FMHTX vs. VWIUX
Compare and contrast key facts about Fidelity Michigan Municipal Income Fund (FMHTX) and Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares (VWIUX).
FMHTX is managed by Fidelity. It was launched on Nov 12, 1985. VWIUX is managed by Vanguard. It was launched on Feb 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMHTX or VWIUX.
Correlation
The correlation between FMHTX and VWIUX is 0.87, 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
FMHTX vs. VWIUX - Performance Comparison
Key characteristics
FMHTX:
0.84
VWIUX:
1.00
FMHTX:
1.14
VWIUX:
1.41
FMHTX:
1.18
VWIUX:
1.21
FMHTX:
0.45
VWIUX:
0.84
FMHTX:
2.61
VWIUX:
3.10
FMHTX:
1.07%
VWIUX:
0.92%
FMHTX:
3.29%
VWIUX:
2.86%
FMHTX:
-14.36%
VWIUX:
-11.49%
FMHTX:
-2.57%
VWIUX:
-0.85%
Returns By Period
In the year-to-date period, FMHTX achieves a 0.24% return, which is significantly lower than VWIUX's 0.49% return. Over the past 10 years, FMHTX has underperformed VWIUX with an annualized return of 1.87%, while VWIUX has yielded a comparatively higher 2.29% annualized return.
FMHTX
0.24%
0.76%
0.52%
2.78%
0.47%
1.87%
VWIUX
0.49%
0.86%
0.85%
2.72%
1.11%
2.29%
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FMHTX vs. VWIUX - Expense Ratio Comparison
FMHTX has a 0.48% expense ratio, which is higher than VWIUX's 0.09% expense ratio.
Risk-Adjusted Performance
FMHTX vs. VWIUX — Risk-Adjusted Performance Rank
FMHTX
VWIUX
FMHTX vs. VWIUX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Michigan Municipal Income Fund (FMHTX) and Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares (VWIUX). 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. VWIUX - Dividend Comparison
FMHTX's dividend yield for the trailing twelve months is around 2.74%, less than VWIUX's 3.12% 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% |
VWIUX Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares | 3.12% | 3.10% | 2.79% | 2.50% | 2.16% | 2.40% | 2.68% | 2.89% | 2.83% | 2.92% | 2.97% | 3.13% |
Drawdowns
FMHTX vs. VWIUX - Drawdown Comparison
The maximum FMHTX drawdown since its inception was -14.36%, which is greater than VWIUX's maximum drawdown of -11.49%. Use the drawdown chart below to compare losses from any high point for FMHTX and VWIUX. For additional features, visit the drawdowns tool.
Volatility
FMHTX vs. VWIUX - Volatility Comparison
Fidelity Michigan Municipal Income Fund (FMHTX) has a higher volatility of 0.97% compared to Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares (VWIUX) at 0.85%. This indicates that FMHTX's price experiences larger fluctuations and is considered to be riskier than VWIUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.