FIVA vs. FBND

Last updated Jun 4, 2026

FIVA (Fidelity International Value Factor ETF) and FBND (Fidelity Total Bond ETF) are both exchange-traded funds - FIVA is a Foreign Large Cap Equities fund tracking the Fidelity® International Value Factor Index, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. FIVA is passively managed, while FBND is actively managed. Over the past 5 years, FIVA returned 12.50%/yr vs 0.83%/yr for FBND. At a 0.16 correlation, their price movements are largely independent. FIVA charges 0.39%/yr vs 0.36%/yr for FBND.

Performance

FIVA vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Value Factor ETF (FIVA) 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, FIVA achieves a 12.92% return, which is significantly higher than FBND's 0.50% return.

FIVA

• 1D: -0.36%
• 1M: 5.48%
• YTD: 12.92%
• 6M: 18.20%
• 1Y: 35.97%
• 3Y*: 22.76%
• 5Y*: 12.50%
• 10Y*: —

FBND

• 1D: -0.20%
• 1M: 0.31%
• YTD: 0.50%
• 6M: 0.30%
• 1Y: 5.59%
• 3Y*: 4.70%
• 5Y*: 0.83%
• 10Y*: 2.56%

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

FIVA vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIVA Fidelity International Value Factor ETF	12.92%	45.83%	2.53%	20.38%	-10.37%	15.90%	-1.78%	19.78%	-19.20%
FBND Fidelity Total Bond ETF	0.50%	7.57%	2.13%	6.81%	-12.54%	-0.43%	9.41%	9.82%	0.09%

Correlation

The correlation between FIVA and FBND is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jan 19, 2018	0.16

Over the past year, FIVA and FBND have become more correlated (0.38) than their long-term average of 0.16, meaning their price movements have been converging.

FIVA vs. FBND - Sectors Allocation Comparison

Sectors	FIVA	FBND
Financial Services	25.5%	0.2%
Industrials	19.3%	71.4%
Technology	11.4%	-
Healthcare	8.6%	-
Basic Materials	7.8%	-
Consumer Cyclical	6.8%	-
Energy	6.1%	1.1%
Consumer Defensive	5.6%	-
Utilities	3.9%	27.5%
Communication Services	3.2%	-
Real Estate	1.8%	-

Return for Risk

FIVA vs. FBND — Risk / Return Rank

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

FIVA

FIVA Risk / Return Rank: 67
FIVA Sharpe Ratio Rank: 71
FIVA Sortino Ratio Rank: 72
FIVA Omega Ratio Rank: 68
FIVA Calmar Ratio Rank: 61
FIVA Martin Ratio Rank: 65

FBND

FBND Risk / Return Rank: 40
FBND Sharpe Ratio Rank: 40
FBND Sortino Ratio Rank: 42
FBND Omega Ratio Rank: 37
FBND Calmar Ratio Rank: 42
FBND Martin Ratio Rank: 39

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.

FIVA vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Value Factor ETF (FIVA) 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.

	FIVA	FBND	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.46	+0.93
Sortino ratio: Return per unit of downside risk	3.31	2.17	+1.14
Omega ratio: Gain probability vs. loss probability	1.42	1.25	+0.17
Calmar ratio: Return relative to maximum drawdown	3.09	2.11	+0.98
Martin ratio: Return relative to average drawdown	12.07	6.37	+5.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIVA vs. FBND - Sharpe Ratio Comparison

The current FIVA Sharpe Ratio is 2.39, which is higher than the FBND Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FIVA 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.

Sharpe Ratios by Period

	FIVA	FBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	1.46	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.14	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.44	+0.04

Drawdowns

FIVA vs. FBND - Drawdown Comparison

The maximum FIVA drawdown since its inception was -39.76%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for FIVA and FBND.

Drawdown Indicators

	FIVA	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-17.25%	-22.51%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-2.66%	-9.05%
Max Drawdown (3Y) Largest decline over 3 years	-14.77%	-5.94%	-8.83%
Max Drawdown (5Y) Largest decline over 5 years	-28.70%	-17.25%	-11.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-17.25%	—
Current Drawdown Current decline from peak	-0.36%	-1.43%	+1.07%
Average Drawdown Average peak-to-trough decline	-7.78%	-3.35%	-4.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	0.88%	+2.11%

Volatility

FIVA vs. FBND - Volatility Comparison

Fidelity International Value Factor ETF (FIVA) has a higher volatility of 5.02% compared to Fidelity Total Bond ETF (FBND) at 1.27%. This indicates that FIVA'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

	FIVA	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	1.27%	+3.75%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	2.73%	+9.67%
Volatility (1Y) Calculated over the trailing 1-year period	15.18%	3.86%	+11.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	5.92%	+10.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.90%	6.10%	+11.80%

FIVA vs. FBND - Expense Ratio Comparison

FIVA has a 0.39% expense ratio, which is higher than FBND's 0.36% expense ratio.

Dividends

FIVA vs. FBND - Dividend Comparison

FIVA's dividend yield for the trailing twelve months is around 2.52%, less than FBND's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBND Fidelity Total Bond ETF	4.70%	4.70%	4.73%	4.26%	3.07%	1.86%	4.25%	2.90%	2.93%	2.56%	2.84%	3.26%
FIVA Fidelity International Value Factor ETF	2.52%	2.68%	3.52%	3.63%	3.62%	3.76%	2.46%	3.61%	3.28%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIVA and FBND in my portfolio?

FIVA and FBND have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIVA or FBND?

FIVA has higher volatility (5.02%) compared to FBND (1.27%). In terms of maximum drawdown, FIVA dropped -39.76% vs FBND's -17.25%.

Which ETF is better, FIVA or FBND?

On 5-year performance, FIVA leads with 12.50% vs 0.83% for FBND. On fees, FBND is cheaper at 0.36% per year. On volatility, FBND has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIVA or FBND?

Over the 5-year period, FIVA has performed better with a 12.50% return vs 0.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIVA or FBND?

FBND is cheaper with a 0.36% expense ratio, compared with 0.39% for FIVA.

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

FBND has the higher dividend yield at 4.70%, compared with 2.52% for FIVA.

What is the main difference between FIVA and FBND?

FIVA is categorized as Foreign Large Cap Equities, while FBND is Intermediate Core-Plus Bond. Their fees differ too: 0.39% for FIVA and 0.36% for FBND.

Which has better risk-adjusted returns?

FIVA currently has the higher Sharpe Ratio (2.39 vs 1.46), 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.