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Data as of Oct 28, 2026.

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BND vs FBND: Differences, Returns & Fees

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BND's duration was 5.7 years on Jun 30, 2026 and FBND's 5.6 on Aug 31, 2026; BND charges 0.03% to FBND's 0.36%.

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Net assets on Sep 30, 2026: $161.4bn for Vanguard Total Bond Market ETF and $27.9bn for Fidelity Total Bond ETF.

BND on its own →FBND on its own →
At a glance
−1.3%
BND total return, 1 year
−1.5%
FBND total return, 1 year
0.03%
BND expense ratio
0.36%
FBND expense ratio

Pair scorecard

BND costs 0.33 points a year less; their one-year returns differ by 0.2 points; BND is 5.8 times larger.

BND vs FBND: Differences, Returns & Fees
MeasureBNDFBND
Return
Total return, 1 year−1.3%−1.5%
Drawdown
Below its high3.5%, high on Aug 6, 2020
Benchmark
What it tracksBloomberg U.S. Aggregate Float Adjusted IndexNo index, actively managed
Cost and size
Expense ratio0.03%0.36%
Net assets, as of Sep 30, 2026$161.4bn$27.9bn
Holdings
Holdings in common15%

Holdings in common uses holdings dated Jun 30, 2026 and Aug 31, 2026. Method

Risk and return

Oct 17, 2014 to Oct 23, 2026 · 627 weekly returns
BND FBND
Return
Total return edge FBND +21.4% +31.8%
Annualized edge FBND +1.6% +2.3%
Price return edge FBND (slight) −14.1% −12.7%
Risk
Volatility edge BND 4.9% 5.7%
Max drawdown edge FBND (slight) −18.4% −16.8%
Risk-adjusted
Sharpe edge FBND −0.08 0.06
Sortino edge FBND −0.11 0.08
Calmar edge FBND 0.09 0.14
Reading

FBND returned more: +31.8% to +21.4%. BND swung less: 4.9% to 5.7%. FBND fell slightly less at its worst: −16.8% to −18.4%.

Full scorecard

9 measures, with how each is measured Open ↓
Risk and return: BND vs FBND: Differences, Returns & Fees
MeasureBNDFBNDEdgeHow it is measured
Return
Total return+21.4%+31.8%FBNDPrice change plus distributions, reinvested.
Annualized+1.6%+2.3%FBNDTotal return as a yearly rate.
Price return−14.1%−12.7%FBND (slight)Price change alone, distributions left out.
Risk
Volatility4.9%5.7%BNDSpread of weekly returns, annualized. Lower is steadier.
Downside deviation3.6%4.1%BNDLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−18.4%−16.8%FBND (slight)Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe−0.080.06FBNDReturn above Treasury bills per unit of volatility.
Sortino−0.110.08FBNDReturn above Treasury bills per unit of downside deviation.
Calmar0.090.14FBNDAnnualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 627 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

15%

By the books each fund has filed, BND and FBND hold 15% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.

