FMBIX vs. FTABX
Compare and contrast key facts about Fidelity Municipal Bond Index Fund (FMBIX) and Fidelity Tax-Free Bond Fund (FTABX).
FMBIX is managed by Fidelity. It was launched on Jul 11, 2019. FTABX is managed by Fidelity. It was launched on Apr 10, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMBIX or FTABX.
Performance
FMBIX vs. FTABX - Performance Comparison
Returns By Period
In the year-to-date period, FMBIX achieves a 1.81% return, which is significantly lower than FTABX's 2.34% return.
FMBIX
1.81%
1.15%
3.54%
5.75%
0.45%
N/A
FTABX
2.34%
1.08%
3.40%
6.64%
1.23%
2.47%
Key characteristics
| FMBIX | FTABX | |
|---|---|---|
| Sharpe Ratio | 1.36 | 1.53 |
| Sortino Ratio | 1.95 | 2.23 |
| Omega Ratio | 1.30 | 1.35 |
| Calmar Ratio | 0.68 | 0.81 |
| Martin Ratio | 4.58 | 5.86 |
| Ulcer Index | 0.99% | 0.91% |
| Daily Std Dev | 3.40% | 3.56% |
| Max Drawdown | -14.31% | -15.78% |
| Current Drawdown | -2.88% | -2.07% |
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FMBIX vs. FTABX - Expense Ratio Comparison
FMBIX has a 0.07% expense ratio, which is lower than FTABX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Correlation
The correlation between FMBIX and FTABX is 0.94, 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
FMBIX vs. FTABX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Bond Index Fund (FMBIX) and Fidelity Tax-Free Bond Fund (FTABX). 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.
Dividends
FMBIX vs. FTABX - Dividend Comparison
FMBIX's dividend yield for the trailing twelve months is around 2.51%, less than FTABX's 2.99% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMBIX Fidelity Municipal Bond Index Fund | 2.51% | 2.31% | 1.80% | 1.42% | 1.59% | 0.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FTABX Fidelity Tax-Free Bond Fund | 2.99% | 2.90% | 2.85% | 2.40% | 2.60% | 2.84% | 3.02% | 3.07% | 3.37% | 3.58% | 3.62% | 3.86% |
Drawdowns
FMBIX vs. FTABX - Drawdown Comparison
The maximum FMBIX drawdown since its inception was -14.31%, smaller than the maximum FTABX drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for FMBIX and FTABX. For additional features, visit the drawdowns tool.
Volatility
FMBIX vs. FTABX - Volatility Comparison
Fidelity Municipal Bond Index Fund (FMBIX) and Fidelity Tax-Free Bond Fund (FTABX) have volatilities of 1.53% and 1.59%, 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.