FCMAX vs. FAHDX
Compare and contrast key facts about Fidelity Advisor California Municipal Income Fund Class A (FCMAX) and Fidelity Advisor High Income Advantage Fund Class A (FAHDX).
FCMAX is managed by Fidelity. It was launched on Aug 1, 2002. FAHDX is managed by Fidelity. It was launched on Jan 5, 1987.
Performance
FCMAX vs. FAHDX - Performance Comparison
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FCMAX vs. FAHDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCMAX Fidelity Advisor California Municipal Income Fund Class A | -1.12% | 5.28% | 1.20% | 5.85% | -9.83% | 0.96% | 4.15% | 7.25% | 0.35% | 5.52% |
FAHDX Fidelity Advisor High Income Advantage Fund Class A | -0.85% | 11.79% | 9.26% | 12.00% | -11.37% | 10.78% | 8.72% | 17.39% | -5.44% | 11.40% |
Returns By Period
In the year-to-date period, FCMAX achieves a -1.12% return, which is significantly lower than FAHDX's -0.85% return. Over the past 10 years, FCMAX has underperformed FAHDX with an annualized return of 1.62%, while FAHDX has yielded a comparatively higher 7.18% annualized return.
FCMAX
- 1D
- 0.16%
- 1M
- -3.25%
- YTD
- -1.12%
- 6M
- 0.46%
- 1Y
- 4.01%
- 3Y*
- 2.78%
- 5Y*
- 0.48%
- 10Y*
- 1.62%
FAHDX
- 1D
- -0.48%
- 1M
- -2.81%
- YTD
- -0.85%
- 6M
- 0.69%
- 1Y
- 12.27%
- 3Y*
- 9.40%
- 5Y*
- 5.15%
- 10Y*
- 7.18%
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FCMAX vs. FAHDX - Expense Ratio Comparison
FCMAX has a 0.79% expense ratio, which is lower than FAHDX's 0.99% expense ratio.
Return for Risk
FCMAX vs. FAHDX — Risk / Return Rank
FCMAX
FAHDX
FCMAX vs. FAHDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor California Municipal Income Fund Class A (FCMAX) and Fidelity Advisor High Income Advantage Fund Class A (FAHDX). 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.
| FCMAX | FAHDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 1.91 | -0.95 |
Sortino ratioReturn per unit of downside risk | 1.29 | 2.62 | -1.33 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.40 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | 2.73 | -1.73 |
Martin ratioReturn relative to average drawdown | 3.57 | 11.81 | -8.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCMAX | FAHDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 1.91 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.83 | -0.70 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.95 | -0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.87 | -0.28 |
Correlation
The correlation between FCMAX and FAHDX is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FCMAX vs. FAHDX - Dividend Comparison
FCMAX's dividend yield for the trailing twelve months is around 2.68%, less than FAHDX's 4.15% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCMAX Fidelity Advisor California Municipal Income Fund Class A | 2.68% | 3.43% | 2.09% | 2.15% | 1.44% | 1.86% | 2.46% | 2.50% | 2.68% | 3.18% | 3.13% | 2.72% |
FAHDX Fidelity Advisor High Income Advantage Fund Class A | 4.15% | 4.45% | 3.95% | 4.47% | 6.87% | 4.56% | 3.47% | 4.26% | 5.72% | 4.66% | 5.28% | 4.20% |
Drawdowns
FCMAX vs. FAHDX - Drawdown Comparison
The maximum FCMAX drawdown since its inception was -16.96%, smaller than the maximum FAHDX drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for FCMAX and FAHDX.
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Drawdown Indicators
| FCMAX | FAHDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.96% | -48.43% | +31.47% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -4.30% | -0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -14.38% | -15.29% | +0.91% |
Max Drawdown (10Y)Largest decline over 10 years | -14.38% | -28.43% | +14.05% |
Current DrawdownCurrent decline from peak | -3.25% | -3.15% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -3.09% | -5.23% | +2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 0.99% | +0.41% |
Volatility
FCMAX vs. FAHDX - Volatility Comparison
The current volatility for Fidelity Advisor California Municipal Income Fund Class A (FCMAX) is 1.19%, while Fidelity Advisor High Income Advantage Fund Class A (FAHDX) has a volatility of 2.23%. This indicates that FCMAX experiences smaller price fluctuations and is considered to be less risky than FAHDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCMAX | FAHDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 2.23% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 4.10% | -2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.95% | 6.59% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 6.27% | -2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.02% | 7.61% | -3.59% |