FBNDX vs. JIBEX
FBNDX (Fidelity Investment Grade Bond Fund) and JIBEX (Johnson Institutional Intermediate Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, FBNDX returned 2.11%/yr vs 2.07%/yr for JIBEX. Their correlation of 0.83 suggests significant overlap in exposure. FBNDX charges 0.45%/yr vs 0.25%/yr for JIBEX.
Performance
FBNDX vs. JIBEX - Performance Comparison
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Returns By Period
In the year-to-date period, FBNDX achieves a 0.62% return, which is significantly higher than JIBEX's 0.22% return. Both investments have delivered pretty close results over the past 10 years, with FBNDX having a 2.11% annualized return and JIBEX not far behind at 2.07%.
FBNDX
- 1D
- 0.42%
- 1M
- 0.89%
- YTD
- 0.62%
- 6M
- 0.80%
- 1Y
- 4.25%
- 3Y*
- 4.18%
- 5Y*
- 0.13%
- 10Y*
- 2.11%
JIBEX
- 1D
- 0.34%
- 1M
- 0.41%
- YTD
- 0.22%
- 6M
- 0.22%
- 1Y
- 3.29%
- 3Y*
- 4.57%
- 5Y*
- 1.02%
- 10Y*
- 2.07%
FBNDX vs. JIBEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 0.62% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 3.92% |
JIBEX Johnson Institutional Intermediate Bond Fund | 0.22% | 7.39% | 2.58% | 5.46% | -9.24% | -1.72% | 7.20% | 7.54% | 0.41% | 2.81% |
Correlation
The correlation between FBNDX and JIBEX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2000 | 0.83 |
The correlation between FBNDX and JIBEX has been stable across timeframes, ranging from 0.83 to 0.93 - a consistent structural relationship.
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Return for Risk
FBNDX vs. JIBEX — Risk / Return Rank
FBNDX
JIBEX
FBNDX vs. JIBEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Bond Fund (FBNDX) and Johnson Institutional Intermediate Bond Fund (JIBEX). 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 | JIBEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.52 | -0.11 |
| Martin ratioReturn relative to average drawdown | 3.93 | 4.18 | -0.25 |
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Drawdowns
FBNDX vs. JIBEX - Drawdown Comparison
The maximum FBNDX drawdown since its inception was -42.76%, which is greater than JIBEX's maximum drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for FBNDX and JIBEX.
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Drawdown Indicators
| FBNDX | JIBEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -13.85% | -28.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -2.21% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -3.37% | -2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | -13.81% | -4.93% |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | -13.85% | -4.89% |
Current DrawdownCurrent decline from peak | -1.35% | -1.14% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -10.33% | -3.63% | -6.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.81% | +0.27% |
Volatility
FBNDX vs. JIBEX - Volatility Comparison
Fidelity Investment Grade Bond Fund (FBNDX) has a higher volatility of 1.24% compared to Johnson Institutional Intermediate Bond Fund (JIBEX) at 1.00%. This indicates that FBNDX's price experiences larger fluctuations and is considered to be riskier than JIBEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBNDX | JIBEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.00% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.07% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 2.76% | +1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 4.40% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.03% | 3.59% | +1.44% |
FBNDX vs. JIBEX - Expense Ratio Comparison
FBNDX has a 0.45% expense ratio, which is higher than JIBEX's 0.25% expense ratio.
Dividends
FBNDX vs. JIBEX - Dividend Comparison
FBNDX's dividend yield for the trailing twelve months is around 3.90%, more than JIBEX's 3.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 3.90% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
JIBEX Johnson Institutional Intermediate Bond Fund | 3.67% | 4.03% | 3.39% | 2.90% | 2.14% | 1.79% | 3.15% | 2.69% | 2.74% | 2.33% | 2.39% | 1.54% |
Frequently Asked Questions
FBNDX and JIBEX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBNDX has higher volatility (1.24%) compared to JIBEX (1.00%). In terms of maximum drawdown, FBNDX dropped -42.76% vs JIBEX's -13.85%.
JIBEX currently has the higher Sharpe Ratio (1.23 vs 1.05), 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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