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Fidelity California Municipal Income Fund (FCTFX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

ISIN

US3160612095

CUSIP

316061209

Issuer

Fidelity

Inception Date

Jul 7, 1984

Min. Investment

$0

Asset Class

Bond

Expense Ratio

FCTFX features an expense ratio of 0.45%, falling within the medium range.


Expense ratio chart for FCTFX: current value at 0.45% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.45%

Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Popular comparisons:
FCTFX vs. PWZ FCTFX vs. VCLAX FCTFX vs. CMF FCTFX vs. VCITX FCTFX vs. VCAIX
Popular comparisons:
FCTFX vs. PWZ FCTFX vs. VCLAX FCTFX vs. CMF FCTFX vs. VCITX FCTFX vs. VCAIX

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Fidelity California Municipal Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


1,000.00%1,500.00%2,000.00%2,500.00%3,000.00%JulyAugustSeptemberOctoberNovemberDecember
712.41%
3,170.67%
FCTFX (Fidelity California Municipal Income Fund)
Benchmark (^GSPC)

Returns By Period

Fidelity California Municipal Income Fund had a return of 2.20% year-to-date (YTD) and 2.70% in the last 12 months. Over the past 10 years, Fidelity California Municipal Income Fund had an annualized return of 2.13%, while the S&P 500 had an annualized return of 11.01%, indicating that Fidelity California Municipal Income Fund did not perform as well as the benchmark.


FCTFX

YTD

2.20%

1M

-0.02%

6M

1.76%

1Y

2.70%

5Y*

0.92%

10Y*

2.13%

^GSPC (Benchmark)

YTD

23.11%

1M

-0.36%

6M

7.02%

1Y

23.15%

5Y*

12.80%

10Y*

11.01%

Monthly Returns

The table below presents the monthly returns of FCTFX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2024-0.10%0.06%-0.16%-0.85%-0.26%1.42%1.13%0.66%1.54%-1.61%1.56%2.20%
20233.24%-2.26%2.09%-0.58%-0.46%0.81%0.40%-1.10%-2.70%-1.26%5.98%2.50%6.51%
2022-2.75%-0.69%-3.08%-3.06%1.42%-1.60%2.60%-2.03%-3.48%-0.73%4.43%-0.17%-9.07%
20210.64%-1.68%0.57%0.86%0.42%0.18%0.93%-0.33%-0.79%-0.12%0.93%-0.28%1.30%
20201.87%1.31%-3.98%-1.86%3.20%0.97%1.57%-0.39%0.05%-0.17%1.48%0.20%4.13%
20190.81%0.46%1.66%0.39%1.55%0.38%0.84%1.74%-0.83%0.07%0.06%0.14%7.49%
2018-1.30%-0.56%0.16%-0.21%1.37%-0.24%0.43%0.18%-0.69%-0.77%1.05%1.29%0.68%
20170.51%0.63%0.35%0.73%1.51%-0.22%0.64%0.87%-0.37%0.40%-0.91%1.03%5.27%
20161.26%0.10%0.42%0.71%0.26%1.91%-0.11%0.19%-0.42%-1.09%-4.16%0.91%-0.14%
20152.03%-1.04%0.35%-0.72%-0.25%-0.18%0.75%0.29%0.74%0.38%0.35%0.82%3.55%
20142.28%1.17%0.24%1.26%1.42%-0.01%0.47%1.32%0.29%0.92%0.20%0.59%10.61%
20130.54%0.35%-0.23%1.22%-1.31%-2.74%-1.12%-1.22%2.48%0.89%-0.33%-0.15%-1.72%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of FCTFX is 32, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of FCTFX is 3232
Overall Rank
The Sharpe Ratio Rank of FCTFX is 3333
Sharpe Ratio Rank
The Sortino Ratio Rank of FCTFX is 3131
Sortino Ratio Rank
The Omega Ratio Rank of FCTFX is 3636
Omega Ratio Rank
The Calmar Ratio Rank of FCTFX is 3333
Calmar Ratio Rank
The Martin Ratio Rank of FCTFX is 2828
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Fidelity California Municipal Income Fund (FCTFX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


