FQTHX vs. FDUAX

Last updated Jul 14, 2026

FQTHX (Franklin Templeton SMACS: Series H) and FDUAX (First Eagle Short Duration High Yield Municipal Fund Class A) are both High Yield Muni funds. Over the past year, FQTHX returned 9.91% vs 3.08% for FDUAX. A 0.73 correlation means they provide meaningful diversification when combined. FQTHX charges 0.00%/yr vs 0.87%/yr for FDUAX.

Performance

FQTHX vs. FDUAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Templeton SMACS: Series H (FQTHX) and First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FQTHX achieves a 3.64% return, which is significantly higher than FDUAX's 2.49% return.

FQTHX

• 1D: 0.00%
• 1M: 0.74%
• 6M: 3.20%
• YTD: 3.64%
• 1Y: 9.91%
• 3Y*: 7.75%
• 5Y*: 2.39%
• 10Y*: —

FDUAX

• 1D: 0.00%
• 1M: 0.65%
• 6M: 2.08%
• YTD: 2.49%
• 1Y: 3.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FQTHX vs. FDUAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FQTHX Franklin Templeton SMACS: Series H	3.64%	5.94%	8.76%
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	2.49%	1.20%	6.66%

Correlation

The correlation between FQTHX and FDUAX is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024	0.73

The correlation between FQTHX and FDUAX shifts across timeframes, from 0.61 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FQTHX vs. FDUAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FQTHX

FQTHX Risk / Return Rank: 89
FQTHX Sharpe Ratio Rank: 94
FQTHX Sortino Ratio Rank: 95
FQTHX Omega Ratio Rank: 94
FQTHX Calmar Ratio Rank: 81
FQTHX Martin Ratio Rank: 81

FDUAX

FDUAX Risk / Return Rank: 17
FDUAX Sharpe Ratio Rank: 15
FDUAX Sortino Ratio Rank: 13
FDUAX Omega Ratio Rank: 26
FDUAX Calmar Ratio Rank: 14
FDUAX Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FQTHX vs. FDUAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Templeton SMACS: Series H (FQTHX) and First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX). 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	FDUAX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	0.78	+1.83
Sortino ratio: Return per unit of downside risk	4.24	1.08	+3.16
Omega ratio: Gain probability vs. loss probability	1.64	1.20	+0.44
Calmar ratio: Return relative to maximum drawdown	2.95	0.93	+2.02
Martin ratio: Return relative to average drawdown	11.45	2.98	+8.47

FQTHX vs. FDUAX - Sharpe Ratio Comparison

The current FQTHX Sharpe Ratio is 2.61, which is higher than the FDUAX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of FQTHX and FDUAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FQTHX vs. FDUAX - Drawdown Comparison

The maximum FQTHX drawdown since its inception was -18.96%, which is greater than FDUAX's maximum drawdown of -3.96%. Use the drawdown chart below to compare losses from any high point for FQTHX and FDUAX.

Drawdown Indicators

	FQTHX	FDUAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-3.96%	-15.00%
Max Drawdown (1Y) Largest decline over 1 year	-3.30%	-1.99%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	-7.78%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	—	—
Current Drawdown Current decline from peak	-0.53%	-0.30%	-0.23%
Average Drawdown Average peak-to-trough decline	-4.64%	-0.69%	-3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.02%	-0.13%

Volatility

FQTHX vs. FDUAX - Volatility Comparison

Franklin Templeton SMACS: Series H (FQTHX) has a higher volatility of 0.72% compared to First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) at 0.57%. This indicates that FQTHX's price experiences larger fluctuations and is considered to be riskier than FDUAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FQTHX	FDUAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	0.57%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	2.79%	1.79%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.74%	3.18%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.36%	3.22%	+2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.04%	3.22%	+2.82%

FQTHX vs. FDUAX - Expense Ratio Comparison

FQTHX has a 0.00% expense ratio, which is lower than FDUAX's 0.87% expense ratio.

Dividends

FQTHX vs. FDUAX - Dividend Comparison

FQTHX's dividend yield for the trailing twelve months is around 5.09%, less than FDUAX's 5.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	5.23%	4.83%	3.84%	0.00%	0.00%	0.00%	0.00%	0.00%
FQTHX Franklin Templeton SMACS: Series H	5.09%	6.76%	5.86%	3.67%	3.82%	3.03%	3.05%	1.43%

Frequently Asked Questions

Can I hold both FQTHX and FDUAX in my portfolio?

FQTHX and FDUAX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FQTHX or FDUAX?

FQTHX has higher volatility (0.72%) compared to FDUAX (0.57%). In terms of maximum drawdown, FQTHX dropped -18.96% vs FDUAX's -3.96%.

Which has better risk-adjusted returns?

FQTHX currently has the higher Sharpe Ratio (2.61 vs 0.78), 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.