FFLV vs. FBND

Last updated Aug 4, 2026

FFLV (Fidelity Fundamental Large Cap Value ETF) and FBND (Fidelity Total Bond ETF) are both exchange-traded funds - FFLV is a Large Cap Value Equities fund actively managed by Fidelity, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Both are actively managed. Over the past year, FFLV returned 33.97% vs 2.33% for FBND. Their 0.27 correlation means their historical movements had little consistent relationship. FFLV charges 0.38%/yr vs 0.36%/yr for FBND.

Performance

FFLV vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Large Cap Value ETF (FFLV) and Fidelity Total Bond ETF (FBND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFLV achieves a 19.24% return, which is significantly higher than FBND's -0.08% return.

FFLV

• 1D: 0.85%
• 1M: 3.63%
• 6M: 13.59%
• YTD: 19.24%
• 1Y: 33.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.94%

FBND

• 1D: 0.25%
• 1M: -1.01%
• 6M: -0.18%
• YTD: -0.08%
• 1Y: 2.33%
• 3Y*: 4.67%
• 5Y*: 0.34%
• 10Y*: 2.28%
• ALL TIME*: 2.49%

*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)
FBND Fidelity Total Bond ETF	$137.95M	$129.50M	$125.63M
FFLV Fidelity Fundamental Large Cap Value ETF	$226.71K	$143.42K	$105.18K

FFLV vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFLV Fidelity Fundamental Large Cap Value ETF	19.24%	16.04%	-0.71%
FBND Fidelity Total Bond ETF	-0.08%	7.57%	3.56%

Correlation

The correlation between FFLV and FBND is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (All Time) Calculated using the full available price history since Feb 26, 2024	0.27

Return for Risk

FFLV vs. FBND — Risk / Return Rank

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

FFLV

FFLV Risk / Return Rank: 95
FFLV Sharpe Ratio Rank: 96
FFLV Sortino Ratio Rank: 96
FFLV Omega Ratio Rank: 94
FFLV Calmar Ratio Rank: 93
FFLV Martin Ratio Rank: 94

FBND

FBND Risk / Return Rank: 26
FBND Sharpe Ratio Rank: 27
FBND Sortino Ratio Rank: 25
FBND Omega Ratio Rank: 24
FBND Calmar Ratio Rank: 28
FBND Martin Ratio Rank: 27

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.

FFLV vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Value ETF (FFLV) and Fidelity Total Bond ETF (FBND). 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.

	FFLV	FBND	Difference
Sharpe ratio: Return per unit of total volatility	3.02	0.63	+2.38
Sortino ratio: Return per unit of downside risk	4.28	0.92	+3.35
Omega ratio: Gain probability vs. loss probability	1.54	1.11	+0.43
Calmar ratio: Return relative to maximum drawdown	4.71	0.88	+3.83
Martin ratio: Return relative to average drawdown	18.97	2.22	+16.75

FFLV vs. FBND - Sharpe Ratio Comparison

The current FFLV Sharpe Ratio is 3.02, which is higher than the FBND Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of FFLV and FBND, 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

FFLV vs. FBND - Drawdown Comparison

The maximum FFLV drawdown since its inception was -16.71%, roughly equal to the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for FFLV and FBND.

Drawdown Indicators

	FFLV	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-17.25%	+0.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-2.66%	-4.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.25%	—
Current Drawdown Current decline from peak	0.00%	-2.00%	+2.00%
Average Drawdown Average peak-to-trough decline	-3.37%	-3.32%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.05%	+0.75%

Volatility

FFLV vs. FBND - Volatility Comparison

Fidelity Fundamental Large Cap Value ETF (FFLV) has a higher volatility of 2.89% compared to Fidelity Total Bond ETF (FBND) at 0.97%. This indicates that FFLV's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFLV	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	0.97%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	8.36%	2.95%	+5.41%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	3.71%	+7.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.93%	5.93%	+9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.93%	6.10%	+8.83%

FFLV vs. FBND - Expense Ratio Comparison

FFLV has a 0.38% expense ratio, which is higher than FBND's 0.36% expense ratio.

Dividends

FFLV vs. FBND - Dividend Comparison

FFLV's dividend yield for the trailing twelve months is around 1.35%, less than FBND's 4.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBND Fidelity Total Bond ETF	4.76%	4.70%	4.73%	4.26%	3.07%	1.86%	4.25%	2.90%	2.93%	2.56%	2.84%	3.26%
FFLV Fidelity Fundamental Large Cap Value ETF	1.35%	1.60%	1.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFLV and FBND in my portfolio?

FFLV and FBND have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFLV or FBND?

FFLV has higher volatility (2.89%) compared to FBND (0.97%). In terms of maximum drawdown, FFLV dropped -16.71% vs FBND's -17.25%.

Which ETF is better, FFLV or FBND?

On 1-year performance, FFLV leads with 33.97% vs 2.33% for FBND. On fees, FBND is cheaper at 0.36% per year. On volatility, FBND has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLV or FBND?

Over the 1-year period, FFLV has performed better with a 33.97% return vs 2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLV or FBND?

FBND is cheaper with a 0.36% expense ratio, compared with 0.38% for FFLV.

Which ETF pays a higher dividend yield, FFLV or FBND?

FBND has the higher dividend yield at 4.76%, compared with 1.35% for FFLV.

What is the main difference between FFLV and FBND?

FFLV is categorized as Large Cap Value Equities, while FBND is Intermediate Core-Plus Bond. Their fees differ too: 0.38% for FFLV and 0.36% for FBND.

Which has better risk-adjusted returns?

FFLV currently has the higher Sharpe Ratio (3.02 vs 0.63), 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.