DFGX vs FBND: Grades, Fees and Holdings Compared

Dimensional International Core Fixed Income ETF

DFGXANasdaq

Fidelity Total Bond ETF

FBNDANYSE Arca

Overlap

0.0%by weight

Expense ratio

DFGX −0.16pt a year

DFGX0.20%FBND0.36%

Avg volume · 30D

FBND 17.6×the volume

DFGX218KFBND3.83M

DFGX vs FBND Performance

Oct 31, 2025 – Oct 30, 2026

−0.7%DFGX−0.2%FBND

Expense ratio: DFGX 0.20%, better; FBND 0.36%
Fund size: DFGX $1.93B; FBND $27.9B
1Y total return: DFGX −0.7%; FBND −0.2%, better
Yield (12M): DFGX 4.93%, better; FBND 4.80%
Holdings: DFGX 822; FBND 4840
Avg volume (30D): DFGX 218K sh; FBND 3.83M sh, better
NAV per share: DFGX $51.64; FBND $44.10
52W range

ETF.net Grade

Pillar letters and Scores for DFGX, FBND, with each pillar’s weight
Pillar	DFGX	FBND
Cost30% weight	A95Higher	B64
Mission25% weight	A87	A100Higher
Risk15% weight	D33	D36Higher
Tradability15% weight	B64	A83Higher
Holdings10% weight	A79Higher	B64
Durability5% weight	B57	A89Higher

Rank among Global Aggregate Bond (Unhedged) funds

How we build Categories ›

Same Category. DFGX and FBND are both graded against the same 28 Global Aggregate Bond (Unhedged) funds, so their Grades compare head to head.

Global Aggregate Bond (Unhedged)⁠

Category · 28 funds

See all 28 ›

DFGX ranks 4th and FBND 6th of 28 funds in the Global Aggregate Bond (Unhedged) Category.

Rank 1ADFGPDimensional Global Core Plus Fixed Income ETFScore 80
Rank 2ABNDWVanguard Total World Bond ETFScore 77
Rank 2AGRNBVanEck Green Bond ETFScore 77
Rank 4ADFGXDimensional International Core Fixed Income ETFScore 75
Rank 4ADFSBDimensional Global Sustainability Fixed Income ETFScore 75
Rank 6AEVTREaton Vance Total Return Bond ETFScore 73
Rank 6AFBNDFidelity Total Bond ETFScore 73
Rank 8BBINCiShares Flexible Income Active ETFScore 68

Our read on each fund

ETF.net Research

DFGXADimensional International Core Fixed Income ETF

FBNDAFidelity Total Bond ETF

In short

DFGX Dimensional's bond sleeve for everything outside the US: roughly 700 mostly developed-market issues at 0.20%, net of a waiver through February 28, 2027. Built to sit beside a US core, not re-buy it.

FBND An active core bond fund in an ETF wrapper: Fidelity treats the Bloomberg U.S. Aggregate as a benchmark, not a cage, adding high-yield and emerging-market debt to the investment-grade base. Pays monthly.

Stated mandate

DFGX The fund seeks to maximize total returns through income and capital appreciation.

FBND The fund seeks a high level of current income. It normally invests at least 80% of assets in debt securities and repurchase agreements, diversifying across investment-grade, high-yield, and emerging-market debt.

Why people hold it

DFGX Costs 0.20% net of a waiver through February 28, 2027 (0.21% gross), below the category median and under sibling DFGP at 0.22% net of a waiver through the same date.
Ex-US by design: roughly 700 bonds, mostly developed-market governments, agencies and corporates, with maturities inside 20 years from settlement.sec.gov
Run systematically, with exposure to duration, credit quality and currency of issuance adjusted from market prices rather than copied from an index bond for bond.dimensional.com
A billion-dollar-plus fund and one of the stronger implementations in its global bond peer group, paying income quarterly.

FBND Active where the core-bond aisle is mostly passive: the mandate spans investment-grade, high-yield and emerging-market debt, so the manager can go where the index barely reaches.fidelity.com
Roughly 2,700 bonds across the credit spectrum, with income paid monthly. One ticket instead of three separate sleeves.
Trading since 2014 at 0.36%, the median fee for its category. Fidelity isn't charging a premium for the active label.
A multi-billion-dollar fund that trades actively, so getting in or out is rarely the hard part.

Worth knowing

DFGX Foreign bonds mean two moving parts: local interest rates and exchange rates. The ride can differ from a US core holding.sec.gov
Not a plain index tracker, so results can drift from a global ex-US bond benchmark in either direction.dimensional.com
A 2023 launch and moderate trading volume: a shorter record than long-standing global bond funds, and spreads can widen in fast markets.sec.gov

FBND The index Aggs are far cheaper: BND, AGG and SPAB all run 0.03%. That gap is the hurdle the active calls have to clear every year.
High-yield and emerging-market debt add credit risk that a pure Aggregate tracker does not carry.fidelity.com
Outcomes ride on the manager's decisions, not index replication. The Aggregate is the yardstick here, not the holdings list.