Sharpe ratio
The chart of Sharpe ratio for FCTFX, currently valued at 0.73, compared to the broader market-1.000.001.002.003.004.000.731.90
The chart of Sortino ratio for FCTFX, currently valued at 1.01, compared to the broader market-2.000.002.004.006.008.0010.001.012.54
The chart of Omega ratio for FCTFX, currently valued at 1.15, compared to the broader market0.501.001.502.002.503.003.501.151.35
The chart of Calmar ratio for FCTFX, currently valued at 0.46, compared to the broader market0.005.0010.0015.000.462.81
The chart of Martin ratio for FCTFX, currently valued at 2.62, compared to the broader market0.0020.0040.0060.002.6212.39
FCTFX
^GSPC

The current Fidelity California Municipal Income Fund Sharpe ratio is 0.73. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Use the chart below to compare the Sharpe ratio of Fidelity California Municipal Income Fund with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.


Rolling 12-month Sharpe Ratio0.501.001.502.002.503.003.504.00JulyAugustSeptemberOctoberNovemberDecember
0.73
1.90
FCTFX (Fidelity California Municipal Income Fund)
Benchmark (^GSPC)

Dividends

Dividend History

Fidelity California Municipal Income Fund provided a 2.82% dividend yield over the last twelve months, with an annual payout of $0.34 per share. The fund has been increasing its distributions for 2 consecutive years.


2.50%3.00%3.50%4.00%$0.00$0.10$0.20$0.30$0.40$0.5020132014201520162017201820192020202120222023
Dividends
Dividend Yield
PeriodTTM20232022202120202019201820172016201520142013
Dividend$0.34$0.33$0.30$0.29$0.33$0.36$0.38$0.39$0.41$0.43$0.46$0.47

Dividend yield

2.82%2.67%2.52%2.20%2.45%2.71%3.01%3.01%3.24%3.31%3.54%3.82%

Monthly Dividends

The table displays the monthly dividend distributions for Fidelity California Municipal Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2024$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.00$0.32
2023$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.33
2022$0.02$0.02$0.03$0.02$0.03$0.03$0.03$0.03$0.03$0.03$0.02$0.03$0.30
2021$0.03$0.02$0.03$0.03$0.03$0.02$0.03$0.03$0.02$0.02$0.02$0.02$0.29
2020$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.33
2019$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.36
2018$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.38
2017$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.39
2016$0.04$0.03$0.04$0.03$0.04$0.03$0.04$0.04$0.03$0.03$0.03$0.04$0.41
2015$0.04$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.43
2014$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.46
2013$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.47

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


-8.00%-6.00%-4.00%-2.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-1.77%
-3.58%
FCTFX (Fidelity California Municipal Income Fund)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the Fidelity California Municipal Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Fidelity California Municipal Income Fund was 19.94%, occurring on Oct 19, 1987. Recovery took 242 trading sessions.

The current Fidelity California Municipal Income Fund drawdown is 1.77%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-19.94%Mar 6, 1987158Oct 19, 1987242Sep 30, 1988400
-13.73%Aug 6, 2021310Oct 25, 2022489Oct 1, 2024799
-13.24%Feb 1, 1994205Nov 22, 1994127May 25, 1995332
-12.45%Jan 24, 2008227Dec 15, 2008170Aug 19, 2009397
-11.65%Mar 10, 20209Mar 20, 2020170Nov 19, 2020179

Volatility

Volatility Chart

The current Fidelity California Municipal Income Fund volatility is 1.05%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


0.00%1.00%2.00%3.00%4.00%5.00%6.00%JulyAugustSeptemberOctoberNovemberDecember
1.05%
3.64%
FCTFX (Fidelity California Municipal Income Fund)
Benchmark (^GSPC)
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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