FMBIX vs. FSMUX
Compare and contrast key facts about Fidelity Municipal Bond Index Fund (FMBIX) and Strategic Advisers Municipal Bond Fund (FSMUX).
FMBIX is managed by Fidelity. It was launched on Jul 11, 2019. FSMUX is managed by Fidelity. It was launched on Jun 24, 2021.
Performance
FMBIX vs. FSMUX - Performance Comparison
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FMBIX vs. FSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FMBIX Fidelity Municipal Bond Index Fund | 0.00% | 0.60% | 1.32% | 5.89% | -10.00% | 0.35% |
FSMUX Strategic Advisers Municipal Bond Fund | -0.79% | 3.14% | 2.99% | 6.78% | -11.25% | 0.39% |
Returns By Period
FMBIX
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FSMUX
- 1D
- 0.34%
- 1M
- -2.01%
- YTD
- -0.79%
- 6M
- 0.46%
- 1Y
- 2.39%
- 3Y*
- 3.05%
- 5Y*
- —
- 10Y*
- —
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FMBIX vs. FSMUX - Expense Ratio Comparison
FMBIX has a 0.07% 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
FMBIX vs. FSMUX — Risk / Return Rank
FMBIX
FSMUX
FMBIX vs. FSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Bond Index Fund (FMBIX) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| FMBIX | FSMUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | — | 0.01 | — |
Correlation
The correlation between FMBIX and FSMUX is 0.83, 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
FMBIX vs. FSMUX - Dividend Comparison
FMBIX has not paid dividends to shareholders, while FSMUX's dividend yield for the trailing twelve months is around 2.34%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FMBIX Fidelity Municipal Bond Index Fund | 0.00% | 0.70% | 2.60% | 2.29% | 1.17% | 1.28% | 1.59% | 0.77% |
FSMUX Strategic Advisers Municipal Bond Fund | 2.34% | 3.26% | 3.74% | 3.18% | 2.14% | 0.99% | 0.00% | 0.00% |
Drawdowns
FMBIX vs. FSMUX - Drawdown Comparison
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Drawdown Indicators
| FMBIX | FSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -16.27% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.30% | — |
Current DrawdownCurrent decline from peak | — | -2.23% | — |
Average DrawdownAverage peak-to-trough decline | — | -5.61% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.96% | — |
Volatility
FMBIX vs. FSMUX - Volatility Comparison
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Volatility by Period
| FMBIX | FSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.09% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.14% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 6.65% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 4.67% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 4.67% | — |