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FSTFX vs. FTABX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

FSTFX vs. FTABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Limited Term Municipal Income Fund (FSTFX) and Fidelity Tax-Free Bond Fund (FTABX). The values are adjusted to include any dividend payments, if applicable.

-1.00%0.00%1.00%2.00%3.00%4.00%5.00%JuneJulyAugustSeptemberOctoberNovember
2.91%
3.40%
FSTFX
FTABX

Returns By Period

In the year-to-date period, FSTFX achieves a 2.53% return, which is significantly higher than FTABX's 2.34% return. Over the past 10 years, FSTFX has underperformed FTABX with an annualized return of 1.32%, while FTABX has yielded a comparatively higher 2.47% annualized return.


FSTFX

YTD

2.53%

1M

0.47%

6M

2.91%

1Y

4.41%

5Y (annualized)

1.05%

10Y (annualized)

1.32%

FTABX

YTD

2.34%

1M

1.08%

6M

3.40%

1Y

6.64%

5Y (annualized)

1.23%

10Y (annualized)

2.47%

Key characteristics


FSTFXFTABX
Sharpe Ratio2.511.53
Sortino Ratio4.082.23
Omega Ratio1.671.35
Calmar Ratio1.580.81
Martin Ratio10.445.86
Ulcer Index0.40%0.91%
Daily Std Dev1.67%3.56%
Max Drawdown-7.38%-15.78%
Current Drawdown-0.49%-2.07%

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FSTFX vs. FTABX - Expense Ratio Comparison

FSTFX has a 0.37% expense ratio, which is higher than FTABX's 0.25% expense ratio.


FSTFX
Fidelity Limited Term Municipal Income Fund
Expense ratio chart for FSTFX: current value at 0.37% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.37%
Expense ratio chart for FTABX: current value at 0.25% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.25%

Correlation

-0.50.00.51.00.8

The correlation between FSTFX and FTABX is 0.75, 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.

Risk-Adjusted Performance

FSTFX vs. FTABX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Municipal Income Fund (FSTFX) and Fidelity Tax-Free Bond Fund (FTABX). 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.


Sharpe ratio
The chart of Sharpe ratio for FSTFX, currently valued at 2.33, compared to the broader market-1.000.001.002.003.004.005.002.331.53
The chart of Sortino ratio for FSTFX, currently valued at 3.69, compared to the broader market0.005.0010.003.692.23
The chart of Omega ratio for FSTFX, currently valued at 1.60, compared to the broader market1.002.003.004.001.601.35
The chart of Calmar ratio for FSTFX, currently valued at 1.57, compared to the broader market0.005.0010.0015.0020.001.570.81
The chart of Martin ratio for FSTFX, currently valued at 9.43, compared to the broader market0.0020.0040.0060.0080.00100.009.435.86
FSTFX
FTABX

The current FSTFX Sharpe Ratio is 2.51, which is higher than the FTABX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FSTFX and FTABX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio1.002.003.004.00JuneJulyAugustSeptemberOctoberNovember
2.33
1.53
FSTFX
FTABX

Dividends

FSTFX vs. FTABX - Dividend Comparison

FSTFX's dividend yield for the trailing twelve months is around 1.97%, less than FTABX's 2.99% yield.


TTM20232022202120202019201820172016201520142013
FSTFX
Fidelity Limited Term Municipal Income Fund
1.97%1.69%1.38%1.26%1.59%1.75%1.64%1.50%1.47%1.60%1.91%1.82%
FTABX
Fidelity Tax-Free Bond Fund
2.99%2.90%2.85%2.40%2.60%2.84%3.02%3.07%3.37%3.58%3.62%3.86%

Drawdowns

FSTFX vs. FTABX - Drawdown Comparison

The maximum FSTFX drawdown since its inception was -7.38%, smaller than the maximum FTABX drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for FSTFX and FTABX. For additional features, visit the drawdowns tool.


-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-0.49%
-2.07%
FSTFX
FTABX

Volatility

FSTFX vs. FTABX - Volatility Comparison

The current volatility for Fidelity Limited Term Municipal Income Fund (FSTFX) is 0.69%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 1.59%. This indicates that FSTFX experiences smaller price fluctuations and is considered to be less risky than FTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%JuneJulyAugustSeptemberOctoberNovember
0.69%
1.59%
FSTFX
FTABX