Full DFGX profile⁠

Full FBND profile⁠

DFGX vs FBND Holdings

How DFGX and FBND differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of DFGX and 0.0% of FBND.

Level by level

Asset classFixed Income, Equity0.0%
Holdings0 in both0.0%
Countryby domicile16.1%

Sector

No Sector split for DFGX.

Country, concentration and asset class

Country by domicile

Country weights in DFGX and FBND, widest gap first
Country	More in DFGXMore in FBND	DFGX	FBND
Brazil	FBND +38.7 points	0.0%	38.7%
Ireland	FBND +30.2 points	0.1%	30.3%
Japan	DFGX +19.2 points	19.2%	0.0%
Canada	DFGX +17.4 points	17.4%	0.0%
United States	FBND +15.0 points	16.0%	31.0%
United Kingdom	DFGX +9.2 points	9.2%	0.0%
France	DFGX +8.9 points	8.9%	0.0%
Netherlands	DFGX +7.5 points	7.5%	0.0%
Other countries (17)	DFGX +21.6 points	21.6%	0.0%

Outside the US: DFGX 100% developed, 0% emerging. FBND 44% developed, 56% emerging.

Concentration

Weight in the 10 largest Holdings

DFGX14.3%
FBND15.2%

Securities held

DFGX721
FBND4,793

Asset class

DFGX: Fixed Income
FBND: Equity

Holdings

Only in DFGX721
In both0
Only in FBND4,793

Only in DFGX

721 securities, 98.6% of DFGX by weight

Japan Gov 2.5% 06/20/362.20%
Japan Gov 1.% 12/20/351.81%
Japan Gov .4% 09/20/401.70%
Japan Gov 2.4% 03/20/361.70%
Japan Gov 1.7% 09/20/351.48%
Japan Gov .4% 03/20/361.40%
Cdp Finan 3.65% 06/02/351.10%
New Zeala 3.5% 04/14/331.07%
Berkshire 2.375% 06/19/391.00%
Japan Gov 1.2% 09/20/350.96%
Alphabet 3% 05/06/330.95%
Kommuninv 3.25% 11/12/290.90%
Japan Gov .8% 03/20/340.88%
Japan Gov .6% 12/20/330.88%
United 4.5% 03/07/350.85%
Totalener 4.06% 07/01/400.83%
Cppib Cap 4.3% 06/02/340.82%
Sfil SA 3.% 05/23/310.79%
Japan Gov 1.4% 03/20/350.75%
Province 4.15% 06/18/340.73%
Province 3.95% 06/01/350.73%
Japan Gov 1.4% 09/20/340.73%
Novo Nord 3.375% 02/20/350.72%
Japan Gov 1.6% 03/20/440.72%
BlackRock 3.75% 07/18/350.70%
Visa Inc 2.375% 06/15/340.70%
Alphabet 2.822% 05/16/330.69%
Asb Finan .25% 09/08/280.65%
Province 3.8% 12/02/340.64%
New Zeala 2.75% 04/15/370.60%
Cie De Fi 2.375% 03/15/300.59%
European 3.625% 12/12/400.59%
Deutsche 3.875% 09/28/330.58%
Westpac B Vrn 01/14/280.58%
Global Pa 4.875% 03/17/310.56%
New Zeala 4.25% 05/15/340.55%
Comcast C 1.875% 02/20/360.54%
Cppib Cap 4.75% 06/02/330.53%
Orsted As 5.75% 04/09/400.52%
Siemens F 3.375% 02/22/370.49%
Walmart I 5.25% 09/28/350.49%
Japan Gov .6% 12/20/370.48%
Imperial 3.875% 02/12/340.48%
Acciona 5.125% 04/23/310.47%
United Ki .875% 07/31/330.47%
American 3.95% 03/19/320.46%
Amazon.co 3.7% 03/16/350.46%
Visa Inc 3.125% 05/15/330.46%
Ntt Fi 3.6780% 07/16/330.45%
Province 4.25% 06/02/340.45%

