FTFMX vs. FMBIX
Compare and contrast key facts about Fidelity New York Municipal Income Fund (FTFMX) and Fidelity Municipal Bond Index Fund (FMBIX).
FTFMX is managed by Fidelity. It was launched on Jul 10, 1984. FMBIX is managed by Fidelity. It was launched on Jul 11, 2019.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FTFMX or FMBIX.
Key characteristics
| FTFMX | FMBIX | |
|---|---|---|
| YTD Return | 1.18% | 0.77% |
| 1Y Return | 7.82% | 6.74% |
| 3Y Return (Ann) | -0.95% | -1.00% |
| 5Y Return (Ann) | 0.71% | 0.34% |
| Sharpe Ratio | 1.99 | 1.89 |
| Sortino Ratio | 2.92 | 2.76 |
| Omega Ratio | 1.45 | 1.43 |
| Calmar Ratio | 0.76 | 0.71 |
| Martin Ratio | 7.62 | 6.84 |
| Ulcer Index | 1.01% | 0.95% |
| Daily Std Dev | 3.88% | 3.43% |
| Max Drawdown | -19.44% | -14.31% |
| Current Drawdown | -3.89% | -3.87% |
Correlation
The correlation between FTFMX and FMBIX is 0.94, 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.
Performance
FTFMX vs. FMBIX - Performance Comparison
In the year-to-date period, FTFMX achieves a 1.18% return, which is significantly higher than FMBIX's 0.77% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FTFMX vs. FMBIX - Expense Ratio Comparison
FTFMX has a 0.46% expense ratio, which is higher than FMBIX's 0.07% expense ratio.
Risk-Adjusted Performance
FTFMX vs. FMBIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New York Municipal Income Fund (FTFMX) and Fidelity Municipal Bond Index Fund (FMBIX). 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
FTFMX vs. FMBIX - Dividend Comparison
FTFMX's dividend yield for the trailing twelve months is around 2.78%, more than FMBIX's 2.54% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTFMX Fidelity New York Municipal Income Fund | 2.78% | 2.63% | 2.48% | 2.16% | 2.30% | 2.46% | 2.68% | 2.78% | 3.03% | 4.05% | 3.42% | 3.58% |
FMBIX Fidelity Municipal Bond Index Fund | 2.54% | 2.31% | 1.80% | 1.42% | 1.59% | 0.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FTFMX vs. FMBIX - Drawdown Comparison
The maximum FTFMX drawdown since its inception was -19.44%, which is greater than FMBIX's maximum drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for FTFMX and FMBIX. For additional features, visit the drawdowns tool.
Volatility
FTFMX vs. FMBIX - Volatility Comparison
Fidelity New York Municipal Income Fund (FTFMX) has a higher volatility of 1.78% compared to Fidelity Municipal Bond Index Fund (FMBIX) at 1.60%. This indicates that FTFMX's price experiences larger fluctuations and is considered to be riskier than FMBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.