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FHIGX vs. VCPAX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

FHIGX vs. VCPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Municipal Income Fund (FHIGX) and Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX). The values are adjusted to include any dividend payments, if applicable.

0.00%2.00%4.00%6.00%JuneJulyAugustSeptemberOctoberNovember
3.26%
3.71%
FHIGX
VCPAX

Returns By Period

In the year-to-date period, FHIGX achieves a 2.25% return, which is significantly lower than VCPAX's 2.82% return.


FHIGX

YTD

2.25%

1M

0.25%

6M

3.17%

1Y

6.64%

5Y (annualized)

0.93%

10Y (annualized)

2.04%

VCPAX

YTD

2.82%

1M

-0.52%

6M

3.76%

1Y

7.70%

5Y (annualized)

N/A

10Y (annualized)

N/A

Key characteristics


FHIGXVCPAX
Sharpe Ratio1.851.48
Sortino Ratio2.772.18
Omega Ratio1.421.26
Calmar Ratio0.760.65
Martin Ratio7.215.42
Ulcer Index0.90%1.43%
Daily Std Dev3.48%5.25%
Max Drawdown-16.91%-17.25%
Current Drawdown-2.88%-4.78%

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FHIGX vs. VCPAX - Expense Ratio Comparison

FHIGX has a 0.45% expense ratio, which is higher than VCPAX's 0.20% expense ratio.


FHIGX
Fidelity Municipal Income Fund
Expense ratio chart for FHIGX: current value at 0.45% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.45%
Expense ratio chart for VCPAX: current value at 0.20% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.20%

Correlation

-0.50.00.51.00.5

The correlation between FHIGX and VCPAX is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Risk-Adjusted Performance

FHIGX vs. VCPAX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Income Fund (FHIGX) and Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX). 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.


Sharpe ratio
The chart of Sharpe ratio for FHIGX, currently valued at 1.85, compared to the broader market-1.000.001.002.003.004.005.001.851.43
The chart of Sortino ratio for FHIGX, currently valued at 2.77, compared to the broader market0.005.0010.002.772.10
The chart of Omega ratio for FHIGX, currently valued at 1.42, compared to the broader market1.002.003.004.001.421.26
The chart of Calmar ratio for FHIGX, currently valued at 0.82, compared to the broader market0.005.0010.0015.0020.0025.000.820.67
The chart of Martin ratio for FHIGX, currently valued at 7.21, compared to the broader market0.0020.0040.0060.0080.00100.007.215.19
FHIGX
VCPAX

The current FHIGX Sharpe Ratio is 1.85, which is comparable to the VCPAX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FHIGX and VCPAX, 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 Ratio0.001.002.003.004.00JuneJulyAugustSeptemberOctoberNovember
1.85
1.43
FHIGX
VCPAX

Dividends

FHIGX vs. VCPAX - Dividend Comparison

FHIGX's dividend yield for the trailing twelve months is around 2.93%, less than VCPAX's 4.81% yield.


TTM20232022202120202019201820172016201520142013
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%
VCPAX
Vanguard Core-Plus Bond Fund Admiral Shares
4.81%4.54%3.26%0.27%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

FHIGX vs. VCPAX - Drawdown Comparison

The maximum FHIGX drawdown since its inception was -16.91%, roughly equal to the maximum VCPAX drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for FHIGX and VCPAX. For additional features, visit the drawdowns tool.


-8.00%-6.00%-4.00%-2.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-2.29%
-4.78%
FHIGX
VCPAX

Volatility

FHIGX vs. VCPAX - Volatility Comparison

Fidelity Municipal Income Fund (FHIGX) has a higher volatility of 1.47% compared to Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX) at 1.39%. This indicates that FHIGX's price experiences larger fluctuations and is considered to be riskier than VCPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%JuneJulyAugustSeptemberOctoberNovember
1.47%
1.39%
FHIGX
VCPAX