FSMNX vs. FXIEX
Compare and contrast key facts about Fidelity SAI Municipal Income Fund (FSMNX) and PIMCO Fixed Income SHares: Series TE (FXIEX).
FSMNX is managed by Fidelity. It was launched on Oct 2, 2018. FXIEX is managed by PIMCO. It was launched on Jun 24, 2012.
Performance
FSMNX vs. FXIEX - Performance Comparison
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FSMNX vs. FXIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FSMNX Fidelity SAI Municipal Income Fund | -0.80% | 5.30% | 2.12% | 7.55% | -10.43% | 1.84% | 3.45% | 8.74% | 2.37% |
FXIEX PIMCO Fixed Income SHares: Series TE | -0.72% | 3.37% | 5.16% | 8.92% | -10.89% | 2.19% | 7.22% | 8.45% | 1.21% |
Returns By Period
In the year-to-date period, FSMNX achieves a -0.80% return, which is significantly lower than FXIEX's -0.72% return.
FSMNX
- 1D
- 0.10%
- 1M
- -2.97%
- YTD
- -0.80%
- 6M
- 0.67%
- 1Y
- 4.07%
- 3Y*
- 3.62%
- 5Y*
- 1.01%
- 10Y*
- —
FXIEX
- 1D
- 0.10%
- 1M
- -2.32%
- YTD
- -0.72%
- 6M
- 0.00%
- 1Y
- 2.29%
- 3Y*
- 4.64%
- 5Y*
- 1.48%
- 10Y*
- 2.74%
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FSMNX vs. FXIEX - Expense Ratio Comparison
FSMNX has a 0.36% expense ratio, which is higher than FXIEX's 0.07% expense ratio.
Return for Risk
FSMNX vs. FXIEX — Risk / Return Rank
FSMNX
FXIEX
FSMNX vs. FXIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Municipal Income Fund (FSMNX) and PIMCO Fixed Income SHares: Series TE (FXIEX). 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.
| FSMNX | FXIEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.05 | 0.74 | +0.31 |
Sortino ratioReturn per unit of downside risk | 1.43 | 1.06 | +0.37 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.19 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.05 | 0.48 | +0.56 |
Martin ratioReturn relative to average drawdown | 3.79 | 1.44 | +2.36 |
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
| FSMNX | FXIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 0.74 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.36 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.56 | 0.00 |
Correlation
The correlation between FSMNX and FXIEX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FSMNX vs. FXIEX - Dividend Comparison
FSMNX's dividend yield for the trailing twelve months is around 3.37%, more than FXIEX's 2.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSMNX Fidelity SAI Municipal Income Fund | 3.37% | 4.38% | 3.52% | 2.98% | 1.74% | 1.55% | 1.96% | 3.57% | 0.65% | 0.00% |
FXIEX PIMCO Fixed Income SHares: Series TE | 2.03% | 2.75% | 4.53% | 3.98% | 3.25% | 2.63% | 3.37% | 3.63% | 3.79% | 2.67% |
Drawdowns
FSMNX vs. FXIEX - Drawdown Comparison
The maximum FSMNX drawdown since its inception was -15.85%, roughly equal to the maximum FXIEX drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for FSMNX and FXIEX.
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Drawdown Indicators
| FSMNX | FXIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -15.25% | -0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -5.11% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -15.85% | -15.25% | -0.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.25% | — |
Current DrawdownCurrent decline from peak | -2.97% | -2.32% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -2.92% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.83% | -0.57% |
Volatility
FSMNX vs. FXIEX - Volatility Comparison
Fidelity SAI Municipal Income Fund (FSMNX) has a higher volatility of 1.11% compared to PIMCO Fixed Income SHares: Series TE (FXIEX) at 1.03%. This indicates that FSMNX's price experiences larger fluctuations and is considered to be riskier than FXIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMNX | FXIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 1.03% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 2.31% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.71% | 5.73% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.09% | 4.30% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.64% | 4.07% | +0.57% |