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

Correlation

The correlation between FDMMX and VWITX is 0.00, 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.


-0.50.00.51.0
Correlation: 0.0

Performance

FDMMX vs. VWITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Massachusetts Municipal Income Fund (FDMMX) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX). The values are adjusted to include any dividend payments, if applicable.

490.00%495.00%500.00%505.00%510.00%515.00%520.00%525.00%NovemberDecember2025FebruaryMarchApril
502.19%
506.53%
FDMMX
VWITX

Key characteristics

Sharpe Ratio

FDMMX:

0.30

VWITX:

0.34

Sortino Ratio

FDMMX:

0.42

VWITX:

0.46

Omega Ratio

FDMMX:

1.07

VWITX:

1.08

Calmar Ratio

FDMMX:

0.21

VWITX:

0.34

Martin Ratio

FDMMX:

1.04

VWITX:

1.25

Ulcer Index

FDMMX:

1.34%

VWITX:

1.15%

Daily Std Dev

FDMMX:

4.66%

VWITX:

4.30%

Max Drawdown

FDMMX:

-15.42%

VWITX:

-11.56%

Current Drawdown

FDMMX:

-4.80%

VWITX:

-2.66%

Returns By Period

In the year-to-date period, FDMMX achieves a -1.48% return, which is significantly lower than VWITX's -1.21% return. Over the past 10 years, FDMMX has underperformed VWITX with an annualized return of 1.43%, while VWITX has yielded a comparatively higher 2.02% annualized return.


FDMMX

YTD

-1.48%

1M

-0.49%

6M

-1.27%

1Y

1.40%

5Y*

0.57%

10Y*

1.43%

VWITX

YTD

-1.21%

1M

-0.48%

6M

-0.74%

1Y

1.82%

5Y*

1.28%

10Y*

2.02%

*Annualized

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FDMMX vs. VWITX - Expense Ratio Comparison

FDMMX has a 0.45% expense ratio, which is higher than VWITX's 0.17% 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 VWITX: current value is 0.17%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VWITX: 0.17%

Risk-Adjusted Performance

FDMMX vs. VWITX — 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 4040
Overall Rank
The Sharpe Ratio Rank of FDMMX is 4141
Sharpe Ratio Rank
The Sortino Ratio Rank of FDMMX is 3737
Sortino Ratio Rank
The Omega Ratio Rank of FDMMX is 4141
Omega Ratio Rank
The Calmar Ratio Rank of FDMMX is 4040
Calmar Ratio Rank
The Martin Ratio Rank of FDMMX is 4343
Martin Ratio Rank

VWITX
The Risk-Adjusted Performance Rank of VWITX is 4444
Overall Rank
The Sharpe Ratio Rank of VWITX is 4444
Sharpe Ratio Rank
The Sortino Ratio Rank of VWITX is 3939
Sortino Ratio Rank
The Omega Ratio Rank of VWITX is 4343
Omega Ratio Rank
The Calmar Ratio Rank of VWITX is 5050
Calmar Ratio Rank
The Martin Ratio Rank of VWITX is 4646
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. VWITX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Massachusetts Municipal Income Fund (FDMMX) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX). 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 0.30, compared to the broader market-1.000.001.002.003.00
FDMMX: 0.30
VWITX: 0.42
The chart of Sortino ratio for FDMMX, currently valued at 0.42, compared to the broader market-2.000.002.004.006.008.00
FDMMX: 0.42
VWITX: 0.58
The chart of Omega ratio for FDMMX, currently valued at 1.07, compared to the broader market0.501.001.502.002.503.00
FDMMX: 1.07
VWITX: 1.10
The chart of Calmar ratio for FDMMX, currently valued at 0.21, compared to the broader market0.002.004.006.008.0010.00
FDMMX: 0.21
VWITX: 0.43
The chart of Martin ratio for FDMMX, currently valued at 1.04, compared to the broader market0.0010.0020.0030.0040.0050.00
FDMMX: 1.04
VWITX: 1.58

The current FDMMX Sharpe Ratio is 0.30, which is comparable to the VWITX Sharpe Ratio of 0.34. The chart below compares the historical Sharpe Ratios of FDMMX and VWITX, 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
0.30
0.42
FDMMX
VWITX

Dividends

FDMMX vs. VWITX - Dividend Comparison

FDMMX's dividend yield for the trailing twelve months is around 2.70%, less than VWITX's 3.14% yield.


TTM20242023202220212020201920182017201620152014
FDMMX
Fidelity Massachusetts Municipal Income Fund
2.70%2.66%2.42%2.16%1.99%2.25%2.56%2.76%2.77%3.01%3.46%3.43%
VWITX
Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares
3.14%3.01%2.71%2.43%2.08%2.32%2.61%2.81%2.73%2.81%2.89%3.05%

Drawdowns

FDMMX vs. VWITX - Drawdown Comparison

The maximum FDMMX drawdown since its inception was -15.42%, which is greater than VWITX's maximum drawdown of -11.56%. Use the drawdown chart below to compare losses from any high point for FDMMX and VWITX. For additional features, visit the drawdowns tool.


-7.00%-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%NovemberDecember2025FebruaryMarchApril
-4.80%
-2.66%
FDMMX
VWITX

Volatility

FDMMX vs. VWITX - Volatility Comparison

Fidelity Massachusetts Municipal Income Fund (FDMMX) has a higher volatility of 3.53% compared to Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) at 3.25%. This indicates that FDMMX's price experiences larger fluctuations and is considered to be riskier than VWITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%1.00%2.00%3.00%4.00%NovemberDecember2025FebruaryMarchApril
3.53%
3.25%
FDMMX
VWITX