DUTMX vs. FSMOX

Last updated Jun 25, 2026

DUTMX (Dupree Taxable Municipal Bond Fund) and FSMOX (Fidelity SAI Investment Grade Securitized Fund) are both Intermediate Core Bond funds. Over the past 3 years, DUTMX returned 3.31%/yr vs 4.02%/yr for FSMOX. Their correlation of 0.85 suggests significant overlap in exposure. DUTMX charges 1.00%/yr vs 0.33%/yr for FSMOX.

Performance

DUTMX vs. FSMOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dupree Taxable Municipal Bond Fund (DUTMX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUTMX achieves a 1.01% return, which is significantly higher than FSMOX's 0.67% return.

DUTMX

• 1D: 0.00%
• 1M: 1.34%
• YTD: 1.01%
• 6M: 1.15%
• 1Y: 5.29%
• 3Y*: 3.31%
• 5Y*: -2.62%
• 10Y*: 0.39%

FSMOX

• 1D: 0.00%
• 1M: 0.70%
• YTD: 0.67%
• 6M: 0.81%
• 1Y: 5.63%
• 3Y*: 4.02%
• 5Y*: —
• 10Y*: —

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

DUTMX vs. FSMOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DUTMX Dupree Taxable Municipal Bond Fund	1.01%	6.44%	1.09%	1.81%
FSMOX Fidelity SAI Investment Grade Securitized Fund	0.67%	8.52%	1.45%	1.16%

Correlation

The correlation between DUTMX and FSMOX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 17, 2023	0.85

The correlation between DUTMX and FSMOX has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

Return for Risk

DUTMX vs. FSMOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DUTMX

DUTMX Risk / Return Rank: 17
DUTMX Sharpe Ratio Rank: 17
DUTMX Sortino Ratio Rank: 18
DUTMX Omega Ratio Rank: 16
DUTMX Calmar Ratio Rank: 19
DUTMX Martin Ratio Rank: 18

FSMOX

FSMOX Risk / Return Rank: 35
FSMOX Sharpe Ratio Rank: 35
FSMOX Sortino Ratio Rank: 38
FSMOX Omega Ratio Rank: 34
FSMOX Calmar Ratio Rank: 37
FSMOX Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DUTMX vs. FSMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dupree Taxable Municipal Bond Fund (DUTMX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX). 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.

	DUTMX	FSMOX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.50	-0.49
Sortino ratio: Return per unit of downside risk	1.53	2.27	-0.75
Omega ratio: Gain probability vs. loss probability	1.18	1.27	-0.09
Calmar ratio: Return relative to maximum drawdown	1.38	2.11	-0.73
Martin ratio: Return relative to average drawdown	4.04	6.44	-2.40

DUTMX vs. FSMOX - Sharpe Ratio Comparison

The current DUTMX Sharpe Ratio is 1.01, which is lower than the FSMOX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of DUTMX and FSMOX, 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

DUTMX vs. FSMOX - Drawdown Comparison

The maximum DUTMX drawdown since its inception was -30.53%, which is greater than FSMOX's maximum drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for DUTMX and FSMOX.

Drawdown Indicators

	DUTMX	FSMOX	Difference
Max Drawdown Largest peak-to-trough decline	-30.53%	-8.65%	-21.88%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	-2.84%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-7.80%	-8.47%	+0.67%
Max Drawdown (5Y) Largest decline over 5 years	-30.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.53%	—	—
Current Drawdown Current decline from peak	-14.69%	-1.46%	-13.23%
Average Drawdown Average peak-to-trough decline	-6.97%	-1.75%	-5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	0.93%	+0.45%

Volatility

DUTMX vs. FSMOX - Volatility Comparison

Dupree Taxable Municipal Bond Fund (DUTMX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX) have volatilities of 1.19% and 1.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DUTMX	FSMOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	1.23%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.83%	2.95%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	5.56%	4.01%	+1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.81%	6.17%	+2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.08%	6.17%	+0.91%

DUTMX vs. FSMOX - Expense Ratio Comparison

DUTMX has a 1.00% expense ratio, which is higher than FSMOX's 0.33% expense ratio.

Dividends

DUTMX vs. FSMOX - Dividend Comparison

DUTMX's dividend yield for the trailing twelve months is around 4.48%, which matches FSMOX's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DUTMX Dupree Taxable Municipal Bond Fund	4.48%	4.57%	4.26%	4.02%	4.28%	2.32%	4.69%	5.18%	5.04%	4.89%	4.84%	4.77%
FSMOX Fidelity SAI Investment Grade Securitized Fund	4.47%	4.44%	5.07%	1.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DUTMX and FSMOX in my portfolio?

DUTMX and FSMOX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUTMX or FSMOX?

FSMOX has higher volatility (1.23%) compared to DUTMX (1.19%). In terms of maximum drawdown, DUTMX dropped -30.53% vs FSMOX's -8.65%.

Which has better risk-adjusted returns?

FSMOX currently has the higher Sharpe Ratio (1.50 vs 1.01), 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.