Fidelity Advisor Municipal Income Fund Class Z (FIWEX) 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 FIWEX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FIWEX
FIWEX charges 0.42% annually. There are 81 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 | FIWEX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FIWEX vs VTMFX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FIWEX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FIWEX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FIWEX vs FSMUX |
Best Risk-Adjusted Alternatives to FIWEX
FIWEX has a PortfoliosLab risk / return rank of 72. There are 329 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 Municipal Bond Portfolio | 100 | — | Aug 2002 | FIWEX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | FIWEX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | FIWEX vs ATOIX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FIWEX vs DNYMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | FIWEX vs TFCYX |
Top Performing FIWEX Alternatives (YTD)
FIWEX is at 2.15% YTD. There are 234 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 13.08%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 13.08% | — | Apr 1998 | FIWEX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 10.83% | — | Nov 2002 | FIWEX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 9.24% | — | Nov 2001 | FIWEX vs AFB | |
| Nuveen Virginia Quality Municipal Income Fund | 7.64% | — | Mar 1993 | FIWEX vs NPV | |
| BlackRock MuniHoldings California Quality Fund | 7.01% | — | Feb 1998 | FIWEX vs MUC |
Lowest Volatility Alternatives to FIWEX
FIWEX has 2.79% 1-year volatility. There are 271 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 | FIWEX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.57% | — | Apr 2007 | FIWEX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FIWEX vs USMSX | |
| DFA Short Term Municipal Bond Portfolio | 0.60% | — | Aug 2002 | FIWEX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.60% | — | May 2016 | FIWEX vs USMTX |
Lowest Drawdown Alternatives to FIWEX
FIWEX has a 1-year max drawdown of -3.19%. There are 398 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 | FIWEX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FIWEX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FIWEX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FIWEX vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | -0.11% | — | Aug 2002 | FIWEX vs DFSMX |
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 | 60 | 10.20% | — | Feb 1988 | FIWEX vs FXAIX | |
| Fidelity Select Semiconductors Portfolio | Semiconductors, Technology Equities | 94 | 80.55% | — | Jul 1985 | FIWEX vs FSELX | |
| Fidelity ZERO Total Market Index Fund | Large Cap Blend Equities | 62 | 11.04% | — | — | FIWEX vs FZROX | |
| Fidelity Total Market Index Fund | Large Cap Blend Equities | 61 | 11.11% | — | — | FIWEX vs FSKAX | |
| Fidelity Large Cap Growth Index Fund | Large Cap Growth Equities | 18 | 5.32% | — | — | FIWEX vs FSPGX | |
| Fidelity Blue Chip Growth Fund | Large Cap Growth Equities | 63 | 17.40% | — | Dec 1987 | FIWEX vs FBGRX | |
| Fidelity Contrafund | Large Cap Growth Equities | 34 | 10.48% | 176.32B | May 1967 | FIWEX vs FCNTX | |
| Fidelity ZERO Large Cap Index Fund | Large Cap Blend Equities | 56 | 10.04% | — | — | FIWEX vs FNILX | |
| Fidelity International Index Fund | Foreign Large Cap Equities | 33 | 10.08% | — | Nov 1997 | FIWEX vs FSPSX | |
| Fidelity Total International Index Fund | Foreign Large Cap Equities | 56 | 14.09% | — | Jun 2016 | FIWEX vs FTIHX |
Often Compared With FIWEX
Investors most often compare FIWEX with VTEB, APUSX, MQY. These 7 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | Municipal Bonds | 78 | 2.07% | 47.60B | Aug 2015 | FIWEX vs VTEB | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | Municipal Bonds | 0 | -9.63% | — | Dec 2017 | FIWEX vs APUSX | |
| BlackRock MuniYield Quality Fund | Municipal Bonds | 24 | 5.72% | — | Jul 1992 | FIWEX vs MQY | |
| PIMCO Fixed Income SHares: Series TE | Municipal Bonds | 85 | 2.63% | — | Jun 2012 | FIWEX vs FXIEX | |
| BlackRock MuniYield Michigan Quality Fund | Municipal Bonds | 33 | 6.66% | — | Oct 1992 | FIWEX vs MIY | |
| BlackRock MuniHoldings New Jersey Quality Fund | Municipal Bonds | 62 | 6.22% | — | Mar 1998 | FIWEX vs MUJ | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | Municipal Bonds | 98 | 1.02% | — | Dec 2017 | FIWEX vs FGNSX |
Compare FIWEX with Any Fund or Stock
Compare FIWEX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FIWEX with funds that move differently
Fidelity Advisor Municipal Income Fund Class Z alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FIWEX.
Explore FIWEX Diversifiers