FCMTX vs. FCNTX
Compare and contrast key facts about Fidelity Advisor California Municipal Income Fund Class M (FCMTX) and Fidelity Contrafund Fund (FCNTX).
FCMTX is managed by Fidelity. It was launched on Aug 1, 2002. FCNTX is managed by Fidelity. It was launched on May 17, 1967.
Performance
FCMTX vs. FCNTX - Performance Comparison
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FCMTX vs. FCNTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCMTX Fidelity Advisor California Municipal Income Fund Class M | -0.54% | 5.40% | 1.19% | 6.01% | -9.81% | 1.18% | 4.28% | 7.29% | 0.40% | 5.47% |
FCNTX Fidelity Contrafund Fund | -4.57% | 21.76% | 36.00% | 38.67% | -28.31% | 24.52% | 32.48% | 30.00% | -3.81% | 32.18% |
Returns By Period
In the year-to-date period, FCMTX achieves a -0.54% return, which is significantly higher than FCNTX's -4.57% return. Over the past 10 years, FCMTX has underperformed FCNTX with an annualized return of 1.75%, while FCNTX has yielded a comparatively higher 16.13% annualized return.
FCMTX
- 1D
- 0.24%
- 1M
- -1.84%
- YTD
- -0.54%
- 6M
- 0.99%
- 1Y
- 4.26%
- 3Y*
- 3.07%
- 5Y*
- 0.68%
- 10Y*
- 1.75%
FCNTX
- 1D
- 0.83%
- 1M
- -4.06%
- YTD
- -4.57%
- 6M
- -2.11%
- 1Y
- 19.45%
- 3Y*
- 25.26%
- 5Y*
- 13.40%
- 10Y*
- 16.13%
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FCMTX vs. FCNTX - Expense Ratio Comparison
FCMTX has a 0.70% expense ratio, which is higher than FCNTX's 0.39% expense ratio.
Return for Risk
FCMTX vs. FCNTX — Risk / Return Rank
FCMTX
FCNTX
FCMTX vs. FCNTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor California Municipal Income Fund Class M (FCMTX) and Fidelity Contrafund Fund (FCNTX). 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.
| FCMTX | FCNTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.86 | 1.02 | -0.16 |
Sortino ratioReturn per unit of downside risk | 1.15 | 1.56 | -0.41 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.93 | 1.87 | -0.94 |
Martin ratioReturn relative to average drawdown | 3.23 | 7.08 | -3.84 |
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
| FCMTX | FCNTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 1.02 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.70 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.82 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.76 | -0.16 |
Correlation
The correlation between FCMTX and FCNTX is -0.08. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
FCMTX vs. FCNTX - Dividend Comparison
FCMTX's dividend yield for the trailing twelve months is around 2.76%, less than FCNTX's 4.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCMTX Fidelity Advisor California Municipal Income Fund Class M | 2.76% | 3.55% | 2.17% | 2.22% | 1.50% | 2.07% | 2.52% | 2.54% | 2.73% | 3.21% | 3.17% | 2.78% |
FCNTX Fidelity Contrafund Fund | 4.89% | 5.21% | 4.19% | 3.78% | 11.87% | 10.80% | 8.01% | 4.16% | 7.46% | 6.08% | 3.81% | 5.33% |
Drawdowns
FCMTX vs. FCNTX - Drawdown Comparison
The maximum FCMTX drawdown since its inception was -16.96%, smaller than the maximum FCNTX drawdown of -49.19%. Use the drawdown chart below to compare losses from any high point for FCMTX and FCNTX.
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Drawdown Indicators
| FCMTX | FCNTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.96% | -49.19% | +32.23% |
Max Drawdown (1Y)Largest decline over 1 year | -5.07% | -11.30% | +6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -14.21% | -32.59% | +18.38% |
Max Drawdown (10Y)Largest decline over 10 years | -14.21% | -32.59% | +18.38% |
Current DrawdownCurrent decline from peak | -2.77% | -7.42% | +4.65% |
Average DrawdownAverage peak-to-trough decline | -3.05% | -8.18% | +5.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.98% | -1.53% |
Volatility
FCMTX vs. FCNTX - Volatility Comparison
The current volatility for Fidelity Advisor California Municipal Income Fund Class M (FCMTX) is 1.21%, while Fidelity Contrafund Fund (FCNTX) has a volatility of 6.55%. This indicates that FCMTX experiences smaller price fluctuations and is considered to be less risky than FCNTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCMTX | FCNTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 6.55% | -5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 11.15% | -9.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 19.97% | -14.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.93% | 19.17% | -15.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.03% | 19.64% | -15.61% |