FMHTX vs. SCHZ
Compare and contrast key facts about Fidelity Michigan Municipal Income Fund (FMHTX) and Schwab U.S. Aggregate Bond ETF (SCHZ).
FMHTX is managed by Fidelity. It was launched on Nov 12, 1985. SCHZ is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US Aggregate. It was launched on Jul 14, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMHTX or SCHZ.
Correlation
The correlation between FMHTX and SCHZ is 0.48, 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. SCHZ - Performance Comparison
Key characteristics
FMHTX:
0.92
SCHZ:
1.07
FMHTX:
1.25
SCHZ:
1.60
FMHTX:
1.19
SCHZ:
1.19
FMHTX:
0.49
SCHZ:
0.62
FMHTX:
2.83
SCHZ:
2.69
FMHTX:
1.08%
SCHZ:
2.12%
FMHTX:
3.30%
SCHZ:
5.32%
FMHTX:
-14.36%
SCHZ:
-16.69%
FMHTX:
-2.23%
SCHZ:
-2.71%
Returns By Period
In the year-to-date period, FMHTX achieves a 0.58% return, which is significantly lower than SCHZ's 1.58% return. Over the past 10 years, FMHTX has underperformed SCHZ with an annualized return of 1.89%, while SCHZ has yielded a comparatively higher 2.54% annualized return.
FMHTX
0.58%
0.85%
0.78%
3.23%
0.46%
1.89%
SCHZ
1.58%
1.35%
-0.91%
6.00%
0.66%
2.54%
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FMHTX vs. SCHZ - Expense Ratio Comparison
FMHTX has a 0.48% expense ratio, which is higher than SCHZ's 0.04% expense ratio.
Risk-Adjusted Performance
FMHTX vs. SCHZ — Risk-Adjusted Performance Rank
FMHTX
SCHZ
FMHTX vs. SCHZ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Michigan Municipal Income Fund (FMHTX) and Schwab U.S. Aggregate Bond ETF (SCHZ). 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. SCHZ - Dividend Comparison
FMHTX's dividend yield for the trailing twelve months is around 2.73%, less than SCHZ's 5.20% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMHTX Fidelity Michigan Municipal Income Fund | 2.73% | 2.73% | 2.42% | 2.31% | 2.10% | 2.22% | 2.49% | 2.65% | 2.73% | 2.96% | 3.13% | 3.53% |
SCHZ Schwab U.S. Aggregate Bond ETF | 5.20% | 5.55% | 5.18% | 4.60% | 3.28% | 3.20% | 4.22% | 3.93% | 3.20% | 3.55% | 3.17% | 3.56% |
Drawdowns
FMHTX vs. SCHZ - Drawdown Comparison
The maximum FMHTX drawdown since its inception was -14.36%, smaller than the maximum SCHZ drawdown of -16.69%. Use the drawdown chart below to compare losses from any high point for FMHTX and SCHZ. For additional features, visit the drawdowns tool.
Volatility
FMHTX vs. SCHZ - Volatility Comparison
The current volatility for Fidelity Michigan Municipal Income Fund (FMHTX) is 0.94%, while Schwab U.S. Aggregate Bond ETF (SCHZ) has a volatility of 1.33%. This indicates that FMHTX experiences smaller price fluctuations and is considered to be less risky than SCHZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.