FSMNX vs. NMTRX
Compare and contrast key facts about Fidelity SAI Municipal Income Fund (FSMNX) and Nuveen Municipal Total Return Managed Accounts (NMTRX).
FSMNX is managed by Fidelity. It was launched on Oct 2, 2018. NMTRX is managed by BlackRock. It was launched on May 30, 2007.
Performance
FSMNX vs. NMTRX - Performance Comparison
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FSMNX vs. NMTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FSMNX Fidelity SAI Municipal Income Fund | -0.50% | 5.30% | 2.12% | 7.55% | -10.43% | 1.84% | 3.45% | 8.74% | 2.37% |
NMTRX Nuveen Municipal Total Return Managed Accounts | -0.12% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 2.67% |
Returns By Period
In the year-to-date period, FSMNX achieves a -0.50% return, which is significantly lower than NMTRX's -0.12% return.
FSMNX
- 1D
- 0.31%
- 1M
- -2.39%
- YTD
- -0.50%
- 6M
- 0.98%
- 1Y
- 4.07%
- 3Y*
- 3.72%
- 5Y*
- 1.05%
- 10Y*
- —
NMTRX
- 1D
- 0.20%
- 1M
- -1.97%
- YTD
- -0.12%
- 6M
- 1.65%
- 1Y
- 3.78%
- 3Y*
- 3.22%
- 5Y*
- 0.38%
- 10Y*
- 2.27%
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FSMNX vs. NMTRX - Expense Ratio Comparison
FSMNX has a 0.36% expense ratio, which is higher than NMTRX's 0.05% expense ratio.
Return for Risk
FSMNX vs. NMTRX — Risk / Return Rank
FSMNX
NMTRX
FSMNX vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Municipal Income Fund (FSMNX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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 | NMTRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.95 | 0.84 | +0.11 |
Sortino ratioReturn per unit of downside risk | 1.29 | 1.16 | +0.14 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.21 | 0.99 | +0.23 |
Martin ratioReturn relative to average drawdown | 4.35 | 2.89 | +1.46 |
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 | NMTRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 0.84 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.10 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.97 | -0.41 |
Correlation
The correlation between FSMNX and NMTRX is 0.88, 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. NMTRX - Dividend Comparison
FSMNX's dividend yield for the trailing twelve months is around 3.36%, less than NMTRX's 4.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMNX Fidelity SAI Municipal Income Fund | 3.36% | 4.38% | 3.52% | 2.98% | 1.74% | 1.55% | 1.96% | 3.57% | 0.65% | 0.00% | 0.00% | 0.00% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.19% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Drawdowns
FSMNX vs. NMTRX - Drawdown Comparison
The maximum FSMNX drawdown since its inception was -15.85%, roughly equal to the maximum NMTRX drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for FSMNX and NMTRX.
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Drawdown Indicators
| FSMNX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -16.36% | +0.51% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -4.75% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -15.85% | -16.36% | +0.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.36% | — |
Current DrawdownCurrent decline from peak | -2.68% | -2.25% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -2.93% | -0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 1.62% | -0.35% |
Volatility
FSMNX vs. NMTRX - Volatility Comparison
Fidelity SAI Municipal Income Fund (FSMNX) has a higher volatility of 1.18% compared to Nuveen Municipal Total Return Managed Accounts (NMTRX) at 1.07%. This indicates that FSMNX's price experiences larger fluctuations and is considered to be riskier than NMTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMNX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.07% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 1.82% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.71% | 4.93% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.09% | 3.97% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.64% | 4.38% | +0.26% |