FDMMX vs. SGOV
Compare and contrast key facts about Fidelity Massachusetts Municipal Income Fund (FDMMX) and iShares 0-3 Month Treasury Bond ETF (SGOV).
FDMMX is managed by Fidelity. It was launched on Nov 10, 1983. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Securities Index. It was launched on May 26, 2020.
Performance
FDMMX vs. SGOV - Performance Comparison
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FDMMX vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FDMMX Fidelity Massachusetts Municipal Income Fund | -0.72% | 5.24% | 1.27% | 5.76% | -9.67% | 1.11% | 4.02% |
SGOV iShares 0-3 Month Treasury Bond ETF | 0.86% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Returns By Period
In the year-to-date period, FDMMX achieves a -0.72% return, which is significantly lower than SGOV's 0.86% 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%
SGOV
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 0.86%
- 6M
- 1.88%
- 1Y
- 4.07%
- 3Y*
- 4.79%
- 5Y*
- 3.40%
- 10Y*
- —
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FDMMX vs. SGOV - Expense Ratio Comparison
FDMMX has a 0.45% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Return for Risk
FDMMX vs. SGOV — Risk / Return Rank
FDMMX
SGOV
FDMMX vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Massachusetts Municipal Income Fund (FDMMX) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.15 | 20.61 | -19.46 |
Sortino ratioReturn per unit of downside risk | 1.54 | 284.11 | -282.57 |
Omega ratioGain probability vs. loss probability | 1.32 | 201.50 | -200.18 |
Calmar ratioReturn relative to maximum drawdown | 1.23 | 408.95 | -407.71 |
Martin ratioReturn relative to average drawdown | 4.44 | 4,591.55 | -4,587.10 |
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 | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 20.61 | -19.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 14.11 | -13.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 12.33 | -11.22 |
Correlation
The correlation between FDMMX and SGOV is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FDMMX vs. SGOV - Dividend Comparison
FDMMX's dividend yield for the trailing twelve months is around 2.72%, less than SGOV's 3.99% 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% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.99% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FDMMX vs. SGOV - Drawdown Comparison
The maximum FDMMX drawdown since its inception was -18.98%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for FDMMX and SGOV.
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Drawdown Indicators
| FDMMX | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.98% | -0.03% | -18.95% |
Max Drawdown (1Y)Largest decline over 1 year | -4.14% | -0.01% | -4.13% |
Max Drawdown (5Y)Largest decline over 5 years | -13.70% | -0.03% | -13.67% |
Max Drawdown (10Y)Largest decline over 10 years | -13.70% | — | — |
Current DrawdownCurrent decline from peak | -2.74% | 0.00% | -2.74% |
Average DrawdownAverage peak-to-trough decline | -2.36% | 0.00% | -2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.00% | +1.15% |
Volatility
FDMMX vs. SGOV - Volatility Comparison
Fidelity Massachusetts Municipal Income Fund (FDMMX) has a higher volatility of 1.12% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that FDMMX's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDMMX | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.06% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 0.13% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 0.20% | +4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.62% | 0.24% | +3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 0.24% | +3.59% |