Only in FBND

4,793 securities, 100% of FBND by weight

Ustn 4.125% 02/15/361.97%
Ustn 4.375% 05/15/361.86%
Ustn 4.25% 08/15/351.82%
Ustb 5% 05/15/561.36%
Ustb 4.25% 02/15/541.34%
Ustn 3.875% 12/31/321.33%
Umbs 30YR 2% 12/56 #tba1.24%
Ustb 4.5% 11/15/541.10%
Ustn 4% 01/31/331.03%
Ustn 4.25% 05/15/351.01%
Ustb 4.75% 08/15/550.98%
Ustb 5.125% 08/15/560.96%
Ustn 4.125% 05/31/320.92%
Ustb 4.75% 05/15/550.91%
Ustn 4.25% 11/15/340.90%
Ustb 4.75% 02/15/560.88%
Ustn 4% 11/15/350.85%
Ustn 4.625% 02/15/350.77%
Gnii Ii 5.5% 12/56 #tba0.73%
Ustb 4% 11/15/520.73%
Ustb 4.625% 05/15/540.71%
Ustb 4.625% 11/15/550.70%
Ustb 4.25% 08/15/540.65%
Gnii Ii 5.5% 11/56 #tba0.62%
Ustb 3.625% 02/15/530.53%
Ustn 3.5% 02/15/330.53%
Ustn 4.375% 07/31/330.53%
Ustn 3.875% 08/15/340.52%
Ustn 4.25% 06/30/330.52%
Ustn 3.375% 05/15/330.52%
Ustn 4.5% 11/15/330.50%
Gnii Ii 6% 12/56 #tba0.46%
Ustn 3.75% 02/28/330.45%
Ustn 4% 07/31/320.44%
Ustb 4.125% 08/15/530.41%
Jpmc Co 4.493%/VAR 03/24/310.41%
Gnma Ii 5% 07/56#MB12840.41%
Ustn 4.5% 08/31/330.40%
Ustn 4.625% 08/15/360.39%
Boa Corp 3.419%/VAR 12/20/280.38%
Ustn 3.75% 11/30/320.37%
Ustn 4% 06/30/320.37%
Jpmc Co 4.452%/VAR 12/05/290.36%
Ustb 4.625% 02/15/550.34%
Mstdw 4.431%/VAR 01/23/300.32%
Ustn 3.875% 08/15/330.31%
Ustn 4.125% 04/30/330.31%
Wellsfargo 4.478%/VAR 04/04/310.31%
Ustn 4.125% 03/31/320.31%
Boa Corp 2.592%/VAR 04/29/310.30%

Weight gaps

DFGX and FBND share no securities.

All 666 DFGX holdings⁠All 2,742 FBND holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DFGX vs FBND Cost

Overpaying FBND vs DFGX

$3,165

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DFGX 0.20%
$4,155
FBND 0.36%
$7,320

Amount$10,000

Years30 years

Cost over time

DFGX 0.20%
FBND 0.36%
Overpaying

Year by year

Year	DFGX	FBND	Overpaying
10	$365	$652	$287
20	$1,421	$2,522	$1,101
30	$4,155	$7,320	$3,165

Expense ratio

0.20%DFGX, cheaper
0.36%FBND

DFGX0.20%FBND0.36%

0.05%1.15%

Middle half of Global Aggregate Bond (Unhedged) funds
Median 0.40%

DFGX 2nd cheapest of 28 funds

FBND 11th cheapest of 28 funds

DFGX vs FBND Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DFGX 4.93%, better; FBND 4.80%
Payout (12M): DFGX $2.55; FBND $2.12
Last payment: DFGX $0.20; FBND $0.18
Ex-dividend: DFGX Oct 20, 2026; FBND Oct 29, 2026
Paid on: DFGX Oct 22, 2026; FBND Pays Nov 2, 2026
Frequency: DFGX Irregular; FBND Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DFGXIrregular · 15 paymentsAll DFGX payments⁠

FBNDMonthly · 46 paymentsAll FBND payments⁠

DFGX vs FBND Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DFGX 4.1%since Dec 2023FBND 5.6%
Return per unit of riskSharpe ratio, 3 years: DFGX −0.16since Dec 2023FBND 0.26
Worst fallMax drawdown, 5 years: DFGX −3.4%since Nov 2023FBND −16.9%
Market sensitivityBeta, 5 years: DFGX 0.20FBND 0.99; Market = 1

Popular comparisons

DFGXAvsDFGPA
Dimensional International Core Fixed Income ETF · Dimensional Global Core Plus Fixed Income ETF
Expense ratio
0.20% · 0.22%
Category
FBNDAvsDFGPA
Fidelity Total Bond ETF · Dimensional Global Core Plus Fixed Income ETF
Expense ratio
0.36% · 0.22%
Category
DFGXAvsBNDWA
Dimensional International Core Fixed Income ETF · Vanguard Total World Bond ETF
Expense ratio
0.20% · 0.05%
Category
FBNDAvsBNDWA
Fidelity Total Bond ETF · Vanguard Total World Bond ETF
Expense ratio
0.36% · 0.05%
Category
DFGXAvsGRNBA
Dimensional International Core Fixed Income ETF · VanEck Green Bond ETF
Expense ratio
0.20% · 0.20%
Category
FBNDAvsGRNBA
Fidelity Total Bond ETF · VanEck Green Bond ETF
Expense ratio
0.36% · 0.20%
Category