FBND — Fidelity Total Bond ETF
US Bonds - Broad Ranked #322 of 458 tracked ETFs · Issued by Fidelity Investments
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.
What If You'd Invested in FBND?
See what a lump sum in FBND would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The Fidelity Total Bond ETF (FBND) is a broad US bond fund issued by Fidelity Investments with $27.9 billion in assets. It holds an ETFValuer grade of C, ranking 6th out of 7 peers in its category and 322nd of 458 tracked ETFs overall. The fund’s 0.36% expense ratio is significantly higher than the category median of 0.03%. It offers a dividend yield of 4.80%, which exceeds the category median of 4.30%. Top holdings account for 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 current price of $44.05 sitting at 25.1% of its 52-week range. Short-term performance shows a one-month gain of 1.14%, contrasting with a one-year loss of 1.46% that trails the category median of -1.32%. The fund’s grade has remained unchanged at C over the last 35 tracked days. While the three-year return is +18.12%, recent horizons including the last day and week show mixed movements of -0.20% and +0.52% respectively.
The fund exhibits Very Low volatility at 4.08% annualized and a beta of 0.99, indicating market movement correlation. A Sharpe ratio of -1.58 suggests poor risk-adjusted returns relative to the risk-free rate. Maximum drawdown has been limited to -4.72%, reflecting contained downside during recent periods. Liquidity is supported by an average daily volume of 4,029,103 shares, facilitating trade execution.
AI-generated summary based on the data on this page.
FBND Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | Fidelity Revere Street Trust | 4.62% | $1.20B |
| 2 | UST NOTES | 2.34% | $609M |
| 3 | UST NOTES | 2.21% | $576M |
| 4 | UST NOTES | 2.17% | $566M |
| 5 | UST NOTES | 1.81% | $471M |
| 6 | UNITED STATES TREASURY BOND | 1.53% | $400M |
| 7 | UST NOTES | 1.49% | $388M |
| 8 | UNITED STATES TREASURY BOND | 1.26% | $329M |
| 9 | UST NOTES | 1.20% | $312M |
| 10 | FNMA/FHLG TBA ISSUER | 1.19% | $310M |
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).
| ETF | Name | Shared Companies | FBND Weight | Examples |
|---|---|---|---|---|
| ONEQ | Fidelity Nasdaq Composite Index ETF | 1 | 4.6% | Fidelity Revere Street Trust |
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: 4.96% (as of 2026-10-22) — 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): 19.03 (as of 2026-10-22) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What FBND's Fees Cost You
FBND charges an expense ratio of 0.36% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
FBND Dividend Income Estimator
FBND currently yields 4.80%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
FBND Liquidity, Domicile & Tax Treatment
Liquidity: Average daily volume is 4.0M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $27.9B 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
| Period | Return |
|---|---|
| 1-Day | -0.20% |
| 1-Week | +0.52% |
| 1-Month | +1.14% |
| 3-Month | -1.14% |
| 6-Month | -1.95% |
| YTD | -1.08% |
| 1-Year | -1.46% |
| 3-Year | +18.12% |
How FBND Compares to Other US Bonds - Broad ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #239 | C |
AGG | iShares Core U.S. Aggregate Bond ETF | -1.32% | 0.03% | $136B |
| #241 | C |
BND | Vanguard Total Bond Market Index Fund ETF Shares | -1.27% | 0.03% | $389B |
| #250 | C |
IUSB | iShares Core Universal USD Bond ETF | -1.03% | 0.06% | $48.1B |
| #305 | C |
SCHZ | Schwab U.S. Aggregate Bond ETF | -1.38% | 0.03% | $10.5B |
| #308 | C |
SPAB | State Street SPDR Portfolio Aggregate Bond ETF | -1.45% | 0.03% | $9.90B |
| #322 | C |
FBND | Fidelity Total Bond ETF | -1.46% | 0.36% | $27.9B |
| #344 | C |
BNDW | Vanguard Total World Bond ETF | -1.13% | 0.05% | $1.90B |