FTKFX vs. FBNDX

Last updated Jun 4, 2026

FTKFX (Fidelity Total Bond K6 Fund) and FBNDX (Fidelity Investment Grade Bond Fund) are both Total Bond Market funds from Fidelity. Over the past 5 years, FTKFX returned 0.80%/yr vs 0.20%/yr for FBNDX. With a 0.96 correlation, they move nearly in lockstep. FTKFX charges 0.30%/yr vs 0.45%/yr for FBNDX.

Performance

FTKFX vs. FBNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Total Bond K6 Fund (FTKFX) and Fidelity Investment Grade Bond Fund (FBNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTKFX achieves a 0.69% return, which is significantly higher than FBNDX's 0.34% return.

FTKFX

• 1D: 0.11%
• 1M: 0.49%
• YTD: 0.69%
• 6M: 0.59%
• 1Y: 5.88%
• 3Y*: 4.74%
• 5Y*: 0.80%
• 10Y*: —

FBNDX

• 1D: 0.00%
• 1M: 0.47%
• YTD: 0.34%
• 6M: 0.16%
• 1Y: 5.13%
• 3Y*: 4.08%
• 5Y*: 0.20%
• 10Y*: 2.12%

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

FTKFX vs. FBNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTKFX Fidelity Total Bond K6 Fund	0.69%	7.53%	2.36%	6.65%	-13.23%	-0.46%	8.75%	10.03%	-0.75%	1.14%
FBNDX Fidelity Investment Grade Bond Fund	0.34%	7.37%	0.93%	6.51%	-14.04%	-1.13%	9.79%	9.82%	-0.35%	1.22%

Correlation

The correlation between FTKFX and FBNDX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 6, 2017	0.96

The correlation between FTKFX and FBNDX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

FTKFX vs. FBNDX — Risk / Return Rank

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

FTKFX

FTKFX Risk / Return Rank: 28
FTKFX Sharpe Ratio Rank: 28
FTKFX Sortino Ratio Rank: 29
FTKFX Omega Ratio Rank: 26
FTKFX Calmar Ratio Rank: 31
FTKFX Martin Ratio Rank: 25

FBNDX

FBNDX Risk / Return Rank: 19
FBNDX Sharpe Ratio Rank: 19
FBNDX Sortino Ratio Rank: 20
FBNDX Omega Ratio Rank: 18
FBNDX Calmar Ratio Rank: 21
FBNDX Martin Ratio Rank: 19

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.

FTKFX vs. FBNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond K6 Fund (FTKFX) 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.

	FTKFX	FBNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.25	+0.23
Sortino ratio: Return per unit of downside risk	2.22	1.88	+0.34
Omega ratio: Gain probability vs. loss probability	1.27	1.22	+0.05
Calmar ratio: Return relative to maximum drawdown	2.10	1.70	+0.40
Martin ratio: Return relative to average drawdown	6.24	5.10	+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.

FTKFX vs. FBNDX - Sharpe Ratio Comparison

The current FTKFX Sharpe Ratio is 1.49, which is comparable to the FBNDX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of FTKFX and FBNDX, 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

	FTKFX	FBNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.25	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.03	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.53	-0.06

Drawdowns

FTKFX vs. FBNDX - Drawdown Comparison

The maximum FTKFX drawdown since its inception was -17.81%, smaller than the maximum FBNDX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for FTKFX and FBNDX.

Drawdown Indicators

	FTKFX	FBNDX	Difference
Max Drawdown Largest peak-to-trough decline	-17.81%	-42.76%	+24.95%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-3.02%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-5.77%	-6.09%	+0.32%
Max Drawdown (5Y) Largest decline over 5 years	-17.81%	-18.74%	+0.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.74%	—
Current Drawdown Current decline from peak	-1.22%	-1.62%	+0.40%
Average Drawdown Average peak-to-trough decline	-4.19%	-10.34%	+6.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	1.01%	-0.06%

Volatility

FTKFX vs. FBNDX - Volatility Comparison

Fidelity Total Bond K6 Fund (FTKFX) and Fidelity Investment Grade Bond Fund (FBNDX) have volatilities of 1.35% and 1.39%, 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.

Volatility by Period

	FTKFX	FBNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.39%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	2.92%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.99%	4.12%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.66%	6.03%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.92%	5.02%	-0.10%

FTKFX vs. FBNDX - Expense Ratio Comparison

FTKFX has a 0.30% expense ratio, which is lower than FBNDX's 0.45% expense ratio.

Dividends

FTKFX vs. FBNDX - Dividend Comparison

FTKFX's dividend yield for the trailing twelve months is around 4.61%, more than FBNDX's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBNDX Fidelity Investment Grade Bond Fund	3.91%	3.87%	3.34%	3.56%	1.98%	1.34%	4.70%	2.75%	2.86%	2.18%	2.72%	2.66%
FTKFX Fidelity Total Bond K6 Fund	4.61%	4.61%	4.76%	3.86%	2.53%	2.24%	5.51%	3.26%	2.94%	1.63%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTKFX and FBNDX in my portfolio?

With a correlation of 0.95, FTKFX 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.

Which is riskier, FTKFX or FBNDX?

FBNDX has higher volatility (1.39%) compared to FTKFX (1.35%). In terms of maximum drawdown, FTKFX dropped -17.81% vs FBNDX's -42.76%.

Which has better risk-adjusted returns?

FTKFX currently has the higher Sharpe Ratio (1.49 vs 1.25), 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.