FIMIX vs. FTMN

Last updated Aug 1, 2026

FIMIX (Fidelity Minnesota Municipal Income Fund) and FTMN (Franklin Minnesota Municipal Income ETF) are both Municipal Bonds funds. Their 0.48 correlation means their historical movements had little consistent relationship. FIMIX charges 0.49%/yr vs 0.35%/yr for FTMN.

Performance

FIMIX vs. FTMN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Minnesota Municipal Income Fund (FIMIX) and Franklin Minnesota Municipal Income ETF (FTMN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIMIX achieves a -0.67% return, which is significantly lower than FTMN's 0.25% return.

FIMIX

• 1D: -0.27%
• 1M: -2.05%
• 6M: -1.41%
• YTD: -0.67%
• 1Y: 3.72%
• 3Y*: 3.12%
• 5Y*: 0.42%
• 10Y*: 1.59%
• ALL TIME*: 3.29%

FTMN

• 1D: 0.06%
• 1M: -2.02%
• 6M: -0.31%
• YTD: 0.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIMIX Fidelity Minnesota Municipal Income Fund	$0.00	$0.00	$0.00
FTMN Franklin Minnesota Municipal Income ETF	$810.73K	$616.08K	$736.86K

FIMIX vs. FTMN - Yearly Performance Comparison

	2026 (YTD)	2025
FIMIX Fidelity Minnesota Municipal Income Fund	-0.67%	0.56%
FTMN Franklin Minnesota Municipal Income ETF	0.25%	0.27%

Correlation

The correlation between FIMIX and FTMN is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025	0.48

Return for Risk

FIMIX vs. FTMN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIMIX

FIMIX Risk / Return Rank: 57
FIMIX Sharpe Ratio Rank: 71
FIMIX Sortino Ratio Rank: 70
FIMIX Omega Ratio Rank: 82
FIMIX Calmar Ratio Rank: 31
FIMIX Martin Ratio Rank: 28

FTMN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIMIX vs. FTMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Minnesota Municipal Income Fund (FIMIX) and Franklin Minnesota Municipal Income ETF (FTMN). 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.

	FIMIX	FTMN	Difference
Sharpe ratio: Return per unit of total volatility	1.66	—	—
Sortino ratio: Return per unit of downside risk	2.37	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	1.37	—	—
Martin ratio: Return relative to average drawdown	4.03	—	—

Drawdowns

FIMIX vs. FTMN - Drawdown Comparison

The maximum FIMIX drawdown since its inception was -12.52%, which is greater than FTMN's maximum drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for FIMIX and FTMN.

Drawdown Indicators

	FIMIX	FTMN	Difference
Max Drawdown Largest peak-to-trough decline	-12.52%	-3.10%	-9.42%
Max Drawdown (1Y) Largest decline over 1 year	-3.33%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.52%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-12.52%	—	—
Current Drawdown Current decline from peak	-2.63%	-2.08%	-0.55%
Average Drawdown Average peak-to-trough decline	-1.63%	-0.72%	-0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	—	—

Volatility

Volatility by Period

	FIMIX	FTMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.75%	4.15%	-1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.58%	4.15%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.65%	4.15%	-0.50%

FIMIX vs. FTMN - Expense Ratio Comparison

FIMIX has a 0.49% expense ratio, which is higher than FTMN's 0.35% expense ratio.

Dividends

FIMIX vs. FTMN - Dividend Comparison

FIMIX's dividend yield for the trailing twelve months is around 2.50%, more than FTMN's 2.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIMIX Fidelity Minnesota Municipal Income Fund	2.50%	3.57%	2.66%	2.29%	1.44%	1.81%	2.12%	2.56%	2.63%	2.53%	3.25%	2.90%
FTMN Franklin Minnesota Municipal Income ETF	2.15%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIMIX and FTMN in my portfolio?

FIMIX and FTMN have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.