FBND — Fidelity Total Bond ETF

FBND Price Performance — Growth of $10,000

Value of a $10,000 investment in FBND over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

FBND Drawdown

The "underwater" chart: FBND's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Fidelity Total Bond ETF (FBND) is a broad US bond fund issued by Fidelity Investments with $28.2 billion in assets under management. It holds a C grade and ranks 6th out of 7 peers in its category, placing it 334th among all tracked ETFs. The fund’s 0.36% expense ratio is significantly higher than the category median of 0.03%, while its 4.73% dividend yield exceeds the median of 4.20%. Top holdings constitute 19.8% of assets, with the largest position being Fidelity Revere Street Trust at 4.6%.

FBND has a three-year price history, with its C grade remaining unchanged over the last 35 tracked days. Short-term returns show modest declines, with the fund down 0.09% over one day and 0.37% over one month. In contrast, the longer-term picture is positive, as the fund has gained 15.24% over three years and 0.99% over the past year. This one-year return slightly outperforms the category median of 0.74%. The current price of $44.67 sits at the very bottom of its 52-week range, representing only 3.4% of the span between $44.59 and $46.86.

The fund exhibits a beta of 0.99, indicating it moves almost in lockstep with the broader market. Annualized volatility is labeled as Very Low at 3.71%, and the maximum drawdown recorded is -4.47%. Despite these stable metrics, the Sharpe ratio stands at -1.08, reflecting poor risk-adjusted returns relative to the risk-free rate. Liquidity is robust, with an average daily volume of 3,050,856 shares and a bid-ask spread of 0.49%.

AI-generated summary based on the data on this page.

FBND Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 19.8% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how FBND's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With FBND

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FBND's top 10 — ONEQ overlaps most, holding 1 of the same companies as FBND's top 10 (4.6% of FBND's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.78% (as of 2026-09-04) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 15.30 (as of 2026-09-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FBND Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.49% and average daily volume is 3.1M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $28.2B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FBND is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

FBND Performance History

How FBND Compares to Other US Bonds - Broad ETFs