FBNDX vs. FTBFX
FBNDX (Fidelity Investment Grade Bond Fund) and FTBFX (Fidelity Total Bond Fund) are both mutual funds - FBNDX is a Intermediate Core Bond fund actively managed by Fidelity, while FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FBNDX returned 2.10%/yr vs 2.46%/yr for FTBFX. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.
Performance
FBNDX vs. FTBFX - Performance Comparison
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Returns By Period
In the year-to-date period, FBNDX achieves a 0.34% return, which is significantly lower than FTBFX's 0.57% return. Over the past 10 years, FBNDX has underperformed FTBFX with an annualized return of 2.10%, while FTBFX has yielded a comparatively higher 2.46% annualized return.
FBNDX
- 1D
- 0.28%
- 1M
- 0.89%
- YTD
- 0.34%
- 6M
- 0.66%
- 1Y
- 4.54%
- 3Y*
- 4.08%
- 5Y*
- -0.04%
- 10Y*
- 2.10%
FTBFX
- 1D
- 0.21%
- 1M
- 0.89%
- YTD
- 0.57%
- 6M
- 0.92%
- 1Y
- 5.08%
- 3Y*
- 4.76%
- 5Y*
- 0.58%
- 10Y*
- 2.46%
FBNDX vs. FTBFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 0.34% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 3.92% |
FTBFX Fidelity Total Bond Fund | 0.57% | 7.50% | 2.13% | 7.25% | -13.58% | -0.44% | 9.34% | 9.89% | -0.66% | 4.19% |
Correlation
The correlation between FBNDX and FTBFX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2002 | 0.94 |
The correlation between FBNDX and FTBFX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
FBNDX vs. FTBFX — Risk / Return Rank
FBNDX
FTBFX
FBNDX vs. FTBFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Bond Fund (FBNDX) and Fidelity Total Bond Fund (FTBFX). 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.
| FBNDX | FTBFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.24 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.76 | -0.25 |
| Martin ratioReturn relative to average drawdown | 4.25 | 5.10 | -0.85 |
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Drawdowns
FBNDX vs. FTBFX - Drawdown Comparison
The maximum FBNDX drawdown since its inception was -42.76%, which is greater than FTBFX's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for FBNDX and FTBFX.
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Drawdown Indicators
| FBNDX | FTBFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -18.25% | -24.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -2.89% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -5.82% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | -18.25% | -0.49% |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | -18.25% | -0.49% |
Current DrawdownCurrent decline from peak | -1.62% | -1.31% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -10.34% | -2.32% | -8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 1.00% | +0.07% |
Volatility
FBNDX vs. FTBFX - Volatility Comparison
Fidelity Investment Grade Bond Fund (FBNDX) and Fidelity Total Bond Fund (FTBFX) have volatilities of 1.25% and 1.21%, 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
| FBNDX | FTBFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.21% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 2.88% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 3.80% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 5.67% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.02% | 4.73% | +0.29% |
FBNDX vs. FTBFX - Expense Ratio Comparison
Both FBNDX and FTBFX have an expense ratio of 0.45%.
Dividends
FBNDX vs. FTBFX - Dividend Comparison
FBNDX's dividend yield for the trailing twelve months is around 3.91%, less than FTBFX's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 3.91% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
FTBFX Fidelity Total Bond Fund | 4.36% | 4.36% | 4.15% | 4.15% | 2.54% | 1.89% | 5.22% | 3.03% | 3.19% | 2.97% | 3.61% | 3.30% |
Frequently Asked Questions
With a correlation of 0.96, FBNDX and FTBFX 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.
FBNDX has higher volatility (1.25%) compared to FTBFX (1.21%). In terms of maximum drawdown, FBNDX dropped -42.76% vs FTBFX's -18.25%.
FTBFX currently has the higher Sharpe Ratio (1.34 vs 1.12), 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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