Fidelity Total Bond Fund

A core fixed income fund for investors seeking income and a measure of protection from stock market volatility.



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Analyst Driven %—100% | Data Coverage %—100%

Morningstar Medalist RatingTM for Fidelity Total Bond Fund (FTBFX) and ETF (FBND)

Morningstar's highest level of commendation as of August 16, 2023.1


Portfolio Manager Ford O’Neil nominated for 2024 U.S. Morningstar Outstanding Portfolio Manager Award2

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 benchmarks and Intermediate Core-Plus Bond peers

Average annual total returns as of 3/31/24

1 yr 3 yrs 5 yrs 10 yrs Gross expense ratio Net expense ratio
Fidelity® Total Bond Fund 3.63% -1.46% 1.50% 2.34% 0.45% 0.45%
BBg US Agg Bond Index 1.70% -2.46% 0.36% 1.54%
BBg US Universal Bond Index 2.67% -2.11% 0.69% 1.83%
Morningstar Intermediate Core-Plus Bond 2.91% -2.66% 0.75% 1.67%
Rank in Morningstar Category 27 17 14 12
# of Funds in Morningstar Category 624 557 527 368

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so investors may have a gain or loss when shares are sold. Current performance may be higher or lower than what is quoted. See the most recent month-end performance

If You Don't Like Bonds Now, Maybe You Just Don't Like Bonds

Our investment team believes the fixed income market has become more attractive, offering the highest yields in about a decade.

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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.

Watch the video (14.32)