FMNDX vs. FTABX
Compare and contrast key facts about Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and Fidelity Tax-Free Bond Fund (FTABX).
FMNDX is managed by Fidelity. It was launched on Oct 15, 2013. FTABX is managed by Fidelity. It was launched on Apr 10, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMNDX or FTABX.
Key characteristics
| FMNDX | FTABX | |
|---|---|---|
| YTD Return | 2.78% | 2.48% |
| 1Y Return | 4.13% | 7.46% |
| 3Y Return (Ann) | 2.13% | -0.38% |
| 5Y Return (Ann) | 1.57% | 1.30% |
| 10Y Return (Ann) | 1.28% | 2.78% |
| Sharpe Ratio | 3.69 | 1.95 |
| Daily Std Dev | 1.11% | 4.00% |
| Max Drawdown | -1.69% | -15.54% |
| Current Drawdown | 0.00% | -1.66% |
Correlation
The correlation between FMNDX and FTABX is 0.41, 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. FTABX - Performance Comparison
In the year-to-date period, FMNDX achieves a 2.78% return, which is significantly higher than FTABX's 2.48% return. Over the past 10 years, FMNDX has underperformed FTABX with an annualized return of 1.28%, while FTABX has yielded a comparatively higher 2.78% 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. FTABX - Expense Ratio Comparison
Both FMNDX and FTABX have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
FMNDX vs. FTABX - 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 Tax-Free Bond Fund (FTABX). 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. FTABX - Dividend Comparison
FMNDX's dividend yield for the trailing twelve months is around 3.23%, more than FTABX's 2.97% 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% |
FTABX Fidelity Tax-Free Bond Fund | 2.97% | 2.90% | 2.86% | 2.68% | 2.97% | 2.94% | 3.21% | 3.49% | 3.92% | 3.58% | 3.62% | 3.86% |
Drawdowns
FMNDX vs. FTABX - Drawdown Comparison
The maximum FMNDX drawdown since its inception was -1.69%, smaller than the maximum FTABX drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for FMNDX and FTABX. For additional features, visit the drawdowns tool.
Volatility
FMNDX vs. FTABX - Volatility Comparison
The current volatility for Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) is 0.29%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 0.68%. This indicates that FMNDX experiences smaller price fluctuations and is considered to be less risky than FTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.