FUENX vs. GSMIX
Compare and contrast key facts about Fidelity Flex Municipal Income Fund (FUENX) and Goldman Sachs Dynamic Municipal Income Fund (GSMIX).
FUENX is managed by Fidelity. It was launched on Oct 12, 2017. GSMIX is managed by Goldman Sachs. It was launched on Jul 19, 1993.
Performance
FUENX vs. GSMIX - Performance Comparison
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FUENX vs. GSMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
GSMIX Goldman Sachs Dynamic Municipal Income Fund | -0.49% | 4.12% | 3.03% | 6.41% | -9.77% | 2.80% | 3.57% | 7.49% | 2.83% | 0.84% |
Returns By Period
The year-to-date returns for both investments are quite close, with FUENX having a -0.50% return and GSMIX slightly higher at -0.49%.
FUENX
- 1D
- 0.20%
- 1M
- -2.57%
- YTD
- -0.50%
- 6M
- 1.16%
- 1Y
- 4.40%
- 3Y*
- 3.50%
- 5Y*
- 1.18%
- 10Y*
- —
GSMIX
- 1D
- 0.07%
- 1M
- -2.39%
- YTD
- -0.49%
- 6M
- 0.78%
- 1Y
- 3.18%
- 3Y*
- 3.53%
- 5Y*
- 0.95%
- 10Y*
- 2.42%
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FUENX vs. GSMIX - Expense Ratio Comparison
FUENX has a 0.00% expense ratio, which is lower than GSMIX's 0.73% expense ratio.
Return for Risk
FUENX vs. GSMIX — Risk / Return Rank
FUENX
GSMIX
FUENX vs. GSMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Municipal Income Fund (FUENX) and Goldman Sachs Dynamic Municipal Income Fund (GSMIX). 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.
| FUENX | GSMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.13 | 0.92 | +0.22 |
Sortino ratioReturn per unit of downside risk | 1.52 | 1.26 | +0.27 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.26 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.15 | 0.88 | +0.26 |
Martin ratioReturn relative to average drawdown | 3.97 | 3.14 | +0.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FUENX | GSMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 0.92 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.26 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.95 | -0.43 |
Correlation
The correlation between FUENX and GSMIX is 0.85, 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.
Dividends
FUENX vs. GSMIX - Dividend Comparison
FUENX's dividend yield for the trailing twelve months is around 2.96%, less than GSMIX's 3.52% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GSMIX Goldman Sachs Dynamic Municipal Income Fund | 3.52% | 4.32% | 3.31% | 2.82% | 1.86% | 1.92% | 2.11% | 2.57% | 2.79% | 2.99% | 3.35% | 3.43% |
Drawdowns
FUENX vs. GSMIX - Drawdown Comparison
The maximum FUENX drawdown since its inception was -14.32%, smaller than the maximum GSMIX drawdown of -15.43%. Use the drawdown chart below to compare losses from any high point for FUENX and GSMIX.
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Drawdown Indicators
| FUENX | GSMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.32% | -15.43% | +1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -4.44% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -14.32% | -14.33% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.33% | — |
Current DrawdownCurrent decline from peak | -2.57% | -2.39% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -2.95% | -2.41% | -0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.25% | -0.04% |
Volatility
FUENX vs. GSMIX - Volatility Comparison
Fidelity Flex Municipal Income Fund (FUENX) has a higher volatility of 1.06% compared to Goldman Sachs Dynamic Municipal Income Fund (GSMIX) at 0.88%. This indicates that FUENX's price experiences larger fluctuations and is considered to be riskier than GSMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FUENX | GSMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 0.88% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 1.46% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.27% | 4.48% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.75% | 3.64% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.22% | 3.90% | +0.32% |