FCBYX vs. BND

Last updated Jun 23, 2026

FCBYX (Nuveen Strategic Income Fund) and BND (Vanguard Total Bond Market ETF) are both funds - FCBYX is a Multisector Bonds fund managed by Nuveen, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, FCBYX returned 4.27%/yr vs 1.56%/yr for BND. A 0.60 correlation means they provide meaningful diversification when combined. FCBYX charges 0.59%/yr vs 0.03%/yr for BND.

Performance

FCBYX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Strategic Income Fund (FCBYX) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCBYX achieves a 1.07% return, which is significantly higher than BND's 0.49% return. Over the past 10 years, FCBYX has outperformed BND with an annualized return of 4.27%, while BND has yielded a comparatively lower 1.56% annualized return.

FCBYX

• 1D: 0.00%
• 1M: 0.96%
• YTD: 1.07%
• 6M: 1.54%
• 1Y: 6.48%
• 3Y*: 7.32%
• 5Y*: 2.89%
• 10Y*: 4.27%

BND

• 1D: 0.11%
• 1M: 0.64%
• YTD: 0.49%
• 6M: 0.57%
• 1Y: 4.23%
• 3Y*: 3.96%
• 5Y*: 0.05%
• 10Y*: 1.56%

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

FCBYX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCBYX Nuveen Strategic Income Fund	1.07%	8.55%	6.86%	9.14%	-10.36%	1.47%	8.45%	13.18%	-3.07%	5.54%
BND Vanguard Total Bond Market ETF	0.49%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between FCBYX and BND is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007	0.60

Over the past year, FCBYX and BND have become more correlated (0.80) than their long-term average of 0.60, meaning their price movements have been converging.

Return for Risk

FCBYX vs. BND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCBYX

FCBYX Risk / Return Rank: 72
FCBYX Sharpe Ratio Rank: 78
FCBYX Sortino Ratio Rank: 91
FCBYX Omega Ratio Rank: 85
FCBYX Calmar Ratio Rank: 57
FCBYX Martin Ratio Rank: 47

BND

BND Risk / Return Rank: 32
BND Sharpe Ratio Rank: 32
BND Sortino Ratio Rank: 33
BND Omega Ratio Rank: 30
BND Calmar Ratio Rank: 33
BND Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FCBYX vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Strategic Income Fund (FCBYX) and Vanguard Total Bond Market ETF (BND). 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.

	FCBYX	BND	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.14	+1.23
Sortino ratio: Return per unit of downside risk	4.18	1.70	+2.48
Omega ratio: Gain probability vs. loss probability	1.53	1.20	+0.33
Calmar ratio: Return relative to maximum drawdown	2.79	1.59	+1.20
Martin ratio: Return relative to average drawdown	9.21	4.52	+4.70

FCBYX vs. BND - Sharpe Ratio Comparison

The current FCBYX Sharpe Ratio is 2.37, which is higher than the BND Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of FCBYX and BND, 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

FCBYX vs. BND - Drawdown Comparison

The maximum FCBYX drawdown since its inception was -24.49%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for FCBYX and BND.

Drawdown Indicators

	FCBYX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-24.49%	-18.58%	-5.91%
Max Drawdown (1Y) Largest decline over 1 year	-2.39%	-2.68%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-4.75%	-5.92%	+1.17%
Max Drawdown (5Y) Largest decline over 5 years	-15.74%	-17.91%	+2.17%
Max Drawdown (10Y) Largest decline over 10 years	-15.93%	-18.58%	+2.65%
Current Drawdown Current decline from peak	-0.48%	-2.15%	+1.67%
Average Drawdown Average peak-to-trough decline	-2.40%	-3.06%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.94%	-0.22%

Volatility

FCBYX vs. BND - Volatility Comparison

The current volatility for Nuveen Strategic Income Fund (FCBYX) is 0.85%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.08%. This indicates that FCBYX experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCBYX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	1.08%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.08%	2.77%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	2.80%	3.74%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.13%	6.03%	-1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.21%	5.53%	-1.32%

FCBYX vs. BND - Expense Ratio Comparison

FCBYX has a 0.59% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

FCBYX vs. BND - Dividend Comparison

FCBYX's dividend yield for the trailing twelve months is around 5.38%, more than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
FCBYX Nuveen Strategic Income Fund	5.38%	6.22%	6.44%	5.59%	4.71%	3.08%	3.58%	3.69%	3.91%	4.92%	5.28%	5.53%

Frequently Asked Questions

Can I hold both FCBYX and BND in my portfolio?

FCBYX and BND have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCBYX or BND?

BND has higher volatility (1.08%) compared to FCBYX (0.85%). In terms of maximum drawdown, FCBYX dropped -24.49% vs BND's -18.58%.

Which has better risk-adjusted returns?

FCBYX currently has the higher Sharpe Ratio (2.37 vs 1.14), 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.