Fidelity Advisor California Municipal Income Fund Class M (FCMTX) 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 FCMTX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FCMTX
FCMTX charges 0.70% annually. There are 296 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 | FCMTX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FCMTX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FCMTX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FCMTX vs FSMUX | |
| Fidelity Municipal Bond Index Fund | 0.07% | 0.00 | Jul 2019 | FCMTX vs FMBIX |
Best Risk-Adjusted Alternatives to FCMTX
FCMTX has a PortfoliosLab risk / return rank of 63. There are 367 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 | FCMTX vs DFABX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FCMTX vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FCMTX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FCMTX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | FCMTX vs ATOIX |
Top Performing FCMTX Alternatives (YTD)
FCMTX is at 1.24% YTD. There are 319 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.65%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.65% | — | Apr 1998 | FCMTX vs NMI | |
| Nuveen Virginia Quality Municipal Income Fund | 6.88% | — | Mar 1993 | FCMTX vs NPV | |
| Nuveen New York AMT Free Quality Municipal Income | 6.87% | — | Nov 2002 | FCMTX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 6.20% | — | Nov 2001 | FCMTX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 5.14% | — | Oct 1992 | FCMTX vs MIY |
Lowest Volatility Alternatives to FCMTX
FCMTX has 2.84% 1-year volatility. There are 276 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 | FCMTX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FCMTX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FCMTX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FCMTX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FCMTX vs DFSMX |
Lowest Drawdown Alternatives to FCMTX
FCMTX has a 1-year max drawdown of -3.48%. There are 445 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 | FCMTX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FCMTX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FCMTX vs APUSX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FCMTX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FCMTX vs TFCYX |
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 | 73 | 11.71% | — | Feb 1988 | FCMTX vs FXAIX | |
| Fidelity Select Semiconductors Portfolio | Semiconductors, Technology Equities | 97 | 85.56% | — | Jul 1985 | FCMTX vs FSELX | |
| Fidelity ZERO Total Market Index Fund | Large Cap Blend Equities | 72 | 12.01% | — | — | FCMTX vs FZROX | |
| Fidelity Large Cap Growth Index Fund | Large Cap Growth Equities | 32 | 8.60% | — | — | FCMTX vs FSPGX | |
| Fidelity Total Market Index Fund | Large Cap Blend Equities | 71 | 12.08% | — | — | FCMTX vs FSKAX | |
| Fidelity Blue Chip Growth Fund | Large Cap Growth Equities | 75 | 18.56% | — | Dec 1987 | FCMTX vs FBGRX | |
| Fidelity Contrafund | Large Cap Growth Equities | 35 | 7.76% | 176.32B | May 1967 | FCMTX vs FCNTX | |
| Fidelity ZERO Large Cap Index Fund | Large Cap Blend Equities | 71 | 11.56% | — | — | FCMTX vs FNILX | |
| Fidelity International Index Fund | Foreign Large Cap Equities | 27 | 9.51% | — | Nov 1997 | FCMTX vs FSPSX | |
| Fidelity Total International Index Fund | Foreign Large Cap Equities | 58 | 15.53% | — | Jun 2016 | FCMTX vs FTIHX |
Often Compared With FCMTX
Investors most often compare FCMTX with VMFXX, FCTDX, SPMO. These 12 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare FCMTX with Any Fund or Stock
Compare FCMTX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FCMTX with funds that move differently
Fidelity Advisor California Municipal Income Fund Class M alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FCMTX.
Explore FCMTX Diversifiers