FMNDX vs. FMBIX
Compare and contrast key facts about Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and Fidelity Municipal Bond Index Fund (FMBIX).
FMNDX is managed by Fidelity. It was launched on Oct 15, 2013. FMBIX is managed by Fidelity. It was launched on Jul 11, 2019.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMNDX or FMBIX.
Key characteristics
| FMNDX | FMBIX | |
|---|---|---|
| YTD Return | 2.78% | 2.29% |
| 1Y Return | 4.13% | 7.34% |
| 3Y Return (Ann) | 2.13% | -0.67% |
| 5Y Return (Ann) | 1.59% | 0.65% |
| Sharpe Ratio | 3.69 | 1.96 |
| Daily Std Dev | 1.11% | 3.81% |
| Max Drawdown | -1.69% | -14.31% |
| Current Drawdown | 0.00% | -2.42% |
Correlation
The correlation between FMNDX and FMBIX is 0.46, 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. FMBIX - Performance Comparison
In the year-to-date period, FMNDX achieves a 2.78% return, which is significantly higher than FMBIX's 2.29% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FMNDX vs. FMBIX - Expense Ratio Comparison
FMNDX has a 0.25% expense ratio, which is higher than FMBIX's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
FMNDX vs. FMBIX - 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 Bond Index Fund (FMBIX). 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. FMBIX - Dividend Comparison
FMNDX's dividend yield for the trailing twelve months is around 3.23%, more than FMBIX's 2.44% 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% |
FMBIX Fidelity Municipal Bond Index Fund | 2.44% | 2.31% | 1.81% | 1.41% | 1.59% | 0.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FMNDX vs. FMBIX - Drawdown Comparison
The maximum FMNDX drawdown since its inception was -1.69%, smaller than the maximum FMBIX drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for FMNDX and FMBIX. For additional features, visit the drawdowns tool.
Volatility
FMNDX vs. FMBIX - Volatility Comparison
The current volatility for Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) is 0.29%, while Fidelity Municipal Bond Index Fund (FMBIX) has a volatility of 0.42%. This indicates that FMNDX experiences smaller price fluctuations and is considered to be less risky than FMBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.