FDMMX vs. AGG
Compare and contrast key facts about Fidelity Massachusetts Municipal Income Fund (FDMMX) and iShares Core U.S. Aggregate Bond ETF (AGG).
FDMMX is managed by Fidelity. It was launched on Nov 10, 1983. AGG is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Aggregate Bond Index. It was launched on Sep 22, 2003.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FDMMX or AGG.
Key characteristics
| FDMMX | AGG | |
|---|---|---|
| YTD Return | 2.64% | 5.19% |
| 1Y Return | 7.64% | 10.75% |
| 3Y Return (Ann) | -0.42% | -1.46% |
| 5Y Return (Ann) | 1.04% | 0.48% |
| 10Y Return (Ann) | 2.25% | 1.93% |
| Sharpe Ratio | 2.66 | 1.60 |
| Daily Std Dev | 3.50% | 6.52% |
| Max Drawdown | -15.43% | -18.43% |
| Current Drawdown | -1.81% | -5.45% |
Correlation
The correlation between FDMMX and AGG is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FDMMX vs. AGG - Performance Comparison
In the year-to-date period, FDMMX achieves a 2.64% return, which is significantly lower than AGG's 5.19% return. Over the past 10 years, FDMMX has outperformed AGG with an annualized return of 2.25%, while AGG has yielded a comparatively lower 1.93% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FDMMX vs. AGG - Expense Ratio Comparison
FDMMX has a 0.45% expense ratio, which is higher than AGG's 0.05% expense ratio.
Risk-Adjusted Performance
FDMMX vs. AGG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Massachusetts Municipal Income Fund (FDMMX) and iShares Core U.S. Aggregate Bond ETF (AGG). 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
FDMMX vs. AGG - Dividend Comparison
FDMMX's dividend yield for the trailing twelve months is around 2.60%, less than AGG's 3.42% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDMMX Fidelity Massachusetts Municipal Income Fund | 2.60% | 2.43% | 2.16% | 2.64% | 2.40% | 2.62% | 3.14% | 2.99% | 4.29% | 3.46% | 3.43% | 3.97% |
AGG iShares Core U.S. Aggregate Bond ETF | 3.42% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.96% | 2.32% | 2.39% | 2.45% | 2.40% | 2.32% |
Drawdowns
FDMMX vs. AGG - Drawdown Comparison
The maximum FDMMX drawdown since its inception was -15.43%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for FDMMX and AGG. For additional features, visit the drawdowns tool.
Volatility
FDMMX vs. AGG - Volatility Comparison
The current volatility for Fidelity Massachusetts Municipal Income Fund (FDMMX) is 0.35%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.26%. This indicates that FDMMX experiences smaller price fluctuations and is considered to be less risky than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.