IBDR vs. FXNAX
IBDR (iShares iBonds Dec 2026 Term Corporate ETF) and FXNAX (Fidelity U.S. Bond Index Fund) are both funds - IBDR is a Corporate Bonds fund tracking the Barclays December 2026 Maturity Corporate Index, while FXNAX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. Over the past 5 years, IBDR returned 1.58%/yr vs -0.05%/yr for FXNAX. A 0.66 correlation means they provide meaningful diversification when combined. IBDR charges 0.10%/yr vs 0.03%/yr for FXNAX.
Performance
IBDR vs. FXNAX - Performance Comparison
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Returns By Period
In the year-to-date period, IBDR achieves a 1.69% return, which is significantly higher than FXNAX's 0.11% return.
IBDR
- 1D
- 0.04%
- 1M
- 0.29%
- YTD
- 1.69%
- 6M
- 1.81%
- 1Y
- 4.30%
- 3Y*
- 5.17%
- 5Y*
- 1.58%
- 10Y*
- —
FXNAX
- 1D
- -0.29%
- 1M
- 0.61%
- YTD
- 0.11%
- 6M
- 0.43%
- 1Y
- 4.25%
- 3Y*
- 3.88%
- 5Y*
- -0.05%
- 10Y*
- 1.44%
IBDR vs. FXNAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 1.69% | 4.99% | 4.98% | 5.96% | -8.28% | -1.79% | 8.88% | 14.81% | -2.80% | 5.96% |
FXNAX Fidelity U.S. Bond Index Fund | 0.11% | 7.14% | 1.35% | 5.82% | -13.55% | -2.10% | 7.63% | 8.50% | 0.04% | 3.50% |
Correlation
The correlation between IBDR and FXNAX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2016 | 0.66 |
Over the past year, the correlation between IBDR and FXNAX has dropped to 0.08 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.
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Return for Risk
IBDR vs. FXNAX — Risk / Return Rank
IBDR
FXNAX
IBDR vs. FXNAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Corporate ETF (IBDR) and Fidelity U.S. Bond Index Fund (FXNAX). 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.
| IBDR | FXNAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.68 | ||
| Sortino ratioReturn per unit of downside risk | +12.58 | ||
| Omega ratioGain probability vs. loss probability | 3.36 | 1.20 | +2.16 |
| Calmar ratioReturn relative to maximum drawdown | 52.23 | 1.52 | +50.71 |
| Martin ratioReturn relative to average drawdown | 181.59 | 4.36 | +177.22 |
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Drawdowns
IBDR vs. FXNAX - Drawdown Comparison
The maximum IBDR drawdown since its inception was -16.06%, smaller than the maximum FXNAX drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for IBDR and FXNAX.
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Drawdown Indicators
| IBDR | FXNAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.06% | -19.51% | +3.45% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -2.94% | +2.86% |
Max Drawdown (3Y)Largest decline over 3 years | -1.08% | -6.16% | +5.08% |
Max Drawdown (5Y)Largest decline over 5 years | -13.13% | -18.54% | +5.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.51% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.17% | +3.17% |
Average DrawdownAverage peak-to-trough decline | -2.82% | -3.86% | +1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 1.02% | -1.00% |
Volatility
IBDR vs. FXNAX - Volatility Comparison
The current volatility for iShares iBonds Dec 2026 Term Corporate ETF (IBDR) is 0.18%, while Fidelity U.S. Bond Index Fund (FXNAX) has a volatility of 1.16%. This indicates that IBDR experiences smaller price fluctuations and is considered to be less risky than FXNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBDR | FXNAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 1.16% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 0.35% | 2.90% | -2.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.63% | 3.92% | -3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.39% | 6.08% | -2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 5.01% | -0.16% |
IBDR vs. FXNAX - Expense Ratio Comparison
IBDR has a 0.10% expense ratio, which is higher than FXNAX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBDR vs. FXNAX - Dividend Comparison
IBDR's dividend yield for the trailing twelve months is around 4.12%, more than FXNAX's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXNAX Fidelity U.S. Bond Index Fund | 3.72% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 4.12% | 4.20% | 4.13% | 3.41% | 2.44% | 2.11% | 2.61% | 3.25% | 3.56% | 3.22% | 0.86% | 0.00% |
Frequently Asked Questions
IBDR and FXNAX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXNAX has higher volatility (1.16%) compared to IBDR (0.18%). In terms of maximum drawdown, IBDR dropped -16.06% vs FXNAX's -19.51%.
IBDR currently has the higher Sharpe Ratio (6.83 vs 1.14), 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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