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, trading under the ticker FBND, is a broad US bond fund issued by Fidelity Investments. With assets under management totaling $26.6 billion, the fund has achieved significant scale within its category, which ETFValuer tracks as containing 7 ETFs. The fund currently holds an overall rank of #319 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 55.2 out of 100. Investors can access the fund at a price of $44.97 per share while paying an expense ratio of 0.36%. The fund offers a dividend yield of 4.69%, providing income relative to its current price level. This combination of substantial assets and a mid-tier ranking suggests the fund is a widely held option among the limited selection in the US Bonds - Broad category.

Over the last trading day, the fund posted a gain of +0.09%, though it subsequently declined by -0.71% over the following week. Monthly performance showed a contraction of -1.36%, which extended into a -0.90% loss over the three-month period. The six-month return improved slightly to -0.32%, while the year-to-date figure settled at -0.17%. A shift to positive territory occurred over the one-year horizon, where the fund returned +3.38%. This positive momentum continued into the three-year timeframe, resulting in a cumulative return of +13.73%. The data indicates a pattern where short-term fluctuations were negative, but longer-term holding periods have yielded positive results.

The fund carries a volatility label of Very Low, supported by a beta of 0.98 which suggests price movements closely track the broader market. Despite this low volatility classification, the Sharpe ratio stands at -0.43, indicating that the risk-adjusted returns have been negative over the measured period. The maximum drawdown recorded for the fund is -5.61%, representing the largest peak-to-trough decline observed. This combination of a low beta and negative Sharpe ratio implies that while the fund does not exhibit extreme price swings, it has failed to generate sufficient returns to compensate for the risk taken. The modest maximum drawdown aligns with the Very Low volatility label, suggesting limited downside severity even during periods of negative performance.

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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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 2026-06-01) — 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 — and average daily volume is 2.7M/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 $26.6B 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