FMNDX vs. JPST
Compare and contrast key facts about Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and JPMorgan Ultra-Short Income ETF (JPST).
FMNDX is managed by Fidelity. It was launched on Oct 15, 2013. JPST is an actively managed fund by JPMorgan Chase. It was launched on May 17, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMNDX or JPST.
Key characteristics
| FMNDX | JPST | |
|---|---|---|
| YTD Return | 2.49% | 3.99% |
| 1Y Return | 4.11% | 6.33% |
| 3Y Return (Ann) | 2.05% | 3.35% |
| 5Y Return (Ann) | 1.51% | 2.68% |
| Sharpe Ratio | 3.53 | 12.54 |
| Daily Std Dev | 1.11% | 0.51% |
| Max Drawdown | -1.69% | -3.28% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between FMNDX and JPST is 0.12, 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.
Performance
FMNDX vs. JPST - Performance Comparison
In the year-to-date period, FMNDX achieves a 2.49% return, which is significantly lower than JPST's 3.99% 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. JPST - Expense Ratio Comparison
FMNDX has a 0.25% expense ratio, which is higher than JPST's 0.18% 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. JPST - 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 JPMorgan Ultra-Short Income ETF (JPST). 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. JPST - Dividend Comparison
FMNDX's dividend yield for the trailing twelve months is around 3.21%, less than JPST's 5.25% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMNDX Fidelity Conservative Income Municipal Bond Fund Institutional Class | 3.21% | 2.88% | 1.06% | 0.25% | 0.87% | 1.58% | 1.45% | 0.99% | 0.71% | 0.42% | 0.26% | 0.02% |
JPST JPMorgan Ultra-Short Income ETF | 5.25% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FMNDX vs. JPST - Drawdown Comparison
The maximum FMNDX drawdown since its inception was -1.69%, smaller than the maximum JPST drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for FMNDX and JPST. For additional features, visit the drawdowns tool.
Volatility
FMNDX vs. JPST - Volatility Comparison
Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) has a higher volatility of 0.29% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.19%. This indicates that FMNDX's price experiences larger fluctuations and is considered to be riskier than JPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.