FTBFX vs. FBNDX
FTBFX (Fidelity Total Bond Fund) and FBNDX (Fidelity Investment Grade Bond Fund) are both mutual funds - FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity, while FBNDX is a Intermediate Core Bond fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FTBFX returned 2.41%/yr vs 2.05%/yr for FBNDX. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.
Performance
FTBFX vs. FBNDX - Performance Comparison
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Returns By Period
In the year-to-date period, FTBFX achieves a 0.25% return, which is significantly higher than FBNDX's 0.06% return. Over the past 10 years, FTBFX has outperformed FBNDX with an annualized return of 2.41%, while FBNDX has yielded a comparatively lower 2.05% annualized return.
FTBFX
- 1D
- -0.31%
- 1M
- 0.57%
- YTD
- 0.25%
- 6M
- 0.60%
- 1Y
- 4.53%
- 3Y*
- 4.65%
- 5Y*
- 0.57%
- 10Y*
- 2.41%
FBNDX
- 1D
- -0.28%
- 1M
- 0.61%
- YTD
- 0.06%
- 6M
- 0.38%
- 1Y
- 4.11%
- 3Y*
- 3.98%
- 5Y*
- -0.03%
- 10Y*
- 2.05%
FTBFX vs. FBNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTBFX Fidelity Total Bond Fund | 0.25% | 7.50% | 2.13% | 7.25% | -13.58% | -0.44% | 9.34% | 9.89% | -0.66% | 4.19% |
FBNDX Fidelity Investment Grade Bond Fund | 0.06% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 3.92% |
Correlation
The correlation between FTBFX and FBNDX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2002 | 0.94 |
The correlation between FTBFX and FBNDX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
FTBFX vs. FBNDX — Risk / Return Rank
FTBFX
FBNDX
FTBFX vs. FBNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond Fund (FTBFX) and Fidelity Investment Grade Bond Fund (FBNDX). 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.
| FTBFX | FBNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.41 | +0.23 |
| Martin ratioReturn relative to average drawdown | 4.75 | 3.96 | +0.79 |
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Drawdowns
FTBFX vs. FBNDX - Drawdown Comparison
The maximum FTBFX drawdown since its inception was -18.25%, smaller than the maximum FBNDX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for FTBFX and FBNDX.
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Drawdown Indicators
| FTBFX | FBNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.25% | -42.76% | +24.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -3.02% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -5.82% | -6.09% | +0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.25% | -18.74% | +0.49% |
Max Drawdown (10Y)Largest decline over 10 years | -18.25% | -18.74% | +0.49% |
Current DrawdownCurrent decline from peak | -1.62% | -1.89% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -10.34% | +8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.08% | -0.08% |
Volatility
FTBFX vs. FBNDX - Volatility Comparison
Fidelity Total Bond Fund (FTBFX) and Fidelity Investment Grade Bond Fund (FBNDX) have volatilities of 1.18% and 1.18%, 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
| FTBFX | FBNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.18% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 3.01% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 4.09% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 6.03% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 5.03% | -0.29% |
FTBFX vs. FBNDX - Expense Ratio Comparison
Both FTBFX and FBNDX have an expense ratio of 0.45%.
Dividends
FTBFX vs. FBNDX - Dividend Comparison
FTBFX's dividend yield for the trailing twelve months is around 4.37%, more than FBNDX's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 3.92% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
FTBFX Fidelity Total Bond Fund | 4.37% | 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
With a correlation of 0.96, FTBFX and FBNDX 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.
FBNDX has higher volatility (1.18%) compared to FTBFX (1.18%). In terms of maximum drawdown, FTBFX dropped -18.25% vs FBNDX's -42.76%.
FTBFX currently has the higher Sharpe Ratio (1.25 vs 1.05), 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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