FJRLX vs. FBND

Last updated Jun 23, 2026

FJRLX (Fidelity Limited Term Bond Fund) and FBND (Fidelity Total Bond ETF) are both funds - FJRLX is a Total Bond Market fund managed by Fidelity, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Over the past 10 years, FJRLX returned 2.34%/yr vs 2.53%/yr for FBND. A 0.71 correlation means they provide meaningful diversification when combined. FJRLX charges 0.45%/yr vs 0.36%/yr for FBND.

Performance

FJRLX vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Limited Term Bond Fund (FJRLX) 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, FJRLX achieves a 0.54% return, which is significantly lower than FBND's 0.61% return. Over the past 10 years, FJRLX has underperformed FBND with an annualized return of 2.34%, while FBND has yielded a comparatively higher 2.53% annualized return.

FJRLX

• 1D: 0.17%
• 1M: 0.44%
• YTD: 0.54%
• 6M: 0.96%
• 1Y: 4.24%
• 3Y*: 5.43%
• 5Y*: 2.13%
• 10Y*: 2.34%

FBND

• 1D: -0.26%
• 1M: 0.58%
• YTD: 0.61%
• 6M: 0.71%
• 1Y: 4.87%
• 3Y*: 4.69%
• 5Y*: 0.78%
• 10Y*: 2.53%

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

FJRLX vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FJRLX Fidelity Limited Term Bond Fund	0.54%	6.70%	4.62%	6.26%	-6.22%	-1.46%	5.16%	6.04%	0.71%	1.89%
FBND Fidelity Total Bond ETF	0.61%	7.57%	2.13%	6.81%	-12.54%	-0.43%	9.41%	9.82%	-0.57%	3.52%

Correlation

The correlation between FJRLX and FBND is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014	0.71

The correlation between FJRLX and FBND shifts across timeframes, from 0.71 (all time) to 0.81 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FJRLX vs. FBND — Risk / Return Rank

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

FJRLX

FJRLX Risk / Return Rank: 60
FJRLX Sharpe Ratio Rank: 52
FJRLX Sortino Ratio Rank: 75
FJRLX Omega Ratio Rank: 71
FJRLX Calmar Ratio Rank: 51
FJRLX Martin Ratio Rank: 50

FBND

FBND Risk / Return Rank: 36
FBND Sharpe Ratio Rank: 36
FBND Sortino Ratio Rank: 38
FBND Omega Ratio Rank: 34
FBND Calmar Ratio Rank: 38
FBND Martin Ratio Rank: 35

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.

FJRLX vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Bond Fund (FJRLX) 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.

	FJRLX	FBND	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.28	+0.68
Sortino ratio: Return per unit of downside risk	3.31	1.91	+1.41
Omega ratio: Gain probability vs. loss probability	1.42	1.22	+0.20
Calmar ratio: Return relative to maximum drawdown	2.62	1.83	+0.78
Martin ratio: Return relative to average drawdown	9.75	5.27	+4.48

FJRLX vs. FBND - Sharpe Ratio Comparison

The current FJRLX Sharpe Ratio is 1.96, which is higher than the FBND Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of FJRLX 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.

Drawdowns

FJRLX vs. FBND - Drawdown Comparison

The maximum FJRLX drawdown since its inception was -9.89%, smaller than the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for FJRLX and FBND.

Drawdown Indicators

	FJRLX	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-9.89%	-17.25%	+7.36%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	-2.66%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-1.63%	-5.94%	+4.31%
Max Drawdown (5Y) Largest decline over 5 years	-9.71%	-17.25%	+7.54%
Max Drawdown (10Y) Largest decline over 10 years	-9.89%	-17.25%	+7.36%
Current Drawdown Current decline from peak	-0.43%	-1.32%	+0.89%
Average Drawdown Average peak-to-trough decline	-1.34%	-3.34%	+2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.93%	-0.49%

Volatility

FJRLX vs. FBND - Volatility Comparison

The current volatility for Fidelity Limited Term Bond Fund (FJRLX) is 0.81%, while Fidelity Total Bond ETF (FBND) has a volatility of 1.12%. This indicates that FJRLX experiences smaller price fluctuations and is considered to be less risky than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJRLX	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	1.12%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	1.70%	2.85%	-1.15%
Volatility (1Y) Calculated over the trailing 1-year period	2.17%	3.83%	-1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.77%	5.93%	-3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.41%	6.10%	-3.69%

FJRLX vs. FBND - Expense Ratio Comparison

FJRLX has a 0.45% expense ratio, which is higher than FBND's 0.36% expense ratio.

Dividends

FJRLX vs. FBND - Dividend Comparison

FJRLX's dividend yield for the trailing twelve months is around 4.09%, 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%
FJRLX Fidelity Limited Term Bond Fund	4.09%	3.93%	3.08%	2.38%	1.26%	1.25%	2.38%	2.44%	2.29%	1.79%	1.88%	1.60%

Frequently Asked Questions

Can I hold both FJRLX and FBND in my portfolio?

FJRLX and FBND have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FJRLX or FBND?

FBND has higher volatility (1.12%) compared to FJRLX (0.81%). In terms of maximum drawdown, FJRLX dropped -9.89% vs FBND's -17.25%.

Which has better risk-adjusted returns?

FJRLX currently has the higher Sharpe Ratio (1.96 vs 1.28), 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.