DRTAX vs. FDMMX
Compare and contrast key facts about BNY Mellon Municipal Bond Fund (DRTAX) and Fidelity Massachusetts Municipal Income Fund (FDMMX).
DRTAX is managed by BNY Mellon. It was launched on Oct 3, 1976. FDMMX is managed by Fidelity. It was launched on Nov 10, 1983.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DRTAX or FDMMX.
Key characteristics
| DRTAX | FDMMX |
|---|
Correlation
The correlation between DRTAX and FDMMX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
DRTAX vs. FDMMX - Performance Comparison
The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DRTAX vs. FDMMX - Expense Ratio Comparison
DRTAX has a 0.73% expense ratio, which is higher than FDMMX's 0.45% expense ratio.
Risk-Adjusted Performance
DRTAX vs. FDMMX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Bond Fund (DRTAX) and Fidelity Massachusetts Municipal Income Fund (FDMMX). 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.
Dividends
DRTAX vs. FDMMX - Dividend Comparison
DRTAX has not paid dividends to shareholders, while FDMMX's dividend yield for the trailing twelve months is around 2.65%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRTAX BNY Mellon Municipal Bond Fund | 1.17% | 2.22% | 2.12% | 2.36% | 2.44% | 2.79% | 2.40% | 2.26% | 2.59% | 2.63% | 2.75% | 2.86% |
FDMMX Fidelity Massachusetts Municipal Income Fund | 2.65% | 2.42% | 2.16% | 1.99% | 2.25% | 2.56% | 2.76% | 2.77% | 3.01% | 3.46% | 3.43% | 3.97% |
Drawdowns
DRTAX vs. FDMMX - Drawdown Comparison
Volatility
DRTAX vs. FDMMX - Volatility Comparison
The current volatility for BNY Mellon Municipal Bond Fund (DRTAX) is 0.00%, while Fidelity Massachusetts Municipal Income Fund (FDMMX) has a volatility of 1.10%. This indicates that DRTAX experiences smaller price fluctuations and is considered to be less risky than FDMMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.