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FIXD vs. FIBR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FIXD vs. FIBR

Last updated Jun 4, 2026

FIXD (First Trust Smith Opportunistic Fixed Income ETF) and FIBR (iShares U.S. Fixed Income Balanced Risk Systematic ETF) are both Intermediate Core-Plus Bond funds. FIXD is actively managed, while FIBR is passively managed. Over the past 5 years, FIXD returned -0.35%/yr vs 1.54%/yr for FIBR. A 0.71 correlation means they provide meaningful diversification when combined. FIXD charges 0.65%/yr vs 0.25%/yr for FIBR.

Performance

FIXD vs. FIBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Smith Opportunistic Fixed Income ETF (FIXD) and iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR). 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 0.16% return, which is significantly higher than FIBR's 0.06% return.

FIXD

1D
-0.21%
1M
0.48%
YTD
0.16%
6M
-0.13%
1Y
5.61%
3Y*
3.87%
5Y*
-0.35%
10Y*
—

FIBR

1D
-0.27%
1M
0.22%
YTD
0.06%
6M
-0.05%
1Y
5.34%
3Y*
6.70%
5Y*
1.54%
10Y*
2.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FIXD vs. FIBR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FIXD
First Trust Smith Opportunistic Fixed Income ETF		0.16%7.95%0.75%5.72%-15.00%-1.07%8.99%10.56%-0.00%3.50%
FIBR
iShares U.S. Fixed Income Balanced Risk Systematic ETF		0.06%8.32%6.04%8.22%-13.57%-1.00%3.31%10.03%-0.93%3.44%

Correlation

The correlation between FIXD and FIBR 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

0.83

Correlation (5Y)
Calculated over the trailing 5-year period

0.85

Correlation (All Time)
Calculated using the full available price history since Feb 16, 2017

0.71

The correlation between FIXD and FIBR shifts across timeframes, from 0.71 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.

FIXD vs. FIBR - Sectors Allocation Comparison

Sectors
FIXD
FIBR

Utilities

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

100.0%

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

FIXD
100.0%
FIBR

-

Basic Materials

FIXD

-

FIBR

-

Communication Services

FIXD

-

FIBR

-

Consumer Cyclical

FIXD

-

FIBR

-

Consumer Defensive

FIXD

-

FIBR

-

Energy

FIXD

-

FIBR
100.0%

Financial Services

FIXD

-

FIBR

-

Healthcare

FIXD

-

FIBR

-

Industrials

FIXD

-

FIBR

-

Real Estate

FIXD

-

FIBR

-

Technology

FIXD

-

FIBR

-

Compare stocks, funds, or ETFs

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First Trust Smith Opportunistic Fixed Income ETF

iShares U.S. Fixed Income Balanced Risk Systematic ETF

Often compared with FIXD:
FIXD vs. HLIPXFIXD vs. AGGFIXD vs. FBNDFIXD vs. MINTFIXD vs. SPYFIXD vs. BNDFIXD vs. SPSB
Often compared with FIBR:
FIBR vs. CGBLFIBR vs. EAGGFIBR vs. ISTBFIBR vs. FDHYFIBR vs. RAVIFIBR vs. AGGFIBR vs. BIL

Return for Risk

FIXD vs. FIBR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FIXD
FIXD Risk / Return Rank: 3636
Overall Rank
FIXD Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
FIXD Sortino Ratio Rank: 3838
Sortino Ratio Rank
FIXD Omega Ratio Rank: 3434
Omega Ratio Rank
FIXD Calmar Ratio Rank: 3535
Calmar Ratio Rank
FIXD Martin Ratio Rank: 3535
Martin Ratio Rank
FIBR
FIBR Risk / Return Rank: 3838
Overall Rank
FIBR Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
FIBR Sortino Ratio Rank: 3939
Sortino Ratio Rank
FIBR Omega Ratio Rank: 3939
Omega Ratio Rank
FIBR Calmar Ratio Rank: 3636
Calmar Ratio Rank
FIBR Martin Ratio Rank: 3636
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. FIBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Smith Opportunistic Fixed Income ETF (FIXD) and iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR). 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.

