FSTFX vs. MTUM
FSTFX (Fidelity Limited Term Municipal Income Fund) and MTUM (iShares MSCI USA Momentum Factor ETF) are both funds - FSTFX is a Municipal Bonds fund managed by Fidelity, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Over the past 10 years, FSTFX returned 1.57%/yr vs 15.71%/yr for MTUM. Their 0.01 correlation means their historical movements had little consistent relationship. FSTFX charges 0.37%/yr vs 0.15%/yr for MTUM.
Performance
FSTFX vs. MTUM - Performance Comparison
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Returns By Period
In the year-to-date period, FSTFX achieves a 0.40% return, which is significantly lower than MTUM's 19.93% return. Over the past 10 years, FSTFX has underperformed MTUM with an annualized return of 1.57%, while MTUM has yielded a comparatively higher 15.71% annualized return.
FSTFX
- 1D
- -0.09%
- 1M
- -0.75%
- 6M
- -0.27%
- YTD
- 0.40%
- 1Y
- 2.01%
- 3Y*
- 3.52%
- 5Y*
- 1.25%
- 10Y*
- 1.57%
- ALL TIME*
- 3.05%
MTUM
- 1D
- 0.27%
- 1M
- -5.35%
- 6M
- 17.31%
- YTD
- 19.93%
- 1Y
- 26.36%
- 3Y*
- 27.89%
- 5Y*
- 12.62%
- 10Y*
- 15.71%
- ALL TIME*
- 15.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $558.09M | $637.73M | $538.11M |
FSTFX vs. MTUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSTFX Fidelity Limited Term Municipal Income Fund | 0.40% | 5.36% | 2.36% | 3.85% | -4.90% | 0.15% | 3.23% | 4.19% | 1.28% | 2.35% |
MTUM iShares MSCI USA Momentum Factor ETF | 19.93% | 22.15% | 32.89% | 9.15% | -18.27% | 13.36% | 29.86% | 27.25% | -1.67% | 37.50% |
Correlation
The correlation between FSTFX and MTUM is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013 | 0.01 |
The correlation between FSTFX and MTUM shifts across timeframes, from 0.01 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FSTFX vs. MTUM — Risk / Return Rank
FSTFX
MTUM
FSTFX vs. MTUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Municipal Income Fund (FSTFX) and iShares MSCI USA Momentum Factor ETF (MTUM). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FSTFX | MTUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.19 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.40 | +0.22 |
| Martin ratioReturn relative to average drawdown | 4.65 | 5.72 | -1.08 |
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Drawdowns
FSTFX vs. MTUM - Drawdown Comparison
The maximum FSTFX drawdown since its inception was -9.50%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for FSTFX and MTUM.
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Drawdown Indicators
| FSTFX | MTUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.50% | -34.08% | +24.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -17.99% | +16.50% |
Max Drawdown (3Y)Largest decline over 3 years | -2.00% | -20.99% | +18.99% |
Max Drawdown (5Y)Largest decline over 5 years | -7.65% | -32.28% | +24.63% |
Max Drawdown (10Y)Largest decline over 10 years | -7.65% | -34.08% | +26.43% |
Current DrawdownCurrent decline from peak | -0.92% | -13.22% | +12.30% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -6.22% | +5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 4.39% | -3.87% |
Volatility
FSTFX vs. MTUM - Volatility Comparison
The current volatility for Fidelity Limited Term Municipal Income Fund (FSTFX) is 0.40%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.22%. This indicates that FSTFX experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSTFX | MTUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 11.22% | -10.82% |
Volatility (6M)Calculated over the trailing 6-month period | 1.11% | 23.33% | -22.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.40% | 25.53% | -24.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.94% | 21.89% | -19.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.05% | 21.72% | -19.67% |
FSTFX vs. MTUM - Expense Ratio Comparison
FSTFX has a 0.37% expense ratio, which is higher than MTUM's 0.15% expense ratio.
Dividends
FSTFX vs. MTUM - Dividend Comparison
FSTFX's dividend yield for the trailing twelve months is around 2.29%, more than MTUM's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSTFX Fidelity Limited Term Municipal Income Fund | 2.29% | 2.99% | 2.03% | 1.70% | 0.92% | 1.08% | 1.58% | 1.92% | 1.65% | 1.56% | 1.60% | 1.62% |
MTUM iShares MSCI USA Momentum Factor ETF | 0.62% | 0.91% | 0.75% | 1.35% | 1.80% | 0.55% | 0.83% | 1.48% | 1.27% | 1.02% | 1.43% | 1.12% |
Frequently Asked Questions
FSTFX and MTUM have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUM has higher volatility (11.22%) compared to FSTFX (0.40%). In terms of maximum drawdown, FSTFX dropped -9.50% vs MTUM's -34.08%.
FSTFX currently has the higher Sharpe Ratio (1.72 vs 0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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