Fidelity Advisor California Municipal Income Fund Class A (FCMAX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FCMAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FCMAX
FCMAX charges 0.79% annually. There are 384 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | FCMAX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FCMAX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FCMAX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FCMAX vs FSMUX | |
| Fidelity Municipal Bond Index Fund | 0.07% | 0.00 | Jul 2019 | FCMAX vs FMBIX |
Best Risk-Adjusted Alternatives to FCMAX
FCMAX has a PortfoliosLab risk / return rank of 63. There are 389 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | FCMAX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FCMAX vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FCMAX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FCMAX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 99 | — | May 2016 | FCMAX vs USMTX |
Top Performing FCMAX Alternatives (YTD)
FCMAX is at 1.12% YTD. There are 341 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.50%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.50% | — | Apr 1998 | FCMAX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 7.89% | — | Nov 2002 | FCMAX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 6.96% | — | Nov 2001 | FCMAX vs AFB | |
| Nuveen Virginia Quality Municipal Income Fund | 6.88% | — | Mar 1993 | FCMAX vs NPV | |
| BlackRock MuniYield Michigan Quality Fund | 5.83% | — | Oct 1992 | FCMAX vs MIY |
Lowest Volatility Alternatives to FCMAX
FCMAX has 2.83% 1-year volatility. There are 278 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | FCMAX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FCMAX vs USMSX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FCMAX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FCMAX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FCMAX vs DFSMX |
Lowest Drawdown Alternatives to FCMAX
FCMAX has a 1-year max drawdown of -3.41%. There are 433 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | FCMAX vs BATVX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FCMAX vs APUSX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FCMAX vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FCMAX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FCMAX vs FHMIX |
Other Mutual Funds from Fidelity
The 10 most viewed Fidelity mutual funds shown here include FXAIX, FSELX, FZROX and span 6 categories. AUM among these funds goes as high as $176B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Fidelity 500 Index Fund | S&P 500 | 66 | 10.89% | — | Feb 1988 | FCMAX vs FXAIX | |
| Fidelity Select Semiconductors Portfolio | Semiconductors, Technology Equities | 97 | 86.42% | — | Jul 1985 | FCMAX vs FSELX | |
| Fidelity ZERO Total Market Index Fund | Large Cap Blend Equities | 64 | 11.17% | — | — | FCMAX vs FZROX | |
| Fidelity Large Cap Growth Index Fund | Large Cap Growth Equities | 27 | 7.15% | — | — | FCMAX vs FSPGX | |
| Fidelity Total Market Index Fund | Large Cap Blend Equities | 63 | 11.22% | — | — | FCMAX vs FSKAX | |
| Fidelity Blue Chip Growth Fund | Large Cap Growth Equities | 71 | 18.19% | — | Dec 1987 | FCMAX vs FBGRX | |
| Fidelity Contrafund | Large Cap Growth Equities | 37 | 8.62% | 176.32B | May 1967 | FCMAX vs FCNTX | |
| Fidelity ZERO Large Cap Index Fund | Large Cap Blend Equities | 63 | 10.70% | — | — | FCMAX vs FNILX | |
| Fidelity International Index Fund | Foreign Large Cap Equities | 27 | 8.67% | — | Nov 1997 | FCMAX vs FSPSX | |
| Fidelity Total International Index Fund | Foreign Large Cap Equities | 56 | 14.49% | — | Jun 2016 | FCMAX vs FTIHX |
Often Compared With FCMAX
Investors most often compare FCMAX with FAHDX, QQQ, DMREX. These 12 comparison targets span 3 categories, based on PortfoliosLab usage data.
Compare FCMAX with Any Fund or Stock
Compare FCMAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FCMAX with funds that move differently
Fidelity Advisor California Municipal Income Fund Class A alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FCMAX.
Explore FCMAX Diversifiers