WCPNX vs. FBND

Last updated Jun 4, 2026

WCPNX (Weitz Core Plus Income Fund) and FBND (Fidelity Total Bond ETF) are both Intermediate Core-Plus Bond funds. Over the past 10 years, WCPNX returned 3.24%/yr vs 2.56%/yr for FBND. Their correlation of 0.80 suggests significant overlap in exposure. WCPNX charges 0.89%/yr vs 0.36%/yr for FBND.

Performance

WCPNX vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Weitz Core Plus Income Fund (WCPNX) 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, WCPNX achieves a 0.80% return, which is significantly higher than FBND's 0.50% return. Over the past 10 years, WCPNX has outperformed FBND with an annualized return of 3.24%, while FBND has yielded a comparatively lower 2.56% annualized return.

WCPNX

• 1D: 0.00%
• 1M: 0.63%
• YTD: 0.80%
• 6M: 0.90%
• 1Y: 6.08%
• 3Y*: 5.46%
• 5Y*: 2.01%
• 10Y*: 3.24%

FBND

• 1D: -0.20%
• 1M: 0.31%
• YTD: 0.50%
• 6M: 0.30%
• 1Y: 5.59%
• 3Y*: 4.70%
• 5Y*: 0.83%
• 10Y*: 2.56%

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

WCPNX vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WCPNX Weitz Core Plus Income Fund	0.80%	7.89%	4.10%	7.00%	-9.92%	1.60%	10.18%	7.39%	1.49%	2.83%
FBND Fidelity Total Bond ETF	0.50%	7.57%	2.13%	6.81%	-12.54%	-0.43%	9.41%	9.82%	-0.57%	3.52%

Correlation

The correlation between WCPNX and FBND is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Oct 10, 2014	0.80

The correlation between WCPNX and FBND shifts across timeframes, from 0.80 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

WCPNX vs. FBND — Risk / Return Rank

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

WCPNX

WCPNX Risk / Return Rank: 31
WCPNX Sharpe Ratio Rank: 31
WCPNX Sortino Ratio Rank: 32
WCPNX Omega Ratio Rank: 31
WCPNX Calmar Ratio Rank: 34
WCPNX Martin Ratio Rank: 29

FBND

FBND Risk / Return Rank: 40
FBND Sharpe Ratio Rank: 40
FBND Sortino Ratio Rank: 42
FBND Omega Ratio Rank: 37
FBND Calmar Ratio Rank: 42
FBND Martin Ratio Rank: 39

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.

WCPNX vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Weitz Core Plus Income Fund (WCPNX) 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.

	WCPNX	FBND	Difference
Sharpe ratio Return per unit of total volatility	1.59	1.46	+0.13
Sortino ratio Return per unit of downside risk	2.36	2.17	+0.20
Omega ratio Gain probability vs. loss probability	1.29	1.25	+0.04
Calmar ratio Return relative to maximum drawdown	2.19	2.11	+0.08
Martin ratio Return relative to average drawdown	6.86	6.37	+0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCPNX vs. FBND - Sharpe Ratio Comparison

The current WCPNX Sharpe Ratio is 1.59, which is comparable to the FBND Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of WCPNX 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

	WCPNX	FBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.46	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.14	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.42	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.44	+0.41

Drawdowns

WCPNX vs. FBND - Drawdown Comparison

The maximum WCPNX drawdown since its inception was -13.63%, smaller than the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for WCPNX and FBND.

Drawdown Indicators

	WCPNX	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-13.63%	-17.25%	+3.62%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-2.66%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-5.17%	-5.94%	+0.77%
Max Drawdown (5Y) Largest decline over 5 years	-13.63%	-17.25%	+3.62%
Max Drawdown (10Y) Largest decline over 10 years	-13.63%	-17.25%	+3.62%
Current Drawdown Current decline from peak	-0.89%	-1.43%	+0.54%
Average Drawdown Average peak-to-trough decline	-2.18%	-3.35%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.88%	-0.01%

Volatility

WCPNX vs. FBND - Volatility Comparison

Weitz Core Plus Income Fund (WCPNX) and Fidelity Total Bond ETF (FBND) have volatilities of 1.33% and 1.27%, 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.

Volatility by Period

	WCPNX	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.27%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	2.73%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.78%	3.86%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.00%	5.92%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.17%	6.10%	-1.93%

WCPNX vs. FBND - Expense Ratio Comparison

WCPNX has a 0.89% expense ratio, which is higher than FBND's 0.36% expense ratio.

Dividends

WCPNX vs. FBND - Dividend Comparison

WCPNX's dividend yield for the trailing twelve months is around 4.89%, 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%
WCPNX Weitz Core Plus Income Fund	4.89%	5.26%	6.15%	4.92%	3.04%	2.51%	5.07%	2.95%	2.55%	2.41%	3.72%	1.96%

Frequently Asked Questions

Can I hold both WCPNX and FBND in my portfolio?

WCPNX and FBND have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCPNX or FBND?

WCPNX has higher volatility (1.33%) compared to FBND (1.27%). In terms of maximum drawdown, WCPNX dropped -13.63% vs FBND's -17.25%.

Which has better risk-adjusted returns?

WCPNX currently has the higher Sharpe Ratio (1.59 vs 1.46), 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.