FCTFX vs. FCSTX
Compare and contrast key facts about Fidelity California Municipal Income Fund (FCTFX) and Fidelity California Limited Term Tax-Free Bond Fund (FCSTX).
FCTFX is managed by Fidelity. It was launched on Jul 7, 1984. FCSTX is managed by Fidelity. It was launched on Oct 25, 2005.
Performance
FCTFX vs. FCSTX - Performance Comparison
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FCTFX vs. FCSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCTFX Fidelity California Municipal Income Fund | -1.07% | 5.75% | 1.89% | 6.53% | -9.64% | 1.39% | 4.50% | 7.63% | 0.68% | 5.81% |
FCSTX Fidelity California Limited Term Tax-Free Bond Fund | -0.49% | 5.23% | 1.73% | 3.53% | -4.71% | 0.20% | 2.93% | 4.07% | 1.25% | 2.27% |
Returns By Period
In the year-to-date period, FCTFX achieves a -1.07% return, which is significantly lower than FCSTX's -0.49% return. Over the past 10 years, FCTFX has outperformed FCSTX with an annualized return of 2.02%, while FCSTX has yielded a comparatively lower 1.43% annualized return.
FCTFX
- 1D
- 0.16%
- 1M
- -3.26%
- YTD
- -1.07%
- 6M
- 0.59%
- 1Y
- 4.27%
- 3Y*
- 3.38%
- 5Y*
- 0.96%
- 10Y*
- 2.02%
FCSTX
- 1D
- 0.00%
- 1M
- -1.88%
- YTD
- -0.49%
- 6M
- 0.09%
- 1Y
- 3.43%
- 3Y*
- 2.81%
- 5Y*
- 1.13%
- 10Y*
- 1.43%
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FCTFX vs. FCSTX - Expense Ratio Comparison
FCTFX has a 0.45% expense ratio, which is lower than FCSTX's 0.47% expense ratio.
Return for Risk
FCTFX vs. FCSTX — Risk / Return Rank
FCTFX
FCSTX
FCTFX vs. FCSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity California Municipal Income Fund (FCTFX) and Fidelity California Limited Term Tax-Free Bond Fund (FCSTX). 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.
| FCTFX | FCSTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.04 | 1.74 | -0.71 |
Sortino ratioReturn per unit of downside risk | 1.40 | 2.40 | -1.00 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.57 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.86 | -0.78 |
Martin ratioReturn relative to average drawdown | 3.87 | 7.27 | -3.39 |
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
| FCTFX | FCSTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 1.74 | -0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.54 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.65 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 1.23 | -0.11 |
Correlation
The correlation between FCTFX and FCSTX is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FCTFX vs. FCSTX - Dividend Comparison
FCTFX's dividend yield for the trailing twelve months is around 3.01%, more than FCSTX's 2.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCTFX Fidelity California Municipal Income Fund | 3.01% | 3.86% | 2.85% | 2.67% | 1.67% | 2.28% | 2.79% | 2.84% | 3.01% | 3.53% | 3.52% | 3.03% |
FCSTX Fidelity California Limited Term Tax-Free Bond Fund | 2.22% | 2.85% | 2.00% | 1.68% | 1.01% | 1.22% | 1.68% | 1.72% | 1.71% | 1.58% | 1.89% | 1.63% |
Drawdowns
FCTFX vs. FCSTX - Drawdown Comparison
The maximum FCTFX drawdown since its inception was -23.20%, which is greater than FCSTX's maximum drawdown of -7.58%. Use the drawdown chart below to compare losses from any high point for FCTFX and FCSTX.
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Drawdown Indicators
| FCTFX | FCSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.20% | -7.58% | -15.62% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -2.21% | -2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -14.01% | -7.58% | -6.43% |
Max Drawdown (10Y)Largest decline over 10 years | -14.01% | -7.58% | -6.43% |
Current DrawdownCurrent decline from peak | -3.26% | -1.88% | -1.38% |
Average DrawdownAverage peak-to-trough decline | -2.44% | -0.92% | -1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 0.57% | +0.82% |
Volatility
FCTFX vs. FCSTX - Volatility Comparison
Fidelity California Municipal Income Fund (FCTFX) has a higher volatility of 1.17% compared to Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) at 0.61%. This indicates that FCTFX's price experiences larger fluctuations and is considered to be riskier than FCSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCTFX | FCSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.61% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 1.77% | 1.00% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.99% | 2.31% | +2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 2.08% | +1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.04% | 2.20% | +1.84% |