FIQZX vs. JMST
Compare and contrast key facts about Fidelity Advisor Intermediate Municipal Income Fund Class Z (FIQZX) and JPMorgan Ultra-Short Municipal Income ETF (JMST).
FIQZX is managed by Fidelity. It was launched on Oct 2, 2018. JMST is an actively managed fund by JPMorgan. It was launched on Oct 16, 2018.
Performance
FIQZX vs. JMST - Performance Comparison
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FIQZX vs. JMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIQZX Fidelity Advisor Intermediate Municipal Income Fund Class Z | -0.91% | 6.10% | 1.69% | 5.56% | -6.70% | 0.87% | 4.60% | 6.39% | 2.26% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 0.50% | 3.35% | 3.31% | 3.56% | 0.07% | 0.31% | 2.00% | 2.09% | 0.70% |
Returns By Period
In the year-to-date period, FIQZX achieves a -0.91% return, which is significantly lower than JMST's 0.50% return.
FIQZX
- 1D
- 0.10%
- 1M
- -2.87%
- YTD
- -0.91%
- 6M
- 0.52%
- 1Y
- 4.30%
- 3Y*
- 3.29%
- 5Y*
- 1.33%
- 10Y*
- —
JMST
- 1D
- 0.02%
- 1M
- -0.07%
- YTD
- 0.50%
- 6M
- 1.20%
- 1Y
- 3.07%
- 3Y*
- 3.25%
- 5Y*
- 2.20%
- 10Y*
- —
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FIQZX vs. JMST - Expense Ratio Comparison
FIQZX has a 0.27% expense ratio, which is higher than JMST's 0.18% 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. JMST — Risk / Return Rank
FIQZX
JMST
FIQZX vs. JMST - 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 JPMorgan Ultra-Short Municipal Income ETF (JMST). 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 | JMST | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.36 | 3.81 | -2.46 |
Sortino ratioReturn per unit of downside risk | 1.84 | 5.54 | -3.71 |
Omega ratioGain probability vs. loss probability | 1.40 | 2.23 | -0.83 |
Calmar ratioReturn relative to maximum drawdown | 1.47 | 4.43 | -2.96 |
Martin ratioReturn relative to average drawdown | 5.75 | 23.50 | -17.75 |
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 | JMST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 3.81 | -2.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 2.68 | -2.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 1.86 | -1.14 |
Correlation
The correlation between FIQZX and JMST is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FIQZX vs. JMST - Dividend Comparison
FIQZX's dividend yield for the trailing twelve months is around 2.92%, more than JMST's 2.77% 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% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 2.77% | 2.84% | 3.32% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.28% |
Drawdowns
FIQZX vs. JMST - Drawdown Comparison
The maximum FIQZX drawdown since its inception was -10.85%, which is greater than JMST's maximum drawdown of -2.41%. Use the drawdown chart below to compare losses from any high point for FIQZX and JMST.
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Drawdown Indicators
| FIQZX | JMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.85% | -2.41% | -8.44% |
Max Drawdown (1Y)Largest decline over 1 year | -3.56% | -0.71% | -2.85% |
Max Drawdown (5Y)Largest decline over 5 years | -10.85% | -1.15% | -9.70% |
Current DrawdownCurrent decline from peak | -2.87% | -0.14% | -2.73% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -0.13% | -2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.13% | +0.78% |
Volatility
FIQZX vs. JMST - Volatility Comparison
Fidelity Advisor Intermediate Municipal Income Fund Class Z (FIQZX) has a higher volatility of 0.98% compared to JPMorgan Ultra-Short Municipal Income ETF (JMST) at 0.18%. This indicates that FIQZX's price experiences larger fluctuations and is considered to be riskier than JMST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIQZX | JMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.18% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 1.55% | 0.47% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 0.81% | +2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.02% | 0.82% | +2.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 1.15% | +2.41% |