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DRTAX vs. FDMMX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

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.


-0.50.00.51.00.8

Performance

DRTAX vs. FDMMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Municipal Bond Fund (DRTAX) and Fidelity Massachusetts Municipal Income Fund (FDMMX). The values are adjusted to include any dividend payments, if applicable.

-0.50%0.00%0.50%1.00%1.50%2.00%2.50%3.00%JulyAugustSeptemberOctoberNovemberDecember0
0.58%
DRTAX
FDMMX

Key characteristics

Returns By Period


DRTAX

YTD

N/A

1M

N/A

6M

N/A

1Y

N/A

5Y*

N/A

10Y*

N/A

FDMMX

YTD

0.87%

1M

-0.96%

6M

0.58%

1Y

1.05%

5Y*

0.39%

10Y*

1.62%

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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.


DRTAX
BNY Mellon Municipal Bond Fund
Expense ratio chart for DRTAX: current value at 0.73% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.73%
Expense ratio chart for FDMMX: current value at 0.45% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.45%

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.


Sharpe ratio
The chart of Sharpe ratio for DRTAX, currently valued at 0.32, compared to the broader market-1.000.001.002.003.004.000.320.28
The chart of Sortino ratio for DRTAX, currently valued at 0.47, compared to the broader market-2.000.002.004.006.008.0010.000.470.39
The chart of Omega ratio for DRTAX, currently valued at 1.15, compared to the broader market0.501.001.502.002.503.003.501.151.06
The chart of Calmar ratio for DRTAX, currently valued at 0.07, compared to the broader market0.002.004.006.008.0010.0012.000.070.14
The chart of Martin ratio for DRTAX, currently valued at 1.27, compared to the broader market0.0020.0040.0060.001.270.92
DRTAX
FDMMX


Rolling 12-month Sharpe Ratio0.001.002.003.004.00JulyAugustSeptemberOctoberNovemberDecember
0.32
0.28
DRTAX
FDMMX

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 2.46%.


TTM20232022202120202019201820172016201520142013
DRTAX
BNY Mellon Municipal Bond Fund
0.94%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
2.46%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


-5.00%-4.50%-4.00%-3.50%-3.00%-2.50%-2.00%-1.50%JulyAugustSeptemberOctoberNovemberDecember
-4.56%
-3.95%
DRTAX
FDMMX

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 1.18%. 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.


0.00%0.50%1.00%1.50%JulyAugustSeptemberOctoberNovemberDecember0
1.18%
DRTAX
FDMMX
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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