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FUENX vs. FIPDX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

Performance

FUENX vs. FIPDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Municipal Income Fund (FUENX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). The values are adjusted to include any dividend payments, if applicable.

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FUENX vs. FIPDX - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
FUENX
Fidelity Flex Municipal Income Fund
-0.50%4.63%2.32%7.27%-9.29%1.99%3.07%8.27%0.72%1.02%
FIPDX
Fidelity Inflation-Protected Bond Index Fund
0.33%6.90%2.00%3.77%-12.09%5.94%10.90%8.32%-1.37%1.42%

Returns By Period

In the year-to-date period, FUENX achieves a -0.50% return, which is significantly lower than FIPDX's 0.33% return.


FUENX

1D
0.20%
1M
-2.57%
YTD
-0.50%
6M
1.16%
1Y
4.40%
3Y*
3.50%
5Y*
1.18%
10Y*

FIPDX

1D
0.55%
1M
-1.40%
YTD
0.33%
6M
0.37%
1Y
2.97%
3Y*
3.15%
5Y*
1.44%
10Y*
2.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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FUENX vs. FIPDX - Expense Ratio Comparison

FUENX has a 0.00% expense ratio, which is lower than FIPDX's 0.05% 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%.


Return for Risk

FUENX vs. FIPDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FUENX
FUENX Risk / Return Rank: 5858
Overall Rank
FUENX Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
FUENX Sortino Ratio Rank: 5959
Sortino Ratio Rank
FUENX Omega Ratio Rank: 8080
Omega Ratio Rank
FUENX Calmar Ratio Rank: 4646
Calmar Ratio Rank
FUENX Martin Ratio Rank: 3838
Martin Ratio Rank

FIPDX
FIPDX Risk / Return Rank: 4242
Overall Rank
FIPDX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
FIPDX Sortino Ratio Rank: 3636
Sortino Ratio Rank
FIPDX Omega Ratio Rank: 3131
Omega Ratio Rank
FIPDX Calmar Ratio Rank: 6060
Calmar Ratio Rank
FIPDX Martin Ratio Rank: 4242
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FUENX vs. FIPDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Municipal Income Fund (FUENX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.


FUENXFIPDXDifference

Sharpe ratio

Return per unit of total volatility

1.13

0.83

+0.30

Sortino ratio

Return per unit of downside risk

1.52

1.17

+0.36

Omega ratio

Gain probability vs. loss probability

1.31

1.15

+0.16

Calmar ratio

Return relative to maximum drawdown

1.15

1.37

-0.23

Martin ratio

Return relative to average drawdown

3.97

4.30

-0.33

FUENX vs. FIPDX - Sharpe Ratio Comparison

The current FUENX Sharpe Ratio is 1.13, which is higher than the FIPDX Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of FUENX and FIPDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Sharpe Ratios by Period


FUENXFIPDXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.13

0.83

+0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

0.24

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.48

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.40

+0.12

Correlation

The correlation between FUENX and FIPDX is 0.40, 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.


Dividends

FUENX vs. FIPDX - Dividend Comparison

FUENX's dividend yield for the trailing twelve months is around 2.96%, less than FIPDX's 4.16% yield.


TTM20252024202320222021202020192018201720162015
FUENX
Fidelity Flex Municipal Income Fund
2.96%3.14%2.90%2.58%1.38%1.40%1.54%2.95%2.61%0.41%0.00%0.00%
FIPDX
Fidelity Inflation-Protected Bond Index Fund
4.16%4.18%3.75%3.56%8.87%4.76%1.24%1.97%2.26%1.29%1.34%0.38%

Drawdowns

FUENX vs. FIPDX - Drawdown Comparison

The maximum FUENX drawdown since its inception was -14.32%, roughly equal to the maximum FIPDX drawdown of -14.32%. Use the drawdown chart below to compare losses from any high point for FUENX and FIPDX.


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Drawdown Indicators


FUENXFIPDXDifference

Max Drawdown

Largest peak-to-trough decline

-14.32%

-14.32%

0.00%

Max Drawdown (1Y)

Largest decline over 1 year

-4.18%

-2.90%

-1.28%

Max Drawdown (5Y)

Largest decline over 5 years

-14.32%

-14.32%

0.00%

Max Drawdown (10Y)

Largest decline over 10 years

-14.32%

Current Drawdown

Current decline from peak

-2.57%

-1.40%

-1.17%

Average Drawdown

Average peak-to-trough decline

-2.95%

-4.52%

+1.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.21%

0.92%

+0.29%

Volatility

FUENX vs. FIPDX - Volatility Comparison

The current volatility for Fidelity Flex Municipal Income Fund (FUENX) is 1.06%, while Fidelity Inflation-Protected Bond Index Fund (FIPDX) has a volatility of 1.37%. This indicates that FUENX experiences smaller price fluctuations and is considered to be less risky than FIPDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


FUENXFIPDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.06%

1.37%

-0.31%

Volatility (6M)

Calculated over the trailing 6-month period

1.67%

2.35%

-0.68%

Volatility (1Y)

Calculated over the trailing 1-year period

4.27%

4.13%

+0.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.75%

5.99%

-2.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.22%

5.38%

-1.16%