FBND

The Fidelity Total Bond ETF (FBND) is an actively managed fund that invests in a broad spectrum of U.S.‑dollar‑denominated fixed‑income securities, including U.S. Treasury and agency bonds, investment‑grade corporate debt, high‑yield and emerging‑market issuers, as well as mortgage‑backed, asset‑backed and other structured securities; a small portion may be allocated to non‑U.S. sovereign debt. Its strategy follows the Bloomberg U.S. Universal Bond Index as a guide while managers use proprietary weighting, credit analysis, sector allocation and yield‑curve positioning to balance interest‑rate risk and seek incremental return, with up to 20 % of assets allowed in lower‑quality debt. This diversified, core‑plus bond approach makes FBND suitable for investors looking for a single‑ticker exposure to the total U.S. bond market, seeking income and relative stability within a balanced or conservative portfolio.