FBND Calmar Ratio Rank: 41
FBND Martin Ratio Rank: 38

TQQQ

TQQQ Risk / Return Rank: 64
TQQQ Sharpe Ratio Rank: 75
TQQQ Sortino Ratio Rank: 59
TQQQ Omega Ratio Rank: 62
TQQQ Calmar Ratio Rank: 66
TQQQ Martin Ratio Rank: 59

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. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond ETF (FBND) and ProShares UltraPro QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.27	2.09	-0.81
Sortino ratio: Return per unit of downside risk	1.90	2.42	-0.52
Omega ratio: Gain probability vs. loss probability	1.22	1.32	-0.10
Calmar ratio: Return relative to maximum drawdown	1.83	2.89	-1.06
Martin ratio: Return relative to average drawdown	5.32	9.26	-3.93

FBND vs. TQQQ - Sharpe Ratio Comparison

The current FBND Sharpe Ratio is 1.27, which is lower than the TQQQ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of FBND and TQQQ, 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. TQQQ - Drawdown Comparison

The maximum FBND drawdown since its inception was -17.25%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for FBND and TQQQ.

Drawdown Indicators

	FBND	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-17.25%	-81.66%	+64.41%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-36.97%	+34.31%
Max Drawdown (3Y) Largest decline over 3 years	-5.94%	-58.04%	+52.10%
Max Drawdown (5Y) Largest decline over 5 years	-17.25%	-81.66%	+64.41%
Max Drawdown (10Y) Largest decline over 10 years	-17.25%	-81.66%	+64.41%
Current Drawdown Current decline from peak	-1.23%	-11.12%	+9.89%
Average Drawdown Average peak-to-trough decline	-3.34%	-18.51%	+15.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	11.52%	-10.61%

Volatility

FBND vs. TQQQ - Volatility Comparison

The current volatility for Fidelity Total Bond ETF (FBND) is 1.35%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 22.79%. This indicates that FBND experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBND	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	22.79%	-21.44%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	41.26%	-38.45%
Volatility (1Y) Calculated over the trailing 1-year period	3.83%	51.24%	-47.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.92%	67.02%	-61.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.10%	66.22%	-60.12%

FBND vs. TQQQ - Expense Ratio Comparison

FBND has a 0.36% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

FBND vs. TQQQ - Dividend Comparison

FBND's dividend yield for the trailing twelve months is around 4.69%, more than TQQQ's 0.41% 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%
TQQQ ProShares UltraPro QQQ	0.41%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both FBND and TQQQ in my portfolio?

FBND and TQQQ have a correlation of 0.26, 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 TQQQ?

TQQQ has higher volatility (22.79%) compared to FBND (1.35%). In terms of maximum drawdown, FBND dropped -17.25% vs TQQQ's -81.66%.

Which ETF is better, FBND or TQQQ?

On 10-year performance, TQQQ leads with 44.55% vs 2.54% for FBND. On fees, FBND is cheaper at 0.36% 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.

Which ETF has performed better, FBND or TQQQ?

Over the 10-year period, TQQQ has performed better with a 44.55% return vs 2.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBND or TQQQ?

FBND is cheaper with a 0.36% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, FBND or TQQQ?

FBND has the higher dividend yield at 4.69%, compared with 0.41% for TQQQ.

What is the main difference between FBND and TQQQ?

FBND is categorized as Intermediate Core-Plus Bond, while TQQQ is Leveraged Equities. They also come from different issuers: Fidelity and ProShares. Their fees differ too: 0.36% for FBND and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.09 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.