Fidelity Massachusetts Municipal Income Fund (FDMMX) 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 FDMMX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FDMMX
FDMMX charges 0.45% annually. There are 96 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 | FDMMX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FDMMX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FDMMX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FDMMX vs FSMUX | |
| Fidelity Municipal Bond Index Fund | 0.07% | 0.00 | Jul 2019 | FDMMX vs FMBIX |
Best Risk-Adjusted Alternatives to FDMMX
FDMMX has a PortfoliosLab risk / return rank of 68. There are 267 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 | FDMMX vs DFABX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FDMMX vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FDMMX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FDMMX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | FDMMX vs ATOIX |
Top Performing FDMMX Alternatives (YTD)
FDMMX is at 1.48% YTD. There are 255 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 | FDMMX vs NMI | |
| Nuveen Virginia Quality Municipal Income Fund | 6.88% | — | Mar 1993 | FDMMX vs NPV | |
| Nuveen New York AMT Free Quality Municipal Income | 6.87% | — | Nov 2002 | FDMMX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 6.20% | — | Nov 2001 | FDMMX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 5.14% | — | Oct 1992 | FDMMX vs MIY |
Lowest Volatility Alternatives to FDMMX
FDMMX has 2.57% 1-year volatility. There are 212 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 | FDMMX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FDMMX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FDMMX vs USMTX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FDMMX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FDMMX vs DFSMX |
Lowest Drawdown Alternatives to FDMMX
FDMMX has a 1-year max drawdown of -2.91%. There are 292 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 | FDMMX vs BATVX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FDMMX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FDMMX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FDMMX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FDMMX vs APUSX |
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 | FDMMX vs FXAIX | |
| Fidelity Select Semiconductors Portfolio | Semiconductors, Technology Equities | 97 | 85.56% | — | Jul 1985 | FDMMX vs FSELX | |
| Fidelity ZERO Total Market Index Fund | Large Cap Blend Equities | 72 | 12.01% | — | — | FDMMX vs FZROX | |
| Fidelity Large Cap Growth Index Fund | Large Cap Growth Equities | 32 | 8.60% | — | — | FDMMX vs FSPGX | |
| Fidelity Total Market Index Fund | Large Cap Blend Equities | 71 | 12.08% | — | — | FDMMX vs FSKAX | |
| Fidelity Blue Chip Growth Fund | Large Cap Growth Equities | 75 | 18.56% | — | Dec 1987 | FDMMX vs FBGRX | |
| Fidelity Contrafund | Large Cap Growth Equities | 35 | 7.76% | 176.32B | May 1967 | FDMMX vs FCNTX | |
| Fidelity ZERO Large Cap Index Fund | Large Cap Blend Equities | 71 | 11.56% | — | — | FDMMX vs FNILX | |
| Fidelity International Index Fund | Foreign Large Cap Equities | 27 | 9.51% | — | Nov 1997 | FDMMX vs FSPSX | |
| Fidelity Total International Index Fund | Foreign Large Cap Equities | 58 | 15.53% | — | Jun 2016 | FDMMX vs FTIHX |
Often Compared With FDMMX
Investors most often compare FDMMX with VMATX, FTABX, FHIGX. These 20 comparison targets span 4 categories, based on PortfoliosLab usage data.
Compare FDMMX with Any Fund or Stock
Compare FDMMX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FDMMX with funds that move differently
Fidelity Massachusetts Municipal Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FDMMX.
Explore FDMMX Diversifiers