FCMTX vs. VMFXX

In the year-to-date period, FCMTX achieves a -1.36% return, which is significantly lower than VMFXX's 0.69% return. Over the past 10 years, FCMTX has outperformed VMFXX with an annualized return of 1.82%, while VMFXX has yielded a comparatively lower 1.72% annualized return.

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FCMTX has a 0.70% expense ratio, which is higher than VMFXX's 0.00% expense ratio.

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor California Municipal Income Fund Class M (FCMTX) and Vanguard Federal Money Market Fund (VMFXX). 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.

The current FCMTX Sharpe Ratio is 0.11, which is lower than the VMFXX Sharpe Ratio of 3.28. The chart below compares the historical Sharpe Ratios of FCMTX and VMFXX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

FCMTX's dividend yield for the trailing twelve months is around 2.67%, less than VMFXX's 4.76% yield.

The maximum FCMTX drawdown since its inception was -13.70%, which is greater than VMFXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FCMTX and VMFXX. For additional features, visit the drawdowns tool.

Fidelity Advisor California Municipal Income Fund Class M (FCMTX) has a higher volatility of 1.31% compared to Vanguard Federal Money Market Fund (VMFXX) at 0.00%. This indicates that FCMTX's price experiences larger fluctuations and is considered to be riskier than VMFXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.