FCMTX vs. FNILX
Compare and contrast key facts about Fidelity Advisor California Municipal Income Fund Class M (FCMTX) and Fidelity ZERO Large Cap Index Fund (FNILX).
FCMTX is managed by Fidelity. It was launched on Aug 1, 2002. FNILX is managed by Fidelity.
Performance
FCMTX vs. FNILX - Performance Comparison
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FCMTX vs. FNILX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FCMTX Fidelity Advisor California Municipal Income Fund Class M | -1.10% | 5.40% | 1.19% | 6.01% | -9.81% | 1.18% | 4.28% | 7.29% | 1.51% |
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, FCMTX achieves a -1.10% return, which is significantly higher than FNILX's -7.30% return.
FCMTX
- 1D
- 0.16%
- 1M
- -3.32%
- YTD
- -1.10%
- 6M
- 0.49%
- 1Y
- 4.10%
- 3Y*
- 2.87%
- 5Y*
- 0.58%
- 10Y*
- 1.69%
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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FCMTX vs. FNILX - Expense Ratio Comparison
FCMTX has a 0.70% expense ratio, which is higher than FNILX's 0.00% expense ratio.
Return for Risk
FCMTX vs. FNILX — Risk / Return Rank
FCMTX
FNILX
FCMTX vs. FNILX - 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 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.
| FCMTX | FNILX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 0.83 | +0.14 |
Sortino ratioReturn per unit of downside risk | 1.30 | 1.28 | +0.02 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.20 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.01 | 1.04 | -0.04 |
Martin ratioReturn relative to average drawdown | 3.56 | 5.01 | -1.45 |
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 | 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 | 0.15 | 0.65 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.64 | -0.03 |
Correlation
The correlation between FCMTX 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
FCMTX vs. FNILX - Dividend Comparison
FCMTX's dividend yield for the trailing twelve months is around 2.77%, more than FNILX's 1.09% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCMTX Fidelity Advisor California Municipal Income Fund Class M | 2.77% | 3.55% | 2.17% | 2.22% | 1.50% | 2.07% | 2.52% | 2.54% | 2.73% | 3.21% | 3.17% | 2.78% |
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
FCMTX vs. FNILX - Drawdown Comparison
The maximum FCMTX 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 FCMTX and FNILX.
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Drawdown Indicators
| FCMTX | FNILX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.96% | -33.76% | +16.80% |
Max Drawdown (1Y)Largest decline over 1 year | -5.07% | -12.18% | +7.11% |
Max Drawdown (5Y)Largest decline over 5 years | -14.21% | -25.40% | +11.19% |
Max Drawdown (10Y)Largest decline over 10 years | -14.21% | — | — |
Current DrawdownCurrent decline from peak | -3.32% | -9.01% | +5.69% |
Average DrawdownAverage peak-to-trough decline | -3.05% | -5.47% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 2.54% | -1.11% |
Volatility
FCMTX vs. FNILX - Volatility Comparison
The current volatility for Fidelity Advisor California Municipal Income Fund Class M (FCMTX) is 1.18%, while Fidelity ZERO Large Cap Index Fund (FNILX) has a volatility of 4.23%. This indicates that FCMTX 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
| FCMTX | FNILX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 4.23% | -3.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 9.14% | -7.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.05% | 18.26% | -13.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.93% | 17.22% | -13.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.03% | 20.17% | -16.14% |