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

Performance

FHIGX vs. VNJTX - Performance Comparison

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

-1.00%0.00%1.00%2.00%3.00%4.00%5.00%JuneJulyAugustSeptemberOctoberNovember
3.25%
3.89%
FHIGX
VNJTX

Returns By Period

The year-to-date returns for both stocks are quite close, with FHIGX having a 2.25% return and VNJTX slightly lower at 2.24%. Over the past 10 years, FHIGX has underperformed VNJTX with an annualized return of 2.04%, while VNJTX has yielded a comparatively higher 2.71% annualized return.


FHIGX

YTD

2.25%

1M

0.25%

6M

3.17%

1Y

6.64%

5Y (annualized)

0.93%

10Y (annualized)

2.04%

VNJTX

YTD

2.24%

1M

0.55%

6M

3.80%

1Y

7.29%

5Y (annualized)

1.37%

10Y (annualized)

2.71%

Key characteristics


FHIGXVNJTX
Sharpe Ratio1.851.99
Sortino Ratio2.772.94
Omega Ratio1.421.43
Calmar Ratio0.760.90
Martin Ratio7.217.59
Ulcer Index0.90%1.00%
Daily Std Dev3.48%3.82%
Max Drawdown-16.91%-16.22%
Current Drawdown-2.88%-1.70%

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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.


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 VNJTX: current value at 0.17% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.17%

Correlation

-0.50.00.51.00.8

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.

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.


Sharpe ratio
The chart of Sharpe ratio for FHIGX, currently valued at 1.85, compared to the broader market-1.000.001.002.003.004.005.001.851.86
The chart of Sortino ratio for FHIGX, currently valued at 2.77, compared to the broader market0.005.0010.002.772.75
The chart of Omega ratio for FHIGX, currently valued at 1.42, compared to the broader market1.002.003.004.001.421.40
The chart of Calmar ratio for FHIGX, currently valued at 0.76, compared to the broader market0.005.0010.0015.0020.0025.000.760.90
The chart of Martin ratio for FHIGX, currently valued at 7.21, compared to the broader market0.0020.0040.0060.0080.00100.007.217.10
FHIGX
VNJTX

The current FHIGX Sharpe Ratio is 1.85, which is comparable to the VNJTX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of FHIGX and VNJTX, 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
1.86
FHIGX
VNJTX

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.


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%
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.


-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-2.88%
-1.70%
FHIGX
VNJTX

Volatility

FHIGX vs. VNJTX - Volatility Comparison

The current volatility for Fidelity Municipal Income Fund (FHIGX) is 1.47%, while Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) has a volatility of 1.66%. 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.


0.50%1.00%1.50%2.00%JuneJulyAugustSeptemberOctoberNovember
1.47%
1.66%
FHIGX
VNJTX