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FUEMX vs. MUB
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

FUEMX vs. MUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX) and iShares National AMT-Free Muni Bond ETF (MUB). The values are adjusted to include any dividend payments, if applicable.

0.00%1.00%2.00%3.00%4.00%JuneJulyAugustSeptemberOctoberNovember
2.19%
3.22%
FUEMX
MUB

Returns By Period

In the year-to-date period, FUEMX achieves a 3.37% return, which is significantly higher than MUB's 1.69% return.


FUEMX

YTD

3.37%

1M

0.30%

6M

2.19%

1Y

4.09%

5Y (annualized)

1.92%

10Y (annualized)

N/A

MUB

YTD

1.69%

1M

0.52%

6M

3.13%

1Y

4.88%

5Y (annualized)

1.19%

10Y (annualized)

2.19%

Key characteristics


FUEMXMUB
Sharpe Ratio3.361.32
Sortino Ratio9.521.89
Omega Ratio3.311.25
Calmar Ratio13.340.86
Martin Ratio50.675.41
Ulcer Index0.08%0.94%
Daily Std Dev1.18%3.86%
Max Drawdown-1.99%-13.68%
Current Drawdown-0.00%-1.09%

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FUEMX vs. MUB - Expense Ratio Comparison

FUEMX has a 0.00% expense ratio, which is lower than MUB's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.


MUB
iShares National AMT-Free Muni Bond ETF
Expense ratio chart for MUB: current value at 0.07% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.07%
Expense ratio chart for FUEMX: current value at 0.00% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.00%

Correlation

-0.50.00.51.00.3

The correlation between FUEMX and MUB is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Risk-Adjusted Performance

FUEMX vs. MUB - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX) and iShares National AMT-Free Muni Bond ETF (MUB). 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 FUEMX, currently valued at 3.36, compared to the broader market-1.000.001.002.003.004.005.003.361.25
The chart of Sortino ratio for FUEMX, currently valued at 9.52, compared to the broader market0.005.0010.009.521.79
The chart of Omega ratio for FUEMX, currently valued at 3.31, compared to the broader market1.002.003.004.003.311.24
The chart of Calmar ratio for FUEMX, currently valued at 13.34, compared to the broader market0.005.0010.0015.0020.0013.340.89
The chart of Martin ratio for FUEMX, currently valued at 50.67, compared to the broader market0.0020.0040.0060.0080.00100.0050.675.07
FUEMX
MUB

The current FUEMX Sharpe Ratio is 3.36, which is higher than the MUB Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FUEMX and MUB, 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 Ratio0.001.002.003.004.00JuneJulyAugustSeptemberOctoberNovember
3.36
1.25
FUEMX
MUB

Dividends

FUEMX vs. MUB - Dividend Comparison

FUEMX's dividend yield for the trailing twelve months is around 3.49%, more than MUB's 2.94% yield.


TTM20232022202120202019201820172016201520142013
FUEMX
Fidelity Flex Conservative Income Municipal Bond Fund
3.49%3.16%1.21%0.55%1.28%1.93%2.29%0.22%0.00%0.00%0.00%0.00%
MUB
iShares National AMT-Free Muni Bond ETF
2.94%2.65%2.11%1.81%2.11%2.42%2.46%2.26%2.21%2.51%2.73%3.02%

Drawdowns

FUEMX vs. MUB - Drawdown Comparison

The maximum FUEMX drawdown since its inception was -1.99%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for FUEMX and MUB. For additional features, visit the drawdowns tool.


-5.00%-4.00%-3.00%-2.00%-1.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-0.00%
-1.09%
FUEMX
MUB

Volatility

FUEMX vs. MUB - Volatility Comparison

The current volatility for Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX) is 0.37%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.79%. This indicates that FUEMX experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%0.50%1.00%1.50%2.00%JuneJulyAugustSeptemberOctoberNovember
0.37%
1.79%
FUEMX
MUB