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FBNDX vs. SPHY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

FBNDX vs. SPHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Investment Grade Bond Fund (FBNDX) and SPDR Portfolio High Yield Bond ETF (SPHY). The values are adjusted to include any dividend payments, if applicable.

0.00%2.00%4.00%6.00%8.00%JuneJulyAugustSeptemberOctoberNovember
3.26%
6.62%
FBNDX
SPHY

Returns By Period

In the year-to-date period, FBNDX achieves a 2.07% return, which is significantly lower than SPHY's 8.54% return. Over the past 10 years, FBNDX has underperformed SPHY with an annualized return of 1.64%, while SPHY has yielded a comparatively higher 4.60% annualized return.


FBNDX

YTD

2.07%

1M

-0.79%

6M

3.26%

1Y

6.67%

5Y (annualized)

-0.09%

10Y (annualized)

1.64%

SPHY

YTD

8.54%

1M

0.70%

6M

6.62%

1Y

13.05%

5Y (annualized)

4.91%

10Y (annualized)

4.60%

Key characteristics


FBNDXSPHY
Sharpe Ratio1.073.03
Sortino Ratio1.604.77
Omega Ratio1.191.61
Calmar Ratio0.433.91
Martin Ratio3.4323.83
Ulcer Index1.81%0.56%
Daily Std Dev5.80%4.40%
Max Drawdown-20.16%-21.97%
Current Drawdown-9.57%-0.42%

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FBNDX vs. SPHY - Expense Ratio Comparison

FBNDX has a 0.45% expense ratio, which is higher than SPHY's 0.10% expense ratio.


FBNDX
Fidelity Investment Grade Bond Fund
Expense ratio chart for FBNDX: current value at 0.45% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.45%
Expense ratio chart for SPHY: current value at 0.10% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.10%

Correlation

-0.50.00.51.00.2

The correlation between FBNDX and SPHY is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Risk-Adjusted Performance

FBNDX vs. SPHY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Bond Fund (FBNDX) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.


Sharpe ratio
The chart of Sharpe ratio for FBNDX, currently valued at 1.07, compared to the broader market-1.000.001.002.003.004.005.001.072.85
The chart of Sortino ratio for FBNDX, currently valued at 1.60, compared to the broader market0.005.0010.001.604.49
The chart of Omega ratio for FBNDX, currently valued at 1.19, compared to the broader market1.002.003.004.001.191.57
The chart of Calmar ratio for FBNDX, currently valued at 0.43, compared to the broader market0.005.0010.0015.0020.000.434.72
The chart of Martin ratio for FBNDX, currently valued at 3.43, compared to the broader market0.0020.0040.0060.0080.00100.003.4322.26
FBNDX
SPHY

The current FBNDX Sharpe Ratio is 1.07, which is lower than the SPHY Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of FBNDX and SPHY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio0.001.002.003.004.00JuneJulyAugustSeptemberOctoberNovember
1.07
2.85
FBNDX
SPHY

Dividends

FBNDX vs. SPHY - Dividend Comparison

FBNDX's dividend yield for the trailing twelve months is around 3.91%, less than SPHY's 7.77% yield.


TTM20232022202120202019201820172016201520142013
FBNDX
Fidelity Investment Grade Bond Fund
3.91%3.56%2.67%1.53%1.88%2.77%2.84%2.17%2.50%2.90%2.59%2.36%
SPHY
SPDR Portfolio High Yield Bond ETF
7.77%7.30%6.46%5.13%5.63%5.73%4.09%4.41%4.28%4.29%3.98%4.40%

Drawdowns

FBNDX vs. SPHY - Drawdown Comparison

The maximum FBNDX drawdown since its inception was -20.16%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for FBNDX and SPHY. For additional features, visit the drawdowns tool.


-14.00%-12.00%-10.00%-8.00%-6.00%-4.00%-2.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-9.57%
-0.42%
FBNDX
SPHY

Volatility

FBNDX vs. SPHY - Volatility Comparison

Fidelity Investment Grade Bond Fund (FBNDX) has a higher volatility of 1.51% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 0.96%. This indicates that FBNDX's price experiences larger fluctuations and is considered to be riskier than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.80%1.00%1.20%1.40%1.60%1.80%2.00%JuneJulyAugustSeptemberOctoberNovember
1.51%
0.96%
FBNDX
SPHY