FUENX vs. FUEMX
Compare and contrast key facts about Fidelity Flex Municipal Income Fund (FUENX) and Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX).
FUENX is managed by Fidelity. It was launched on Oct 12, 2017. FUEMX is managed by Fidelity. It was launched on Oct 12, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FUENX or FUEMX.
Key characteristics
| FUENX | FUEMX | |
|---|---|---|
| YTD Return | 2.44% | 3.37% |
| 1Y Return | 8.39% | 4.19% |
| 3Y Return (Ann) | 0.17% | 2.47% |
| 5Y Return (Ann) | 1.37% | 1.92% |
| Sharpe Ratio | 2.38 | 3.44 |
| Sortino Ratio | 3.58 | 9.76 |
| Omega Ratio | 1.57 | 3.37 |
| Calmar Ratio | 1.09 | 13.69 |
| Martin Ratio | 10.28 | 52.00 |
| Ulcer Index | 0.75% | 0.08% |
| Daily Std Dev | 3.28% | 1.19% |
| Max Drawdown | -13.89% | -1.99% |
| Current Drawdown | -1.35% | -0.00% |
Correlation
The correlation between FUENX and FUEMX is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FUENX vs. FUEMX - Performance Comparison
In the year-to-date period, FUENX achieves a 2.44% return, which is significantly lower than FUEMX's 3.37% 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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FUENX vs. FUEMX - Expense Ratio Comparison
FUENX has a 0.00% expense ratio, which is lower than FUEMX's 0.00% 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%.
Risk-Adjusted Performance
FUENX vs. FUEMX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Municipal Income Fund (FUENX) and Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX). 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
FUENX vs. FUEMX - Dividend Comparison
FUENX's dividend yield for the trailing twelve months is around 2.83%, less than FUEMX's 3.49% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
FUENX Fidelity Flex Municipal Income Fund | 2.83% | 2.58% | 2.10% | 1.68% | 2.25% | 2.69% | 3.36% | 0.35% |
FUEMX Fidelity Flex Conservative Income Municipal Bond Fund | 3.49% | 3.16% | 1.21% | 0.55% | 1.28% | 1.93% | 2.29% | 0.22% |
Drawdowns
FUENX vs. FUEMX - Drawdown Comparison
The maximum FUENX drawdown since its inception was -13.89%, which is greater than FUEMX's maximum drawdown of -1.99%. Use the drawdown chart below to compare losses from any high point for FUENX and FUEMX. For additional features, visit the drawdowns tool.
Volatility
FUENX vs. FUEMX - Volatility Comparison
Fidelity Flex Municipal Income Fund (FUENX) has a higher volatility of 1.60% compared to Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX) at 0.41%. This indicates that FUENX's price experiences larger fluctuations and is considered to be riskier than FUEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.