FIXDFIBRDifference
Sharpe ratioReturn per unit of total volatility
1.34
1.41

-0.07

Sortino ratioReturn per unit of downside risk
1.97
2.02

-0.05

Omega ratioGain probability vs. loss probability

1.23

1.26

-0.02

Calmar ratioReturn relative to maximum drawdown

1.76

1.79

-0.04

Martin ratioReturn relative to average drawdown

5.27

5.50

-0.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIXD vs. FIBR - Sharpe Ratio Comparison

The current FIXD Sharpe Ratio is 1.34, which is comparable to the FIBR Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of FIXD and FIBR, 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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Sharpe Ratios by Period

FIXDFIBRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.34

1.41

-0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.05

0.27

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.46

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.50

-0.15

Drawdowns

FIXD vs. FIBR - Drawdown Comparison

The maximum FIXD drawdown since its inception was -20.44%, which is greater than FIBR's maximum drawdown of -18.47%. Use the drawdown chart below to compare losses from any high point for FIXD and FIBR.

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Drawdown Indicators

FIXDFIBRDifference

Max Drawdown

Largest peak-to-trough decline

-20.44%

-18.47%

-1.97%

Max Drawdown (1Y)

Largest decline over 1 year

-3.21%

-2.99%

-0.22%

Max Drawdown (3Y)

Largest decline over 3 years

-6.97%

-3.08%

-3.89%

Max Drawdown (5Y)

Largest decline over 5 years

-20.44%

-18.47%

-1.97%

Max Drawdown (10Y)

Largest decline over 10 years

—

-18.47%

—

Current Drawdown

Current decline from peak

-3.55%

-1.79%

-1.76%

Average Drawdown

Average peak-to-trough decline

-5.50%

-3.27%

-2.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.07%

0.97%

+0.10%

Volatility

FIXD vs. FIBR - Volatility Comparison

First Trust Smith Opportunistic Fixed Income ETF (FIXD) has a higher volatility of 1.63% compared to iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR) at 1.40%. This indicates that FIXD's price experiences larger fluctuations and is considered to be riskier than FIBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FIXDFIBRDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.63%

1.40%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

3.13%

3.10%

+0.03%

Volatility (1Y)

Calculated over the trailing 1-year period

4.20%

3.80%

+0.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.58%

5.63%

+0.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.84%

4.95%

+0.89%

FIXD vs. FIBR - Expense Ratio Comparison

FIXD has a 0.65% expense ratio, which is higher than FIBR's 0.25% expense ratio.

Dividends

FIXD vs. FIBR - Dividend Comparison

FIXD's dividend yield for the trailing twelve months is around 4.69%, more than FIBR's 4.62% yield.

PositionTTM20252024202320222021202020192018201720162015
FIBR
iShares U.S. Fixed Income Balanced Risk Systematic ETF		4.62%4.78%5.04%4.44%3.27%1.92%2.57%3.27%3.61%2.74%2.92%2.26%
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

FIXD and FIBR 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.

FIXD has higher volatility (1.63%) compared to FIBR (1.40%). In terms of maximum drawdown, FIXD dropped -20.44% vs FIBR's -18.47%.

On 5-year performance, FIBR leads with 1.54% vs -0.35% for FIXD. On fees, FIBR is cheaper at 0.25% per year. On volatility, FIBR has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FIBR has performed better with a 1.54% return vs -0.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FIBR is cheaper with a 0.25% expense ratio, compared with 0.65% for FIXD.

FIXD has the higher dividend yield at 4.69%, compared with 4.62% for FIBR.

They also come from different issuers: First Trust and iShares. Their fees differ too: 0.65% for FIXD and 0.25% for FIBR.

FIBR currently has the higher Sharpe Ratio (1.41 vs 1.34), 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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