FCTFX vs. PWZ
Compare and contrast key facts about Fidelity California Municipal Income Fund (FCTFX) and Invesco California AMT-Free Municipal Bond ETF (PWZ).
FCTFX is managed by Fidelity. It was launched on Jul 7, 1984. PWZ is a passively managed fund by Invesco that tracks the performance of the ICE BofA California Long-Term Core Plus Muni. It was launched on Oct 11, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCTFX or PWZ.
Correlation
The correlation between FCTFX and PWZ is -0.63. 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.
Performance
FCTFX vs. PWZ - Performance Comparison
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Key characteristics
FCTFX:
1.28%
PWZ:
2.93%
FCTFX:
0.00%
PWZ:
-0.13%
FCTFX:
0.00%
PWZ:
0.00%
Returns By Period
FCTFX
N/A
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PWZ
N/A
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FCTFX vs. PWZ - Expense Ratio Comparison
FCTFX has a 0.45% expense ratio, which is higher than PWZ's 0.28% expense ratio.
Risk-Adjusted Performance
FCTFX vs. PWZ — Risk-Adjusted Performance Rank
FCTFX
PWZ
FCTFX vs. PWZ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity California Municipal Income Fund (FCTFX) and Invesco California AMT-Free Municipal Bond ETF (PWZ). 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
FCTFX vs. PWZ - Dividend Comparison
FCTFX's dividend yield for the trailing twelve months is around 2.66%, less than PWZ's 3.48% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCTFX Fidelity California Municipal Income Fund | 2.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PWZ Invesco California AMT-Free Municipal Bond ETF | 3.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FCTFX vs. PWZ - Drawdown Comparison
The maximum FCTFX drawdown since its inception was 0.00%, smaller than the maximum PWZ drawdown of -0.13%. Use the drawdown chart below to compare losses from any high point for FCTFX and PWZ. For additional features, visit the drawdowns tool.
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Volatility
FCTFX vs. PWZ - Volatility Comparison
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