VBND vs. FBNDX

Last updated Jun 4, 2026

VBND (Vident U.S. Bond Strategy ETF) and FBNDX (Fidelity Investment Grade Bond Fund) are both funds - VBND is a Intermediate Core-Plus Bond fund tracking the Vident Core U.S. Bond Strategy Index, while FBNDX is a Total Bond Market fund managed by Fidelity. Over the past 10 years, VBND returned 1.58%/yr vs 2.12%/yr for FBNDX. Their correlation of 0.81 suggests significant overlap in exposure. VBND charges 0.41%/yr vs 0.45%/yr for FBNDX.

Performance

VBND vs. FBNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vident U.S. Bond Strategy ETF (VBND) and Fidelity Investment Grade Bond Fund (FBNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBND achieves a 0.39% return, which is significantly higher than FBNDX's 0.34% return. Over the past 10 years, VBND has underperformed FBNDX with an annualized return of 1.58%, while FBNDX has yielded a comparatively higher 2.12% annualized return.

VBND

• 1D: -0.16%
• 1M: 0.60%
• YTD: 0.39%
• 6M: 0.57%
• 1Y: 5.65%
• 3Y*: 4.74%
• 5Y*: 0.41%
• 10Y*: 1.58%

FBNDX

• 1D: 0.00%
• 1M: 0.47%
• YTD: 0.34%
• 6M: 0.16%
• 1Y: 5.13%
• 3Y*: 4.08%
• 5Y*: 0.20%
• 10Y*: 2.12%

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

VBND vs. FBNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBND Vident U.S. Bond Strategy ETF	0.39%	7.31%	1.26%	8.16%	-14.18%	-0.43%	5.37%	9.50%	-0.96%	3.15%
FBNDX Fidelity Investment Grade Bond Fund	0.34%	7.37%	0.93%	6.51%	-14.04%	-1.13%	9.79%	9.82%	-0.35%	3.92%

Correlation

The correlation between VBND and FBNDX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 17, 2014	0.81

The correlation between VBND and FBNDX shifts across timeframes, from 0.79 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VBND vs. FBNDX — Risk / Return Rank

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

VBND

VBND Risk / Return Rank: 37
VBND Sharpe Ratio Rank: 36
VBND Sortino Ratio Rank: 38
VBND Omega Ratio Rank: 34
VBND Calmar Ratio Rank: 41
VBND Martin Ratio Rank: 35

FBNDX

FBNDX Risk / Return Rank: 19
FBNDX Sharpe Ratio Rank: 19
FBNDX Sortino Ratio Rank: 20
FBNDX Omega Ratio Rank: 18
FBNDX Calmar Ratio Rank: 21
FBNDX Martin Ratio Rank: 19

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.

VBND vs. FBNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vident U.S. Bond Strategy ETF (VBND) 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.

	VBND	FBNDX	Difference
Sharpe ratio Return per unit of total volatility	1.30	1.25	+0.05
Sortino ratio Return per unit of downside risk	1.97	1.88	+0.10
Omega ratio Gain probability vs. loss probability	1.23	1.22	+0.01
Calmar ratio Return relative to maximum drawdown	2.01	1.70	+0.31
Martin ratio Return relative to average drawdown	5.41	5.10	+0.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBND vs. FBNDX - Sharpe Ratio Comparison

The current VBND Sharpe Ratio is 1.30, which is comparable to the FBNDX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of VBND and FBNDX, 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

	VBND	FBNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.25	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.03	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.42	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.53	-0.21

Drawdowns

VBND vs. FBNDX - Drawdown Comparison

The maximum VBND drawdown since its inception was -18.97%, smaller than the maximum FBNDX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for VBND and FBNDX.

Drawdown Indicators

	VBND	FBNDX	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-42.76%	+23.79%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-3.02%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-4.60%	-6.09%	+1.49%
Max Drawdown (5Y) Largest decline over 5 years	-18.97%	-18.74%	-0.23%
Max Drawdown (10Y) Largest decline over 10 years	-18.97%	-18.74%	-0.23%
Current Drawdown Current decline from peak	-0.87%	-1.62%	+0.75%
Average Drawdown Average peak-to-trough decline	-4.21%	-10.34%	+6.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	1.01%	+0.04%

Volatility

VBND vs. FBNDX - Volatility Comparison

Vident U.S. Bond Strategy ETF (VBND) has a higher volatility of 1.49% compared to Fidelity Investment Grade Bond Fund (FBNDX) at 1.39%. This indicates that VBND's price experiences larger fluctuations and is considered to be riskier than FBNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBND	FBNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	1.39%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	2.92%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	4.37%	4.12%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.12%	6.03%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.45%	5.02%	+0.43%

VBND vs. FBNDX - Expense Ratio Comparison

VBND has a 0.41% expense ratio, which is lower than FBNDX's 0.45% expense ratio.

Dividends

VBND vs. FBNDX - Dividend Comparison

VBND's dividend yield for the trailing twelve months is around 4.23%, more than FBNDX's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBNDX Fidelity Investment Grade Bond Fund	3.91%	3.87%	3.34%	3.56%	1.98%	1.34%	4.70%	2.75%	2.86%	2.18%	2.72%	2.66%
VBND Vident U.S. Bond Strategy ETF	4.23%	4.22%	4.41%	3.88%	2.55%	1.56%	1.98%	3.14%	2.82%	2.00%	3.12%	1.49%

Frequently Asked Questions

Can I hold both VBND and FBNDX in my portfolio?

VBND and FBNDX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBND or FBNDX?

VBND has higher volatility (1.49%) compared to FBNDX (1.39%). In terms of maximum drawdown, VBND dropped -18.97% vs FBNDX's -42.76%.

Which has better risk-adjusted returns?

VBND currently has the higher Sharpe Ratio (1.30 vs 1.25), 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.