FMHTX vs. FXNAX
Compare and contrast key facts about Fidelity Michigan Municipal Income Fund (FMHTX) and Fidelity U.S. Bond Index Fund (FXNAX).
FMHTX is managed by Fidelity. It was launched on Nov 12, 1985. FXNAX is managed by Fidelity.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMHTX or FXNAX.
Correlation
The correlation between FMHTX and FXNAX is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FMHTX vs. FXNAX - Performance Comparison
Key characteristics
FMHTX:
0.84
FXNAX:
0.83
FMHTX:
1.14
FXNAX:
1.23
FMHTX:
1.18
FXNAX:
1.14
FMHTX:
0.45
FXNAX:
0.30
FMHTX:
2.60
FXNAX:
1.98
FMHTX:
1.07%
FXNAX:
2.16%
FMHTX:
3.30%
FXNAX:
5.17%
FMHTX:
-14.36%
FXNAX:
-19.64%
FMHTX:
-2.57%
FXNAX:
-9.55%
Returns By Period
In the year-to-date period, FMHTX achieves a 0.24% return, which is significantly lower than FXNAX's 0.60% return. Over the past 10 years, FMHTX has outperformed FXNAX with an annualized return of 1.87%, while FXNAX has yielded a comparatively lower 1.22% annualized return.
FMHTX
0.24%
0.76%
0.52%
2.78%
0.45%
1.87%
FXNAX
0.60%
0.79%
-1.33%
4.08%
-0.86%
1.22%
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FMHTX vs. FXNAX - Expense Ratio Comparison
FMHTX has a 0.48% expense ratio, which is higher than FXNAX's 0.03% expense ratio.
Risk-Adjusted Performance
FMHTX vs. FXNAX — Risk-Adjusted Performance Rank
FMHTX
FXNAX
FMHTX vs. FXNAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Michigan Municipal Income Fund (FMHTX) and Fidelity U.S. Bond Index Fund (FXNAX). 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
FMHTX vs. FXNAX - Dividend Comparison
FMHTX's dividend yield for the trailing twelve months is around 2.74%, less than FXNAX's 3.42% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMHTX Fidelity Michigan Municipal Income Fund | 2.74% | 2.73% | 2.42% | 2.31% | 2.10% | 2.22% | 2.49% | 2.65% | 2.73% | 2.96% | 3.13% | 3.53% |
FXNAX Fidelity U.S. Bond Index Fund | 3.42% | 3.40% | 2.92% | 2.41% | 1.81% | 2.10% | 2.69% | 2.74% | 2.52% | 2.52% | 2.69% | 2.59% |
Drawdowns
FMHTX vs. FXNAX - Drawdown Comparison
The maximum FMHTX drawdown since its inception was -14.36%, smaller than the maximum FXNAX drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for FMHTX and FXNAX. For additional features, visit the drawdowns tool.
Volatility
FMHTX vs. FXNAX - Volatility Comparison
The current volatility for Fidelity Michigan Municipal Income Fund (FMHTX) is 0.97%, while Fidelity U.S. Bond Index Fund (FXNAX) has a volatility of 1.30%. This indicates that FMHTX experiences smaller price fluctuations and is considered to be less risky than FXNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.