FTABX vs. FCSTX
Compare and contrast key facts about Fidelity Tax-Free Bond Fund (FTABX) and Fidelity California Limited Term Tax-Free Bond Fund (FCSTX).
FTABX is managed by Fidelity. It was launched on Apr 10, 2001. FCSTX is managed by Fidelity. It was launched on Oct 25, 2005.
Performance
FTABX vs. FCSTX - Performance Comparison
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FTABX vs. FCSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTABX Fidelity Tax-Free Bond Fund | -0.77% | 5.60% | 1.54% | 7.51% | -10.74% | 2.20% | 4.80% | 8.58% | 0.67% | 6.45% |
FCSTX Fidelity California Limited Term Tax-Free Bond Fund | -0.49% | 5.23% | 1.73% | 3.53% | -4.71% | 0.20% | 2.93% | 4.07% | 1.25% | 2.27% |
Returns By Period
In the year-to-date period, FTABX achieves a -0.77% return, which is significantly lower than FCSTX's -0.49% return. Over the past 10 years, FTABX has outperformed FCSTX with an annualized return of 2.29%, while FCSTX has yielded a comparatively lower 1.43% annualized return.
FTABX
- 1D
- 0.18%
- 1M
- -2.93%
- YTD
- -0.77%
- 6M
- 0.87%
- 1Y
- 4.33%
- 3Y*
- 3.49%
- 5Y*
- 0.93%
- 10Y*
- 2.29%
FCSTX
- 1D
- 0.00%
- 1M
- -1.88%
- YTD
- -0.49%
- 6M
- 0.09%
- 1Y
- 3.43%
- 3Y*
- 2.81%
- 5Y*
- 1.13%
- 10Y*
- 1.43%
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FTABX vs. FCSTX - Expense Ratio Comparison
FTABX has a 0.25% expense ratio, which is lower than FCSTX's 0.47% expense ratio.
Return for Risk
FTABX vs. FCSTX — Risk / Return Rank
FTABX
FCSTX
FTABX vs. FCSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Tax-Free Bond Fund (FTABX) and Fidelity California Limited Term Tax-Free Bond Fund (FCSTX). 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.
| FTABX | FCSTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.08 | 1.74 | -0.67 |
Sortino ratioReturn per unit of downside risk | 1.46 | 2.40 | -0.93 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.57 | -0.27 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.86 | -0.70 |
Martin ratioReturn relative to average drawdown | 4.03 | 7.27 | -3.23 |
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
| FTABX | FCSTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 1.74 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.54 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.65 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 1.23 | -0.19 |
Correlation
The correlation between FTABX and FCSTX 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.
Dividends
FTABX vs. FCSTX - Dividend Comparison
FTABX's dividend yield for the trailing twelve months is around 3.21%, more than FCSTX's 2.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTABX Fidelity Tax-Free Bond Fund | 3.21% | 4.18% | 2.81% | 2.90% | 2.16% | 2.27% | 2.64% | 2.94% | 3.01% | 3.49% | 4.22% | 3.29% |
FCSTX Fidelity California Limited Term Tax-Free Bond Fund | 2.22% | 2.85% | 2.00% | 1.68% | 1.01% | 1.22% | 1.68% | 1.72% | 1.71% | 1.58% | 1.89% | 1.63% |
Drawdowns
FTABX vs. FCSTX - Drawdown Comparison
The maximum FTABX drawdown since its inception was -16.14%, which is greater than FCSTX's maximum drawdown of -7.58%. Use the drawdown chart below to compare losses from any high point for FTABX and FCSTX.
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Drawdown Indicators
| FTABX | FCSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.14% | -7.58% | -8.56% |
Max Drawdown (1Y)Largest decline over 1 year | -4.74% | -2.21% | -2.53% |
Max Drawdown (5Y)Largest decline over 5 years | -16.14% | -7.58% | -8.56% |
Max Drawdown (10Y)Largest decline over 10 years | -16.14% | -7.58% | -8.56% |
Current DrawdownCurrent decline from peak | -2.93% | -1.88% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -0.92% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 0.57% | +0.79% |
Volatility
FTABX vs. FCSTX - Volatility Comparison
Fidelity Tax-Free Bond Fund (FTABX) has a higher volatility of 1.10% compared to Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) at 0.61%. This indicates that FTABX's price experiences larger fluctuations and is considered to be riskier than FCSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTABX | FCSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.61% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 1.77% | 1.00% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.84% | 2.31% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.12% | 2.08% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 2.20% | +2.07% |