FTBD vs. FDVV

Last updated Jun 4, 2026

FTBD (Fidelity Tactical Bond ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - FTBD is a Nontraditional Bonds fund actively managed by Fidelity, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. FTBD is actively managed, while FDVV is passively managed. Over the past 3 years, FTBD returned 5.08%/yr vs 20.08%/yr for FDVV. At a 0.31 correlation, their price movements are largely independent. FTBD charges 0.55%/yr vs 0.29%/yr for FDVV.

Performance

FTBD vs. FDVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Tactical Bond ETF (FTBD) and Fidelity High Dividend ETF (FDVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTBD achieves a 0.99% return, which is significantly lower than FDVV's 8.39% return.

FTBD

• 1D: -0.17%
• 1M: 0.44%
• YTD: 0.99%
• 6M: 0.67%
• 1Y: 6.48%
• 3Y*: 5.08%
• 5Y*: —
• 10Y*: —

FDVV

• 1D: -1.12%
• 1M: 4.44%
• YTD: 8.39%
• 6M: 8.67%
• 1Y: 23.45%
• 3Y*: 20.08%
• 5Y*: 13.36%
• 10Y*: —

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

FTBD vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTBD Fidelity Tactical Bond ETF	0.99%	8.35%	1.77%	3.73%
FDVV Fidelity High Dividend ETF	8.39%	17.08%	21.81%	11.57%

Correlation

The correlation between FTBD and FDVV is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jan 27, 2023	0.31

FTBD vs. FDVV - Sectors Allocation Comparison

Sectors	FTBD	FDVV
Energy	100.0%	-
Basic Materials	-	-
Communication Services	-	3.7%
Consumer Cyclical	-	13.6%
Consumer Defensive	-	11.0%
Financial Services	-	17.0%
Healthcare	-	3.1%
Industrials	-	3.4%
Real Estate	-	10.1%
Technology	-	29.1%
Utilities	-	8.7%

Return for Risk

FTBD vs. FDVV — Risk / Return Rank

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

FTBD

FTBD Risk / Return Rank: 44
FTBD Sharpe Ratio Rank: 42
FTBD Sortino Ratio Rank: 45
FTBD Omega Ratio Rank: 41
FTBD Calmar Ratio Rank: 44
FTBD Martin Ratio Rank: 46

FDVV

FDVV Risk / Return Rank: 64
FDVV Sharpe Ratio Rank: 70
FDVV Sortino Ratio Rank: 71
FDVV Omega Ratio Rank: 71
FDVV Calmar Ratio Rank: 50
FDVV Martin Ratio Rank: 58

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.

FTBD vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Tactical Bond ETF (FTBD) and Fidelity High Dividend ETF (FDVV). 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.

	FTBD	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.35	-0.84
Sortino ratio: Return per unit of downside risk	2.22	3.28	-1.06
Omega ratio: Gain probability vs. loss probability	1.27	1.43	-0.17
Calmar ratio: Return relative to maximum drawdown	2.18	2.53	-0.35
Martin ratio: Return relative to average drawdown	7.50	10.54	-3.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTBD vs. FDVV - Sharpe Ratio Comparison

The current FTBD Sharpe Ratio is 1.51, which is lower than the FDVV Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of FTBD and FDVV, 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

	FTBD	FDVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	2.35	-0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.79	-0.04

Drawdowns

FTBD vs. FDVV - Drawdown Comparison

The maximum FTBD drawdown since its inception was -6.98%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for FTBD and FDVV.

Drawdown Indicators

	FTBD	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-6.98%	-40.25%	+33.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	-9.30%	+6.32%
Max Drawdown (3Y) Largest decline over 3 years	-6.56%	-15.90%	+9.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.18%	—
Current Drawdown Current decline from peak	-1.15%	-1.12%	-0.03%
Average Drawdown Average peak-to-trough decline	-1.57%	-3.81%	+2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	2.23%	-1.36%

Volatility

FTBD vs. FDVV - Volatility Comparison

The current volatility for Fidelity Tactical Bond ETF (FTBD) is 1.47%, while Fidelity High Dividend ETF (FDVV) has a volatility of 3.14%. This indicates that FTBD experiences smaller price fluctuations and is considered to be less risky than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTBD	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	3.14%	-1.67%
Volatility (6M) Calculated over the trailing 6-month period	3.17%	7.99%	-4.82%
Volatility (1Y) Calculated over the trailing 1-year period	4.32%	10.06%	-5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.87%	14.75%	-8.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.87%	17.00%	-11.13%

FTBD vs. FDVV - Expense Ratio Comparison

FTBD has a 0.55% expense ratio, which is higher than FDVV's 0.29% expense ratio.

Dividends

FTBD vs. FDVV - Dividend Comparison

FTBD's dividend yield for the trailing twelve months is around 5.03%, more than FDVV's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDVV Fidelity High Dividend ETF	2.72%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%
FTBD Fidelity Tactical Bond ETF	5.03%	5.04%	4.76%	4.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTBD and FDVV in my portfolio?

FTBD and FDVV have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTBD or FDVV?

FDVV has higher volatility (3.14%) compared to FTBD (1.47%). In terms of maximum drawdown, FTBD dropped -6.98% vs FDVV's -40.25%.

Which ETF is better, FTBD or FDVV?

On 3-year performance, FDVV leads with 20.08% vs 5.08% for FTBD. On fees, FDVV is cheaper at 0.29% per year. On volatility, FTBD has been the lower-risk option at 1.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTBD or FDVV?

Over the 3-year period, FDVV has performed better with a 20.08% return vs 5.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTBD or FDVV?

FDVV is cheaper with a 0.29% expense ratio, compared with 0.55% for FTBD.

Which ETF pays a higher dividend yield, FTBD or FDVV?

FTBD has the higher dividend yield at 5.03%, compared with 2.72% for FDVV.

What is the main difference between FTBD and FDVV?

FTBD is categorized as Nontraditional Bonds, while FDVV is Large Cap Blend Equities. Their fees differ too: 0.55% for FTBD and 0.29% for FDVV.

Which has better risk-adjusted returns?

FDVV currently has the higher Sharpe Ratio (2.35 vs 1.51), 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.