MCI vs. FBND

Last updated Jun 5, 2026

MCI (Barings Corporate Investors) is a stock, while FBND (Fidelity Total Bond ETF) is Intermediate Core-Plus Bond fund actively managed by Fidelity. Over the past 10 years, MCI returned 7.88%/yr vs 2.57%/yr for FBND. At a 0.06 correlation, their price movements are largely independent.

Performance

MCI vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Barings Corporate Investors (MCI) and Fidelity Total Bond ETF (FBND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCI achieves a -2.30% return, which is significantly lower than FBND's 0.61% return. Over the past 10 years, MCI has outperformed FBND with an annualized return of 7.88%, while FBND has yielded a comparatively lower 2.57% annualized return.

MCI

• 1D: -0.40%
• 1M: 1.68%
• YTD: -2.30%
• 6M: -12.89%
• 1Y: -3.86%
• 3Y*: 16.87%
• 5Y*: 11.31%
• 10Y*: 7.88%

FBND

• 1D: 0.11%
• 1M: 0.25%
• YTD: 0.61%
• 6M: 0.60%
• 1Y: 5.08%
• 3Y*: 4.80%
• 5Y*: 0.86%
• 10Y*: 2.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MCI vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCI Barings Corporate Investors	-2.30%	-3.74%	20.83%	44.49%	-5.91%	29.03%	-15.77%	23.40%	4.35%	6.48%
FBND Fidelity Total Bond ETF	0.61%	7.57%	2.13%	6.81%	-12.54%	-0.43%	9.41%	9.82%	-0.57%	3.52%

Correlation

The correlation between MCI and FBND is 0.10, 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	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Oct 10, 2014	0.06

Return for Risk

MCI vs. FBND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MCI

MCI Risk / Return Rank: 33
MCI Sharpe Ratio Rank: 35
MCI Sortino Ratio Rank: 28
MCI Omega Ratio Rank: 28
MCI Calmar Ratio Rank: 36
MCI Martin Ratio Rank: 35

FBND

FBND Risk / Return Rank: 38
FBND Sharpe Ratio Rank: 39
FBND Sortino Ratio Rank: 39
FBND Omega Ratio Rank: 36
FBND Calmar Ratio Rank: 39
FBND Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MCI vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Barings Corporate Investors (MCI) 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.

	MCI	FBND	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	1.34	-1.51
Sortino ratio: Return per unit of downside risk	-0.09	1.97	-2.06
Omega ratio: Gain probability vs. loss probability	0.99	1.23	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.16	1.91	-2.08
Martin ratio: Return relative to average drawdown	-0.34	5.77	-6.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCI vs. FBND - Sharpe Ratio Comparison

The current MCI Sharpe Ratio is -0.17, which is lower than the FBND Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of MCI and FBND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MCI	FBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	1.34	-1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.15	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.42	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.45	+0.07

Drawdowns

MCI vs. FBND - Drawdown Comparison

The maximum MCI drawdown since its inception was -57.08%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for MCI and FBND.

Drawdown Indicators

	MCI	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-57.08%	-17.25%	-39.83%
Max Drawdown (1Y) Largest decline over 1 year	-23.76%	-2.66%	-21.10%
Max Drawdown (3Y) Largest decline over 3 years	-27.58%	-5.94%	-21.64%
Max Drawdown (5Y) Largest decline over 5 years	-27.58%	-17.25%	-10.33%
Max Drawdown (10Y) Largest decline over 10 years	-44.64%	-17.25%	-27.39%
Current Drawdown Current decline from peak	-23.33%	-1.32%	-22.01%
Average Drawdown Average peak-to-trough decline	-9.63%	-3.35%	-6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.40%	0.88%	+10.52%

Volatility

MCI vs. FBND - Volatility Comparison

Barings Corporate Investors (MCI) has a higher volatility of 5.81% compared to Fidelity Total Bond ETF (FBND) at 1.26%. This indicates that MCI'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.

Volatility by Period

	MCI	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	1.26%	+4.55%
Volatility (6M) Calculated over the trailing 6-month period	14.91%	2.73%	+12.18%
Volatility (1Y) Calculated over the trailing 1-year period	22.60%	3.86%	+18.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.80%	5.92%	+15.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.65%	6.09%	+18.56%

Dividends

MCI vs. FBND - Dividend Comparison

MCI's dividend yield for the trailing twelve months is around 9.23%, more than FBND's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBND Fidelity Total Bond ETF	4.70%	4.70%	4.73%	4.26%	3.07%	1.86%	4.25%	2.90%	2.93%	2.56%	2.84%	3.26%
MCI Barings Corporate Investors	9.23%	8.82%	8.29%	7.70%	7.31%	6.01%	7.28%	7.12%	8.16%	7.86%	7.75%	6.96%

Frequently Asked Questions

Can I hold both MCI and FBND in my portfolio?

MCI and FBND have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCI or FBND?

MCI has higher volatility (5.81%) compared to FBND (1.26%). In terms of maximum drawdown, MCI dropped -57.08% vs FBND's -17.25%.

Which has better risk-adjusted returns?

FBND currently has the higher Sharpe Ratio (1.34 vs -0.17), 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.