FIQZX vs. FSMUX
Compare and contrast key facts about Fidelity Advisor Intermediate Municipal Income Fund Class Z (FIQZX) and Strategic Advisers Municipal Bond Fund (FSMUX).
FIQZX is managed by Fidelity. It was launched on Oct 2, 2018. FSMUX is managed by Fidelity. It was launched on Jun 24, 2021.
Performance
FIQZX vs. FSMUX - Performance Comparison
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FIQZX vs. FSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FIQZX Fidelity Advisor Intermediate Municipal Income Fund Class Z | -0.91% | 6.10% | 1.69% | 5.56% | -6.70% | 0.20% |
FSMUX Strategic Advisers Municipal Bond Fund | -1.13% | 3.14% | 2.99% | 6.78% | -11.25% | 0.39% |
Returns By Period
In the year-to-date period, FIQZX achieves a -0.91% return, which is significantly higher than FSMUX's -1.13% return.
FIQZX
- 1D
- 0.10%
- 1M
- -2.87%
- YTD
- -0.91%
- 6M
- 0.52%
- 1Y
- 4.30%
- 3Y*
- 3.29%
- 5Y*
- 1.33%
- 10Y*
- —
FSMUX
- 1D
- 0.11%
- 1M
- -2.56%
- YTD
- -1.13%
- 6M
- 0.12%
- 1Y
- 2.39%
- 3Y*
- 2.93%
- 5Y*
- —
- 10Y*
- —
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FIQZX vs. FSMUX - Expense Ratio Comparison
FIQZX has a 0.27% expense ratio, which is higher than FSMUX's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FIQZX vs. FSMUX — Risk / Return Rank
FIQZX
FSMUX
FIQZX vs. FSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Intermediate Municipal Income Fund Class Z (FIQZX) and Strategic Advisers Municipal Bond Fund (FSMUX). 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.
| FIQZX | FSMUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.36 | 0.63 | +0.73 |
Sortino ratioReturn per unit of downside risk | 1.84 | 0.87 | +0.96 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.19 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 1.47 | 0.28 | +1.19 |
Martin ratioReturn relative to average drawdown | 5.75 | 0.78 | +4.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIQZX | FSMUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 0.63 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | -0.00 | +0.73 |
Correlation
The correlation between FIQZX and FSMUX 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.
Dividends
FIQZX vs. FSMUX - Dividend Comparison
FIQZX's dividend yield for the trailing twelve months is around 2.92%, more than FSMUX's 2.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIQZX Fidelity Advisor Intermediate Municipal Income Fund Class Z | 2.92% | 3.78% | 2.96% | 2.47% | 1.58% | 1.70% | 2.23% | 2.44% | 0.65% |
FSMUX Strategic Advisers Municipal Bond Fund | 2.35% | 3.26% | 3.74% | 3.18% | 2.14% | 0.99% | 0.00% | 0.00% | 0.00% |
Drawdowns
FIQZX vs. FSMUX - Drawdown Comparison
The maximum FIQZX drawdown since its inception was -10.85%, smaller than the maximum FSMUX drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for FIQZX and FSMUX.
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Drawdown Indicators
| FIQZX | FSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.85% | -16.27% | +5.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.56% | -5.30% | +1.74% |
Max Drawdown (5Y)Largest decline over 5 years | -10.85% | — | — |
Current DrawdownCurrent decline from peak | -2.87% | -2.56% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -5.61% | +3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.96% | -1.05% |
Volatility
FIQZX vs. FSMUX - Volatility Comparison
Fidelity Advisor Intermediate Municipal Income Fund Class Z (FIQZX) and Strategic Advisers Municipal Bond Fund (FSMUX) have volatilities of 0.98% and 0.99%, 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
| FIQZX | FSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.99% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.55% | 2.12% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 6.65% | -2.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.02% | 4.67% | -1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 4.67% | -1.11% |