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FDMMX vs. FTABX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between FDMMX and FTABX is -0.13. 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.


-0.50.00.51.0
Correlation: -0.1

Performance

FDMMX vs. FTABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Massachusetts Municipal Income Fund (FDMMX) and Fidelity Tax-Free Bond Fund (FTABX). The values are adjusted to include any dividend payments, if applicable.

130.00%140.00%150.00%160.00%NovemberDecember2025FebruaryMarchApril
131.01%
153.11%
FDMMX
FTABX

Key characteristics

Sharpe Ratio

FDMMX:

0.18

FTABX:

0.15

Sortino Ratio

FDMMX:

0.27

FTABX:

0.23

Omega Ratio

FDMMX:

1.05

FTABX:

1.04

Calmar Ratio

FDMMX:

0.14

FTABX:

0.13

Martin Ratio

FDMMX:

0.64

FTABX:

0.53

Ulcer Index

FDMMX:

1.33%

FTABX:

1.52%

Daily Std Dev

FDMMX:

4.64%

FTABX:

5.37%

Max Drawdown

FDMMX:

-15.42%

FTABX:

-15.78%

Current Drawdown

FDMMX:

-4.87%

FTABX:

-4.77%

Returns By Period

In the year-to-date period, FDMMX achieves a -2.01% return, which is significantly higher than FTABX's -2.45% return. Over the past 10 years, FDMMX has underperformed FTABX with an annualized return of 1.61%, while FTABX has yielded a comparatively higher 1.98% annualized return.


FDMMX

YTD

-2.01%

1M

-1.82%

6M

-1.45%

1Y

0.59%

5Y*

0.61%

10Y*

1.61%

FTABX

YTD

-2.45%

1M

-2.22%

6M

-1.71%

1Y

0.52%

5Y*

1.36%

10Y*

1.98%

*Annualized

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FDMMX vs. FTABX - Expense Ratio Comparison

FDMMX has a 0.45% expense ratio, which is higher than FTABX's 0.25% expense ratio.


Expense ratio chart for FDMMX: current value is 0.45%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FDMMX: 0.45%
Expense ratio chart for FTABX: current value is 0.25%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FTABX: 0.25%

Risk-Adjusted Performance

FDMMX vs. FTABX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FDMMX
The Risk-Adjusted Performance Rank of FDMMX is 3434
Overall Rank
The Sharpe Ratio Rank of FDMMX is 3535
Sharpe Ratio Rank
The Sortino Ratio Rank of FDMMX is 3131
Sortino Ratio Rank
The Omega Ratio Rank of FDMMX is 3333
Omega Ratio Rank
The Calmar Ratio Rank of FDMMX is 3636
Calmar Ratio Rank
The Martin Ratio Rank of FDMMX is 3737
Martin Ratio Rank

FTABX
The Risk-Adjusted Performance Rank of FTABX is 3434
Overall Rank
The Sharpe Ratio Rank of FTABX is 3434
Sharpe Ratio Rank
The Sortino Ratio Rank of FTABX is 3030
Sortino Ratio Rank
The Omega Ratio Rank of FTABX is 3232
Omega Ratio Rank
The Calmar Ratio Rank of FTABX is 3636
Calmar Ratio Rank
The Martin Ratio Rank of FTABX is 3535
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

FDMMX vs. FTABX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Massachusetts Municipal Income Fund (FDMMX) and Fidelity Tax-Free Bond Fund (FTABX). 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.


The chart of Sharpe ratio for FDMMX, currently valued at 0.18, compared to the broader market-1.000.001.002.003.00
FDMMX: 0.18
FTABX: 0.15
The chart of Sortino ratio for FDMMX, currently valued at 0.27, compared to the broader market-2.000.002.004.006.008.00
FDMMX: 0.27
FTABX: 0.23
The chart of Omega ratio for FDMMX, currently valued at 1.05, compared to the broader market0.501.001.502.002.503.00
FDMMX: 1.05
FTABX: 1.04
The chart of Calmar ratio for FDMMX, currently valued at 0.14, compared to the broader market0.002.004.006.008.0010.00
FDMMX: 0.14
FTABX: 0.13
The chart of Martin ratio for FDMMX, currently valued at 0.64, compared to the broader market0.0010.0020.0030.0040.0050.00
FDMMX: 0.64
FTABX: 0.53

The current FDMMX Sharpe Ratio is 0.18, which is comparable to the FTABX Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of FDMMX and FTABX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.00NovemberDecember2025FebruaryMarchApril
0.18
0.15
FDMMX
FTABX

Dividends

FDMMX vs. FTABX - Dividend Comparison

FDMMX's dividend yield for the trailing twelve months is around 2.73%, less than FTABX's 3.14% yield.


TTM20242023202220212020201920182017201620152014
FDMMX
Fidelity Massachusetts Municipal Income Fund
2.73%2.66%2.43%2.16%2.64%2.40%2.62%3.14%2.99%4.29%3.46%3.43%
FTABX
Fidelity Tax-Free Bond Fund
3.14%3.02%2.90%2.85%2.40%2.60%2.84%3.02%3.07%3.37%3.58%3.62%

Drawdowns

FDMMX vs. FTABX - Drawdown Comparison

The maximum FDMMX drawdown since its inception was -15.42%, roughly equal to the maximum FTABX drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for FDMMX and FTABX. For additional features, visit the drawdowns tool.


-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%NovemberDecember2025FebruaryMarchApril
-4.87%
-4.77%
FDMMX
FTABX

Volatility

FDMMX vs. FTABX - Volatility Comparison

The current volatility for Fidelity Massachusetts Municipal Income Fund (FDMMX) is 3.52%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 4.10%. This indicates that FDMMX experiences smaller price fluctuations and is considered to be less risky than FTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


1.00%2.00%3.00%4.00%NovemberDecember2025FebruaryMarchApril
3.52%
4.10%
FDMMX
FTABX