Fidelity Total Bond ETF
FBND
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Oct 9, 2014
- CIK
- 0001562565
- Website
- digital.fidelity.com
- Similar Companies
- Business
- Fidelity Total Bond ETF (FBND) is an actively managed exchange-traded fund that seeks competitive risk-adjusted performance in the fixed-income market by investing principally in a diversified portfolio of investment-grade bonds and related securities; up to 20% in high-yield, non-investment-grade debt and emerging markets debt; U.S. Treasuries, government-related obligations, mortgage-backed securities, asset-backed securities, commercial mortgage-backed securities, and corporate bonds across various maturities and credit qualities. The fund follows a team-based investment process emphasizing asset allocation, sector and security selection, yield-curve positioning, and opportunistic trading, with duration and sector weights guided by the Bloomberg U.S. Aggregate Bond Index. Launched on October 6, 2014, and domiciled in the United States with shares listed on NYSE Arca, FBND is issued and managed by Fidelity Merrimack Street Trust, a product of Fidelity Investments, headquartered in Boston, Massachusetts. As of September 30, 2025, the fund manages approximately $21.2 billion in assets, with a gross expense ratio of 0.36%, an effective duration of 6.06 years, and a 30-day SEC yield of 4.65%; top holdings include U.S. Treasury notes and bonds (such as 3.75% and 3.875% issues), Federal National Mortgage Association securities, and Government National Mortgage Association pools, alongside cash equivalents like the Fidelity Cash Central Fund. In recent periods through Q3 2025, the fund has delivered NAV returns outperforming the Bloomberg U.S. Aggregate Bond Index, including 2.19% over three months, 6.57% year-to-date, and 2.91% since inception (annualized), benefiting from overweight positions in high-yield securities, leveraged loans, emerging-markets debt, and security selection amid falling yields and tightening credit spreads; it attracted over $10 billion in net inflows during 2025 amid investor demand for active core-plus bond strategies. The fund remains positioned overweight in risk assets such as short- and intermediate-term investment-grade corporates, high-yield bonds, asset-backed securities, and U.S. Treasurys relative to its benchmark, while underweight in agency mortgage-backed securities and long-dated credit, reflecting strategic adjustments to a steepening yield curve, persistent inflation concerns, and Federal Reserve rate cuts initiated in September 2025.