FTBD vs. FBND
FTBD (Fidelity Tactical Bond ETF) and FBND (Fidelity Total Bond ETF) are both exchange-traded funds - FTBD is a Nontraditional Bonds fund actively managed by Fidelity, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Both are actively managed. Over the past 3 years, FTBD returned 4.86%/yr vs 4.55%/yr for FBND. Their correlation of 0.94 means they have usually moved in the same direction. FTBD charges 0.55%/yr vs 0.36%/yr for FBND.
Performance
FTBD vs. FBND - Performance Comparison
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Returns By Period
In the year-to-date period, FTBD achieves a 0.23% return, which is significantly higher than FBND's -0.33% return.
FTBD
- 1D
- -0.30%
- 1M
- -1.29%
- 6M
- -0.17%
- YTD
- 0.23%
- 1Y
- 2.85%
- 3Y*
- 4.86%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.94%
FBND
- 1D
- -0.27%
- 1M
- -1.26%
- 6M
- -0.60%
- YTD
- -0.33%
- 1Y
- 2.08%
- 3Y*
- 4.55%
- 5Y*
- 0.31%
- 10Y*
- 2.27%
- ALL TIME*
- 2.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.84M | $127.41M | $124.15M | |
| $249.36K | $231.06K | $183.56K |
FTBD vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FTBD Fidelity Tactical Bond ETF | 0.23% | 8.35% | 1.77% | 3.65% |
FBND Fidelity Total Bond ETF | -0.33% | 7.57% | 2.13% | 3.04% |
Correlation
The correlation between FTBD and FBND is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2023 | 0.94 |
The correlation between FTBD and FBND has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
FTBD vs. FBND — Risk / Return Rank
FTBD
FBND
FTBD vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Tactical Bond ETF (FTBD) 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.
| FTBD | FBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.13 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 1.09 | +0.14 |
| Martin ratioReturn relative to average drawdown | 3.79 | 2.77 | +1.02 |
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Drawdowns
FTBD vs. FBND - Drawdown Comparison
The maximum FTBD drawdown since its inception was -6.98%, smaller than the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for FTBD and FBND.
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Drawdown Indicators
| FTBD | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.98% | -17.25% | +10.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | -2.66% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -5.31% | -4.95% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.25% | — |
Current DrawdownCurrent decline from peak | -1.90% | -2.24% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -1.55% | -3.32% | +1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.05% | -0.09% |
Volatility
FTBD vs. FBND - Volatility Comparison
Fidelity Tactical Bond ETF (FTBD) has a higher volatility of 1.39% compared to Fidelity Total Bond ETF (FBND) at 0.95%. This indicates that FTBD's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTBD | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 0.95% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 3.45% | 2.94% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 3.77% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.80% | 5.93% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.80% | 6.10% | -0.30% |
FTBD vs. FBND - Expense Ratio Comparison
FTBD has a 0.55% expense ratio, which is higher than FBND's 0.36% expense ratio.
Dividends
FTBD vs. FBND - Dividend Comparison
FTBD's dividend yield for the trailing twelve months is around 5.09%, more than FBND's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.77% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
FTBD Fidelity Tactical Bond ETF | 5.09% | 5.04% | 4.76% | 4.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, FTBD and FBND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FTBD has higher volatility (1.39%) compared to FBND (0.95%). In terms of maximum drawdown, FTBD dropped -6.98% vs FBND's -17.25%.
On 3-year performance, FTBD leads with 4.86% vs 4.55% for FBND. On fees, FBND is cheaper at 0.36% per year. On volatility, FBND has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FTBD has performed better with a 4.86% return vs 4.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBND is cheaper with a 0.36% expense ratio, compared with 0.55% for FTBD.
FTBD has the higher dividend yield at 5.09%, compared with 4.77% for FBND.
FTBD is categorized as Nontraditional Bonds, while FBND is Intermediate Core-Plus Bond. Their fees differ too: 0.55% for FTBD and 0.36% for FBND.
FTBD currently has the higher Sharpe Ratio (0.85 vs 0.77), 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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