MWTIX vs. FTBFX
MWTIX (Metropolitan West Total Return Bond Fund Class I) and FTBFX (Fidelity Total Bond Fund) are both mutual funds - MWTIX is a Total Bond Market fund managed by Metropolitan West Funds, while FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Over the past 10 years, MWTIX returned 1.37%/yr vs 2.16%/yr for FTBFX. Their correlation of 0.90 means they have usually moved in the same direction. Both charge a 0.45% expense ratio.
Performance
MWTIX vs. FTBFX - Performance Comparison
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Returns By Period
In the year-to-date period, MWTIX achieves a -0.71% return, which is significantly lower than FTBFX's -0.46% return. Over the past 10 years, MWTIX has underperformed FTBFX with an annualized return of 1.37%, while FTBFX has yielded a comparatively higher 2.16% annualized return.
MWTIX
- 1D
- 0.00%
- 1M
- -1.10%
- 6M
- -0.98%
- YTD
- -0.71%
- 1Y
- 1.92%
- 3Y*
- 3.67%
- 5Y*
- -0.94%
- 10Y*
- 1.37%
- ALL TIME*
- 4.22%
FTBFX
- 1D
- 0.11%
- 1M
- -1.26%
- 6M
- -0.69%
- YTD
- -0.46%
- 1Y
- 2.07%
- 3Y*
- 4.27%
- 5Y*
- 0.12%
- 10Y*
- 2.16%
- ALL TIME*
- 3.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MWTIX vs. FTBFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MWTIX Metropolitan West Total Return Bond Fund Class I | -0.71% | 7.51% | 0.77% | 6.02% | -15.49% | -1.32% | 9.00% | 9.10% | 0.36% | 3.43% |
FTBFX Fidelity Total Bond Fund | -0.46% | 7.50% | 2.13% | 7.25% | -13.58% | -0.44% | 9.34% | 9.89% | -0.66% | 4.19% |
Correlation
The correlation between MWTIX and FTBFX is 0.95, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2002 | 0.90 |
The correlation between MWTIX and FTBFX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.
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Return for Risk
MWTIX vs. FTBFX — Risk / Return Rank
MWTIX
FTBFX
MWTIX vs. FTBFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Total Return Bond Fund Class I (MWTIX) and Fidelity Total Bond Fund (FTBFX). 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.
| MWTIX | FTBFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.15 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | 1.11 | -0.17 |
| Martin ratioReturn relative to average drawdown | 2.30 | 2.83 | -0.53 |
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Drawdowns
MWTIX vs. FTBFX - Drawdown Comparison
The maximum MWTIX drawdown since its inception was -20.58%, which is greater than FTBFX's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for MWTIX and FTBFX.
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Drawdown Indicators
| MWTIX | FTBFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.58% | -18.25% | -2.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -2.89% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -4.96% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -20.51% | -18.25% | -2.26% |
Max Drawdown (10Y)Largest decline over 10 years | -20.58% | -18.25% | -2.33% |
Current DrawdownCurrent decline from peak | -4.89% | -2.31% | -2.58% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -2.31% | -0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 1.13% | +0.23% |
Volatility
MWTIX vs. FTBFX - Volatility Comparison
Metropolitan West Total Return Bond Fund Class I (MWTIX) and Fidelity Total Bond Fund (FTBFX) have volatilities of 1.04% and 1.04%, 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
| MWTIX | FTBFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 1.04% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 3.00% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 3.76% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.66% | 5.68% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 4.74% | +0.60% |
MWTIX vs. FTBFX - Expense Ratio Comparison
Both MWTIX and FTBFX have an expense ratio of 0.45%.
Dividends
MWTIX vs. FTBFX - Dividend Comparison
MWTIX's dividend yield for the trailing twelve months is around 3.75%, less than FTBFX's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTBFX Fidelity Total Bond Fund | 4.03% | 4.36% | 4.15% | 4.15% | 2.54% | 1.89% | 5.22% | 3.03% | 3.19% | 2.97% | 3.61% | 3.30% |
MWTIX Metropolitan West Total Return Bond Fund Class I | 3.75% | 3.89% | 4.38% | 4.11% | 2.08% | 1.12% | 6.48% | 3.61% | 2.91% | 2.14% | 3.35% | 2.94% |
Frequently Asked Questions
With a correlation of 0.95, MWTIX and FTBFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FTBFX has higher volatility (1.04%) compared to MWTIX (1.04%). In terms of maximum drawdown, MWTIX dropped -20.58% vs FTBFX's -18.25%.
FTBFX currently has the higher Sharpe Ratio (0.86 vs 0.75), 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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