FBNDX’s worst drop since 1999 was 18%
Fidelity Investment Grade Bond Fund (FBNDX) fell 18% from Aug 2021 to Oct 2022. It took 4.5 years from that peak to close at a new high, in Feb 2026. Over the same years the S&P 500 fell as much as 55%.
That drop is milder than most. It ranks 104th of the 109 mutual funds PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 1999 to now
How FBNDX held up in each crash
| Crash | Years | FBNDX | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | −3.2% | −47.5% |
| Financial crisis | 2007–09 | −12.3% | −55.2% |
| COVID crash | 2020 | −8.6% | −33.7% |
| 2022 rate shock | 2022 | −16.7% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was FBNDX’s maximum drawdown?
FBNDX’s deepest fall since 1999 was 18.3%, from its high on August 2, 2021 to its low on October 24, 2022. The figure uses daily prices with dividends reinvested.
How long did FBNDX take to recover?
4.5 years. FBNDX first closed above its Aug 2021 high again on February 12, 2026.
Was FBNDX riskier than the S&P 500?
Over the same years, FBNDX’s worst drop was 18.3% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −16.9% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, January 5, 1999 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.