FCTFX vs. FHIGX
Compare and contrast key facts about Fidelity California Municipal Income Fund (FCTFX) and Fidelity Municipal Income Fund (FHIGX).
FCTFX is managed by Fidelity. It was launched on Jul 7, 1984. FHIGX is managed by Fidelity. It was launched on Dec 1, 1977.
Performance
FCTFX vs. FHIGX - Performance Comparison
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FCTFX vs. FHIGX - 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% |
FHIGX Fidelity Municipal Income Fund | -0.82% | 5.37% | 1.68% | 7.14% | -10.98% | 2.43% | 4.42% | 8.51% | 0.81% | 6.69% |
Returns By Period
In the year-to-date period, FCTFX achieves a -1.07% return, which is significantly lower than FHIGX's -0.82% return. Over the past 10 years, FCTFX has underperformed FHIGX with an annualized return of 2.02%, while FHIGX has yielded a comparatively higher 2.21% 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%
FHIGX
- 1D
- 0.25%
- 1M
- -3.03%
- YTD
- -0.82%
- 6M
- 0.87%
- 1Y
- 4.26%
- 3Y*
- 3.37%
- 5Y*
- 0.81%
- 10Y*
- 2.21%
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FCTFX vs. FHIGX - Expense Ratio Comparison
Both FCTFX and FHIGX have an expense ratio of 0.45%.
Return for Risk
FCTFX vs. FHIGX — Risk / Return Rank
FCTFX
FHIGX
FCTFX vs. FHIGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity California Municipal Income Fund (FCTFX) and Fidelity Municipal Income Fund (FHIGX). 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 | FHIGX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.04 | 1.01 | +0.02 |
Sortino ratioReturn per unit of downside risk | 1.40 | 1.36 | +0.03 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.28 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.10 | -0.02 |
Martin ratioReturn relative to average drawdown | 3.87 | 3.82 | +0.05 |
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 | FHIGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 1.01 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.20 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.52 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.87 | +0.25 |
Correlation
The correlation between FCTFX and FHIGX is 0.89, 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. FHIGX - Dividend Comparison
FCTFX's dividend yield for the trailing twelve months is around 3.01%, less than FHIGX's 3.08% 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% |
FHIGX Fidelity Municipal Income Fund | 3.08% | 4.00% | 2.98% | 2.83% | 1.81% | 2.64% | 2.79% | 3.16% | 3.66% | 4.45% | 4.88% | 3.65% |
Drawdowns
FCTFX vs. FHIGX - Drawdown Comparison
The maximum FCTFX drawdown since its inception was -23.20%, smaller than the maximum FHIGX drawdown of -32.80%. Use the drawdown chart below to compare losses from any high point for FCTFX and FHIGX.
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Drawdown Indicators
| FCTFX | FHIGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.20% | -32.80% | +9.60% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -4.84% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -14.01% | -16.18% | +2.17% |
Max Drawdown (10Y)Largest decline over 10 years | -14.01% | -16.18% | +2.17% |
Current DrawdownCurrent decline from peak | -3.26% | -3.03% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -2.44% | -4.55% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.40% | -0.01% |
Volatility
FCTFX vs. FHIGX - Volatility Comparison
Fidelity California Municipal Income Fund (FCTFX) and Fidelity Municipal Income Fund (FHIGX) have volatilities of 1.17% and 1.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCTFX | FHIGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.20% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.77% | 1.82% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.99% | 4.94% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 4.12% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.04% | 4.23% | -0.19% |