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FIXD vs. BND
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

FIXD vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Smith Opportunistic Fixed Income ETF (FIXD) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

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

FIXD vs. BND - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
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

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

FIXD
FIXD Risk / Return Rank: 3131
Overall Rank
FIXD Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
FIXD Sortino Ratio Rank: 3232
Sortino Ratio Rank
FIXD Omega Ratio Rank: 2929
Omega Ratio Rank
FIXD Calmar Ratio Rank: 3030
Calmar Ratio Rank
FIXD Martin Ratio Rank: 3030
Martin Ratio Rank

BND
BND Risk / Return Rank: 3333
Overall Rank
BND Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
BND Sortino Ratio Rank: 3434
Sortino Ratio Rank
BND Omega Ratio Rank: 3131
Omega Ratio Rank
BND Calmar Ratio Rank: 3333
Calmar Ratio Rank
BND Martin Ratio Rank: 3333
Martin Ratio Rank
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.

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.


FIXDBNDDifference
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

FIXD vs. BND - Sharpe Ratio Comparison

The current FIXD Sharpe Ratio is 1.14, which is comparable to the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of FIXD 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.


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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


FIXDBNDDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-3.44%

-2.26%

-1.18%

Average Drawdown

Average peak-to-trough decline

-5.49%

-3.06%

-2.43%

Ulcer Index

Depth 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


FIXDBNDDifference

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.


PositionTTM20252024202320222021202020192018201720162015
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.

Portfolio Optimizer

Find the right allocation for FIXD and BND

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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