Correlation
The correlation between FPNIX and FTABX is -0.08. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
FPNIX vs. FTABX
Compare and contrast key facts about FPA New Income Fund (FPNIX) and Fidelity Tax-Free Bond Fund (FTABX).
FPNIX is managed by FPA. It was launched on Jul 11, 1984. 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: FPNIX or FTABX.
Performance
FPNIX vs. FTABX - Performance Comparison
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Key characteristics
FPNIX:
2.15
FTABX:
0.26
FPNIX:
3.28
FTABX:
0.37
FPNIX:
1.42
FTABX:
1.06
FPNIX:
3.25
FTABX:
0.24
FPNIX:
7.62
FTABX:
0.81
FPNIX:
0.82%
FTABX:
1.74%
FPNIX:
3.03%
FTABX:
5.41%
FPNIX:
-5.13%
FTABX:
-15.53%
FPNIX:
-0.70%
FTABX:
-3.68%
Returns By Period
In the year-to-date period, FPNIX achieves a 2.72% return, which is significantly higher than FTABX's -1.63% return. Over the past 10 years, FPNIX has outperformed FTABX with an annualized return of 2.58%, while FTABX has yielded a comparatively lower 2.40% annualized return.
FPNIX
2.72%
-0.20%
2.60%
6.47%
4.73%
3.02%
2.58%
FTABX
-1.63%
0.18%
-2.20%
1.40%
2.70%
1.20%
2.40%
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FPNIX vs. FTABX - Expense Ratio Comparison
FPNIX has a 0.45% expense ratio, which is higher than FTABX's 0.25% expense ratio.
Risk-Adjusted Performance
FPNIX vs. FTABX — Risk-Adjusted Performance Rank
FPNIX
FTABX
FPNIX vs. FTABX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for FPA New Income Fund (FPNIX) 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.
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Dividends
FPNIX vs. FTABX - Dividend Comparison
FPNIX's dividend yield for the trailing twelve months is around 4.31%, more than FTABX's 3.15% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPNIX FPA New Income Fund | 4.31% | 4.39% | 4.39% | 2.12% | 1.21% | 2.18% | 2.64% | 3.10% | 2.84% | 2.31% | 1.87% | 2.82% |
FTABX Fidelity Tax-Free Bond Fund | 3.15% | 3.03% | 2.90% | 2.87% | 2.67% | 2.86% | 2.94% | 3.22% | 3.49% | 3.92% | 3.58% | 3.62% |
Drawdowns
FPNIX vs. FTABX - Drawdown Comparison
The maximum FPNIX drawdown since its inception was -5.13%, smaller than the maximum FTABX drawdown of -15.53%. Use the drawdown chart below to compare losses from any high point for FPNIX and FTABX.
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Volatility
FPNIX vs. FTABX - Volatility Comparison
The current volatility for FPA New Income Fund (FPNIX) is 0.86%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 0.98%. This indicates that FPNIX 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.
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