FMDTX vs. SMDMX
Compare and contrast key facts about Franklin Maryland Tax Free Income Fund (FMDTX) and Fidelity Maryland Municipal Income Fund (SMDMX).
FMDTX is managed by Franklin Templeton. It was launched on Oct 2, 1988. SMDMX is managed by Fidelity. It was launched on Apr 22, 1993.
Performance
FMDTX vs. SMDMX - Performance Comparison
Loading graphics...
FMDTX vs. SMDMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMDTX Franklin Maryland Tax Free Income Fund | -0.77% | 3.71% | 2.69% | 5.85% | -10.07% | 1.68% | 3.54% | 6.88% | 1.21% | 2.59% |
SMDMX Fidelity Maryland Municipal Income Fund | -1.25% | 5.86% | 1.57% | 6.21% | -9.56% | 1.62% | 3.79% | 7.17% | 0.27% | 5.92% |
Returns By Period
In the year-to-date period, FMDTX achieves a -0.77% return, which is significantly higher than SMDMX's -1.25% return. Over the past 10 years, FMDTX has underperformed SMDMX with an annualized return of 1.58%, while SMDMX has yielded a comparatively higher 1.84% annualized return.
FMDTX
- 1D
- 0.21%
- 1M
- -2.53%
- YTD
- -0.77%
- 6M
- 0.62%
- 1Y
- 3.03%
- 3Y*
- 2.81%
- 5Y*
- 0.60%
- 10Y*
- 1.58%
SMDMX
- 1D
- 0.19%
- 1M
- -3.23%
- YTD
- -1.25%
- 6M
- 0.68%
- 1Y
- 4.18%
- 3Y*
- 3.27%
- 5Y*
- 0.87%
- 10Y*
- 1.84%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FMDTX vs. SMDMX - Expense Ratio Comparison
FMDTX has a 0.72% expense ratio, which is higher than SMDMX's 0.55% expense ratio.
Return for Risk
FMDTX vs. SMDMX — Risk / Return Rank
FMDTX
SMDMX
FMDTX vs. SMDMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Maryland Tax Free Income Fund (FMDTX) and Fidelity Maryland Municipal Income Fund (SMDMX). 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.
| FMDTX | SMDMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.67 | 1.08 | -0.41 |
Sortino ratioReturn per unit of downside risk | 0.94 | 1.46 | -0.51 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.31 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.17 | -0.40 |
Martin ratioReturn relative to average drawdown | 2.29 | 4.29 | -2.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| FMDTX | SMDMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 1.08 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.23 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.49 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.18 | 1.05 | +0.14 |
Correlation
The correlation between FMDTX and SMDMX is 0.81, 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
FMDTX vs. SMDMX - Dividend Comparison
FMDTX's dividend yield for the trailing twelve months is around 3.49%, more than SMDMX's 2.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDTX Franklin Maryland Tax Free Income Fund | 3.49% | 4.51% | 3.87% | 2.88% | 2.72% | 2.29% | 2.73% | 3.51% | 3.14% | 3.02% | 3.68% | 3.62% |
SMDMX Fidelity Maryland Municipal Income Fund | 2.59% | 3.39% | 2.76% | 2.38% | 1.53% | 2.04% | 2.49% | 2.42% | 2.30% | 3.06% | 2.95% | 3.78% |
Drawdowns
FMDTX vs. SMDMX - Drawdown Comparison
The maximum FMDTX drawdown since its inception was -17.26%, which is greater than SMDMX's maximum drawdown of -14.13%. Use the drawdown chart below to compare losses from any high point for FMDTX and SMDMX.
Loading graphics...
Drawdown Indicators
| FMDTX | SMDMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.26% | -14.13% | -3.13% |
Max Drawdown (1Y)Largest decline over 1 year | -5.49% | -4.46% | -1.03% |
Max Drawdown (5Y)Largest decline over 5 years | -14.97% | -14.13% | -0.84% |
Max Drawdown (10Y)Largest decline over 10 years | -14.97% | -14.13% | -0.84% |
Current DrawdownCurrent decline from peak | -2.53% | -3.23% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -1.93% | -1.97% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.22% | +0.63% |
Volatility
FMDTX vs. SMDMX - Volatility Comparison
The current volatility for Franklin Maryland Tax Free Income Fund (FMDTX) is 1.12%, while Fidelity Maryland Municipal Income Fund (SMDMX) has a volatility of 1.22%. This indicates that FMDTX experiences smaller price fluctuations and is considered to be less risky than SMDMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| FMDTX | SMDMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.22% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 1.76% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.70% | 4.61% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.44% | 3.83% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.87% | 3.80% | +0.07% |