FNMIX vs. FTBFX
FNMIX (Fidelity New Markets Income Fund) and FTBFX (Fidelity Total Bond Fund) are both mutual funds - FNMIX is a Emerging Markets Bonds fund managed by Fidelity, while FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Over the past 10 years, FNMIX returned 4.02%/yr vs 2.46%/yr for FTBFX. At a 0.42 correlation, their price movements are largely independent. FNMIX charges 0.80%/yr vs 0.45%/yr for FTBFX.
Performance
FNMIX vs. FTBFX - Performance Comparison
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Returns By Period
In the year-to-date period, FNMIX achieves a 4.33% return, which is significantly higher than FTBFX's 0.57% return. Over the past 10 years, FNMIX has outperformed FTBFX with an annualized return of 4.02%, while FTBFX has yielded a comparatively lower 2.46% annualized return.
FNMIX
- 1D
- 0.07%
- 1M
- 2.00%
- YTD
- 4.33%
- 6M
- 4.81%
- 1Y
- 15.76%
- 3Y*
- 12.49%
- 5Y*
- 3.85%
- 10Y*
- 4.02%
FTBFX
- 1D
- 0.21%
- 1M
- 0.89%
- YTD
- 0.57%
- 6M
- 0.92%
- 1Y
- 5.08%
- 3Y*
- 4.76%
- 5Y*
- 0.58%
- 10Y*
- 2.46%
FNMIX vs. FTBFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNMIX Fidelity New Markets Income Fund | 4.33% | 14.86% | 6.80% | 14.00% | -16.09% | -2.42% | 4.62% | 10.93% | -7.77% | 10.16% |
FTBFX Fidelity Total Bond Fund | 0.57% | 7.50% | 2.13% | 7.25% | -13.58% | -0.44% | 9.34% | 9.89% | -0.66% | 4.19% |
Correlation
The correlation between FNMIX and FTBFX is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2002 | 0.42 |
The correlation between FNMIX and FTBFX shifts across timeframes, from 0.42 (all time) to 0.65 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FNMIX vs. FTBFX — Risk / Return Rank
FNMIX
FTBFX
FNMIX vs. FTBFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New Markets Income Fund (FNMIX) and Fidelity Total Bond Fund (FTBFX). 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.
| FNMIX | FTBFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.18 | ||
| Sortino ratioReturn per unit of downside risk | +3.86 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 1.24 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 4.06 | 1.76 | +2.30 |
| Martin ratioReturn relative to average drawdown | 17.75 | 5.10 | +12.65 |
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Drawdowns
FNMIX vs. FTBFX - Drawdown Comparison
The maximum FNMIX drawdown since its inception was -42.76%, which is greater than FTBFX's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for FNMIX and FTBFX.
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Drawdown Indicators
| FNMIX | FTBFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -18.25% | -24.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.85% | -2.89% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -6.42% | -5.82% | -0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -27.16% | -18.25% | -8.91% |
Max Drawdown (10Y)Largest decline over 10 years | -27.16% | -18.25% | -8.91% |
Current DrawdownCurrent decline from peak | -0.21% | -1.31% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -2.32% | -3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.00% | -0.12% |
Volatility
FNMIX vs. FTBFX - Volatility Comparison
Fidelity New Markets Income Fund (FNMIX) and Fidelity Total Bond Fund (FTBFX) have volatilities of 1.22% and 1.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNMIX | FTBFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.21% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 2.88% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.45% | 3.80% | +0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 5.67% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.92% | 4.73% | +2.19% |
FNMIX vs. FTBFX - Expense Ratio Comparison
FNMIX has a 0.80% expense ratio, which is higher than FTBFX's 0.45% expense ratio.
Dividends
FNMIX vs. FTBFX - Dividend Comparison
FNMIX's dividend yield for the trailing twelve months is around 4.86%, more than FTBFX's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNMIX Fidelity New Markets Income Fund | 4.86% | 5.07% | 4.71% | 5.15% | 3.93% | 3.48% | 4.06% | 4.87% | 4.98% | 5.77% | 6.93% | 4.95% |
FTBFX Fidelity Total Bond Fund | 4.36% | 4.36% | 4.15% | 4.15% | 2.54% | 1.89% | 5.22% | 3.03% | 3.19% | 2.97% | 3.61% | 3.30% |
Frequently Asked Questions
FNMIX and FTBFX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNMIX has higher volatility (1.22%) compared to FTBFX (1.21%). In terms of maximum drawdown, FNMIX dropped -42.76% vs FTBFX's -18.25%.
FNMIX currently has the higher Sharpe Ratio (3.52 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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