The effect of chemical bonding between phases of a glass matrix‐metal composite on strength and fracture behavior was investigated. When no chemical bonding occurs, strengthening can be achieved through the mechanical formation of an interface between the dispersant and matrix. Even greater strengthening can be obtained by the formation of a chemical bond. Strengthening occurs by the limitation of the Griffith flaw size and is controlled by micromechanical stress concentrations developed on loading. Internal stresses developed on cooling from the fabrication temperature control the path of fracture. A chemical bond counteracts the micromechanical stress concentration and therefore increases the strengt