FOHFX vs. DFSMX
Compare and contrast key facts about Fidelity Ohio Municipal Income Fund (FOHFX) and DFA Short Term Municipal Bond Portfolio (DFSMX).
FOHFX is managed by Fidelity. It was launched on Nov 15, 1985. DFSMX is managed by Dimensional. It was launched on Aug 19, 2002.
Performance
FOHFX vs. DFSMX - Performance Comparison
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FOHFX vs. DFSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FOHFX Fidelity Ohio Municipal Income Fund | -0.80% | 5.55% | 2.00% | 5.43% | -9.28% | 1.18% | 4.10% | 7.08% | 0.40% | 6.03% |
DFSMX DFA Short Term Municipal Bond Portfolio | 0.55% | 2.30% | 2.84% | 2.98% | -0.36% | -0.11% | 0.83% | 1.62% | 1.22% | 1.15% |
Returns By Period
In the year-to-date period, FOHFX achieves a -0.80% return, which is significantly lower than DFSMX's 0.55% return. Over the past 10 years, FOHFX has outperformed DFSMX with an annualized return of 1.88%, while DFSMX has yielded a comparatively lower 1.23% annualized return.
FOHFX
- 1D
- 0.18%
- 1M
- -2.81%
- YTD
- -0.80%
- 6M
- 1.15%
- 1Y
- 4.34%
- 3Y*
- 3.22%
- 5Y*
- 0.82%
- 10Y*
- 1.88%
DFSMX
- 1D
- 0.04%
- 1M
- -0.05%
- YTD
- 0.55%
- 6M
- 1.10%
- 1Y
- 2.45%
- 3Y*
- 2.60%
- 5Y*
- 1.63%
- 10Y*
- 1.23%
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FOHFX vs. DFSMX - Expense Ratio Comparison
FOHFX has a 0.48% expense ratio, which is higher than DFSMX's 0.20% expense ratio.
Return for Risk
FOHFX vs. DFSMX — Risk / Return Rank
FOHFX
DFSMX
FOHFX vs. DFSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Ohio Municipal Income Fund (FOHFX) and DFA Short Term Municipal Bond Portfolio (DFSMX). 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.
| FOHFX | DFSMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.14 | 3.68 | -2.54 |
Sortino ratioReturn per unit of downside risk | 1.54 | 6.50 | -4.96 |
Omega ratioGain probability vs. loss probability | 1.32 | 3.20 | -1.88 |
Calmar ratioReturn relative to maximum drawdown | 1.24 | 4.59 | -3.36 |
Martin ratioReturn relative to average drawdown | 4.36 | 21.83 | -17.47 |
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
| FOHFX | DFSMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 3.68 | -2.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 2.11 | -1.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 1.60 | -1.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 1.78 | -0.63 |
Correlation
The correlation between FOHFX and DFSMX 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.
Dividends
FOHFX vs. DFSMX - Dividend Comparison
FOHFX's dividend yield for the trailing twelve months is around 2.82%, more than DFSMX's 2.43% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOHFX Fidelity Ohio Municipal Income Fund | 2.82% | 3.66% | 2.77% | 2.48% | 1.49% | 1.74% | 2.79% | 2.77% | 2.96% | 3.42% | 3.70% | 3.66% |
DFSMX DFA Short Term Municipal Bond Portfolio | 2.43% | 2.08% | 2.80% | 1.94% | 0.63% | 0.19% | 0.83% | 1.22% | 1.11% | 0.95% | 0.94% | 0.95% |
Drawdowns
FOHFX vs. DFSMX - Drawdown Comparison
The maximum FOHFX drawdown since its inception was -22.25%, which is greater than DFSMX's maximum drawdown of -2.66%. Use the drawdown chart below to compare losses from any high point for FOHFX and DFSMX.
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Drawdown Indicators
| FOHFX | DFSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.25% | -2.66% | -19.59% |
Max Drawdown (1Y)Largest decline over 1 year | -4.30% | -0.39% | -3.91% |
Max Drawdown (5Y)Largest decline over 5 years | -13.87% | -1.67% | -12.20% |
Max Drawdown (10Y)Largest decline over 10 years | -13.87% | -1.69% | -12.18% |
Current DrawdownCurrent decline from peak | -2.81% | -0.06% | -2.75% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -0.24% | -2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 0.10% | +1.12% |
Volatility
FOHFX vs. DFSMX - Volatility Comparison
Fidelity Ohio Municipal Income Fund (FOHFX) has a higher volatility of 1.05% compared to DFA Short Term Municipal Bond Portfolio (DFSMX) at 0.11%. This indicates that FOHFX's price experiences larger fluctuations and is considered to be riskier than DFSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOHFX | DFSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.11% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 0.37% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 0.68% | +3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 0.78% | +2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 0.77% | +3.00% |