FMNDX vs. VWSUX
Compare and contrast key facts about Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) and Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX).
FMNDX is managed by Fidelity. It was launched on Oct 15, 2013. VWSUX is managed by Vanguard. It was launched on Feb 12, 2001.
Performance
FMNDX vs. VWSUX - Performance Comparison
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FMNDX vs. VWSUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 1.58% | 1.10% |
VWSUX Vanguard Short-Term Tax-Exempt Fund Admiral Shares | 0.30% | 4.90% | 3.77% | 3.70% | -0.73% | 0.19% | 1.91% | 2.59% | 1.67% | 1.10% |
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with FMNDX at 0.30% and VWSUX at 0.30%. Over the past 10 years, FMNDX has underperformed VWSUX with an annualized return of 1.55%, while VWSUX has yielded a comparatively higher 1.94% annualized 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%
VWSUX
- 1D
- 0.06%
- 1M
- -0.50%
- YTD
- 0.30%
- 6M
- 0.98%
- 1Y
- 3.57%
- 3Y*
- 3.86%
- 5Y*
- 2.40%
- 10Y*
- 1.94%
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FMNDX vs. VWSUX - Expense Ratio Comparison
FMNDX has a 0.25% expense ratio, which is higher than VWSUX's 0.09% 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. VWSUX — Risk / Return Rank
FMNDX
VWSUX
FMNDX vs. VWSUX - 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 Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX). 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 | VWSUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.85 | 2.59 | +0.26 |
Sortino ratioReturn per unit of downside risk | 6.52 | 4.85 | +1.68 |
Omega ratioGain probability vs. loss probability | 2.73 | 2.16 | +0.57 |
Calmar ratioReturn relative to maximum drawdown | 7.66 | 4.22 | +3.45 |
Martin ratioReturn relative to average drawdown | 29.05 | 18.88 | +10.17 |
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 | VWSUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 2.59 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.90 | 2.01 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.74 | 1.75 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.66 | 2.04 | -0.38 |
Correlation
The correlation between FMNDX and VWSUX is 0.48, 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.
Dividends
FMNDX vs. VWSUX - Dividend Comparison
FMNDX's dividend yield for the trailing twelve months is around 2.64%, less than VWSUX's 3.19% 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% |
VWSUX Vanguard Short-Term Tax-Exempt Fund Admiral Shares | 3.19% | 4.00% | 3.82% | 2.27% | 1.24% | 0.63% | 1.26% | 1.79% | 1.53% | 1.16% | 0.97% | 0.78% |
Drawdowns
FMNDX vs. VWSUX - Drawdown Comparison
The maximum FMNDX drawdown since its inception was -1.69%, smaller than the maximum VWSUX drawdown of -3.08%. Use the drawdown chart below to compare losses from any high point for FMNDX and VWSUX.
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Drawdown Indicators
| FMNDX | VWSUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.69% | -3.08% | +1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | -1.01% | +0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -1.09% | -2.23% | +1.14% |
Max Drawdown (10Y)Largest decline over 10 years | -1.69% | -3.08% | +1.39% |
Current DrawdownCurrent decline from peak | -0.30% | -0.63% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -0.15% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 0.23% | -0.13% |
Volatility
FMNDX vs. VWSUX - Volatility Comparison
The current volatility for Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) is 0.16%, while Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) has a volatility of 0.28%. This indicates that FMNDX experiences smaller price fluctuations and is considered to be less risky than VWSUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMNDX | VWSUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 0.28% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | 0.76% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.01% | 1.53% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.05% | 1.20% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.90% | 1.11% | -0.21% |