FCBD vs. FSEC

Last updated Aug 1, 2026

FCBD (Frontier Asset Core Bond ETF) and FSEC (Fidelity Investment Grade Securitized ETF) are both Intermediate Core Bond funds. Both are actively managed. Over the past year, FCBD returned 2.18% vs 3.56% for FSEC. Their 0.77 correlation means they have sometimes moved together and sometimes differently. FCBD charges 0.90%/yr vs 0.36%/yr for FSEC.

Performance

FCBD vs. FSEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Asset Core Bond ETF (FCBD) and Fidelity Investment Grade Securitized ETF (FSEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCBD achieves a 0.03% return, which is significantly lower than FSEC's 0.23% return.

FCBD

• 1D: -0.20%
• 1M: -0.58%
• 6M: -0.20%
• YTD: 0.03%
• 1Y: 2.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.87%

FSEC

• 1D: -0.30%
• 1M: -0.94%
• 6M: -0.25%
• YTD: 0.23%
• 1Y: 3.56%
• 3Y*: 4.91%
• 5Y*: 0.26%
• 10Y*: —
• ALL TIME*: 0.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCBD Frontier Asset Core Bond ETF	$51.11K	$72.63K	$95.11K
FSEC Fidelity Investment Grade Securitized ETF	$14.78M	$11.92M	$14.34M

FCBD vs. FSEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCBD Frontier Asset Core Bond ETF	0.03%	6.29%	-0.02%
FSEC Fidelity Investment Grade Securitized ETF	0.23%	8.33%	0.60%

Correlation

The correlation between FCBD and FSEC is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.77

The correlation between FCBD and FSEC has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.

Return for Risk

FCBD vs. FSEC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCBD

FCBD Risk / Return Rank: 45
FCBD Sharpe Ratio Rank: 47
FCBD Sortino Ratio Rank: 47
FCBD Omega Ratio Rank: 44
FCBD Calmar Ratio Rank: 46
FCBD Martin Ratio Rank: 41

FSEC

FSEC Risk / Return Rank: 42
FSEC Sharpe Ratio Rank: 40
FSEC Sortino Ratio Rank: 39
FSEC Omega Ratio Rank: 37
FSEC Calmar Ratio Rank: 52
FSEC Martin Ratio Rank: 43

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCBD vs. FSEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset Core Bond ETF (FCBD) and Fidelity Investment Grade Securitized ETF (FSEC). 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.

	FCBD	FSEC	Difference
Sharpe ratio: Return per unit of total volatility	1.18	0.99	+0.19
Sortino ratio: Return per unit of downside risk	1.74	1.45	+0.28
Omega ratio: Gain probability vs. loss probability	1.20	1.18	+0.03
Calmar ratio: Return relative to maximum drawdown	1.67	1.84	-0.17
Martin ratio: Return relative to average drawdown	4.40	4.77	-0.37

FCBD vs. FSEC - Sharpe Ratio Comparison

The current FCBD Sharpe Ratio is 1.18, which is comparable to the FSEC Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of FCBD and FSEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCBD vs. FSEC - Drawdown Comparison

The maximum FCBD drawdown since its inception was -1.64%, smaller than the maximum FSEC drawdown of -17.97%. Use the drawdown chart below to compare losses from any high point for FCBD and FSEC.

Drawdown Indicators

	FCBD	FSEC	Difference
Max Drawdown Largest peak-to-trough decline	-1.64%	-17.97%	+16.33%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-2.52%	+0.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.82%	—
Current Drawdown Current decline from peak	-1.17%	-1.82%	+0.65%
Average Drawdown Average peak-to-trough decline	-0.40%	-6.47%	+6.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	0.97%	-0.35%

Volatility

FCBD vs. FSEC - Volatility Comparison

The current volatility for Frontier Asset Core Bond ETF (FCBD) is 0.61%, while Fidelity Investment Grade Securitized ETF (FSEC) has a volatility of 1.17%. This indicates that FCBD experiences smaller price fluctuations and is considered to be less risky than FSEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCBD	FSEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	1.17%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	1.85%	3.43%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	2.32%	4.69%	-2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.57%	6.80%	-4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.57%	6.56%	-3.99%

FCBD vs. FSEC - Expense Ratio Comparison

FCBD has a 0.90% expense ratio, which is higher than FSEC's 0.36% expense ratio.

Dividends

FCBD vs. FSEC - Dividend Comparison

FCBD's dividend yield for the trailing twelve months is around 4.18%, less than FSEC's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021
FCBD Frontier Asset Core Bond ETF	4.18%	4.34%	0.08%	0.00%	0.00%	0.00%
FSEC Fidelity Investment Grade Securitized ETF	4.49%	4.22%	3.22%	3.41%	2.21%	0.96%

Frequently Asked Questions

Can I hold both FCBD and FSEC in my portfolio?

FCBD and FSEC have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCBD or FSEC?

FSEC has higher volatility (1.17%) compared to FCBD (0.61%). In terms of maximum drawdown, FCBD dropped -1.64% vs FSEC's -17.97%.

Which ETF is better, FCBD or FSEC?

On 1-year performance, FSEC leads with 3.56% vs 2.18% for FCBD. On fees, FSEC is cheaper at 0.36% per year. On volatility, FCBD has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCBD or FSEC?

Over the 1-year period, FSEC has performed better with a 3.56% return vs 2.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCBD or FSEC?

FSEC is cheaper with a 0.36% expense ratio, compared with 0.90% for FCBD.

Which ETF pays a higher dividend yield, FCBD or FSEC?

FSEC has the higher dividend yield at 4.49%, compared with 4.18% for FCBD.

What is the main difference between FCBD and FSEC?

They also come from different issuers: Frontier and Fidelity. Their fees differ too: 0.90% for FCBD and 0.36% for FSEC.

Which has better risk-adjusted returns?

FCBD currently has the higher Sharpe Ratio (1.18 vs 0.99), 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.