FQTHX vs. CXHYX
FQTHX (Franklin Templeton SMACS: Series H) and CXHYX (Delaware National High-Yield Municipal Bond Fund) are both High Yield Muni funds. Over the past 5 years, FQTHX returned 1.91%/yr vs 0.16%/yr for CXHYX. Their correlation of 0.85 means they have usually moved in the same direction. FQTHX charges 0.00%/yr vs 0.85%/yr for CXHYX.
Performance
FQTHX vs. CXHYX - Performance Comparison
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Returns By Period
In the year-to-date period, FQTHX achieves a 1.87% return, which is significantly higher than CXHYX's 0.95% return.
FQTHX
- 1D
- -0.43%
- 1M
- -2.24%
- 6M
- 1.12%
- YTD
- 1.87%
- 1Y
- 8.26%
- 3Y*
- 6.64%
- 5Y*
- 1.91%
- 10Y*
- —
- ALL TIME*
- 3.08%
CXHYX
- 1D
- -0.42%
- 1M
- -2.25%
- 6M
- 0.21%
- YTD
- 0.95%
- 1Y
- 5.61%
- 3Y*
- 4.12%
- 5Y*
- 0.16%
- 10Y*
- 3.10%
- ALL TIME*
- 4.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FQTHX vs. CXHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FQTHX Franklin Templeton SMACS: Series H | 1.87% | 5.94% | 8.76% | 8.88% | -14.00% | 6.04% | 4.90% | 1.65% |
CXHYX Delaware National High-Yield Municipal Bond Fund | 0.95% | 1.71% | 5.76% | 8.26% | -14.85% | 7.86% | 6.49% | 4.74% |
Correlation
The correlation between FQTHX and CXHYX is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2019 | 0.85 |
The correlation between FQTHX and CXHYX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.
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Return for Risk
FQTHX vs. CXHYX — Risk / Return Rank
FQTHX
CXHYX
FQTHX vs. CXHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Templeton SMACS: Series H (FQTHX) and Delaware National High-Yield Municipal Bond Fund (CXHYX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FQTHX | CXHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.37 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.19 | +0.71 |
| Martin ratioReturn relative to average drawdown | 10.89 | 7.88 | +3.01 |
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Drawdowns
FQTHX vs. CXHYX - Drawdown Comparison
The maximum FQTHX drawdown since its inception was -18.96%, smaller than the maximum CXHYX drawdown of -21.82%. Use the drawdown chart below to compare losses from any high point for FQTHX and CXHYX.
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Drawdown Indicators
| FQTHX | CXHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.96% | -21.82% | +2.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.30% | -3.16% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -7.19% | -8.33% | +1.14% |
Max Drawdown (5Y)Largest decline over 5 years | -18.96% | -20.11% | +1.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.11% | — |
Current DrawdownCurrent decline from peak | -2.24% | -2.35% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -2.57% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.88% | 0.00% |
Volatility
FQTHX vs. CXHYX - Volatility Comparison
Franklin Templeton SMACS: Series H (FQTHX) and Delaware National High-Yield Municipal Bond Fund (CXHYX) have volatilities of 1.18% and 1.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FQTHX | CXHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.14% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 3.02% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.76% | 3.98% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.39% | 6.10% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.03% | 5.81% | +0.22% |
FQTHX vs. CXHYX - Expense Ratio Comparison
FQTHX has a 0.00% expense ratio, which is lower than CXHYX's 0.85% expense ratio.
Dividends
FQTHX vs. CXHYX - Dividend Comparison
FQTHX's dividend yield for the trailing twelve months is around 4.74%, more than CXHYX's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXHYX Delaware National High-Yield Municipal Bond Fund | 4.69% | 6.41% | 5.43% | 3.99% | 4.94% | 3.61% | 4.42% | 5.27% | 4.92% | 4.98% | 3.87% | 3.77% |
FQTHX Franklin Templeton SMACS: Series H | 4.74% | 6.76% | 5.86% | 3.67% | 3.82% | 3.03% | 3.05% | 1.43% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FQTHX and CXHYX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FQTHX has higher volatility (1.18%) compared to CXHYX (1.14%). In terms of maximum drawdown, FQTHX dropped -18.96% vs CXHYX's -21.82%.
FQTHX currently has the higher Sharpe Ratio (2.55 vs 1.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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