Fidelity Advisor Limited Term Municipal Income Fund Class Z (FIWAX) 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 FIWAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FIWAX
FIWAX charges 0.31% annually. There are 56 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 | FIWAX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FIWAX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FIWAX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FIWAX vs FSMUX | |
| PIMCO Fixed Income SHares: Series TE | 0.07% | — | Jun 2012 | FIWAX vs FXIEX |
Best Risk-Adjusted Alternatives to FIWAX
FIWAX has a PortfoliosLab risk / return rank of 73. There are 125 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 | FIWAX vs DFABX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FIWAX vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FIWAX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FIWAX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | FIWAX vs ATOIX |
Top Performing FIWAX Alternatives (YTD)
FIWAX is at 0.87% YTD. There are 392 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 | FIWAX vs NMI | |
| Nuveen Virginia Quality Municipal Income Fund | 6.88% | — | Mar 1993 | FIWAX vs NPV | |
| Nuveen New York AMT Free Quality Municipal Income | 6.87% | — | Nov 2002 | FIWAX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 6.29% | — | Nov 2001 | FIWAX vs AFB | |
| BlackRock MuniHoldings New Jersey Quality Fund | 5.16% | — | Mar 1998 | FIWAX vs MUJ |
Lowest Volatility Alternatives to FIWAX
FIWAX has 1.48% 1-year volatility. There are 53 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 | FIWAX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FIWAX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FIWAX vs USMTX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FIWAX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FIWAX vs DFSMX |
Lowest Drawdown Alternatives to FIWAX
FIWAX has a 1-year max drawdown of -1.58%. There are 56 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 | FIWAX vs BATVX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FIWAX vs APUSX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FIWAX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FIWAX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FIWAX vs ATOIX |
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 | FIWAX vs FXAIX | |
| Fidelity Select Semiconductors Portfolio | Semiconductors, Technology Equities | 97 | 85.56% | — | Jul 1985 | FIWAX vs FSELX | |
| Fidelity ZERO Total Market Index Fund | Large Cap Blend Equities | 72 | 12.01% | — | — | FIWAX vs FZROX | |
| Fidelity Large Cap Growth Index Fund | Large Cap Growth Equities | 32 | 8.60% | — | — | FIWAX vs FSPGX | |
| Fidelity Total Market Index Fund | Large Cap Blend Equities | 71 | 12.08% | — | — | FIWAX vs FSKAX | |
| Fidelity Blue Chip Growth Fund | Large Cap Growth Equities | 75 | 18.56% | — | Dec 1987 | FIWAX vs FBGRX | |
| Fidelity Contrafund | Large Cap Growth Equities | 35 | 7.76% | 176.32B | May 1967 | FIWAX vs FCNTX | |
| Fidelity ZERO Large Cap Index Fund | Large Cap Blend Equities | 71 | 11.56% | — | — | FIWAX vs FNILX | |
| Fidelity International Index Fund | Foreign Large Cap Equities | 27 | 9.51% | — | Nov 1997 | FIWAX vs FSPSX | |
| Fidelity Total International Index Fund | Foreign Large Cap Equities | 58 | 15.53% | — | Jun 2016 | FIWAX vs FTIHX |
Often Compared With FIWAX
Investors most often compare FIWAX with MUC, FMBIX, NQP. These 4 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| BlackRock MuniHoldings California Quality Fund | Municipal Bonds | 24 | 4.25% | — | Feb 1998 | FIWAX vs MUC | |
| Fidelity Municipal Bond Index Fund | Municipal Bonds | — | — | 0.00 | Jul 2019 | FIWAX vs FMBIX | |
| Nuveen Pennsylvania Quality Municipal Income | Municipal Bonds | — | — | — | Feb 1991 | FIWAX vs NQP | |
| BlackRock MuniYield Michigan Quality Fund | Municipal Bonds | 17 | 5.14% | — | Oct 1992 | FIWAX vs MIY |
Compare FIWAX with Any Fund or Stock
Compare FIWAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FIWAX with funds that move differently
Fidelity Advisor Limited Term Municipal Income Fund Class Z alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FIWAX.
Explore FIWAX Diversifiers