FCMAX vs. FNILX
Compare and contrast key facts about Fidelity Advisor California Municipal Income Fund Class A (FCMAX) and Fidelity ZERO Large Cap Index Fund (FNILX).
FCMAX is managed by Fidelity. It was launched on Aug 1, 2002. FNILX is managed by Fidelity.
Performance
FCMAX vs. FNILX - Performance Comparison
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FCMAX vs. FNILX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 1.50% |
FNILX Fidelity ZERO Large Cap Index Fund | -7.30% | 17.81% | 25.47% | 27.45% | -19.37% | 26.67% | 21.13% | 31.79% | -13.60% |
Returns By Period
In the year-to-date period, FCMAX achieves a -1.12% return, which is significantly higher than FNILX's -7.30% 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%
FNILX
- 1D
- -0.35%
- 1M
- -7.60%
- YTD
- -7.30%
- 6M
- -5.00%
- 1Y
- 14.41%
- 3Y*
- 17.43%
- 5Y*
- 11.17%
- 10Y*
- —
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FCMAX vs. FNILX - Expense Ratio Comparison
FCMAX has a 0.79% expense ratio, which is higher than FNILX's 0.00% expense ratio.
Return for Risk
FCMAX vs. FNILX — Risk / Return Rank
FCMAX
FNILX
FCMAX vs. FNILX - 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 ZERO Large Cap Index Fund (FNILX). 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 | FNILX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 0.83 | +0.14 |
Sortino ratioReturn per unit of downside risk | 1.29 | 1.28 | +0.01 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.20 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.04 | -0.05 |
Martin ratioReturn relative to average drawdown | 3.57 | 5.01 | -1.44 |
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 | FNILX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 0.83 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.65 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.64 | -0.04 |
Correlation
The correlation between FCMAX and FNILX 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. FNILX - Dividend Comparison
FCMAX's dividend yield for the trailing twelve months is around 2.68%, more than FNILX's 1.09% 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% |
FNILX Fidelity ZERO Large Cap Index Fund | 1.09% | 1.01% | 1.09% | 1.34% | 1.53% | 0.95% | 1.20% | 1.17% | 0.53% | 0.00% | 0.00% | 0.00% |
Drawdowns
FCMAX vs. FNILX - Drawdown Comparison
The maximum FCMAX drawdown since its inception was -16.96%, smaller than the maximum FNILX drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FCMAX and FNILX.
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Drawdown Indicators
| FCMAX | FNILX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.96% | -33.76% | +16.80% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -12.18% | +7.18% |
Max Drawdown (5Y)Largest decline over 5 years | -14.38% | -25.40% | +11.02% |
Max Drawdown (10Y)Largest decline over 10 years | -14.38% | — | — |
Current DrawdownCurrent decline from peak | -3.25% | -9.01% | +5.76% |
Average DrawdownAverage peak-to-trough decline | -3.09% | -5.47% | +2.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 2.54% | -1.14% |
Volatility
FCMAX vs. FNILX - Volatility Comparison
The current volatility for Fidelity Advisor California Municipal Income Fund Class A (FCMAX) is 1.19%, while Fidelity ZERO Large Cap Index Fund (FNILX) has a volatility of 4.23%. This indicates that FCMAX experiences smaller price fluctuations and is considered to be less risky than FNILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCMAX | FNILX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 4.23% | -3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 9.14% | -7.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.95% | 18.26% | -13.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 17.22% | -13.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.02% | 20.17% | -16.15% |