TOBAX vs. FBNDX
Compare and contrast key facts about Touchstone Active Bond Fund (TOBAX) and Fidelity Investment Grade Bond Fund (FBNDX).
TOBAX is managed by Touchstone. It was launched on Oct 3, 1994. FBNDX is managed by Fidelity. It was launched on Aug 6, 1971.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TOBAX or FBNDX.
Key characteristics
| TOBAX | FBNDX | |
|---|---|---|
| YTD Return | 5.85% | 5.27% |
| 1Y Return | 11.61% | 10.90% |
| 3Y Return (Ann) | -1.49% | -1.30% |
| 5Y Return (Ann) | 1.10% | 1.23% |
| 10Y Return (Ann) | 2.08% | 2.37% |
| Sharpe Ratio | 1.81 | 1.92 |
| Daily Std Dev | 6.27% | 6.38% |
| Max Drawdown | -19.73% | -18.20% |
| Current Drawdown | -4.79% | -4.45% |
Correlation
The correlation between TOBAX and FBNDX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TOBAX vs. FBNDX - Performance Comparison
In the year-to-date period, TOBAX achieves a 5.85% return, which is significantly higher than FBNDX's 5.27% return. Over the past 10 years, TOBAX has underperformed FBNDX with an annualized return of 2.08%, while FBNDX has yielded a comparatively higher 2.37% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TOBAX vs. FBNDX - Expense Ratio Comparison
TOBAX has a 0.83% expense ratio, which is higher than FBNDX's 0.45% expense ratio.
Risk-Adjusted Performance
TOBAX vs. FBNDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Active Bond Fund (TOBAX) 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.
Dividends
TOBAX vs. FBNDX - Dividend Comparison
TOBAX's dividend yield for the trailing twelve months is around 3.63%, less than FBNDX's 3.75% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TOBAX Touchstone Active Bond Fund | 3.63% | 3.63% | 3.11% | 2.24% | 2.58% | 2.59% | 2.79% | 2.29% | 2.65% | 2.99% | 2.93% | 3.53% |
FBNDX Fidelity Investment Grade Bond Fund | 3.75% | 3.56% | 2.66% | 1.59% | 4.80% | 2.75% | 2.85% | 2.17% | 2.50% | 2.90% | 2.59% | 2.36% |
Drawdowns
TOBAX vs. FBNDX - Drawdown Comparison
The maximum TOBAX drawdown since its inception was -19.73%, which is greater than FBNDX's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for TOBAX and FBNDX. For additional features, visit the drawdowns tool.
Volatility
TOBAX vs. FBNDX - Volatility Comparison
The current volatility for Touchstone Active Bond Fund (TOBAX) is 1.07%, while Fidelity Investment Grade Bond Fund (FBNDX) has a volatility of 1.35%. This indicates that TOBAX 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.