FBNDX vs. LQD
Compare and contrast key facts about Fidelity Investment Grade Bond Fund (FBNDX) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD).
FBNDX is managed by Fidelity. It was launched on Aug 6, 1971. LQD is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid Investment Grade Index. It was launched on Jul 26, 2002.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FBNDX or LQD.
Key characteristics
| FBNDX | LQD | |
|---|---|---|
| YTD Return | 2.66% | 2.78% |
| 1Y Return | 9.01% | 12.14% |
| 3Y Return (Ann) | -1.87% | -2.64% |
| 5Y Return (Ann) | 0.12% | 0.50% |
| 10Y Return (Ann) | 1.71% | 2.60% |
| Sharpe Ratio | 1.43 | 1.68 |
| Sortino Ratio | 2.13 | 2.49 |
| Omega Ratio | 1.26 | 1.30 |
| Calmar Ratio | 0.54 | 0.66 |
| Martin Ratio | 4.95 | 6.01 |
| Ulcer Index | 1.69% | 2.11% |
| Daily Std Dev | 5.95% | 7.54% |
| Max Drawdown | -20.16% | -24.95% |
| Current Drawdown | -9.06% | -9.48% |
Correlation
The correlation between FBNDX and LQD is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FBNDX vs. LQD - Performance Comparison
The year-to-date returns for both investments are quite close, with FBNDX having a 2.66% return and LQD slightly higher at 2.78%. Over the past 10 years, FBNDX has underperformed LQD with an annualized return of 1.71%, while LQD has yielded a comparatively higher 2.60% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FBNDX vs. LQD - Expense Ratio Comparison
FBNDX has a 0.45% expense ratio, which is higher than LQD's 0.15% expense ratio.
Risk-Adjusted Performance
FBNDX vs. LQD - Risk-Adjusted Performance 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.
Dividends
FBNDX vs. LQD - Dividend Comparison
FBNDX's dividend yield for the trailing twelve months is around 3.90%, less than LQD's 4.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 3.90% | 3.56% | 2.67% | 1.53% | 1.88% | 2.77% | 2.84% | 2.17% | 2.50% | 2.90% | 2.59% | 2.36% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.35% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% | 3.39% | 3.83% |
Drawdowns
FBNDX vs. LQD - Drawdown Comparison
The maximum FBNDX drawdown since its inception was -20.16%, smaller than the maximum LQD drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for FBNDX and LQD. For additional features, visit the drawdowns tool.
Volatility
FBNDX vs. LQD - Volatility Comparison
The current volatility for Fidelity Investment Grade Bond Fund (FBNDX) is 1.77%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 2.51%. 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.