KORP vs. FTBD
KORP (American Century Diversified Corporate Bond ETF) and FTBD (Fidelity Tactical Bond ETF) are both exchange-traded funds - KORP is a Corporate Bonds fund actively managed by American Century, while FTBD is a Nontraditional Bonds fund actively managed by Fidelity. Both are actively managed. Over the past 3 years, KORP returned 5.79%/yr vs 5.08%/yr for FTBD. Their correlation of 0.91 suggests significant overlap in exposure. KORP charges 0.29%/yr vs 0.55%/yr for FTBD.
Performance
KORP vs. FTBD - Performance Comparison
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Returns By Period
In the year-to-date period, KORP achieves a 0.69% return, which is significantly lower than FTBD's 0.99% return.
KORP
- 1D
- -0.23%
- 1M
- 0.60%
- YTD
- 0.69%
- 6M
- 0.54%
- 1Y
- 6.42%
- 3Y*
- 5.79%
- 5Y*
- 1.76%
- 10Y*
- —
FTBD
- 1D
- -0.17%
- 1M
- 0.44%
- YTD
- 0.99%
- 6M
- 0.67%
- 1Y
- 6.48%
- 3Y*
- 5.08%
- 5Y*
- —
- 10Y*
- —
KORP vs. FTBD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
KORP American Century Diversified Corporate Bond ETF | 0.69% | 8.14% | 3.82% | 4.58% |
FTBD Fidelity Tactical Bond ETF | 0.99% | 8.35% | 1.77% | 3.73% |
Correlation
The correlation between KORP and FTBD is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2023 | 0.91 |
The correlation between KORP and FTBD has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
KORP vs. FTBD — Risk / Return Rank
KORP
FTBD
KORP vs. FTBD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Corporate Bond ETF (KORP) and Fidelity Tactical Bond ETF (FTBD). 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.
| KORP | FTBD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.18 | -0.19 |
| Martin ratioReturn relative to average drawdown | 6.64 | 7.50 | -0.86 |
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
| KORP | FTBD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 1.51 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.75 | -0.18 |
Drawdowns
KORP vs. FTBD - Drawdown Comparison
The maximum KORP drawdown since its inception was -14.90%, which is greater than FTBD's maximum drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for KORP and FTBD.
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Drawdown Indicators
| KORP | FTBD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.90% | -6.98% | -7.92% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -2.98% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.04% | -6.56% | +1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -14.90% | — | — |
Current DrawdownCurrent decline from peak | -1.07% | -1.15% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -1.57% | -1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.87% | +0.10% |
Volatility
KORP vs. FTBD - Volatility Comparison
American Century Diversified Corporate Bond ETF (KORP) and Fidelity Tactical Bond ETF (FTBD) have volatilities of 1.44% and 1.47%, 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
| KORP | FTBD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.47% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 3.17% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.36% | 4.32% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 5.87% | -0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 5.87% | -0.95% |
KORP vs. FTBD - Expense Ratio Comparison
KORP has a 0.29% expense ratio, which is lower than FTBD's 0.55% expense ratio.
Dividends
KORP vs. FTBD - Dividend Comparison
KORP's dividend yield for the trailing twelve months is around 4.69%, less than FTBD's 5.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FTBD Fidelity Tactical Bond ETF | 5.03% | 5.04% | 4.76% | 4.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KORP American Century Diversified Corporate Bond ETF | 4.69% | 4.98% | 5.08% | 4.42% | 2.89% | 1.86% | 3.22% | 3.20% | 2.97% |
Frequently Asked Questions
KORP and FTBD have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTBD has higher volatility (1.47%) compared to KORP (1.44%). In terms of maximum drawdown, KORP dropped -14.90% vs FTBD's -6.98%.
On 3-year performance, KORP leads with 5.79% vs 5.08% for FTBD. On fees, KORP is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, KORP has performed better with a 5.79% return vs 5.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KORP is cheaper with a 0.29% expense ratio, compared with 0.55% for FTBD.
FTBD has the higher dividend yield at 5.03%, compared with 4.69% for KORP.
KORP is categorized as Corporate Bonds, while FTBD is Nontraditional Bonds. They also come from different issuers: American Century and Fidelity. Their fees differ too: 0.29% for KORP and 0.55% for FTBD.
FTBD currently has the higher Sharpe Ratio (1.51 vs 1.48), 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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