FCMTX vs. FZROX
Compare and contrast key facts about Fidelity Advisor California Municipal Income Fund Class M (FCMTX) and Fidelity ZERO Total Market Index Fund (FZROX).
FCMTX is managed by Fidelity. It was launched on Aug 1, 2002. FZROX is managed by Fidelity.
Performance
FCMTX vs. FZROX - Performance Comparison
Loading graphics...
FCMTX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FCMTX Fidelity Advisor California Municipal Income Fund Class M | -0.78% | 5.40% | 1.19% | 6.01% | -9.81% | 1.18% | 4.28% | 7.29% | 0.94% |
FZROX Fidelity ZERO Total Market Index Fund | -3.98% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Returns By Period
In the year-to-date period, FCMTX achieves a -0.78% return, which is significantly higher than FZROX's -3.98% return.
FCMTX
- 1D
- 0.33%
- 1M
- -2.62%
- YTD
- -0.78%
- 6M
- 0.74%
- 1Y
- 4.01%
- 3Y*
- 2.99%
- 5Y*
- 0.63%
- 10Y*
- 1.72%
FZROX
- 1D
- 2.99%
- 1M
- -5.06%
- YTD
- -3.98%
- 6M
- -1.97%
- 1Y
- 17.77%
- 3Y*
- 17.96%
- 5Y*
- 10.74%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FCMTX vs. FZROX - Expense Ratio Comparison
FCMTX has a 0.70% expense ratio, which is higher than FZROX's 0.00% expense ratio.
Return for Risk
FCMTX vs. FZROX — Risk / Return Rank
FCMTX
FZROX
FCMTX vs. FZROX - 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 Total Market Index Fund (FZROX). 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 | FZROX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 0.98 | -0.09 |
Sortino ratioReturn per unit of downside risk | 1.20 | 1.50 | -0.30 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.51 | -0.49 |
Martin ratioReturn relative to average drawdown | 3.59 | 7.28 | -3.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| FCMTX | FZROX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.98 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.62 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.63 | -0.02 |
Correlation
The correlation between FCMTX and FZROX 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. FZROX - Dividend Comparison
FCMTX's dividend yield for the trailing twelve months is around 2.76%, more than FZROX's 1.07% 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% |
FZROX Fidelity ZERO Total Market Index Fund | 1.07% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FCMTX vs. FZROX - Drawdown Comparison
The maximum FCMTX drawdown since its inception was -16.96%, smaller than the maximum FZROX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FCMTX and FZROX.
Loading graphics...
Drawdown Indicators
| FCMTX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.96% | -34.96% | +18.00% |
Max Drawdown (1Y)Largest decline over 1 year | -5.07% | -12.44% | +7.37% |
Max Drawdown (5Y)Largest decline over 5 years | -14.21% | -25.12% | +10.91% |
Max Drawdown (10Y)Largest decline over 10 years | -14.21% | — | — |
Current DrawdownCurrent decline from peak | -3.01% | -6.16% | +3.15% |
Average DrawdownAverage peak-to-trough decline | -3.05% | -5.61% | +2.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 2.58% | -1.14% |
Volatility
FCMTX vs. FZROX - Volatility Comparison
The current volatility for Fidelity Advisor California Municipal Income Fund Class M (FCMTX) is 1.24%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 5.52%. This indicates that FCMTX experiences smaller price fluctuations and is considered to be less risky than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| FCMTX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 5.52% | -4.28% |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | 9.81% | -8.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.05% | 18.68% | -13.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.93% | 17.45% | -13.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.03% | 20.28% | -16.25% |