ETIIX vs. FSMUX
ETIIX (Parametric TABS Intermediate-Term Municipal Bond Fund) and FSMUX (Strategic Advisers Municipal Bond Fund) are both Municipal Bonds funds. Over the past 5 years, ETIIX returned 1.14%/yr vs 0.14%/yr for FSMUX. Their correlation of 0.86 means they have usually moved in the same direction. ETIIX charges 0.53%/yr vs 0.06%/yr for FSMUX.
Performance
ETIIX vs. FSMUX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETIIX achieves a -0.20% return, which is significantly lower than FSMUX's 0.31% return.
ETIIX
- 1D
- -0.25%
- 1M
- -2.15%
- 6M
- -0.98%
- YTD
- -0.20%
- 1Y
- 4.43%
- 3Y*
- 3.41%
- 5Y*
- 1.14%
- 10Y*
- 2.00%
- ALL TIME*
- 2.50%
FSMUX
- 1D
- -0.23%
- 1M
- -1.91%
- 6M
- -0.02%
- YTD
- 0.31%
- 1Y
- 5.26%
- 3Y*
- 3.18%
- 5Y*
- 0.14%
- 10Y*
- —
- ALL TIME*
- 0.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ETIIX vs. FSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETIIX Parametric TABS Intermediate-Term Municipal Bond Fund | -0.20% | 6.11% | 1.33% | 6.52% | -6.62% | -0.12% |
FSMUX Strategic Advisers Municipal Bond Fund | 0.31% | 3.14% | 2.99% | 6.78% | -11.25% | 0.39% |
Correlation
The correlation between ETIIX and FSMUX is 0.80, 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. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2021 | 0.86 |
The correlation between ETIIX and FSMUX has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETIIX vs. FSMUX — Risk / Return Rank
ETIIX
FSMUX
ETIIX vs. FSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parametric TABS Intermediate-Term Municipal Bond Fund (ETIIX) and Strategic Advisers Municipal Bond Fund (FSMUX). 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.
| ETIIX | FSMUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.53 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 2.53 | -0.82 |
| Martin ratioReturn relative to average drawdown | 5.13 | 8.83 | -3.70 |
Loading charts...
Drawdowns
ETIIX vs. FSMUX - Drawdown Comparison
The maximum ETIIX drawdown since its inception was -12.72%, smaller than the maximum FSMUX drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for ETIIX and FSMUX.
Loading charts...
Drawdown Indicators
| ETIIX | FSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.72% | -16.27% | +3.55% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -2.68% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -6.39% | -5.89% | -0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -12.72% | -16.23% | +3.51% |
Max Drawdown (10Y)Largest decline over 10 years | -12.72% | — | — |
Current DrawdownCurrent decline from peak | -2.47% | -1.91% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -2.09% | -5.30% | +3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.75% | +0.28% |
Volatility
ETIIX vs. FSMUX - Volatility Comparison
Parametric TABS Intermediate-Term Municipal Bond Fund (ETIIX) has a higher volatility of 1.02% compared to Strategic Advisers Municipal Bond Fund (FSMUX) at 0.94%. This indicates that ETIIX's price experiences larger fluctuations and is considered to be riskier than FSMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ETIIX | FSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.94% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 2.27% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 3.17% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.19% | 4.65% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.08% | 4.59% | -0.51% |
ETIIX vs. FSMUX - Expense Ratio Comparison
ETIIX has a 0.53% expense ratio, which is higher than FSMUX's 0.06% expense ratio.
Dividends
ETIIX vs. FSMUX - Dividend Comparison
ETIIX's dividend yield for the trailing twelve months is around 3.20%, more than FSMUX's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETIIX Parametric TABS Intermediate-Term Municipal Bond Fund | 3.20% | 4.26% | 3.91% | 2.41% | 2.10% | 1.68% | 2.65% | 2.69% | 2.17% | 2.06% | 1.96% | 1.86% |
FSMUX Strategic Advisers Municipal Bond Fund | 2.71% | 3.26% | 3.74% | 3.18% | 2.14% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETIIX and FSMUX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETIIX has higher volatility (1.02%) compared to FSMUX (0.94%). In terms of maximum drawdown, ETIIX dropped -12.72% vs FSMUX's -16.27%.
FSMUX currently has the higher Sharpe Ratio (2.14 vs 1.92), 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.
Find the right allocation for ETIIX and FSMUX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer