FMBIX vs. VTEB
Compare and contrast key facts about Fidelity Municipal Bond Index Fund (FMBIX) and Vanguard Tax-Exempt Bond ETF (VTEB).
FMBIX is managed by Fidelity. It was launched on Jul 11, 2019. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMBIX or VTEB.
Key characteristics
| FMBIX | VTEB | |
|---|---|---|
| YTD Return | 1.54% | 1.18% |
| 1Y Return | 6.58% | 6.04% |
| 3Y Return (Ann) | -0.79% | -0.25% |
| 5Y Return (Ann) | 0.43% | 1.15% |
| Sharpe Ratio | 1.78 | 1.73 |
| Sortino Ratio | 2.60 | 2.57 |
| Omega Ratio | 1.41 | 1.34 |
| Calmar Ratio | 0.72 | 0.93 |
| Martin Ratio | 6.32 | 7.57 |
| Ulcer Index | 0.97% | 0.91% |
| Daily Std Dev | 3.48% | 3.97% |
| Max Drawdown | -14.31% | -17.00% |
| Current Drawdown | -3.14% | -1.61% |
Correlation
The correlation between FMBIX and VTEB is 0.72, 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.
Performance
FMBIX vs. VTEB - Performance Comparison
In the year-to-date period, FMBIX achieves a 1.54% return, which is significantly higher than VTEB's 1.18% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FMBIX vs. VTEB - Expense Ratio Comparison
FMBIX has a 0.07% expense ratio, which is higher than VTEB's 0.05% 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%.
Risk-Adjusted Performance
FMBIX vs. VTEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Bond Index Fund (FMBIX) and Vanguard Tax-Exempt Bond ETF (VTEB). 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. VTEB - Dividend Comparison
FMBIX's dividend yield for the trailing twelve months is around 2.52%, less than VTEB's 3.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMBIX Fidelity Municipal Bond Index Fund | 2.52% | 2.31% | 1.80% | 1.42% | 1.59% | 0.77% | 0.00% | 0.00% | 0.00% | 0.00% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.11% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Drawdowns
FMBIX vs. VTEB - Drawdown Comparison
The maximum FMBIX drawdown since its inception was -14.31%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for FMBIX and VTEB. For additional features, visit the drawdowns tool.
Volatility
FMBIX vs. VTEB - Volatility Comparison
The current volatility for Fidelity Municipal Bond Index Fund (FMBIX) is 1.79%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.95%. This indicates that FMBIX experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.