FSEC vs. FTBFX

Last updated Jun 3, 2026

FSEC (Fidelity Investment Grade Securitized ETF) and FTBFX (Fidelity Total Bond Fund) are both funds - FSEC is a Intermediate Core Bond fund actively managed by Fidelity, while FTBFX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, FSEC returned 0.57%/yr vs 0.72%/yr for FTBFX. A 0.79 correlation means they provide meaningful diversification when combined. FSEC charges 0.36%/yr vs 0.45%/yr for FTBFX.

Performance

FSEC vs. FTBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Investment Grade Securitized ETF (FSEC) and Fidelity Total Bond Fund (FTBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSEC achieves a 0.97% return, which is significantly higher than FTBFX's 0.57% return.

FSEC

• 1D: 0.00%
• 1M: 0.20%
• YTD: 0.97%
• 6M: 1.42%
• 1Y: 7.15%
• 3Y*: 4.89%
• 5Y*: 0.57%
• 10Y*: —

FTBFX

• 1D: -0.10%
• 1M: 0.15%
• YTD: 0.57%
• 6M: 0.50%
• 1Y: 5.75%
• 3Y*: 4.84%
• 5Y*: 0.72%
• 10Y*: 2.47%

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

FSEC vs. FTBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSEC Fidelity Investment Grade Securitized ETF	0.97%	8.33%	2.40%	5.22%	-12.62%	-0.49%
FTBFX Fidelity Total Bond Fund	0.57%	7.50%	2.13%	7.25%	-13.58%	2.18%

Correlation

The correlation between FSEC and FTBFX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Mar 5, 2021	0.79

The correlation between FSEC and FTBFX has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.

Return for Risk

FSEC vs. FTBFX — Risk / Return Rank

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

FSEC

FSEC Risk / Return Rank: 43
FSEC Sharpe Ratio Rank: 38
FSEC Sortino Ratio Rank: 40
FSEC Omega Ratio Rank: 39
FSEC Calmar Ratio Rank: 52
FSEC Martin Ratio Rank: 45

FTBFX

FTBFX Risk / Return Rank: 24
FTBFX Sharpe Ratio Rank: 22
FTBFX Sortino Ratio Rank: 24
FTBFX Omega Ratio Rank: 22
FTBFX Calmar Ratio Rank: 29
FTBFX Martin Ratio Rank: 25

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.

FSEC vs. FTBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Securitized ETF (FSEC) 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.

	FSEC	FTBFX	Difference
Sharpe ratio Return per unit of total volatility	1.35	1.40	-0.05
Sortino ratio Return per unit of downside risk	2.04	2.10	-0.06
Omega ratio Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio Return relative to maximum drawdown	2.63	2.08	+0.55
Martin ratio Return relative to average drawdown	7.56	6.41	+1.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSEC vs. FTBFX - Sharpe Ratio Comparison

The current FSEC Sharpe Ratio is 1.35, which is comparable to the FTBFX Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of FSEC and FTBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSEC	FTBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	1.40	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.13	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.93	-0.85

Drawdowns

FSEC vs. FTBFX - Drawdown Comparison

The maximum FSEC drawdown since its inception was -17.97%, roughly equal to the maximum FTBFX drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for FSEC and FTBFX.

Drawdown Indicators

	FSEC	FTBFX	Difference
Max Drawdown Largest peak-to-trough decline	-17.97%	-18.25%	+0.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-2.89%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-7.32%	-5.82%	-1.50%
Max Drawdown (5Y) Largest decline over 5 years	-17.97%	-18.25%	+0.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.25%	—
Current Drawdown Current decline from peak	-1.09%	-1.31%	+0.22%
Average Drawdown Average peak-to-trough decline	-6.64%	-2.32%	-4.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.94%	-0.06%

Volatility

FSEC vs. FTBFX - Volatility Comparison

Fidelity Investment Grade Securitized ETF (FSEC) has a higher volatility of 1.51% compared to Fidelity Total Bond Fund (FTBFX) at 1.40%. This indicates that FSEC's price experiences larger fluctuations and is considered to be riskier than FTBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSEC	FTBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.51%	1.40%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	3.11%	2.81%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	5.35%	3.89%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.76%	5.67%	+1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.61%	4.73%	+1.88%

FSEC vs. FTBFX - Expense Ratio Comparison

FSEC has a 0.36% expense ratio, which is lower than FTBFX's 0.45% expense ratio.

Dividends

FSEC vs. FTBFX - Dividend Comparison

FSEC's dividend yield for the trailing twelve months is around 4.44%, more than FTBFX's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSEC Fidelity Investment Grade Securitized ETF	4.44%	4.22%	3.22%	3.41%	2.21%	0.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both FSEC and FTBFX in my portfolio?

FSEC and FTBFX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSEC or FTBFX?

FSEC has higher volatility (1.51%) compared to FTBFX (1.40%). In terms of maximum drawdown, FSEC dropped -17.97% vs FTBFX's -18.25%.

Which has better risk-adjusted returns?

FTBFX currently has the higher Sharpe Ratio (1.40 vs 1.35), 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.