FDMMX vs. DRTAX
Compare and contrast key facts about Fidelity Massachusetts Municipal Income Fund (FDMMX) and BNY Mellon Municipal Bond Fund (DRTAX).
FDMMX is managed by Fidelity. It was launched on Nov 10, 1983. DRTAX is managed by BNY Mellon. It was launched on Oct 3, 1976.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FDMMX or DRTAX.
Key characteristics
| FDMMX | DRTAX |
|---|
Correlation
The correlation between FDMMX and DRTAX is 0.84, 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.
Performance
FDMMX vs. DRTAX - Performance Comparison
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. DRTAX - Expense Ratio Comparison
FDMMX has a 0.45% expense ratio, which is lower than DRTAX's 0.73% expense ratio.
Risk-Adjusted Performance
FDMMX vs. DRTAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Massachusetts Municipal Income Fund (FDMMX) and BNY Mellon Municipal Bond Fund (DRTAX). 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. DRTAX - Dividend Comparison
FDMMX's dividend yield for the trailing twelve months is around 2.65%, while DRTAX has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDMMX Fidelity Massachusetts Municipal Income Fund | 2.65% | 2.42% | 2.16% | 1.99% | 2.25% | 2.56% | 2.76% | 2.77% | 3.01% | 3.46% | 3.43% | 3.97% |
DRTAX BNY Mellon Municipal Bond Fund | 1.17% | 2.22% | 2.12% | 2.36% | 2.44% | 2.79% | 2.40% | 2.26% | 2.59% | 2.63% | 2.75% | 2.86% |
Drawdowns
FDMMX vs. DRTAX - Drawdown Comparison
Volatility
FDMMX vs. DRTAX - Volatility Comparison
Fidelity Massachusetts Municipal Income Fund (FDMMX) has a higher volatility of 1.63% compared to BNY Mellon Municipal Bond Fund (DRTAX) at 0.00%. This indicates that FDMMX's price experiences larger fluctuations and is considered to be riskier than DRTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.