FHIGX vs. VNJTX
Compare and contrast key facts about Fidelity Municipal Income Fund (FHIGX) and Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX).
FHIGX is managed by Fidelity. It was launched on Dec 1, 1977. VNJTX is managed by Vanguard. It was launched on Feb 3, 1988.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FHIGX or VNJTX.
Key characteristics
| FHIGX | VNJTX | |
|---|---|---|
| YTD Return | 2.08% | 1.97% |
| 1Y Return | 8.38% | 9.29% |
| 3Y Return (Ann) | -0.73% | -0.41% |
| 5Y Return (Ann) | 1.02% | 1.43% |
| 10Y Return (Ann) | 2.03% | 2.67% |
| Sharpe Ratio | 2.33 | 2.37 |
| Sortino Ratio | 3.56 | 3.57 |
| Omega Ratio | 1.54 | 1.53 |
| Calmar Ratio | 0.85 | 0.90 |
| Martin Ratio | 9.82 | 9.64 |
| Ulcer Index | 0.85% | 0.96% |
| Daily Std Dev | 3.57% | 3.91% |
| Max Drawdown | -16.91% | -16.22% |
| Current Drawdown | -3.04% | -1.96% |
Correlation
The correlation between FHIGX and VNJTX is 0.84, 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. VNJTX - Performance Comparison
In the year-to-date period, FHIGX achieves a 2.08% return, which is significantly higher than VNJTX's 1.97% return. Over the past 10 years, FHIGX has underperformed VNJTX with an annualized return of 2.03%, while VNJTX has yielded a comparatively higher 2.67% 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. VNJTX - Expense Ratio Comparison
FHIGX has a 0.45% expense ratio, which is higher than VNJTX's 0.17% expense ratio.
Risk-Adjusted Performance
FHIGX vs. VNJTX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Income Fund (FHIGX) and Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX). 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. VNJTX - Dividend Comparison
FHIGX's dividend yield for the trailing twelve months is around 2.93%, less than VNJTX's 3.37% 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% |
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 3.37% | 3.26% | 3.14% | 2.69% | 2.94% | 3.23% | 3.54% | 3.50% | 3.68% | 3.53% | 3.52% | 3.76% |
Drawdowns
FHIGX vs. VNJTX - Drawdown Comparison
The maximum FHIGX drawdown since its inception was -16.91%, roughly equal to the maximum VNJTX drawdown of -16.22%. Use the drawdown chart below to compare losses from any high point for FHIGX and VNJTX. For additional features, visit the drawdowns tool.
Volatility
FHIGX vs. VNJTX - Volatility Comparison
The current volatility for Fidelity Municipal Income Fund (FHIGX) is 1.73%, while Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) has a volatility of 1.93%. This indicates that FHIGX experiences smaller price fluctuations and is considered to be less risky than VNJTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.