FMNDX vs. FHIGX
Compare and contrast key facts about Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and Fidelity Municipal Income Fund (FHIGX).
FMNDX is managed by Fidelity. It was launched on Oct 15, 2013. FHIGX is managed by Fidelity. It was launched on Dec 1, 1977.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMNDX or FHIGX.
Key characteristics
| FMNDX | FHIGX | |
|---|---|---|
| YTD Return | 2.78% | 2.90% |
| 1Y Return | 4.13% | 8.24% |
| 3Y Return (Ann) | 2.13% | -0.37% |
| 5Y Return (Ann) | 1.59% | 1.48% |
| 10Y Return (Ann) | 1.28% | 2.76% |
| Sharpe Ratio | 3.69 | 2.12 |
| Daily Std Dev | 1.11% | 4.00% |
| Max Drawdown | -1.69% | -22.10% |
| Current Drawdown | 0.00% | -1.64% |
Correlation
The correlation between FMNDX and FHIGX is 0.42, 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
FMNDX vs. FHIGX - Performance Comparison
The year-to-date returns for both investments are quite close, with FMNDX having a 2.78% return and FHIGX slightly higher at 2.90%. Over the past 10 years, FMNDX has underperformed FHIGX with an annualized return of 1.28%, while FHIGX has yielded a comparatively higher 2.76% annualized 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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FMNDX vs. FHIGX - Expense Ratio Comparison
FMNDX has a 0.25% expense ratio, which is lower than FHIGX's 0.45% expense ratio.
Risk-Adjusted Performance
FMNDX vs. FHIGX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and Fidelity Municipal Income Fund (FHIGX). 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
FMNDX vs. FHIGX - Dividend Comparison
FMNDX's dividend yield for the trailing twelve months is around 3.23%, more than FHIGX's 2.88% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMNDX Fidelity Conservative Income Municipal Bond Fund Institutional Class | 3.23% | 2.88% | 1.06% | 0.25% | 0.87% | 1.58% | 1.45% | 0.99% | 0.71% | 0.42% | 0.26% | 0.02% |
FHIGX Fidelity Municipal Income Fund | 2.88% | 2.83% | 2.71% | 3.05% | 2.99% | 3.16% | 3.66% | 4.46% | 4.58% | 3.93% | 3.51% | 3.91% |
Drawdowns
FMNDX vs. FHIGX - Drawdown Comparison
The maximum FMNDX drawdown since its inception was -1.69%, smaller than the maximum FHIGX drawdown of -22.10%. Use the drawdown chart below to compare losses from any high point for FMNDX and FHIGX. For additional features, visit the drawdowns tool.
Volatility
FMNDX vs. FHIGX - Volatility Comparison
The current volatility for Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) is 0.29%, while Fidelity Municipal Income Fund (FHIGX) has a volatility of 0.38%. This indicates that FMNDX experiences smaller price fluctuations and is considered to be less risky than FHIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.