Fidelity Total Bond Fund
A core fixed income fund for investors seeking income and a measure of protection from stock market volatility.
Gold Analyst Rating for Fidelity Total Bond Fund (FTBFX) and ETF (FBND)
Morningstar's highest level of commendation as of August 18, 2022.1
Fidelity® Total Bond Fund (FTBFX)
The fund seeks income from a broad selection of fixed income securities, with a core exposure to investment-grade bonds. This diverse allocation may help the fund add value in a variety of markets.
- A focus on high quality—Invests at least 80% of assets in investment-grade bonds
- Enhanced return potential—Invests up to 20% of assets in below-investment-grade securities
- Balances return potential against risk—Co-managers seek to provide a conservative experience in line with an investor's expectation of a core bond fund
Investors may either invest in the Fidelity® Total Bond Fund (FTBFX) or in the Fidelity® Total Bond ETF (FBND).
Fidelity® Total Bond Fund performance and its benchmark and Intermediate Core-Plus Bond peer
Average annual total returns as of 12/31/22
|1 yr||3 yrs||5 yrs||10 yrs||Gross expense ratio|
|Fidelity® Total Bond Fund||-12.91%||-1.65%||0.75%||1.77%||0.45%|
|BBg US Agg Bond Index||-13.01%||-2.71%||0.02%||1.06%||–|
|BBg US Universal Bond Index||-12.99%||-2.54%||0.18%||1.33%||–|
|Morningstar Intermediate Core-Plus Bond||-13.27%||-2.43%||0.15%||1.25%||–|
|Rank in Morningstar Category||31||18||16||16||–|
|# of Funds in Morningstar Category||621||563||511||368||–|
Fidelity fund manager insights
Portfolio managers Ford O'Neil and Celso Munoz describe their investment process and how it helped them to identify opportunities despite recent challenges in fixed income markets.
2016 Morningstar Manager of the Year Award Winner
Each year Morningstar® names Fund Managers of the Year for 4 asset class categories. Ford O'Neil and team (Matthew Conti,2 Jeffrey Moore, CFA, and Michael Foggin) were selected as 2016 US Fixed-Income Fund Manager of the Year for Fidelity Total Bond Fund (FTBFX).
According to Morningstar, this prestigious award recognizes portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. To qualify for the award, managers' funds must demonstrate:
- Impressive performance in 2016: the Fund beat 96% of its Morningstar Intermediate-Term peers, ranking in the 4th percentile of 985 funds in the category for 2016
- Excellent long-term risk-adjusted returns
- Interests aligned with shareholders
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