FHUGX vs. MUB
FHUGX (Fidelity Advisor Municipal Income Fund Class A) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds. Over the past 5 years, FHUGX returned 0.52%/yr vs 0.96%/yr for MUB. A 0.66 correlation means they provide meaningful diversification when combined. FHUGX charges 0.78%/yr vs 0.07%/yr for MUB.
Performance
FHUGX vs. MUB - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FHUGX having a 1.49% return and MUB slightly higher at 1.53%.
FHUGX
- 1D
- 0.08%
- 1M
- 1.72%
- YTD
- 1.49%
- 6M
- 1.89%
- 1Y
- 6.90%
- 3Y*
- 3.86%
- 5Y*
- 0.52%
- 10Y*
- —
MUB
- 1D
- -0.01%
- 1M
- 1.35%
- YTD
- 1.53%
- 6M
- 1.89%
- 1Y
- 6.58%
- 3Y*
- 3.21%
- 5Y*
- 0.96%
- 10Y*
- 1.90%
FHUGX vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHUGX Fidelity Advisor Municipal Income Fund Class A | 1.49% | 4.91% | 1.33% | 6.52% | -11.00% | 2.16% | 4.28% | 8.06% | 2.74% |
MUB iShares National AMT-Free Muni Bond ETF | 1.53% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 2.61% |
Correlation
The correlation between FHUGX and MUB is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2018 | 0.66 |
The correlation between FHUGX and MUB has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.
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Return for Risk
FHUGX vs. MUB — Risk / Return Rank
FHUGX
MUB
FHUGX vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Municipal Income Fund Class A (FHUGX) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FHUGX | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.48 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 2.37 | -0.20 |
| Martin ratioReturn relative to average drawdown | 7.11 | 8.25 | -1.14 |
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Drawdowns
FHUGX vs. MUB - Drawdown Comparison
The maximum FHUGX drawdown since its inception was -16.44%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for FHUGX and MUB.
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Drawdown Indicators
| FHUGX | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.44% | -13.68% | -2.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -2.79% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -6.14% | -5.34% | -0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -16.44% | -11.88% | -4.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -0.72% | -0.41% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -2.23% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.80% | +0.17% |
Volatility
FHUGX vs. MUB - Volatility Comparison
Fidelity Advisor Municipal Income Fund Class A (FHUGX) and iShares National AMT-Free Muni Bond ETF (MUB) have volatilities of 0.77% and 0.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHUGX | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 0.76% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.14% | 2.27% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 2.89% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.13% | 4.07% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 4.93% | -0.45% |
FHUGX vs. MUB - Expense Ratio Comparison
FHUGX has a 0.78% expense ratio, which is higher than MUB's 0.07% expense ratio.
Dividends
FHUGX vs. MUB - Dividend Comparison
FHUGX's dividend yield for the trailing twelve months is around 2.76%, less than MUB's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHUGX Fidelity Advisor Municipal Income Fund Class A | 2.76% | 3.58% | 2.63% | 2.29% | 1.79% | 2.37% | 2.67% | 2.82% | 2.29% | 0.00% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Frequently Asked Questions
FHUGX and MUB have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FHUGX has higher volatility (0.77%) compared to MUB (0.76%). In terms of maximum drawdown, FHUGX dropped -16.44% vs MUB's -13.68%.
FHUGX currently has the higher Sharpe Ratio (2.55 vs 2.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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