FSEC vs. IBTO
FSEC (Fidelity Investment Grade Securitized ETF) and IBTO (iShares iBonds Dec 2033 Term Treasury ETF) are both Intermediate Core Bond funds. FSEC is actively managed, while IBTO is passively managed. Over the past year, FSEC returned 6.18% vs 2.97% for IBTO. Their correlation of 0.83 suggests significant overlap in exposure. FSEC charges 0.36%/yr vs 0.07%/yr for IBTO.
Performance
FSEC vs. IBTO - Performance Comparison
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Returns By Period
In the year-to-date period, FSEC achieves a 1.14% return, which is significantly higher than IBTO's -0.53% return.
FSEC
- 1D
- 0.27%
- 1M
- 0.68%
- YTD
- 1.14%
- 6M
- 1.38%
- 1Y
- 6.18%
- 3Y*
- 4.91%
- 5Y*
- 0.58%
- 10Y*
- —
IBTO
- 1D
- 0.10%
- 1M
- 0.47%
- YTD
- -0.53%
- 6M
- -0.45%
- 1Y
- 2.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FSEC vs. IBTO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FSEC Fidelity Investment Grade Securitized ETF | 1.14% | 8.33% | 2.40% | 2.63% |
IBTO iShares iBonds Dec 2033 Term Treasury ETF | -0.53% | 8.23% | -0.87% | 1.71% |
Correlation
The correlation between FSEC and IBTO is 0.81, 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 | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023 | 0.83 |
The correlation between FSEC and IBTO has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
FSEC vs. IBTO — Risk / Return Rank
FSEC
IBTO
FSEC vs. IBTO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Securitized ETF (FSEC) and iShares iBonds Dec 2033 Term Treasury ETF (IBTO). 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.
| FSEC | IBTO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.12 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 0.82 | +1.64 |
| Martin ratioReturn relative to average drawdown | 6.70 | 2.14 | +4.56 |
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Drawdowns
FSEC vs. IBTO - Drawdown Comparison
The maximum FSEC drawdown since its inception was -17.97%, which is greater than IBTO's maximum drawdown of -8.36%. Use the drawdown chart below to compare losses from any high point for FSEC and IBTO.
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Drawdown Indicators
| FSEC | IBTO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.97% | -8.36% | -9.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -3.66% | +1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -7.32% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.97% | — | — |
Current DrawdownCurrent decline from peak | -0.93% | -2.59% | +1.66% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -2.37% | -4.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 1.39% | -0.47% |
Volatility
FSEC vs. IBTO - Volatility Comparison
Fidelity Investment Grade Securitized ETF (FSEC) and iShares iBonds Dec 2033 Term Treasury ETF (IBTO) have volatilities of 1.29% and 1.27%, 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
| FSEC | IBTO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.27% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 3.14% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.29% | 4.39% | +0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.78% | 6.59% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.60% | 6.59% | +0.01% |
FSEC vs. IBTO - Expense Ratio Comparison
FSEC has a 0.36% expense ratio, which is higher than IBTO's 0.07% expense ratio.
Dividends
FSEC vs. IBTO - Dividend Comparison
FSEC's dividend yield for the trailing twelve months is around 4.43%, more than IBTO's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FSEC Fidelity Investment Grade Securitized ETF | 4.43% | 4.22% | 3.22% | 3.41% | 2.21% | 0.96% |
IBTO iShares iBonds Dec 2033 Term Treasury ETF | 4.15% | 4.05% | 4.23% | 1.66% | 0.00% | 0.00% |
Frequently Asked Questions
FSEC and IBTO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSEC has higher volatility (1.29%) compared to IBTO (1.27%). In terms of maximum drawdown, FSEC dropped -17.97% vs IBTO's -8.36%.
On 1-year performance, FSEC leads with 6.18% vs 2.97% for IBTO. On fees, IBTO is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FSEC has performed better with a 6.18% return vs 2.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTO is cheaper with a 0.07% expense ratio, compared with 0.36% for FSEC.
FSEC has the higher dividend yield at 4.43%, compared with 4.15% for IBTO.
They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.36% for FSEC and 0.07% for IBTO.
FSEC currently has the higher Sharpe Ratio (1.17 vs 0.68), 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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