Correlation
The correlation between FPXTX and FTABX is -0.11. 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.
FPXTX vs. FTABX
Compare and contrast key facts about Fidelity Pennsylvania Municipal Income Fund (FPXTX) and Fidelity Tax-Free Bond Fund (FTABX).
FPXTX is managed by Fidelity. It was launched on Aug 6, 1986. 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: FPXTX or FTABX.
Performance
FPXTX vs. FTABX - Performance Comparison
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Key characteristics
FPXTX:
0.44
FTABX:
0.40
FPXTX:
0.54
FTABX:
0.47
FPXTX:
1.09
FTABX:
1.08
FPXTX:
0.31
FTABX:
0.31
FPXTX:
1.14
FTABX:
1.01
FPXTX:
1.55%
FTABX:
1.79%
FPXTX:
4.57%
FTABX:
5.39%
FPXTX:
-16.21%
FTABX:
-15.53%
FPXTX:
-3.90%
FTABX:
-3.50%
Returns By Period
The year-to-date returns for both investments are quite close, with FPXTX having a -1.46% return and FTABX slightly higher at -1.45%. Over the past 10 years, FPXTX has underperformed FTABX with an annualized return of 1.98%, while FTABX has yielded a comparatively higher 2.40% annualized return.
FPXTX
-1.46%
-0.49%
-2.37%
2.01%
1.63%
0.57%
1.98%
FTABX
-1.45%
-0.47%
-2.54%
2.16%
1.96%
1.14%
2.40%
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FPXTX vs. FTABX - Expense Ratio Comparison
FPXTX has a 0.48% expense ratio, which is higher than FTABX's 0.25% expense ratio.
Risk-Adjusted Performance
FPXTX vs. FTABX — Risk-Adjusted Performance Rank
FPXTX
FTABX
FPXTX vs. FTABX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Pennsylvania Municipal Income Fund (FPXTX) 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
FPXTX vs. FTABX - Dividend Comparison
FPXTX's dividend yield for the trailing twelve months is around 2.93%, less than FTABX's 3.15% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPXTX Fidelity Pennsylvania Municipal Income Fund | 2.93% | 2.85% | 2.66% | 2.48% | 2.28% | 2.47% | 3.20% | 3.20% | 3.10% | 3.50% | 3.54% | 3.69% |
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
FPXTX vs. FTABX - Drawdown Comparison
The maximum FPXTX drawdown since its inception was -16.21%, roughly equal to the maximum FTABX drawdown of -15.53%. Use the drawdown chart below to compare losses from any high point for FPXTX and FTABX.
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Volatility
FPXTX vs. FTABX - Volatility Comparison
The current volatility for Fidelity Pennsylvania Municipal Income Fund (FPXTX) is 0.60%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 0.68%. This indicates that FPXTX 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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