LTEBX vs. FBNDX
Compare and contrast key facts about American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) and Fidelity Investment Grade Bond Fund (FBNDX).
LTEBX is managed by American Funds. It was launched on Oct 5, 1993. FBNDX is managed by Fidelity. It was launched on Aug 6, 1971.
Performance
LTEBX vs. FBNDX - Performance Comparison
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LTEBX vs. FBNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTEBX American Funds Limited Term Tax-Exempt Bond Fund | -0.24% | 6.02% | 1.97% | 3.82% | -5.12% | -0.01% | 4.01% | 4.67% | 1.08% | 2.95% |
FBNDX Fidelity Investment Grade Bond Fund | -0.36% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 3.92% |
Returns By Period
In the year-to-date period, LTEBX achieves a -0.24% return, which is significantly higher than FBNDX's -0.36% return. Over the past 10 years, LTEBX has underperformed FBNDX with an annualized return of 1.73%, while FBNDX has yielded a comparatively higher 2.22% annualized return.
LTEBX
- 1D
- 0.19%
- 1M
- -1.83%
- YTD
- -0.24%
- 6M
- 0.63%
- 1Y
- 4.04%
- 3Y*
- 3.28%
- 5Y*
- 1.27%
- 10Y*
- 1.73%
FBNDX
- 1D
- 0.14%
- 1M
- -1.76%
- YTD
- -0.36%
- 6M
- 0.36%
- 1Y
- 3.63%
- 3Y*
- 3.61%
- 5Y*
- 0.18%
- 10Y*
- 2.22%
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LTEBX vs. FBNDX - Expense Ratio Comparison
LTEBX has a 0.57% expense ratio, which is higher than FBNDX's 0.45% expense ratio.
Return for Risk
LTEBX vs. FBNDX — Risk / Return Rank
LTEBX
FBNDX
LTEBX vs. FBNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) 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.
| LTEBX | FBNDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.50 | 0.86 | +0.65 |
Sortino ratioReturn per unit of downside risk | 2.00 | 1.24 | +0.76 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.15 | +0.28 |
Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.58 | +0.13 |
Martin ratioReturn relative to average drawdown | 6.81 | 4.56 | +2.25 |
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
| LTEBX | FBNDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 0.86 | +0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.03 | +0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.45 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.47 | 0.53 | +0.94 |
Correlation
The correlation between LTEBX and FBNDX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
LTEBX vs. FBNDX - Dividend Comparison
LTEBX's dividend yield for the trailing twelve months is around 2.59%, less than FBNDX's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTEBX American Funds Limited Term Tax-Exempt Bond Fund | 2.59% | 3.39% | 2.34% | 1.74% | 0.87% | 1.24% | 1.92% | 2.19% | 2.04% | 2.21% | 1.92% | 2.34% |
FBNDX Fidelity Investment Grade Bond Fund | 3.58% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
Drawdowns
LTEBX vs. FBNDX - Drawdown Comparison
The maximum LTEBX drawdown since its inception was -8.33%, smaller than the maximum FBNDX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for LTEBX and FBNDX.
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Drawdown Indicators
| LTEBX | FBNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.33% | -42.76% | +34.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -2.88% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -8.33% | -18.74% | +10.41% |
Max Drawdown (10Y)Largest decline over 10 years | -8.33% | -18.74% | +10.41% |
Current DrawdownCurrent decline from peak | -2.08% | -2.31% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -1.05% | -10.37% | +9.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.00% | -0.27% |
Volatility
LTEBX vs. FBNDX - Volatility Comparison
The current volatility for American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) is 0.82%, while Fidelity Investment Grade Bond Fund (FBNDX) has a volatility of 1.62%. This indicates that LTEBX experiences smaller price fluctuations and is considered to be less risky than FBNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTEBX | FBNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 1.62% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 2.74% | -1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.94% | 4.62% | -1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.28% | 6.00% | -3.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.33% | 5.00% | -2.67% |