FMNDX vs. SGOV
Compare and contrast key facts about Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and iShares 0-3 Month Treasury Bond ETF (SGOV).
FMNDX is managed by Fidelity. It was launched on Oct 15, 2013. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Bill Index. It was launched on May 26, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMNDX or SGOV.
Key characteristics
FMNDX | SGOV | |
---|---|---|
YTD Return | 2.78% | 3.83% |
1Y Return | 4.13% | 5.46% |
3Y Return (Ann) | 2.13% | 3.51% |
Sharpe Ratio | 3.69 | 22.51 |
Daily Std Dev | 1.11% | 0.24% |
Max Drawdown | -1.69% | -0.03% |
Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between FMNDX and SGOV is 0.03, 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. SGOV - Performance Comparison
In the year-to-date period, FMNDX achieves a 2.78% return, which is significantly lower than SGOV's 3.83% 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. SGOV - Expense Ratio Comparison
FMNDX has a 0.25% expense ratio, which is higher than SGOV's 0.03% 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. SGOV - 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 iShares 0-3 Month Treasury Bond ETF (SGOV). 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. SGOV - Dividend Comparison
FMNDX's dividend yield for the trailing twelve months is around 3.23%, less than SGOV's 5.23% yield.
TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
iShares 0-3 Month Treasury Bond ETF | 5.23% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FMNDX vs. SGOV - Drawdown Comparison
The maximum FMNDX drawdown since its inception was -1.69%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for FMNDX and SGOV. For additional features, visit the drawdowns tool.
Volatility
FMNDX vs. SGOV - Volatility Comparison
Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) has a higher volatility of 0.29% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.08%. This indicates that FMNDX's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.