HBRD vs. FLDR
HBRD (Invesco U.S. Hybrid Bond ETF) and FLDR (Fidelity Low Duration Bond Factor ETF) are both exchange-traded funds - HBRD is a Corporate Bonds fund tracking the ICE USD Developed Markets Corporate Ex-Banks Hybrid Bond 4.85% Constrained Index, while FLDR is a Short-Term Bond fund tracking the Fidelity Low Duration Investment Grade Factor Index. Both are passively managed. Their 0.55 correlation means they have sometimes moved together and sometimes differently. HBRD charges 0.40%/yr vs 0.15%/yr for FLDR.
Performance
HBRD vs. FLDR - Performance Comparison
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Returns By Period
HBRD
- 1D
- 0.02%
- 1M
- -0.47%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FLDR
- 1D
- 0.06%
- 1M
- 0.09%
- 6M
- 1.67%
- YTD
- 1.87%
- 1Y
- 4.29%
- 3Y*
- 5.24%
- 5Y*
- 3.71%
- 10Y*
- —
- ALL TIME*
- 3.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.61M | $13.67M | $20.75M | |
| $169.16 | $296.60 | $2.86K |
HBRD vs. FLDR - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
HBRD Invesco U.S. Hybrid Bond ETF | -0.24% |
FLDR Fidelity Low Duration Bond Factor ETF | 1.16% |
Correlation
The correlation between HBRD and FLDR is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 25, 2026 | 0.55 |
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Return for Risk
HBRD vs. FLDR — Risk / Return Rank
HBRD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FLDR
HBRD vs. FLDR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco U.S. Hybrid Bond ETF (HBRD) and Fidelity Low Duration Bond Factor ETF (FLDR). 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.
| HBRD | FLDR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 2.47 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 9.22 | — |
| Martin ratioReturn relative to average drawdown | — | 60.50 | — |
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Drawdowns
HBRD vs. FLDR - Drawdown Comparison
The maximum HBRD drawdown since its inception was -2.94%, smaller than the maximum FLDR drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for HBRD and FLDR.
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Drawdown Indicators
| HBRD | FLDR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.94% | -12.23% | +9.29% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.47% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.76% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.33% | — |
Current DrawdownCurrent decline from peak | -0.67% | -0.08% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -0.64% | -0.34% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.07% | — |
Volatility
HBRD vs. FLDR - Volatility Comparison
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Volatility by Period
| HBRD | FLDR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.24% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.63% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.25% | 0.81% | +2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.25% | 1.21% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.25% | 5.22% | -1.97% |
HBRD vs. FLDR - Expense Ratio Comparison
HBRD has a 0.40% expense ratio, which is higher than FLDR's 0.15% expense ratio.
Dividends
HBRD vs. FLDR - Dividend Comparison
HBRD's dividend yield for the trailing twelve months is around 2.49%, less than FLDR's 4.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FLDR Fidelity Low Duration Bond Factor ETF | 4.33% | 4.66% | 5.50% | 5.28% | 2.09% | 0.51% | 1.22% | 2.69% | 1.38% |
HBRD Invesco U.S. Hybrid Bond ETF | 2.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HBRD and FLDR have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLDR is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLDR is cheaper with a 0.15% expense ratio, compared with 0.40% for HBRD.
FLDR has the higher dividend yield at 4.33%, compared with 2.49% for HBRD.
HBRD is categorized as Corporate Bonds, while FLDR is Short-Term Bond. HBRD tracks ICE USD Developed Markets Corporate Ex-Banks Hybrid Bond 4.85% Constrained Index, while FLDR tracks Fidelity Low Duration Investment Grade Factor Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.40% for HBRD and 0.15% for FLDR.
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