FBNDX vs. LQD
FBNDX (Fidelity Investment Grade Bond Fund) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both funds - FBNDX is a Total Bond Market fund managed by Fidelity, while LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Over the past 10 years, FBNDX returned 2.09%/yr vs 2.56%/yr for LQD. A 0.76 correlation means they provide meaningful diversification when combined. FBNDX charges 0.45%/yr vs 0.15%/yr for LQD.
Performance
FBNDX vs. LQD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FBNDX achieves a 0.06% return, which is significantly lower than LQD's 0.67% return. Over the past 10 years, FBNDX has underperformed LQD with an annualized return of 2.09%, while LQD has yielded a comparatively higher 2.56% annualized return.
FBNDX
- 1D
- -0.28%
- 1M
- 0.05%
- YTD
- 0.06%
- 6M
- 0.15%
- 1Y
- 4.25%
- 3Y*
- 3.98%
- 5Y*
- 0.04%
- 10Y*
- 2.09%
LQD
- 1D
- 0.21%
- 1M
- 0.56%
- YTD
- 0.67%
- 6M
- 0.36%
- 1Y
- 5.54%
- 3Y*
- 5.10%
- 5Y*
- -0.00%
- 10Y*
- 2.56%
FBNDX vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 0.06% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 3.92% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.67% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
Correlation
The correlation between FBNDX and LQD is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2002 | 0.76 |
The correlation between FBNDX and LQD shifts across timeframes, from 0.76 (all time) to 0.89 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FBNDX vs. LQD — Risk / Return Rank
FBNDX
LQD
FBNDX vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Bond Fund (FBNDX) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). 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.
| FBNDX | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 1.66 | -0.06 |
| Martin ratioReturn relative to average drawdown | 4.79 | 4.76 | +0.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FBNDX | LQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.05 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | -0.00 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.30 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.54 | -0.01 |
Drawdowns
FBNDX vs. LQD - Drawdown Comparison
The maximum FBNDX drawdown since its inception was -42.76%, which is greater than LQD's maximum drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for FBNDX and LQD.
Loading charts...
Drawdown Indicators
| FBNDX | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -24.95% | -17.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -3.34% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -8.43% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | -24.95% | +6.21% |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | -24.95% | +6.21% |
Current DrawdownCurrent decline from peak | -1.89% | -3.51% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -10.34% | -3.99% | -6.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 1.17% | -0.16% |
Volatility
FBNDX vs. LQD - Volatility Comparison
The current volatility for Fidelity Investment Grade Bond Fund (FBNDX) is 1.36%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 1.62%. This indicates that FBNDX experiences smaller price fluctuations and is considered to be less risky than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FBNDX | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.62% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 3.90% | -0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 5.36% | -1.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 8.64% | -2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.02% | 8.68% | -3.66% |
FBNDX vs. LQD - Expense Ratio Comparison
FBNDX has a 0.45% expense ratio, which is higher than LQD's 0.15% expense ratio.
Dividends
FBNDX vs. LQD - Dividend Comparison
FBNDX's dividend yield for the trailing twelve months is around 3.92%, less than LQD's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 3.92% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.56% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
Frequently Asked Questions
FBNDX and LQD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQD has higher volatility (1.62%) compared to FBNDX (1.36%). In terms of maximum drawdown, FBNDX dropped -42.76% vs LQD's -24.95%.
FBNDX currently has the higher Sharpe Ratio (1.18 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.
Find the right allocation for FBNDX and LQD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer