FXCTX vs. FXIEX
FXCTX (Franklin Connecticut Tax-Free Income Fund) and FXIEX (PIMCO Fixed Income SHares: Series TE) are both Municipal Bonds funds. Over the past 10 years, FXCTX returned 1.34%/yr vs 2.77%/yr for FXIEX. A 0.68 correlation means they provide meaningful diversification when combined. FXCTX charges 0.76%/yr vs 0.07%/yr for FXIEX.
Performance
FXCTX vs. FXIEX - Performance Comparison
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Returns By Period
In the year-to-date period, FXCTX achieves a 1.92% return, which is significantly higher than FXIEX's 1.81% return. Over the past 10 years, FXCTX has underperformed FXIEX with an annualized return of 1.34%, while FXIEX has yielded a comparatively higher 2.77% annualized return.
FXCTX
- 1D
- 0.00%
- 1M
- 1.91%
- YTD
- 1.92%
- 6M
- 2.29%
- 1Y
- 7.84%
- 3Y*
- 4.24%
- 5Y*
- 0.73%
- 10Y*
- 1.34%
FXIEX
- 1D
- -0.10%
- 1M
- 1.74%
- YTD
- 1.81%
- 6M
- 2.34%
- 1Y
- 6.34%
- 3Y*
- 4.97%
- 5Y*
- 1.63%
- 10Y*
- 2.77%
FXCTX vs. FXIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXCTX Franklin Connecticut Tax-Free Income Fund | 1.92% | 4.67% | 2.44% | 6.36% | -11.42% | 1.54% | 4.03% | 5.64% | 0.89% | 1.66% |
FXIEX PIMCO Fixed Income SHares: Series TE | 1.81% | 3.37% | 5.16% | 8.92% | -10.89% | 2.19% | 7.22% | 8.45% | 1.00% | 7.71% |
Correlation
The correlation between FXCTX and FXIEX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2012 | 0.68 |
The correlation between FXCTX and FXIEX shifts across timeframes, from 0.68 (all time) to 0.84 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FXCTX vs. FXIEX — Risk / Return Rank
FXCTX
FXIEX
FXCTX vs. FXIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Connecticut Tax-Free Income Fund (FXCTX) and PIMCO Fixed Income SHares: Series TE (FXIEX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FXCTX | FXIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.57 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 3.32 | -0.67 |
| Martin ratioReturn relative to average drawdown | 9.05 | 11.01 | -1.96 |
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Drawdowns
FXCTX vs. FXIEX - Drawdown Comparison
The maximum FXCTX drawdown since its inception was -16.49%, which is greater than FXIEX's maximum drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for FXCTX and FXIEX.
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Drawdown Indicators
| FXCTX | FXIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.49% | -15.25% | -1.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -2.42% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -7.17% | -5.56% | -1.61% |
Max Drawdown (5Y)Largest decline over 5 years | -16.49% | -15.25% | -1.24% |
Max Drawdown (10Y)Largest decline over 10 years | -16.49% | -15.25% | -1.24% |
Current DrawdownCurrent decline from peak | -0.21% | -0.10% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -2.89% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.65% | -0.77% |
Volatility
FXCTX vs. FXIEX - Volatility Comparison
Franklin Connecticut Tax-Free Income Fund (FXCTX) and PIMCO Fixed Income SHares: Series TE (FXIEX) have volatilities of 0.88% and 0.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXCTX | FXIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 0.84% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.40% | 2.17% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.15% | 3.47% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 4.37% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.11% | 4.10% | +0.01% |
FXCTX vs. FXIEX - Expense Ratio Comparison
FXCTX has a 0.76% expense ratio, which is higher than FXIEX's 0.07% expense ratio.
Dividends
FXCTX vs. FXIEX - Dividend Comparison
FXCTX's dividend yield for the trailing twelve months is around 2.94%, more than FXIEX's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXCTX Franklin Connecticut Tax-Free Income Fund | 2.94% | 3.81% | 3.29% | 2.53% | 2.53% | 2.21% | 2.75% | 3.69% | 3.26% | 3.11% | 3.23% | 3.69% |
FXIEX PIMCO Fixed Income SHares: Series TE | 2.79% | 2.75% | 4.53% | 3.98% | 3.25% | 2.63% | 3.37% | 3.63% | 3.79% | 2.67% | 0.00% | 0.00% |
Frequently Asked Questions
FXCTX and FXIEX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXCTX has higher volatility (0.88%) compared to FXIEX (0.84%). In terms of maximum drawdown, FXCTX dropped -16.49% vs FXIEX's -15.25%.
FXCTX currently has the higher Sharpe Ratio (2.55 vs 2.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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