FTABX vs. FHIGX
Compare and contrast key facts about Fidelity Tax-Free Bond Fund (FTABX) and Fidelity Municipal Income Fund (FHIGX).
FTABX is managed by Fidelity. It was launched on Apr 10, 2001. FHIGX is managed by Fidelity. It was launched on Dec 1, 1977.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FTABX or FHIGX.
Performance
FTABX vs. FHIGX - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with FTABX having a 2.34% return and FHIGX slightly lower at 2.33%. Over the past 10 years, FTABX has outperformed FHIGX with an annualized return of 2.47%, while FHIGX has yielded a comparatively lower 2.05% annualized return.
FTABX
2.34%
-0.10%
3.02%
6.94%
1.23%
2.47%
FHIGX
2.33%
-0.07%
2.91%
6.99%
0.95%
2.05%
Key characteristics
| FTABX | FHIGX | |
|---|---|---|
| Sharpe Ratio | 1.82 | 1.92 |
| Sortino Ratio | 2.70 | 2.88 |
| Omega Ratio | 1.42 | 1.44 |
| Calmar Ratio | 0.85 | 0.77 |
| Martin Ratio | 7.21 | 7.54 |
| Ulcer Index | 0.91% | 0.89% |
| Daily Std Dev | 3.57% | 3.48% |
| Max Drawdown | -15.78% | -16.91% |
| Current Drawdown | -2.07% | -2.80% |
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FTABX vs. FHIGX - Expense Ratio Comparison
FTABX has a 0.25% expense ratio, which is lower than FHIGX's 0.45% expense ratio.
Correlation
The correlation between FTABX and FHIGX is 0.92, 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
FTABX vs. FHIGX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Tax-Free Bond Fund (FTABX) and Fidelity Municipal Income Fund (FHIGX). 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.
Dividends
FTABX vs. FHIGX - Dividend Comparison
FTABX's dividend yield for the trailing twelve months is around 2.99%, more than FHIGX's 2.93% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FHIGX Fidelity Municipal Income Fund | 2.93% | 2.84% | 2.72% | 2.40% | 2.58% | 2.79% | 2.99% | 3.05% | 3.40% | 3.43% | 3.51% | 3.91% |
Drawdowns
FTABX vs. FHIGX - Drawdown Comparison
The maximum FTABX drawdown since its inception was -15.78%, smaller than the maximum FHIGX drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for FTABX and FHIGX. For additional features, visit the drawdowns tool.
Volatility
FTABX vs. FHIGX - Volatility Comparison
Fidelity Tax-Free Bond Fund (FTABX) has a higher volatility of 1.77% compared to Fidelity Municipal Income Fund (FHIGX) at 1.66%. This indicates that FTABX's price experiences larger fluctuations and is considered to be riskier than FHIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.