FIXD vs. BND
FIXD (First Trust Smith Opportunistic Fixed Income ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - FIXD is a Intermediate Core-Plus Bond fund actively managed by First Trust, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. FIXD is actively managed, while BND is passively managed. Over the past 5 years, FIXD returned -0.39%/yr vs 0.04%/yr for BND. Their correlation of 0.91 suggests significant overlap in exposure. FIXD charges 0.65%/yr vs 0.03%/yr for BND.
Performance
FIXD vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, FIXD achieves a 0.27% return, which is significantly lower than BND's 0.38% return.
FIXD
- 1D
- -0.26%
- 1M
- 0.58%
- YTD
- 0.27%
- 6M
- 0.36%
- 1Y
- 4.71%
- 3Y*
- 3.94%
- 5Y*
- -0.39%
- 10Y*
- —
BND
- 1D
- -0.27%
- 1M
- 0.53%
- YTD
- 0.38%
- 6M
- 0.45%
- 1Y
- 4.37%
- 3Y*
- 3.92%
- 5Y*
- 0.04%
- 10Y*
- 1.55%
FIXD vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIXD First Trust Smith Opportunistic Fixed Income ETF | 0.27% | 7.95% | 0.75% | 5.72% | -15.00% | -1.07% | 8.99% | 10.56% | -0.00% | 3.40% |
BND Vanguard Total Bond Market ETF | 0.38% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.34% |
Correlation
The correlation between FIXD and BND is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017 | 0.91 |
The correlation between FIXD and BND has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.
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Return for Risk
FIXD vs. BND — Risk / Return Rank
FIXD
BND
FIXD vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Smith Opportunistic Fixed Income ETF (FIXD) 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.
| FIXD | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.64 | -0.17 |
| Martin ratioReturn relative to average drawdown | 4.21 | 4.69 | -0.48 |
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Drawdowns
FIXD vs. BND - Drawdown Comparison
The maximum FIXD drawdown since its inception was -20.44%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for FIXD and BND.
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Drawdown Indicators
| FIXD | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.44% | -18.58% | -1.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -2.68% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -5.92% | -1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -20.44% | -17.91% | -2.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -3.44% | -2.26% | -1.18% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -3.06% | -2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.93% | +0.19% |
Volatility
FIXD vs. BND - Volatility Comparison
First Trust Smith Opportunistic Fixed Income ETF (FIXD) has a higher volatility of 1.20% compared to Vanguard Total Bond Market ETF (BND) at 1.08%. This indicates that FIXD'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.
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Volatility by Period
| FIXD | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.08% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.21% | 2.77% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 3.74% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.59% | 6.03% | +0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 5.54% | +0.29% |
FIXD vs. BND - Expense Ratio Comparison
FIXD has a 0.65% expense ratio, which is higher than BND's 0.03% expense ratio.
Dividends
FIXD vs. BND - Dividend Comparison
FIXD's dividend yield for the trailing twelve months is around 4.69%, 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% |
FIXD First Trust Smith Opportunistic Fixed Income ETF | 4.69% | 4.50% | 4.56% | 3.93% | 3.07% | 1.74% | 3.14% | 5.10% | 2.81% | 1.95% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, FIXD and BND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FIXD has higher volatility (1.20%) compared to BND (1.08%). In terms of maximum drawdown, FIXD dropped -20.44% vs BND's -18.58%.
On 5-year performance, BND leads with 0.04% vs -0.39% for FIXD. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BND has performed better with a 0.04% return vs -0.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.65% for FIXD.
FIXD has the higher dividend yield at 4.69%, compared with 3.96% for BND.
FIXD is categorized as Intermediate Core-Plus Bond, while BND is Total Bond Market. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.65% for FIXD and 0.03% for BND.
BND currently has the higher Sharpe Ratio (1.18 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.
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