CTLAX vs. FMUAX

Last updated Aug 4, 2026

CTLAX (American Funds College 2033 Fund) and FMUAX (Federated Hermes Municipal and Stock Advantage Fund) are both Diversified Portfolio funds. Over the past 10 years, CTLAX returned 8.26%/yr vs 6.02%/yr for FMUAX. Their correlation of 0.86 means they have usually moved in the same direction. CTLAX charges 0.42%/yr vs 1.00%/yr for FMUAX.

Performance

CTLAX vs. FMUAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds College 2033 Fund (CTLAX) and Federated Hermes Municipal and Stock Advantage Fund (FMUAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTLAX achieves a 4.48% return, which is significantly lower than FMUAX's 5.90% return. Over the past 10 years, CTLAX has outperformed FMUAX with an annualized return of 8.26%, while FMUAX has yielded a comparatively lower 6.02% annualized return.

CTLAX

• 1D: 0.00%
• 1M: -0.29%
• 6M: 2.68%
• YTD: 4.48%
• 1Y: 10.45%
• 3Y*: 11.29%
• 5Y*: 5.47%
• 10Y*: 8.26%
• ALL TIME*: 7.32%

FMUAX

• 1D: 0.24%
• 1M: -0.45%
• 6M: 4.04%
• YTD: 5.90%
• 1Y: 13.24%
• 3Y*: 9.24%
• 5Y*: 4.68%
• 10Y*: 6.02%
• ALL TIME*: 6.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CTLAX American Funds College 2033 Fund	$0.00	$0.00	$0.00
FMUAX Federated Hermes Municipal and Stock Advantage Fund	$0.00	$0.00	$0.00

CTLAX vs. FMUAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CTLAX American Funds College 2033 Fund	4.48%	13.98%	10.56%	13.56%	-15.16%	10.61%	15.49%	19.46%	-5.83%	19.33%
FMUAX Federated Hermes Municipal and Stock Advantage Fund	5.90%	9.00%	8.70%	9.81%	-10.68%	10.32%	8.48%	15.16%	-5.24%	11.09%

Correlation

The correlation between CTLAX and FMUAX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Mar 27, 2015	0.86

The correlation between CTLAX and FMUAX shifts across timeframes, from 0.75 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CTLAX vs. FMUAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CTLAX

CTLAX Risk / Return Rank: 62
CTLAX Sharpe Ratio Rank: 66
CTLAX Sortino Ratio Rank: 67
CTLAX Omega Ratio Rank: 68
CTLAX Calmar Ratio Rank: 47
CTLAX Martin Ratio Rank: 61

FMUAX

FMUAX Risk / Return Rank: 92
FMUAX Sharpe Ratio Rank: 94
FMUAX Sortino Ratio Rank: 94
FMUAX Omega Ratio Rank: 89
FMUAX Calmar Ratio Rank: 88
FMUAX Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CTLAX vs. FMUAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds College 2033 Fund (CTLAX) and Federated Hermes Municipal and Stock Advantage Fund (FMUAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CTLAX	FMUAX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.52	-0.84
Sortino ratio: Return per unit of downside risk	2.43	3.84	-1.41
Omega ratio: Gain probability vs. loss probability	1.32	1.47	-0.15
Calmar ratio: Return relative to maximum drawdown	1.96	3.26	-1.29
Martin ratio: Return relative to average drawdown	8.49	15.48	-6.99

CTLAX vs. FMUAX - Sharpe Ratio Comparison

The current CTLAX Sharpe Ratio is 1.68, which is lower than the FMUAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of CTLAX and FMUAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CTLAX vs. FMUAX - Drawdown Comparison

The maximum CTLAX drawdown since its inception was -21.42%, roughly equal to the maximum FMUAX drawdown of -22.43%. Use the drawdown chart below to compare losses from any high point for CTLAX and FMUAX.

Drawdown Indicators

	CTLAX	FMUAX	Difference
Max Drawdown Largest peak-to-trough decline	-21.42%	-22.43%	+1.01%
Max Drawdown (1Y) Largest decline over 1 year	-5.22%	-4.94%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	-7.00%	-10.18%	+3.18%
Max Drawdown (5Y) Largest decline over 5 years	-21.42%	-15.93%	-5.49%
Max Drawdown (10Y) Largest decline over 10 years	-21.42%	-21.46%	+0.04%
Current Drawdown Current decline from peak	-0.51%	-0.69%	+0.18%
Average Drawdown Average peak-to-trough decline	-4.08%	-2.74%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.21%	0.97%	+0.24%

Volatility

CTLAX vs. FMUAX - Volatility Comparison

The current volatility for American Funds College 2033 Fund (CTLAX) is 1.36%, while Federated Hermes Municipal and Stock Advantage Fund (FMUAX) has a volatility of 1.68%. This indicates that CTLAX experiences smaller price fluctuations and is considered to be less risky than FMUAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTLAX	FMUAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.68%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	4.89%	4.94%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	6.09%	6.38%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.79%	7.20%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.95%	8.14%	+1.81%

CTLAX vs. FMUAX - Expense Ratio Comparison

CTLAX has a 0.42% expense ratio, which is lower than FMUAX's 1.00% expense ratio.

Dividends

CTLAX vs. FMUAX - Dividend Comparison

CTLAX's dividend yield for the trailing twelve months is around 7.08%, more than FMUAX's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTLAX American Funds College 2033 Fund	7.08%	7.40%	3.80%	2.43%	4.56%	11.46%	6.06%	4.75%	4.36%	2.19%	2.26%	0.00%
FMUAX Federated Hermes Municipal and Stock Advantage Fund	1.30%	1.23%	2.01%	2.53%	2.25%	4.56%	2.12%	4.00%	7.98%	2.17%	2.36%	2.80%

Frequently Asked Questions

Can I hold both CTLAX and FMUAX in my portfolio?

CTLAX and FMUAX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTLAX or FMUAX?

FMUAX has higher volatility (1.68%) compared to CTLAX (1.36%). In terms of maximum drawdown, CTLAX dropped -21.42% vs FMUAX's -22.43%.

Which has better risk-adjusted returns?

FMUAX currently has the higher Sharpe Ratio (2.52 vs 1.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.