FHPFX vs. BND

Last updated Jun 24, 2026

FHPFX (Fidelity Series Investment Grade Securitized Fund) and BND (Vanguard Total Bond Market ETF) are both Total Bond Market funds. Over the past 5 years, FHPFX returned 0.58%/yr vs 0.05%/yr for BND. Their correlation of 0.88 suggests significant overlap in exposure. FHPFX charges 0.00%/yr vs 0.03%/yr for BND.

Performance

FHPFX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Investment Grade Securitized Fund (FHPFX) 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, FHPFX achieves a 0.71% return, which is significantly higher than BND's 0.49% return.

FHPFX

• 1D: -0.33%
• 1M: 0.59%
• YTD: 0.71%
• 6M: 1.06%
• 1Y: 6.11%
• 3Y*: 4.69%
• 5Y*: 0.58%
• 10Y*: —

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)

FHPFX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHPFX Fidelity Series Investment Grade Securitized Fund	0.71%	8.76%	1.81%	5.29%	-12.28%	-1.06%	4.84%	6.69%	1.41%
BND Vanguard Total Bond Market ETF	0.49%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	1.11%

Correlation

The correlation between FHPFX and BND is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.88

The correlation between FHPFX and BND has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

FHPFX vs. BND — Risk / Return Rank

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

FHPFX

FHPFX Risk / Return Rank: 36
FHPFX Sharpe Ratio Rank: 34
FHPFX Sortino Ratio Rank: 37
FHPFX Omega Ratio Rank: 32
FHPFX Calmar Ratio Rank: 43
FHPFX Martin Ratio Rank: 34

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.

FHPFX vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Investment Grade Securitized Fund (FHPFX) 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.

	FHPFX	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.14	+0.41
Sortino ratio: Return per unit of downside risk	2.34	1.70	+0.64
Omega ratio: Gain probability vs. loss probability	1.28	1.20	+0.08
Calmar ratio: Return relative to maximum drawdown	2.39	1.59	+0.81
Martin ratio: Return relative to average drawdown	7.19	4.52	+2.68

FHPFX vs. BND - Sharpe Ratio Comparison

The current FHPFX Sharpe Ratio is 1.55, which is higher than the BND Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of FHPFX 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

FHPFX vs. BND - Drawdown Comparison

The maximum FHPFX drawdown since its inception was -17.93%, roughly equal to the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for FHPFX and BND.

Drawdown Indicators

	FHPFX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-17.93%	-18.58%	+0.65%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-2.68%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-7.56%	-5.92%	-1.64%
Max Drawdown (5Y) Largest decline over 5 years	-17.79%	-17.91%	+0.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	-1.38%	-2.15%	+0.77%
Average Drawdown Average peak-to-trough decline	-4.51%	-3.06%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.94%	-0.07%

Volatility

FHPFX vs. BND - Volatility Comparison

Fidelity Series Investment Grade Securitized Fund (FHPFX) has a higher volatility of 1.24% compared to Vanguard Total Bond Market ETF (BND) at 1.08%. This indicates that FHPFX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHPFX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	1.08%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	2.95%	2.77%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	3.74%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.69%	6.03%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.64%	5.53%	+0.11%

FHPFX vs. BND - Expense Ratio Comparison

FHPFX has a 0.00% expense ratio, which is lower than BND's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FHPFX vs. BND - Dividend Comparison

FHPFX's dividend yield for the trailing twelve months is around 4.50%, 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%
FHPFX Fidelity Series Investment Grade Securitized Fund	4.50%	4.41%	4.54%	3.53%	1.70%	0.58%	3.20%	3.81%	1.16%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHPFX and BND in my portfolio?

FHPFX and BND have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHPFX or BND?

FHPFX has higher volatility (1.24%) compared to BND (1.08%). In terms of maximum drawdown, FHPFX dropped -17.93% vs BND's -18.58%.

Which has better risk-adjusted returns?

FHPFX currently has the higher Sharpe Ratio (1.55 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.