Correlation
The correlation between FCSTX and FCTFX is -0.07. 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.
FCSTX vs. FCTFX
Compare and contrast key facts about Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) and Fidelity California Municipal Income Fund (FCTFX).
FCSTX is managed by Fidelity. It was launched on Oct 25, 2005. FCTFX is managed by Fidelity. It was launched on Jul 7, 1984.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCSTX or FCTFX.
Performance
FCSTX vs. FCTFX - Performance Comparison
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Key characteristics
FCSTX:
1.49
FCTFX:
0.32
FCSTX:
1.96
FCTFX:
0.40
FCSTX:
1.36
FCTFX:
1.07
FCSTX:
1.57
FCTFX:
0.26
FCSTX:
5.71
FCTFX:
0.82
FCSTX:
0.65%
FCTFX:
1.87%
FCSTX:
2.54%
FCTFX:
5.51%
FCSTX:
-7.51%
FCTFX:
-19.94%
FCSTX:
-0.40%
FCTFX:
-3.44%
Returns By Period
In the year-to-date period, FCSTX achieves a 0.89% return, which is significantly higher than FCTFX's -1.62% return. Over the past 10 years, FCSTX has underperformed FCTFX with an annualized return of 1.36%, while FCTFX has yielded a comparatively higher 2.10% annualized return.
FCSTX
0.89%
0.49%
0.21%
3.82%
1.98%
0.74%
1.36%
FCTFX
-1.62%
-0.50%
-3.20%
1.79%
1.84%
0.58%
2.10%
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FCSTX vs. FCTFX - Expense Ratio Comparison
FCSTX has a 0.47% expense ratio, which is higher than FCTFX's 0.45% expense ratio.
Risk-Adjusted Performance
FCSTX vs. FCTFX — Risk-Adjusted Performance Rank
FCSTX
FCTFX
FCSTX vs. FCTFX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) and Fidelity California Municipal Income Fund (FCTFX). 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.
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Dividends
FCSTX vs. FCTFX - Dividend Comparison
FCSTX's dividend yield for the trailing twelve months is around 1.89%, less than FCTFX's 2.69% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCSTX Fidelity California Limited Term Tax-Free Bond Fund | 1.89% | 1.99% | 1.67% | 1.35% | 1.28% | 1.70% | 1.73% | 1.71% | 1.59% | 1.74% | 1.79% | 1.89% |
FCTFX Fidelity California Municipal Income Fund | 2.69% | 2.85% | 2.67% | 2.52% | 2.65% | 2.78% | 2.83% | 3.02% | 3.53% | 3.24% | 3.31% | 3.54% |
Drawdowns
FCSTX vs. FCTFX - Drawdown Comparison
The maximum FCSTX drawdown since its inception was -7.51%, smaller than the maximum FCTFX drawdown of -19.94%. Use the drawdown chart below to compare losses from any high point for FCSTX and FCTFX.
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Volatility
FCSTX vs. FCTFX - Volatility Comparison
The current volatility for Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) is 0.33%, while Fidelity California Municipal Income Fund (FCTFX) has a volatility of 0.73%. This indicates that FCSTX experiences smaller price fluctuations and is considered to be less risky than FCTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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