FSAZX vs. VTEB
Compare and contrast key facts about Fidelity Arizona Municipal Income Fund (FSAZX) and Vanguard Tax-Exempt Bond ETF (VTEB).
FSAZX is managed by Fidelity. It was launched on Oct 11, 1994. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Performance
FSAZX vs. VTEB - Performance Comparison
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FSAZX vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSAZX Fidelity Arizona Municipal Income Fund | -0.70% | 4.96% | 2.06% | 6.04% | -9.40% | 0.88% | 4.51% | 7.44% | 0.64% | 5.44% |
VTEB Vanguard Tax-Exempt Bond ETF | 0.09% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.04% | 4.87% |
Returns By Period
In the year-to-date period, FSAZX achieves a -0.70% return, which is significantly lower than VTEB's 0.09% return. Over the past 10 years, FSAZX has underperformed VTEB with an annualized return of 1.89%, while VTEB has yielded a comparatively higher 2.09% annualized return.
FSAZX
- 1D
- 0.26%
- 1M
- -2.22%
- YTD
- -0.70%
- 6M
- 0.92%
- 1Y
- 3.46%
- 3Y*
- 3.28%
- 5Y*
- 0.80%
- 10Y*
- 1.89%
VTEB
- 1D
- 0.32%
- 1M
- -1.61%
- YTD
- 0.09%
- 6M
- 1.54%
- 1Y
- 3.92%
- 3Y*
- 2.78%
- 5Y*
- 0.88%
- 10Y*
- 2.09%
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FSAZX vs. VTEB - Expense Ratio Comparison
FSAZX has a 0.55% expense ratio, which is higher than VTEB's 0.05% expense ratio.
Return for Risk
FSAZX vs. VTEB — Risk / Return Rank
FSAZX
VTEB
FSAZX vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Arizona Municipal Income Fund (FSAZX) and Vanguard Tax-Exempt Bond ETF (VTEB). 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 | VTEB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.99 | -0.08 |
Sortino ratioReturn per unit of downside risk | 1.21 | 1.25 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.25 | -0.16 |
Martin ratioReturn relative to average drawdown | 3.51 | 3.69 | -0.18 |
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 | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.99 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.23 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.40 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 0.45 | +0.71 |
Correlation
The correlation between FSAZX and VTEB is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FSAZX vs. VTEB - Dividend Comparison
FSAZX's dividend yield for the trailing twelve months is around 2.68%, less than VTEB's 3.37% 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.37% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Drawdowns
FSAZX vs. VTEB - Drawdown Comparison
The maximum FSAZX drawdown since its inception was -14.01%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for FSAZX and VTEB.
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Drawdown Indicators
| FSAZX | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.01% | -17.00% | +2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -3.45% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -14.01% | -12.64% | -1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -14.01% | -17.00% | +2.99% |
Current DrawdownCurrent decline from peak | -2.47% | -1.86% | -0.61% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -2.35% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.17% | +0.13% |
Volatility
FSAZX vs. VTEB - Volatility Comparison
The current volatility for Fidelity Arizona Municipal Income Fund (FSAZX) is 1.09%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.37%. This indicates that FSAZX experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSAZX | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.37% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 1.87% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.28% | 4.00% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.57% | 3.88% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 5.25% | -1.48% |