FUENX vs. SGOV
Compare and contrast key facts about Fidelity Flex Municipal Income Fund (FUENX) and iShares 0-3 Month Treasury Bond ETF (SGOV).
FUENX is managed by Fidelity. It was launched on Oct 12, 2017. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Bill Index. It was launched on May 26, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FUENX or SGOV.
Performance
FUENX vs. SGOV - Performance Comparison
Returns By Period
In the year-to-date period, FUENX achieves a 2.65% return, which is significantly lower than SGOV's 4.78% return.
FUENX
2.65%
0.97%
3.36%
6.78%
1.35%
N/A
SGOV
4.78%
0.41%
2.55%
5.34%
N/A
N/A
Key characteristics
| FUENX | SGOV | |
|---|---|---|
| Sharpe Ratio | 1.98 | 21.75 |
| Sortino Ratio | 2.97 | 522.74 |
| Omega Ratio | 1.47 | 523.74 |
| Calmar Ratio | 1.19 | 536.49 |
| Martin Ratio | 8.13 | 8,516.56 |
| Ulcer Index | 0.78% | 0.00% |
| Daily Std Dev | 3.19% | 0.25% |
| Max Drawdown | -13.89% | -0.03% |
| Current Drawdown | -1.15% | 0.00% |
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FUENX vs. SGOV - Expense Ratio Comparison
FUENX has a 0.00% expense ratio, which is lower than SGOV's 0.03% 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%.
Correlation
The correlation between FUENX and SGOV is 0.04, 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
FUENX vs. SGOV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Municipal Income Fund (FUENX) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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. SGOV - Dividend Comparison
FUENX's dividend yield for the trailing twelve months is around 2.83%, less than SGOV's 5.23% 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% |
SGOV iShares 0-3 Month Treasury Bond ETF | 5.23% | 4.87% | 1.45% | 0.03% | 0.04% | 0.00% | 0.00% | 0.00% |
Drawdowns
FUENX vs. SGOV - Drawdown Comparison
The maximum FUENX drawdown since its inception was -13.89%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for FUENX and SGOV. For additional features, visit the drawdowns tool.
Volatility
FUENX vs. SGOV - Volatility Comparison
Fidelity Flex Municipal Income Fund (FUENX) has a higher volatility of 1.32% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.08%. This indicates that FUENX's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.