Fidelity SAI Municipal Income Fund (FSMNX) 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 FSMNX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FSMNX
FSMNX charges 0.36% annually. There are 66 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 | FSMNX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FSMNX vs VTMFX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FSMNX vs FHMIX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FSMNX vs NMTRX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FSMNX vs FSMUX |
Best Risk-Adjusted Alternatives to FSMNX
FSMNX has a PortfoliosLab risk / return rank of 68. There are 313 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 | FSMNX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | FSMNX vs ATOIX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FSMNX vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FSMNX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FSMNX vs DFSMX |
Top Performing FSMNX Alternatives (YTD)
FSMNX is at 1.61% YTD. There are 234 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 | FSMNX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 9.70% | — | Nov 2002 | FSMNX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 7.62% | — | Nov 2001 | FSMNX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 6.57% | — | Oct 1992 | FSMNX vs MIY | |
| Nuveen Virginia Quality Municipal Income Fund | 6.33% | — | Mar 1993 | FSMNX vs NPV |
Lowest Volatility Alternatives to FSMNX
FSMNX has 2.77% 1-year volatility. There are 268 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 | FSMNX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FSMNX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FSMNX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.60% | — | May 2016 | FSMNX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FSMNX vs DFSMX |
Lowest Drawdown Alternatives to FSMNX
FSMNX has a 1-year max drawdown of -3.07%. There are 363 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 | FSMNX vs BATVX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FSMNX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FSMNX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FSMNX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FSMNX 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 | 52 | 8.21% | — | Feb 1988 | FSMNX vs FXAIX | |
| Fidelity Select Semiconductors Portfolio | Semiconductors, Technology Equities | 94 | 75.83% | — | Jul 1985 | FSMNX vs FSELX | |
| Fidelity ZERO Total Market Index Fund | Large Cap Blend Equities | 52 | 8.88% | — | — | FSMNX vs FZROX | |
| Fidelity Total Market Index Fund | Large Cap Blend Equities | 52 | 8.93% | — | — | FSMNX vs FSKAX | |
| Fidelity Large Cap Growth Index Fund | Large Cap Growth Equities | 16 | 1.51% | — | — | FSMNX vs FSPGX | |
| Fidelity Blue Chip Growth Fund | Large Cap Growth Equities | 54 | 13.83% | — | Dec 1987 | FSMNX vs FBGRX | |
| Fidelity Contrafund | Large Cap Growth Equities | 30 | 7.14% | 176.32B | May 1967 | FSMNX vs FCNTX | |
| Fidelity ZERO Large Cap Index Fund | Large Cap Blend Equities | 49 | 8.03% | — | — | FSMNX vs FNILX | |
| Fidelity International Index Fund | Foreign Large Cap Equities | 31 | 8.45% | — | Nov 1997 | FSMNX vs FSPSX | |
| Fidelity Total International Index Fund | Foreign Large Cap Equities | 49 | 12.47% | — | Jun 2016 | FSMNX vs FTIHX |
Often Compared With FSMNX
Investors most often compare FSMNX with AMHIX, FGNSX, BMN. These 20 comparison targets span 10 categories, based on PortfoliosLab usage data.
Compare FSMNX with Any Fund or Stock
Compare FSMNX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FSMNX with funds that move differently
Fidelity SAI Municipal Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FSMNX.
Explore FSMNX Diversifiers