FDMMX vs. FHIGX
Compare and contrast key facts about Fidelity Massachusetts Municipal Income Fund (FDMMX) and Fidelity Municipal Income Fund (FHIGX).
FDMMX is managed by Fidelity. It was launched on Nov 10, 1983. FHIGX is managed by Fidelity. It was launched on Dec 1, 1977.
Performance
FDMMX vs. FHIGX - Performance Comparison
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FDMMX vs. FHIGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDMMX Fidelity Massachusetts Municipal Income Fund | -0.72% | 5.24% | 1.27% | 5.76% | -9.67% | 1.11% | 4.27% | 7.09% | -0.13% | 5.48% |
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, FDMMX achieves a -0.72% return, which is significantly higher than FHIGX's -0.82% return. Over the past 10 years, FDMMX has underperformed FHIGX with an annualized return of 1.67%, while FHIGX has yielded a comparatively higher 2.21% annualized return.
FDMMX
- 1D
- 0.18%
- 1M
- -2.74%
- YTD
- -0.72%
- 6M
- 1.12%
- 1Y
- 4.06%
- 3Y*
- 3.08%
- 5Y*
- 0.62%
- 10Y*
- 1.67%
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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FDMMX vs. FHIGX - Expense Ratio Comparison
Both FDMMX and FHIGX have an expense ratio of 0.45%.
Return for Risk
FDMMX vs. FHIGX — Risk / Return Rank
FDMMX
FHIGX
FDMMX vs. FHIGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Massachusetts Municipal Income Fund (FDMMX) 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.
| FDMMX | FHIGX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.15 | 1.01 | +0.13 |
Sortino ratioReturn per unit of downside risk | 1.54 | 1.36 | +0.18 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.28 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.23 | 1.10 | +0.13 |
Martin ratioReturn relative to average drawdown | 4.44 | 3.82 | +0.62 |
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
| FDMMX | FHIGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 1.01 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.20 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.52 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 0.87 | +0.24 |
Correlation
The correlation between FDMMX and FHIGX is 0.90, 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
FDMMX vs. FHIGX - Dividend Comparison
FDMMX's dividend yield for the trailing twelve months is around 2.72%, less than FHIGX's 3.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDMMX Fidelity Massachusetts Municipal Income Fund | 2.72% | 3.54% | 2.67% | 2.43% | 1.46% | 2.31% | 2.23% | 2.63% | 2.76% | 2.99% | 4.56% | 3.20% |
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
FDMMX vs. FHIGX - Drawdown Comparison
The maximum FDMMX drawdown since its inception was -18.98%, smaller than the maximum FHIGX drawdown of -32.80%. Use the drawdown chart below to compare losses from any high point for FDMMX and FHIGX.
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Drawdown Indicators
| FDMMX | FHIGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.98% | -32.80% | +13.82% |
Max Drawdown (1Y)Largest decline over 1 year | -4.14% | -4.84% | +0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -13.70% | -16.18% | +2.48% |
Max Drawdown (10Y)Largest decline over 10 years | -13.70% | -16.18% | +2.48% |
Current DrawdownCurrent decline from peak | -2.74% | -3.03% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -2.36% | -4.55% | +2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 1.40% | -0.25% |
Volatility
FDMMX vs. FHIGX - Volatility Comparison
The current volatility for Fidelity Massachusetts Municipal Income Fund (FDMMX) is 1.12%, while Fidelity Municipal Income Fund (FHIGX) has a volatility of 1.20%. This indicates that FDMMX experiences smaller price fluctuations and is considered to be less risky than FHIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDMMX | FHIGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.20% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 1.82% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 4.94% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.62% | 4.12% | -0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 4.23% | -0.40% |