FLTMX vs. BSNSX
FLTMX (Fidelity Intermediate Municipal Income Fund) and BSNSX (Baird Strategic Municipal Bond Fund) are both Municipal Bonds funds. Over the past 5 years, FLTMX returned 0.92%/yr vs 1.88%/yr for BSNSX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. FLTMX charges 0.32%/yr vs 0.55%/yr for BSNSX.
Performance
FLTMX vs. BSNSX - Performance Comparison
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Returns By Period
In the year-to-date period, FLTMX achieves a -0.16% return, which is significantly lower than BSNSX's 0.99% return.
FLTMX
- 1D
- 0.10%
- 1M
- -1.40%
- 6M
- -1.17%
- YTD
- -0.16%
- 1Y
- 3.48%
- 3Y*
- 3.60%
- 5Y*
- 0.92%
- 10Y*
- 1.95%
- ALL TIME*
- 4.12%
BSNSX
- 1D
- 0.10%
- 1M
- -0.85%
- 6M
- 0.16%
- YTD
- 0.99%
- 1Y
- 4.11%
- 3Y*
- 4.26%
- 5Y*
- 1.88%
- 10Y*
- —
- ALL TIME*
- 3.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FLTMX vs. BSNSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FLTMX Fidelity Intermediate Municipal Income Fund | -0.16% | 6.02% | 1.19% | 5.52% | -6.92% | 0.83% | 4.36% | 0.58% |
BSNSX Baird Strategic Municipal Bond Fund | 0.99% | 4.83% | 2.92% | 6.53% | -5.54% | 2.00% | 8.13% | 0.85% |
Correlation
The correlation between FLTMX and BSNSX is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.80 |
The correlation between FLTMX and BSNSX shifts across timeframes, from 0.70 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FLTMX vs. BSNSX — Risk / Return Rank
FLTMX
BSNSX
FLTMX vs. BSNSX - Risk-Adjusted Trends 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.
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.
| FLTMX | BSNSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.66 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 2.34 | -1.13 |
| Martin ratioReturn relative to average drawdown | 3.25 | 7.86 | -4.61 |
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Drawdowns
FLTMX vs. BSNSX - Drawdown Comparison
The maximum FLTMX drawdown since its inception was -16.13%, which is greater than BSNSX's maximum drawdown of -9.77%. Use the drawdown chart below to compare losses from any high point for FLTMX and BSNSX.
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Drawdown Indicators
| FLTMX | BSNSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.13% | -9.77% | -6.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -1.81% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -3.67% | -2.92% | -0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -10.83% | -9.77% | -1.06% |
Max Drawdown (10Y)Largest decline over 10 years | -10.91% | — | — |
Current DrawdownCurrent decline from peak | -2.13% | -0.95% | -1.18% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -1.55% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.54% | +0.56% |
Volatility
FLTMX vs. BSNSX - Volatility Comparison
Fidelity Intermediate Municipal Income Fund (FLTMX) has a higher volatility of 0.83% compared to Baird Strategic Municipal Bond Fund (BSNSX) at 0.57%. 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.
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Volatility by Period
| FLTMX | BSNSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.57% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 1.37% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 1.64% | +0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.08% | 2.68% | +0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.24% | 3.32% | -0.08% |
FLTMX vs. BSNSX - Expense Ratio Comparison
FLTMX has a 0.32% expense ratio, which is lower than BSNSX's 0.55% expense ratio.
Dividends
FLTMX vs. BSNSX - Dividend Comparison
FLTMX's dividend yield for the trailing twelve months is around 2.96%, less than BSNSX's 3.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSNSX Baird Strategic Municipal Bond Fund | 3.37% | 3.32% | 3.28% | 2.99% | 1.84% | 1.33% | 1.99% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% |
FLTMX Fidelity Intermediate Municipal Income Fund | 2.96% | 3.70% | 2.47% | 2.42% | 1.36% | 1.67% | 2.00% | 2.39% | 3.31% | 2.64% | 3.20% | 2.36% |
Frequently Asked Questions
FLTMX and BSNSX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLTMX has higher volatility (0.83%) compared to BSNSX (0.57%). In terms of maximum drawdown, FLTMX dropped -16.13% vs BSNSX's -9.77%.
BSNSX currently has the higher Sharpe Ratio (2.59 vs 1.53), 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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