FMNDX vs. FNILX
Compare and contrast key facts about Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and Fidelity ZERO Large Cap Index Fund (FNILX).
FMNDX is managed by Fidelity. It was launched on Oct 15, 2013. FNILX is managed by Fidelity.
Performance
FMNDX vs. FNILX - Performance Comparison
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FMNDX vs. FNILX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FMNDX Fidelity Conservative Income Municipal Bond Fund Institutional Class | 0.30% | 3.31% | 3.04% | 3.37% | -0.09% | 0.03% | 0.86% | 2.00% | 0.54% |
FNILX Fidelity ZERO Large Cap Index Fund | -4.59% | 17.81% | 25.47% | 27.45% | -19.37% | 26.67% | 21.13% | 31.79% | -13.60% |
Returns By Period
In the year-to-date period, FMNDX achieves a 0.30% return, which is significantly higher than FNILX's -4.59% return.
FMNDX
- 1D
- 0.00%
- 1M
- -0.30%
- YTD
- 0.30%
- 6M
- 1.06%
- 1Y
- 2.67%
- 3Y*
- 3.04%
- 5Y*
- 1.98%
- 10Y*
- 1.55%
FNILX
- 1D
- 2.92%
- 1M
- -4.98%
- YTD
- -4.59%
- 6M
- -2.55%
- 1Y
- 17.28%
- 3Y*
- 18.57%
- 5Y*
- 11.53%
- 10Y*
- —
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FMNDX vs. FNILX - Expense Ratio Comparison
FMNDX has a 0.25% expense ratio, which is higher than FNILX's 0.00% 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%.
Return for Risk
FMNDX vs. FNILX — Risk / Return Rank
FMNDX
FNILX
FMNDX vs. FNILX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and Fidelity ZERO Large Cap Index Fund (FNILX). 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.
| FMNDX | FNILX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.85 | 0.97 | +1.89 |
Sortino ratioReturn per unit of downside risk | 6.52 | 1.48 | +5.04 |
Omega ratioGain probability vs. loss probability | 2.73 | 1.23 | +1.50 |
Calmar ratioReturn relative to maximum drawdown | 7.66 | 1.51 | +6.16 |
Martin ratioReturn relative to average drawdown | 29.05 | 7.14 | +21.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FMNDX | FNILX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 0.97 | +1.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.90 | 0.67 | +1.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.74 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.66 | 0.66 | +1.00 |
Correlation
The correlation between FMNDX and FNILX is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FMNDX vs. FNILX - Dividend Comparison
FMNDX's dividend yield for the trailing twelve months is around 2.64%, more than FNILX's 1.06% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMNDX Fidelity Conservative Income Municipal Bond Fund Institutional Class | 2.64% | 2.95% | 2.99% | 2.60% | 0.61% | 0.23% | 0.85% | 1.58% | 1.46% | 1.00% | 0.75% | 0.38% |
FNILX Fidelity ZERO Large Cap Index Fund | 1.06% | 1.01% | 1.09% | 1.34% | 1.53% | 0.95% | 1.20% | 1.17% | 0.53% | 0.00% | 0.00% | 0.00% |
Drawdowns
FMNDX vs. FNILX - Drawdown Comparison
The maximum FMNDX drawdown since its inception was -1.69%, smaller than the maximum FNILX drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FMNDX and FNILX.
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Drawdown Indicators
| FMNDX | FNILX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.69% | -33.76% | +32.07% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | -12.18% | +11.78% |
Max Drawdown (5Y)Largest decline over 5 years | -1.09% | -25.40% | +24.31% |
Max Drawdown (10Y)Largest decline over 10 years | -1.69% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -6.36% | +6.06% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -5.47% | +5.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 2.57% | -2.47% |
Volatility
FMNDX vs. FNILX - Volatility Comparison
The current volatility for Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) is 0.16%, while Fidelity ZERO Large Cap Index Fund (FNILX) has a volatility of 5.33%. This indicates that FMNDX experiences smaller price fluctuations and is considered to be less risky than FNILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMNDX | FNILX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 5.33% | -5.17% |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | 9.59% | -8.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.01% | 18.44% | -17.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.05% | 17.27% | -16.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.90% | 20.19% | -19.29% |