FSMUX vs. MIY
Compare and contrast key facts about Strategic Advisers Municipal Bond Fund (FSMUX) and BlackRock MuniYield Michigan Quality Fund (MIY).
FSMUX is managed by Fidelity. It was launched on Jun 24, 2021. MIY is an actively managed fund by BlackRock. It was launched on Oct 30, 1992.
Performance
FSMUX vs. MIY - Performance Comparison
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FSMUX vs. MIY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSMUX Strategic Advisers Municipal Bond Fund | -1.13% | 3.14% | 2.99% | 6.78% | -11.25% | 0.39% |
MIY BlackRock MuniYield Michigan Quality Fund | 2.55% | 11.24% | 3.48% | 6.60% | -24.10% | 2.54% |
Returns By Period
In the year-to-date period, FSMUX achieves a -1.13% return, which is significantly lower than MIY's 2.55% return.
FSMUX
- 1D
- 0.11%
- 1M
- -2.56%
- YTD
- -1.13%
- 6M
- 0.12%
- 1Y
- 2.39%
- 3Y*
- 2.93%
- 5Y*
- —
- 10Y*
- —
MIY
- 1D
- 1.54%
- 1M
- -5.15%
- YTD
- 2.55%
- 6M
- 8.25%
- 1Y
- 10.47%
- 3Y*
- 7.28%
- 5Y*
- 0.01%
- 10Y*
- 2.91%
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FSMUX vs. MIY - Expense Ratio Comparison
FSMUX has a 0.06% expense ratio, which is lower than MIY's 2.25% expense ratio.
Return for Risk
FSMUX vs. MIY — Risk / Return Rank
FSMUX
MIY
FSMUX vs. MIY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Municipal Bond Fund (FSMUX) and BlackRock MuniYield Michigan Quality Fund (MIY). 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.
| FSMUX | MIY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.63 | 0.93 | -0.30 |
Sortino ratioReturn per unit of downside risk | 0.87 | 1.38 | -0.50 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.18 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.28 | 1.39 | -1.11 |
Martin ratioReturn relative to average drawdown | 0.78 | 3.77 | -2.99 |
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
| FSMUX | MIY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 0.93 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.00 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.36 | -0.37 |
Correlation
The correlation between FSMUX and MIY is 0.40, 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
FSMUX vs. MIY - Dividend Comparison
FSMUX's dividend yield for the trailing twelve months is around 2.35%, less than MIY's 5.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMUX Strategic Advisers Municipal Bond Fund | 2.35% | 3.26% | 3.74% | 3.18% | 2.14% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MIY BlackRock MuniYield Michigan Quality Fund | 5.51% | 5.57% | 5.21% | 3.86% | 5.70% | 4.38% | 4.23% | 4.27% | 5.27% | 5.46% | 5.85% | 5.66% |
Drawdowns
FSMUX vs. MIY - Drawdown Comparison
The maximum FSMUX drawdown since its inception was -16.27%, smaller than the maximum MIY drawdown of -42.19%. Use the drawdown chart below to compare losses from any high point for FSMUX and MIY.
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Drawdown Indicators
| FSMUX | MIY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.27% | -42.19% | +25.92% |
Max Drawdown (1Y)Largest decline over 1 year | -5.30% | -8.12% | +2.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.59% | — |
Current DrawdownCurrent decline from peak | -2.56% | -6.70% | +4.14% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -8.33% | +2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 2.98% | -1.02% |
Volatility
FSMUX vs. MIY - Volatility Comparison
The current volatility for Strategic Advisers Municipal Bond Fund (FSMUX) is 0.99%, while BlackRock MuniYield Michigan Quality Fund (MIY) has a volatility of 4.61%. This indicates that FSMUX experiences smaller price fluctuations and is considered to be less risky than MIY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMUX | MIY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 4.61% | -3.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 8.67% | -6.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.65% | 11.34% | -4.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.67% | 11.43% | -6.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 11.83% | -7.16% |