0 half 100%

half

15% in common

Positions both hold · largest shared weight first BND FBND
US TREASURY N/B, due May 15, 2034 0.41% 0.42%
US TREASURY N/B, due Nov 15, 2034 0.41% 0.92%
US TREASURY N/B, due Feb 15, 2035 0.41% 0.79%
US TREASURY N/B, due Feb 15, 2036 0.41% 2.04%
US TREASURY N/B, due Aug 15, 2034 0.41% 0.54%
US TREASURY N/B, due Aug 15, 2035 0.39% 1.97%
US TREASURY N/B, due Nov 15, 2033 0.39% 0.44%
US TREASURY N/B, due May 15, 2035 0.36% 1.04%
US TREASURY N/B, due Aug 15, 2033 0.36% 0.32%
US TREASURY N/B, due Feb 15, 2033 0.32% 0.54%
US TREASURY N/B, due May 15, 2033 0.32% 0.53%
US TREASURY N/B, due Nov 15, 2035 0.29% 0.87%
Only in one fund ↓
Only in BND
US TREASURY N/B, due Jan 31, 2028 0.47%
US TREASURY N/B, due Nov 30, 2027 0.41%
US TREASURY N/B, due Aug 15, 2031 0.34%
US TREASURY N/B, due Nov 15, 2031 0.34%
US TREASURY N/B, due May 15, 2031 0.32%
US TREASURY N/B, due Aug 15, 2032 0.32%
US TREASURY N/B, due Feb 15, 2032 0.32%
US TREASURY N/B, due Feb 15, 2031 0.31%
Only in FBND
UMBS 30YR 2% 09/01/2056 #TBA, due Sep 1, 2056 1.99%
GNII II 5.5% 09/01/2056 #TBA, due Sep 1, 2056 1.28%
UMBS 30YR 2% 10/01/2056 #TBA, due Oct 1, 2056 1.25%
GNII II 5.5% 10/01/2056 #TBA, due Oct 1, 2056 0.97%
UMBS 30YR 6.5% 09/01/2056 #TBA, due Sep 1, 2056 0.57%
UST NOTES 4.375% 07/31/2033, due Jul 31, 2033 0.49%
GNII II 5% 09/01/2056 #TBA, due Sep 1, 2056 0.46%
UMBS 30YR 6% 09/01/2056 #TBA, due Sep 1, 2056 0.31%
Check overlap with more funds →

Side by side

BND Vanguard Total Bond Market ETF FBND Fidelity Total Bond ETF
Where it sits Bond ETF Bond ETF
Issuer Vanguard Fidelity
What it is Tracks an index of US aggregate bonds Actively managed
Total return, 1 year −1.3% −1.5%
Its benchmark over the same days −1.4% (AGG) not measured
Gap to its benchmark +0.1 pts vs AGG not measured
Expense ratio 0.03% 0.36%
Holdings 16301 4696
Net assets, as of Sep 30, 2026 $161.4bn $27.9bn

BND and FBND on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-3A4F2FCA86

BND and FBND do different jobs. What does each one do in a portfolio?

  1. What each follows. BND follows Bloomberg U.S. Aggregate Float Adjusted Index and FBND follows No index, actively managed.
  2. Holdings in common. 15% of the weight is in the same securities (holdings dated Jun 30, 2026 and Aug 31, 2026).
  3. Number of holdings. BND holds 16,301 positions and FBND holds 4696.

Data as of Oct 28, 2026.

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About each fund
BND

BND tracks an index of US aggregate bonds. Over the year to Oct 28, 2026 it returned −1.3% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Float Adjusted Index, measured by the closely related Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.03% a year. It sat 3.5% below its high of Aug 6, 2020 on Oct 28, 2026.

FBND

FBND is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned −1.5% with distributions reinvested. The prospectus expense ratio is 0.36% a year.

Questions people ask

Which returned more over the last year, BND or FBND?
In the year to Oct 28, 2026, with distributions reinvested, BND returned −1.3% and FBND −1.5%.
Which is cheaper, BND or FBND?
BND is cheaper, by 0.33 percentage points a year. That is about $33 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
BND vs BONDBND vs BNDPBND vs IUSBBND vs SHYCORB vs FBNDAGG vs FBNDFBND vs JCPBCGCP vs FBND
Where to next
BND on its own →FBND on its own →Hold both: look the portfolio through →Rankings →BND dividend history →BND holdings →FBND dividend history →FBND holdings →Standards and sources →
Sources and dates
BND filings on SEC EDGAR ↗
BND prospectus with the expense ratio (SEC) ↗
Vanguard page for BND ↗
FBND filings on SEC EDGAR ↗
FBND prospectus with the expense ratio (SEC) ↗
Fidelity website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, BND against FBND, data as of Oct 28, 2026. https://etfiq.com/compare/any/bnd-vs-fbnd

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.