FIXD vs. FBND
FIXD (First Trust Smith Opportunistic Fixed Income ETF) and FBND (Fidelity Total Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 5 years, FIXD returned -0.86%/yr vs 0.31%/yr for FBND. Their correlation of 0.86 means they have usually moved in the same direction. FIXD charges 0.65%/yr vs 0.36%/yr for FBND.
Performance
FIXD vs. FBND - Performance Comparison
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Returns By Period
In the year-to-date period, FIXD achieves a -0.78% return, which is significantly lower than FBND's -0.33% return.
FIXD
- 1D
- -0.16%
- 1M
- -1.41%
- 6M
- -0.99%
- YTD
- -0.78%
- 1Y
- 2.09%
- 3Y*
- 3.90%
- 5Y*
- -0.86%
- 10Y*
- —
- ALL TIME*
- 1.90%
FBND
- 1D
- -0.27%
- 1M
- -1.26%
- 6M
- -0.60%
- YTD
- -0.33%
- 1Y
- 2.08%
- 3Y*
- 4.55%
- 5Y*
- 0.31%
- 10Y*
- 2.27%
- ALL TIME*
- 2.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.84M | $127.41M | $124.15M | |
| $12.13M | $12.35M | $17.01M |
FIXD vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIXD First Trust Smith Opportunistic Fixed Income ETF | -0.78% | 7.95% | 0.75% | 5.72% | -15.00% | -1.07% | 8.99% | 10.56% | 0.00% | 3.40% |
FBND Fidelity Total Bond ETF | -0.33% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.41% |
Correlation
The correlation between FIXD and FBND is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017 | 0.86 |
The correlation between FIXD and FBND shifts across timeframes, from 0.86 (all time) to 0.97 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FIXD vs. FBND — Risk / Return Rank
FIXD
FBND
FIXD vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Smith Opportunistic Fixed Income ETF (FIXD) 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.
| FIXD | FBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.13 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 1.09 | -0.17 |
| Martin ratioReturn relative to average drawdown | 2.32 | 2.77 | -0.44 |
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Drawdowns
FIXD vs. FBND - Drawdown Comparison
The maximum FIXD drawdown since its inception was -20.44%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for FIXD and FBND.
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Drawdown Indicators
| FIXD | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.44% | -17.25% | -3.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -2.66% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -5.96% | -4.95% | -1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -20.44% | -17.25% | -3.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.25% | — |
Current DrawdownCurrent decline from peak | -4.46% | -2.24% | -2.22% |
Average DrawdownAverage peak-to-trough decline | -5.47% | -3.32% | -2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.05% | +0.21% |
Volatility
FIXD vs. FBND - Volatility Comparison
First Trust Smith Opportunistic Fixed Income ETF (FIXD) has a higher volatility of 1.09% compared to Fidelity Total Bond ETF (FBND) at 0.95%. This indicates that FIXD'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.
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Volatility by Period
| FIXD | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 0.95% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.31% | 2.94% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 3.77% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.60% | 5.93% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.81% | 6.10% | -0.29% |
FIXD vs. FBND - Expense Ratio Comparison
FIXD has a 0.65% expense ratio, which is higher than FBND's 0.36% expense ratio.
Dividends
FIXD vs. FBND - Dividend Comparison
FIXD's dividend yield for the trailing twelve months is around 4.80%, which matches FBND's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.77% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
FIXD First Trust Smith Opportunistic Fixed Income ETF | 4.80% | 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 0.96, FIXD and FBND 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 (1.09%) compared to FBND (0.95%). In terms of maximum drawdown, FIXD dropped -20.44% vs FBND's -17.25%.
On 5-year performance, FBND leads with 0.31% vs -0.86% for FIXD. On fees, FBND is cheaper at 0.36% per year. On volatility, FBND has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FBND has performed better with a 0.31% return vs -0.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBND is cheaper with a 0.36% expense ratio, compared with 0.65% for FIXD.
FIXD has the higher dividend yield at 4.80%, compared with 4.77% for FBND.
They also come from different issuers: First Trust and Fidelity. Their fees differ too: 0.65% for FIXD and 0.36% for FBND.
FBND currently has the higher Sharpe Ratio (0.77 vs 0.71), 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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