IGEB vs. FBNDX
IGEB (iShares Investment Grade Bond Factor ETF) and FBNDX (Fidelity Investment Grade Bond Fund) are both funds - IGEB is a Corporate Bonds fund tracking the BlackRock Investment Grade Enhanced Bond Index, while FBNDX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, IGEB returned 1.10%/yr vs 0.20%/yr for FBNDX. Their correlation of 0.81 suggests significant overlap in exposure. IGEB charges 0.18%/yr vs 0.45%/yr for FBNDX.
Performance
IGEB vs. FBNDX - Performance Comparison
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Returns By Period
In the year-to-date period, IGEB achieves a 0.41% return, which is significantly higher than FBNDX's 0.34% return.
IGEB
- 1D
- -0.22%
- 1M
- 0.57%
- YTD
- 0.41%
- 6M
- 0.32%
- 1Y
- 5.98%
- 3Y*
- 5.88%
- 5Y*
- 1.10%
- 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%
IGEB vs. FBNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 0.41% | 8.17% | 3.10% | 9.56% | -14.85% | -1.14% | 11.23% | 15.42% | -2.05% | 1.53% |
FBNDX Fidelity Investment Grade Bond Fund | 0.34% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 1.56% |
Correlation
The correlation between IGEB and FBNDX is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017 | 0.81 |
The correlation between IGEB and FBNDX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
IGEB vs. FBNDX — Risk / Return Rank
IGEB
FBNDX
IGEB vs. FBNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Investment Grade Bond Factor ETF (IGEB) 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.
| IGEB | FBNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 1.70 | +0.38 |
| Martin ratioReturn relative to average drawdown | 6.81 | 5.10 | +1.71 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IGEB | FBNDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.25 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.03 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.53 | -0.04 |
Drawdowns
IGEB vs. FBNDX - Drawdown Comparison
The maximum IGEB drawdown since its inception was -21.13%, smaller than the maximum FBNDX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for IGEB and FBNDX.
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Drawdown Indicators
| IGEB | FBNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.13% | -42.76% | +21.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -3.02% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -5.97% | -6.09% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -21.13% | -18.74% | -2.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.74% | — |
Current DrawdownCurrent decline from peak | -1.03% | -1.62% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -10.34% | +5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.01% | -0.13% |
Volatility
IGEB vs. FBNDX - Volatility Comparison
iShares Investment Grade Bond Factor ETF (IGEB) and Fidelity Investment Grade Bond Fund (FBNDX) have volatilities of 1.33% 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.
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Volatility by Period
| IGEB | FBNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.39% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 2.92% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 4.12% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 6.03% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.52% | 5.02% | +1.50% |
IGEB vs. FBNDX - Expense Ratio Comparison
IGEB has a 0.18% expense ratio, which is lower than FBNDX's 0.45% expense ratio.
Dividends
IGEB vs. FBNDX - Dividend Comparison
IGEB's dividend yield for the trailing twelve months is around 5.06%, 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% |
IGEB iShares Investment Grade Bond Factor ETF | 5.06% | 4.92% | 5.09% | 4.60% | 3.64% | 3.84% | 3.78% | 5.61% | 3.59% | 1.62% | 0.00% | 0.00% |
Frequently Asked Questions
IGEB and FBNDX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBNDX has higher volatility (1.39%) compared to IGEB (1.33%). In terms of maximum drawdown, IGEB dropped -21.13% vs FBNDX's -42.76%.
IGEB currently has the higher Sharpe Ratio (1.44 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.
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