USTB vs. FBND
USTB (VictoryShares Short-Term Bond ETF) and FBND (Fidelity Total Bond ETF) are both exchange-traded funds - USTB is a Short-Term Bond fund tracking the Bloomberg 1–3 Year Credit Index, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. USTB is passively managed, while FBND is actively managed. Over the past 5 years, USTB returned 3.52%/yr vs 0.94%/yr for FBND. A 0.65 correlation means they provide meaningful diversification when combined. USTB charges 0.34%/yr vs 0.36%/yr for FBND.
Performance
USTB vs. FBND - Performance Comparison
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Returns By Period
In the year-to-date period, USTB achieves a 1.23% return, which is significantly higher than FBND's 0.70% return.
USTB
- 1D
- 0.04%
- 1M
- 0.28%
- YTD
- 1.23%
- 6M
- 1.66%
- 1Y
- 4.79%
- 3Y*
- 6.14%
- 5Y*
- 3.52%
- 10Y*
- —
FBND
- 1D
- 0.09%
- 1M
- 0.23%
- YTD
- 0.70%
- 6M
- 0.67%
- 1Y
- 5.75%
- 3Y*
- 4.77%
- 5Y*
- 0.94%
- 10Y*
- 2.58%
USTB vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USTB VictoryShares Short-Term Bond ETF | 1.23% | 6.08% | 6.49% | 6.69% | -2.82% | 0.90% | 5.12% | 5.10% | 1.08% | 0.35% |
FBND Fidelity Total Bond ETF | 0.70% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 0.90% |
Correlation
The correlation between USTB and FBND is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.65 |
The correlation between USTB and FBND shifts across timeframes, from 0.65 (all time) to 0.80 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
USTB vs. FBND — Risk / Return Rank
USTB
FBND
USTB vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares Short-Term Bond ETF (USTB) 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.
| USTB | FBND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.96 | 1.50 | +2.46 |
Sortino ratioReturn per unit of downside risk | 6.76 | 2.23 | +4.53 |
Omega ratioGain probability vs. loss probability | 1.89 | 1.26 | +0.63 |
Calmar ratioReturn relative to maximum drawdown | 5.28 | 2.06 | +3.22 |
Martin ratioReturn relative to average drawdown | 24.05 | 6.28 | +17.77 |
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
| USTB | FBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.96 | 1.50 | +2.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.76 | 0.16 | +1.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.73 | 0.45 | +1.29 |
Drawdowns
USTB vs. FBND - Drawdown Comparison
The maximum USTB drawdown since its inception was -5.32%, smaller than the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for USTB and FBND.
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Drawdown Indicators
| USTB | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.32% | -17.25% | +11.93% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -2.66% | +1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -1.02% | -5.94% | +4.92% |
Max Drawdown (5Y)Largest decline over 5 years | -4.96% | -17.25% | +12.29% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.25% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.23% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -0.66% | -3.35% | +2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.88% | -0.69% |
Volatility
USTB vs. FBND - Volatility Comparison
The current volatility for VictoryShares Short-Term Bond ETF (USTB) is 0.34%, while Fidelity Total Bond ETF (FBND) has a volatility of 1.28%. This indicates that USTB experiences smaller price fluctuations and is considered to be less risky than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USTB | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 1.28% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 0.84% | 2.76% | -1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.26% | 3.86% | -2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.01% | 5.92% | -3.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.01% | 6.10% | -4.09% |
USTB vs. FBND - Expense Ratio Comparison
USTB has a 0.34% expense ratio, which is lower than FBND's 0.36% expense ratio.
Dividends
USTB vs. FBND - Dividend Comparison
USTB's dividend yield for the trailing twelve months is around 4.58%, less than FBND's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.69% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
USTB VictoryShares Short-Term Bond ETF | 4.58% | 4.62% | 5.05% | 4.49% | 2.54% | 1.84% | 2.59% | 2.69% | 2.32% | 0.43% | 0.00% | 0.00% |
Frequently Asked Questions
USTB and FBND have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBND has higher volatility (1.28%) compared to USTB (0.34%). In terms of maximum drawdown, USTB dropped -5.32% vs FBND's -17.25%.
On 5-year performance, USTB leads with 3.52% vs 0.94% for FBND. On fees, USTB is cheaper at 0.34% per year. On volatility, USTB has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USTB has performed better with a 3.52% return vs 0.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USTB is cheaper with a 0.34% expense ratio, compared with 0.36% for FBND.
FBND has the higher dividend yield at 4.69%, compared with 4.58% for USTB.
USTB is categorized as Short-Term Bond, while FBND is Intermediate Core-Plus Bond. They also come from different issuers: Victory and Fidelity. Their fees differ too: 0.34% for USTB and 0.36% for FBND.
USTB currently has the higher Sharpe Ratio (3.96 vs 1.50), 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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