FZIIX vs. PBR
FZIIX (Fidelity Advisor Intermediate Municipal Income Fund Class I) is Municipal Bonds fund managed by Fidelity, while PBR (Petróleo Brasileiro S.A. - Petrobras) is a stock. Over the past 10 years, FZIIX returned 1.98%/yr vs 21.43%/yr for PBR. At a correlation of -0.08, they often move in opposite directions.
Performance
FZIIX vs. PBR - Performance Comparison
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Returns By Period
In the year-to-date period, FZIIX achieves a 0.88% return, which is significantly lower than PBR's 45.67% return. Over the past 10 years, FZIIX has underperformed PBR with an annualized return of 1.98%, while PBR has yielded a comparatively higher 21.43% annualized return.
FZIIX
- 1D
- -0.10%
- 1M
- 1.13%
- YTD
- 0.88%
- 6M
- 1.22%
- 1Y
- 5.43%
- 3Y*
- 3.76%
- 5Y*
- 1.21%
- 10Y*
- 1.98%
PBR
- 1D
- 0.12%
- 1M
- -13.77%
- YTD
- 45.67%
- 6M
- 48.97%
- 1Y
- 41.03%
- 3Y*
- 15.49%
- 5Y*
- 29.18%
- 10Y*
- 21.43%
FZIIX vs. PBR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FZIIX Fidelity Advisor Intermediate Municipal Income Fund Class I | 0.88% | 5.91% | 1.02% | 5.53% | -7.05% | 0.93% | 4.46% | 6.47% | 1.15% | 4.51% |
PBR Petróleo Brasileiro S.A. - Petrobras | 45.67% | -1.01% | -8.38% | 71.48% | 47.76% | 20.44% | -28.83% | 24.65% | 27.68% | 1.78% |
Correlation
The correlation between FZIIX and PBR is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2004 | -0.08 |
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Return for Risk
FZIIX vs. PBR — Risk / Return Rank
FZIIX
PBR
FZIIX vs. PBR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Intermediate Municipal Income Fund Class I (FZIIX) and Petróleo Brasileiro S.A. - Petrobras (PBR). 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.
| FZIIX | PBR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.24 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 1.76 | +0.17 |
| Martin ratioReturn relative to average drawdown | 5.90 | 5.05 | +0.84 |
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Drawdowns
FZIIX vs. PBR - Drawdown Comparison
The maximum FZIIX drawdown since its inception was -10.95%, smaller than the maximum PBR drawdown of -95.62%. Use the drawdown chart below to compare losses from any high point for FZIIX and PBR.
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Drawdown Indicators
| FZIIX | PBR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.95% | -95.62% | +84.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -23.38% | +20.51% |
Max Drawdown (3Y)Largest decline over 3 years | -3.99% | -28.24% | +24.25% |
Max Drawdown (5Y)Largest decline over 5 years | -10.95% | -39.62% | +28.67% |
Max Drawdown (10Y)Largest decline over 10 years | -10.95% | -75.13% | +64.18% |
Current DrawdownCurrent decline from peak | -1.10% | -29.03% | +27.93% |
Average DrawdownAverage peak-to-trough decline | -1.51% | -52.68% | +51.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 8.15% | -7.21% |
Volatility
FZIIX vs. PBR - Volatility Comparison
The current volatility for Fidelity Advisor Intermediate Municipal Income Fund Class I (FZIIX) is 0.60%, while Petróleo Brasileiro S.A. - Petrobras (PBR) has a volatility of 7.64%. This indicates that FZIIX experiences smaller price fluctuations and is considered to be less risky than PBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FZIIX | PBR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 7.64% | -7.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.73% | 25.04% | -23.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.18% | 31.63% | -29.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.04% | 37.94% | -34.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.22% | 46.81% | -43.59% |
Dividends
FZIIX vs. PBR - Dividend Comparison
FZIIX's dividend yield for the trailing twelve months is around 2.81%, less than PBR's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FZIIX Fidelity Advisor Intermediate Municipal Income Fund Class I | 2.81% | 3.61% | 2.41% | 2.34% | 1.31% | 1.76% | 2.10% | 2.52% | 2.58% | 2.56% | 3.11% | 2.29% |
PBR Petróleo Brasileiro S.A. - Petrobras | 4.15% | 7.10% | 14.73% | 10.91% | 55.64% | 18.95% | 0.84% | 1.59% | 1.03% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FZIIX and PBR have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBR has higher volatility (7.64%) compared to FZIIX (0.60%). In terms of maximum drawdown, FZIIX dropped -10.95% vs PBR's -95.62%.
FZIIX currently has the higher Sharpe Ratio (2.56 vs 1.31), 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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