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FLTMX vs. BSNSX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

FLTMX vs. BSNSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Intermediate Municipal Income Fund (FLTMX) and Baird Strategic Municipal Bond Fund (BSNSX). The values are adjusted to include any dividend payments, if applicable.

0.00%1.00%2.00%3.00%4.00%JuneJulyAugustSeptemberOctoberNovember
2.77%
3.36%
FLTMX
BSNSX

Returns By Period

In the year-to-date period, FLTMX achieves a 1.63% return, which is significantly lower than BSNSX's 3.06% return.


FLTMX

YTD

1.63%

1M

0.73%

6M

2.77%

1Y

4.93%

5Y (annualized)

1.18%

10Y (annualized)

1.99%

BSNSX

YTD

3.06%

1M

0.68%

6M

3.37%

1Y

6.23%

5Y (annualized)

2.66%

10Y (annualized)

N/A

Key characteristics


FLTMXBSNSX
Sharpe Ratio1.502.92
Sortino Ratio2.244.56
Omega Ratio1.351.80
Calmar Ratio1.032.15
Martin Ratio5.3012.99
Ulcer Index0.73%0.48%
Daily Std Dev2.64%2.13%
Max Drawdown-12.97%-10.21%
Current Drawdown-1.14%-0.58%

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FLTMX vs. BSNSX - Expense Ratio Comparison

FLTMX has a 0.32% expense ratio, which is lower than BSNSX's 0.55% expense ratio.


BSNSX
Baird Strategic Municipal Bond Fund
Expense ratio chart for BSNSX: current value at 0.55% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.55%
Expense ratio chart for FLTMX: current value at 0.32% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.32%

Correlation

-0.50.00.51.00.8

The correlation between FLTMX and BSNSX is 0.78, 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

FLTMX vs. BSNSX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Intermediate Municipal Income Fund (FLTMX) and Baird Strategic Municipal Bond Fund (BSNSX). 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 FLTMX, currently valued at 1.50, compared to the broader market-1.000.001.002.003.004.005.001.502.58
The chart of Sortino ratio for FLTMX, currently valued at 2.24, compared to the broader market0.005.0010.002.243.90
The chart of Omega ratio for FLTMX, currently valued at 1.35, compared to the broader market1.002.003.004.001.351.69
The chart of Calmar ratio for FLTMX, currently valued at 1.02, compared to the broader market0.005.0010.0015.0020.001.032.87
The chart of Martin ratio for FLTMX, currently valued at 5.30, compared to the broader market0.0020.0040.0060.0080.00100.005.3011.05
FLTMX
BSNSX

The current FLTMX Sharpe Ratio is 1.50, which is lower than the BSNSX Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of FLTMX and BSNSX, 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 Ratio1.002.003.004.005.00JuneJulyAugustSeptemberOctoberNovember
1.50
2.58
FLTMX
BSNSX

Dividends

FLTMX vs. BSNSX - Dividend Comparison

FLTMX's dividend yield for the trailing twelve months is around 2.60%, less than BSNSX's 3.27% yield.


TTM20232022202120202019201820172016201520142013
FLTMX
Fidelity Intermediate Municipal Income Fund
2.60%2.43%2.05%1.80%2.06%2.39%2.55%2.61%2.61%2.59%2.81%3.17%
BSNSX
Baird Strategic Municipal Bond Fund
3.27%2.98%1.80%0.84%1.36%0.15%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

FLTMX vs. BSNSX - Drawdown Comparison

The maximum FLTMX drawdown since its inception was -12.97%, which is greater than BSNSX's maximum drawdown of -10.21%. Use the drawdown chart below to compare losses from any high point for FLTMX and BSNSX. For additional features, visit the drawdowns tool.


-3.50%-3.00%-2.50%-2.00%-1.50%-1.00%-0.50%0.00%JuneJulyAugustSeptemberOctoberNovember
-1.14%
-0.58%
FLTMX
BSNSX

Volatility

FLTMX vs. BSNSX - Volatility Comparison

Fidelity Intermediate Municipal Income Fund (FLTMX) has a higher volatility of 1.14% compared to Baird Strategic Municipal Bond Fund (BSNSX) at 0.95%. This indicates that FLTMX's price experiences larger fluctuations and is considered to be riskier than BSNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.20%0.40%0.60%0.80%1.00%1.20%1.40%JuneJulyAugustSeptemberOctoberNovember
1.14%
0.95%
FLTMX
BSNSX