Fidelity Municipal Bond Index Fund (FMBIX) 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 FMBIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FMBIX
FMBIX charges 0.07% annually. There are 4 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 | FMBIX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FMBIX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FMBIX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FMBIX vs FSMUX | |
| PIMCO Fixed Income SHares: Series TE | 0.07% | — | Jun 2012 | FMBIX vs FXIEX |
Best Risk-Adjusted Alternatives to FMBIX
Among 478 mutual funds in the Municipal Bonds category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | FMBIX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FMBIX vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FMBIX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FMBIX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 99 | — | May 2016 | FMBIX vs USMTX |
Top Performing FMBIX Alternatives (YTD)
Among 479 mutual funds in the Municipal Bonds category with YTD return data, the top-performing alternatives shown here go as high as 11.50%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.50% | — | Apr 1998 | FMBIX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 7.89% | — | Nov 2002 | FMBIX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 6.96% | — | Nov 2001 | FMBIX vs AFB | |
| Nuveen Virginia Quality Municipal Income Fund | 6.88% | — | Mar 1993 | FMBIX vs NPV | |
| BlackRock MuniYield Michigan Quality Fund | 5.83% | — | Oct 1992 | FMBIX vs MIY |
Lowest Volatility Alternatives to FMBIX
Among 480 mutual funds in the Municipal Bonds category with 1-year volatility data, the lowest-volatility alternatives shown here go as low as 0.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | FMBIX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FMBIX vs USMSX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FMBIX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FMBIX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FMBIX vs DFSMX |
Lowest Drawdown Alternatives to FMBIX
Among 479 mutual funds in the Municipal Bonds category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | FMBIX vs BATVX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FMBIX vs APUSX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FMBIX vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FMBIX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FMBIX vs FHMIX |
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 | 66 | 10.89% | — | Feb 1988 | FMBIX vs FXAIX | |
| Fidelity Select Semiconductors Portfolio | Semiconductors, Technology Equities | 97 | 86.42% | — | Jul 1985 | FMBIX vs FSELX | |
| Fidelity ZERO Total Market Index Fund | Large Cap Blend Equities | 64 | 11.17% | — | — | FMBIX vs FZROX | |
| Fidelity Large Cap Growth Index Fund | Large Cap Growth Equities | 27 | 7.15% | — | — | FMBIX vs FSPGX | |
| Fidelity Total Market Index Fund | Large Cap Blend Equities | 63 | 11.22% | — | — | FMBIX vs FSKAX | |
| Fidelity Blue Chip Growth Fund | Large Cap Growth Equities | 71 | 18.19% | — | Dec 1987 | FMBIX vs FBGRX | |
| Fidelity Contrafund | Large Cap Growth Equities | 37 | 8.62% | 176.32B | May 1967 | FMBIX vs FCNTX | |
| Fidelity ZERO Large Cap Index Fund | Large Cap Blend Equities | 63 | 10.70% | — | — | FMBIX vs FNILX | |
| Fidelity International Index Fund | Foreign Large Cap Equities | 27 | 8.67% | — | Nov 1997 | FMBIX vs FSPSX | |
| Fidelity Total International Index Fund | Foreign Large Cap Equities | 56 | 14.49% | — | Jun 2016 | FMBIX vs FTIHX |
Often Compared With FMBIX
Investors most often compare FMBIX with VTEB, VTEAX, FTABX. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare FMBIX with Any Fund or Stock
Compare FMBIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FMBIX with funds that move differently
Fidelity Municipal Bond Index Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FMBIX.
Explore FMBIX Diversifiers