FHIGX vs. FTABX
Compare and contrast key facts about Fidelity Municipal Income Fund (FHIGX) and Fidelity Tax-Free Bond Fund (FTABX).
FHIGX is managed by Fidelity. It was launched on Dec 1, 1977. FTABX is managed by Fidelity. It was launched on Apr 10, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FHIGX or FTABX.
Key characteristics
| FHIGX | FTABX | |
|---|---|---|
| YTD Return | 2.08% | 2.06% |
| 1Y Return | 7.55% | 7.56% |
| 3Y Return (Ann) | -0.71% | -0.46% |
| 5Y Return (Ann) | 0.96% | 1.23% |
| 10Y Return (Ann) | 2.03% | 2.45% |
| Sharpe Ratio | 2.07 | 1.96 |
| Sortino Ratio | 3.11 | 2.91 |
| Omega Ratio | 1.47 | 1.46 |
| Calmar Ratio | 0.77 | 0.82 |
| Martin Ratio | 8.36 | 7.96 |
| Ulcer Index | 0.87% | 0.89% |
| Daily Std Dev | 3.57% | 3.63% |
| Max Drawdown | -16.91% | -15.78% |
| Current Drawdown | -3.04% | -2.33% |
Correlation
The correlation between FHIGX and FTABX is 0.92, 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
FHIGX vs. FTABX - Performance Comparison
The year-to-date returns for both stocks are quite close, with FHIGX having a 2.08% return and FTABX slightly lower at 2.06%. Over the past 10 years, FHIGX has underperformed FTABX with an annualized return of 2.03%, while FTABX has yielded a comparatively higher 2.45% annualized return. 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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FHIGX vs. FTABX - Expense Ratio Comparison
FHIGX has a 0.45% expense ratio, which is higher than FTABX's 0.25% expense ratio.
Risk-Adjusted Performance
FHIGX vs. FTABX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Income Fund (FHIGX) 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.
Dividends
FHIGX vs. FTABX - Dividend Comparison
FHIGX's dividend yield for the trailing twelve months is around 2.93%, less than FTABX's 3.00% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHIGX Fidelity Municipal Income Fund | 2.93% | 2.84% | 2.72% | 2.40% | 2.58% | 2.79% | 2.99% | 3.05% | 3.40% | 3.43% | 3.51% | 3.91% |
FTABX Fidelity Tax-Free Bond Fund | 3.00% | 2.90% | 2.85% | 2.40% | 2.60% | 2.84% | 3.02% | 3.07% | 3.37% | 3.58% | 3.62% | 3.86% |
Drawdowns
FHIGX vs. FTABX - Drawdown Comparison
The maximum FHIGX drawdown since its inception was -16.91%, which is greater than FTABX's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for FHIGX and FTABX. For additional features, visit the drawdowns tool.
Volatility
FHIGX vs. FTABX - Volatility Comparison
The current volatility for Fidelity Municipal Income Fund (FHIGX) is 1.72%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 1.84%. This indicates that FHIGX 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.