FCMTX vs. VMFXX
Compare and contrast key facts about Fidelity Advisor California Municipal Income Fund Class M (FCMTX) and Vanguard Federal Money Market Fund (VMFXX).
FCMTX is managed by Fidelity. It was launched on Aug 1, 2002. VMFXX is managed by Vanguard. It was launched on Sep 1, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCMTX or VMFXX.
Performance
FCMTX vs. VMFXX - Performance Comparison
Returns By Period
In the year-to-date period, FCMTX achieves a 1.97% return, which is significantly lower than VMFXX's 4.46% return. Over the past 10 years, FCMTX has outperformed VMFXX with an annualized return of 1.92%, while VMFXX has yielded a comparatively lower 1.57% annualized return.
FCMTX
1.97%
-0.59%
2.23%
6.60%
0.75%
1.92%
VMFXX
4.46%
0.41%
2.64%
5.39%
2.34%
1.57%
Key characteristics
| FCMTX | VMFXX | |
|---|---|---|
| Sharpe Ratio | 1.84 | 3.63 |
| Ulcer Index | 0.90% | 0.00% |
| Daily Std Dev | 3.39% | 1.48% |
| Max Drawdown | -13.97% | 0.00% |
| Current Drawdown | -2.42% | 0.00% |
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FCMTX vs. VMFXX - Expense Ratio Comparison
FCMTX has a 0.70% expense ratio, which is higher than VMFXX's 0.00% expense ratio.
Correlation
The correlation between FCMTX and VMFXX is 0.14, 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.
Risk-Adjusted Performance
FCMTX vs. VMFXX - Risk-Adjusted Performance Comparison
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.
Dividends
FCMTX vs. VMFXX - Dividend Comparison
FCMTX's dividend yield for the trailing twelve months is around 2.55%, less than VMFXX's 5.24% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCMTX Fidelity Advisor California Municipal Income Fund Class M | 2.55% | 2.43% | 2.27% | 1.95% | 2.19% | 2.42% | 2.74% | 2.70% | 2.92% | 3.02% | 3.26% | 3.56% |
VMFXX Vanguard Federal Money Market Fund | 5.24% | 4.97% | 1.54% | 0.01% | 0.45% | 2.12% | 1.61% | 0.50% | 0.00% | 0.00% | 0.00% | 0.01% |
Drawdowns
FCMTX vs. VMFXX - Drawdown Comparison
The maximum FCMTX drawdown since its inception was -13.97%, 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.
Volatility
FCMTX vs. VMFXX - Volatility Comparison
Fidelity Advisor California Municipal Income Fund Class M (FCMTX) has a higher volatility of 1.85% compared to Vanguard Federal Money Market Fund (VMFXX) at 0.41%. 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.