FSAZX vs. FXAIX
Compare and contrast key facts about Fidelity Arizona Municipal Income Fund (FSAZX) and Fidelity 500 Index Fund (FXAIX).
FSAZX is managed by Fidelity. It was launched on Oct 11, 1994. FXAIX is a passively managed fund by Fidelity that tracks the performance of the S&P 500 Index. It was launched on Feb 17, 1988.
Performance
FSAZX vs. FXAIX - Performance Comparison
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FSAZX vs. FXAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSAZX Fidelity Arizona Municipal Income Fund | -0.96% | 4.96% | 2.06% | 6.04% | -9.40% | 0.88% | 4.51% | 7.44% | 0.64% | 5.44% |
FXAIX Fidelity 500 Index Fund | -7.05% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Returns By Period
In the year-to-date period, FSAZX achieves a -0.96% return, which is significantly higher than FXAIX's -7.05% return. Over the past 10 years, FSAZX has underperformed FXAIX with an annualized return of 1.87%, while FXAIX has yielded a comparatively higher 13.75% annualized return.
FSAZX
- 1D
- 0.09%
- 1M
- -2.72%
- YTD
- -0.96%
- 6M
- 0.75%
- 1Y
- 3.55%
- 3Y*
- 3.19%
- 5Y*
- 0.76%
- 10Y*
- 1.87%
FXAIX
- 1D
- -0.39%
- 1M
- -7.68%
- YTD
- -7.05%
- 6M
- -4.59%
- 1Y
- 14.42%
- 3Y*
- 17.17%
- 5Y*
- 11.40%
- 10Y*
- 13.75%
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FSAZX vs. FXAIX - Expense Ratio Comparison
FSAZX has a 0.55% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Return for Risk
FSAZX vs. FXAIX — Risk / Return Rank
FSAZX
FXAIX
FSAZX vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Arizona Municipal Income Fund (FSAZX) and Fidelity 500 Index Fund (FXAIX). 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.
| FSAZX | FXAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.01 | 0.84 | +0.18 |
Sortino ratioReturn per unit of downside risk | 1.36 | 1.30 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.20 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.05 | +0.04 |
Martin ratioReturn relative to average drawdown | 3.54 | 5.13 | -1.59 |
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
| FSAZX | FXAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 0.84 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.68 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.77 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.16 | 0.75 | +0.41 |
Correlation
The correlation between FSAZX and FXAIX is -0.10. 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.
Dividends
FSAZX vs. FXAIX - Dividend Comparison
FSAZX's dividend yield for the trailing twelve months is around 2.68%, more than FXAIX's 1.20% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSAZX Fidelity Arizona Municipal Income Fund | 2.68% | 3.47% | 2.82% | 2.43% | 1.52% | 2.00% | 2.54% | 2.52% | 2.55% | 3.19% | 3.19% | 3.73% |
FXAIX Fidelity 500 Index Fund | 1.20% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
Drawdowns
FSAZX vs. FXAIX - Drawdown Comparison
The maximum FSAZX drawdown since its inception was -14.01%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FSAZX and FXAIX.
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Drawdown Indicators
| FSAZX | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.01% | -33.79% | +19.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -12.13% | +7.95% |
Max Drawdown (5Y)Largest decline over 5 years | -14.01% | -24.50% | +10.49% |
Max Drawdown (10Y)Largest decline over 10 years | -14.01% | -33.79% | +19.78% |
Current DrawdownCurrent decline from peak | -2.72% | -8.89% | +6.17% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -3.83% | +2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 2.50% | -1.20% |
Volatility
FSAZX vs. FXAIX - Volatility Comparison
The current volatility for Fidelity Arizona Municipal Income Fund (FSAZX) is 1.02%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.24%. This indicates that FSAZX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSAZX | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 4.24% | -3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 9.08% | -7.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.28% | 18.13% | -13.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.57% | 16.88% | -13.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 18.03% | -14.26% |