Fidelity Michigan Municipal Income Fund (FMHTX) 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 FMHTX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FMHTX
FMHTX charges 0.48% annually. There are 130 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 | FMHTX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FMHTX vs VTMFX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FMHTX vs FHMIX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FMHTX vs NMTRX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FMHTX vs FSMUX |
Best Risk-Adjusted Alternatives to FMHTX
FMHTX has a PortfoliosLab risk / return rank of 72. There are 222 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 | FMHTX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | FMHTX vs ATOIX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FMHTX vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FMHTX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FMHTX vs DFSMX |
Top Performing FMHTX Alternatives (YTD)
FMHTX is at 1.47% YTD. There are 273 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 13.22%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 13.22% | — | Apr 1998 | FMHTX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 9.70% | — | Nov 2002 | FMHTX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 7.62% | — | Nov 2001 | FMHTX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 6.57% | — | Oct 1992 | FMHTX vs MIY | |
| Nuveen Virginia Quality Municipal Income Fund | 6.33% | — | Mar 1993 | FMHTX vs NPV |
Lowest Volatility Alternatives to FMHTX
FMHTX has 2.59% 1-year volatility. There are 223 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 | FMHTX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FMHTX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FMHTX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.60% | — | May 2016 | FMHTX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FMHTX vs DFSMX |
Lowest Drawdown Alternatives to FMHTX
FMHTX has a 1-year max drawdown of -2.71%. There are 206 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 | FMHTX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FMHTX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FMHTX vs APUSX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FMHTX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FMHTX 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 | 65 | 9.79% | — | Feb 1988 | FMHTX vs FXAIX | |
| Fidelity Select Semiconductors Portfolio | Semiconductors, Technology Equities | 96 | 89.12% | — | Jul 1985 | FMHTX vs FSELX | |
| Fidelity ZERO Total Market Index Fund | Large Cap Blend Equities | 65 | 10.41% | — | — | FMHTX vs FZROX | |
| Fidelity Total Market Index Fund | Large Cap Blend Equities | 64 | 10.43% | — | — | FMHTX vs FSKAX | |
| Fidelity Large Cap Growth Index Fund | Large Cap Growth Equities | 21 | 3.18% | — | — | FMHTX vs FSPGX | |
| Fidelity Blue Chip Growth Fund | Large Cap Growth Equities | 68 | 16.84% | — | Dec 1987 | FMHTX vs FBGRX | |
| Fidelity Contrafund | Large Cap Growth Equities | 37 | 8.62% | 176.32B | May 1967 | FMHTX vs FCNTX | |
| Fidelity ZERO Large Cap Index Fund | Large Cap Blend Equities | 62 | 9.63% | — | — | FMHTX vs FNILX | |
| Fidelity International Index Fund | Foreign Large Cap Equities | 39 | 10.74% | — | Nov 1997 | FMHTX vs FSPSX | |
| Fidelity Total International Index Fund | Foreign Large Cap Equities | 66 | 15.70% | — | Jun 2016 | FMHTX vs FTIHX |
Often Compared With FMHTX
Investors most often compare FMHTX with SGOV, FXNAX, SCHZ. These 15 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare FMHTX with Any Fund or Stock
Compare FMHTX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FMHTX with funds that move differently
Fidelity Michigan Municipal Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FMHTX.
Explore FMHTX Diversifiers