ILCV vs. FBND
ILCV (iShares Morningstar Value ETF) and FBND (Fidelity Total Bond ETF) are both exchange-traded funds - ILCV is a Large Cap Value Equities fund tracking the Morningstar US Large-Mid Cap Broad Value Index, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. ILCV is passively managed, while FBND is actively managed. Over the past 10 years, ILCV returned 11.48%/yr vs 2.32%/yr for FBND. At a 0.06 correlation, their price movements are largely independent. ILCV charges 0.04%/yr vs 0.36%/yr for FBND.
Performance
ILCV vs. FBND - Performance Comparison
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Returns By Period
In the year-to-date period, ILCV achieves a 10.57% return, which is significantly higher than FBND's 0.27% return. Over the past 10 years, ILCV has outperformed FBND with an annualized return of 11.48%, while FBND has yielded a comparatively lower 2.32% annualized return.
ILCV
- 1D
- -0.36%
- 1M
- 2.42%
- 6M
- 8.38%
- YTD
- 10.57%
- 1Y
- 25.05%
- 3Y*
- 17.20%
- 5Y*
- 12.21%
- 10Y*
- 11.48%
- ALL TIME*
- 8.66%
FBND
- 1D
- -0.26%
- 1M
- -0.60%
- 6M
- 0.12%
- YTD
- 0.27%
- 1Y
- 4.12%
- 3Y*
- 4.46%
- 5Y*
- 0.52%
- 10Y*
- 2.32%
- ALL TIME*
- 2.53%
ILCV vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILCV iShares Morningstar Value ETF | 10.57% | 18.79% | 17.03% | 14.43% | -7.02% | 26.71% | -0.84% | 25.19% | -6.24% | 15.00% |
FBND Fidelity Total Bond ETF | 0.27% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
Correlation
The correlation between ILCV and FBND is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.06 |
Over the past year, ILCV and FBND have become more correlated (0.33) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
ILCV vs. FBND — Risk / Return Rank
ILCV
FBND
ILCV vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Value ETF (ILCV) and Fidelity Total Bond ETF (FBND). 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.
| ILCV | FBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.19 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.84 | 1.55 | +2.29 |
| Martin ratioReturn relative to average drawdown | 15.71 | 4.22 | +11.49 |
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Drawdowns
ILCV vs. FBND - Drawdown Comparison
The maximum ILCV drawdown since its inception was -58.63%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for ILCV and FBND.
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Drawdown Indicators
| ILCV | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -17.25% | -41.38% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -2.66% | -3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -14.95% | -5.61% | -9.34% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | -17.25% | -1.33% |
Max Drawdown (10Y)Largest decline over 10 years | -35.53% | -17.25% | -18.28% |
Current DrawdownCurrent decline from peak | -1.01% | -1.65% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -9.27% | -3.33% | -5.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 0.98% | +0.62% |
Volatility
ILCV vs. FBND - Volatility Comparison
iShares Morningstar Value ETF (ILCV) has a higher volatility of 2.36% compared to Fidelity Total Bond ETF (FBND) at 1.07%. This indicates that ILCV's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ILCV | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 1.07% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 7.34% | 2.92% | +4.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.00% | 3.80% | +6.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.15% | 5.93% | +8.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.63% | 6.10% | +10.53% |
ILCV vs. FBND - Expense Ratio Comparison
ILCV has a 0.04% expense ratio, which is lower than FBND's 0.36% expense ratio.
Dividends
ILCV vs. FBND - Dividend Comparison
ILCV's dividend yield for the trailing twelve months is around 1.58%, less than FBND's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.72% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
ILCV iShares Morningstar Value ETF | 1.58% | 1.77% | 1.99% | 2.27% | 2.32% | 2.01% | 2.96% | 2.70% | 2.93% | 2.32% | 2.76% | 3.01% |
Frequently Asked Questions
ILCV and FBND have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ILCV has higher volatility (2.36%) compared to FBND (1.07%). In terms of maximum drawdown, ILCV dropped -58.63% vs FBND's -17.25%.
On 10-year performance, ILCV leads with 11.48% vs 2.32% for FBND. On fees, ILCV is cheaper at 0.04% per year. On volatility, FBND has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ILCV has performed better with a 11.48% return vs 2.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILCV is cheaper with a 0.04% expense ratio, compared with 0.36% for FBND.
FBND has the higher dividend yield at 4.72%, compared with 1.58% for ILCV.
ILCV is categorized as Large Cap Value Equities, while FBND is Intermediate Core-Plus Bond. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.04% for ILCV and 0.36% for FBND.
ILCV currently has the higher Sharpe Ratio (2.52 vs 1.09), 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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