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JMUNX vs. FGNSX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JMUNX vs. FGNSX

Last updated Jun 24, 2026

JMUNX (Johnson Municipal Income Fund) and FGNSX (Strategic Advisers Tax-Sensitive Short Duration Fund) are both Municipal Bonds funds. Over the past 5 years, JMUNX returned 0.45%/yr vs 2.09%/yr for FGNSX. At a 0.37 correlation, their price movements are largely independent. JMUNX charges 0.65%/yr vs 0.07%/yr for FGNSX.

Performance

JMUNX vs. FGNSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Johnson Municipal Income Fund (JMUNX) and Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JMUNX achieves a 1.30% return, which is significantly higher than FGNSX's 0.77% return.

JMUNX

1D
0.00%
1M
1.86%
YTD
1.30%
6M
1.48%
1Y
6.19%
3Y*
2.84%
5Y*
0.45%
10Y*
1.42%

FGNSX

1D
0.00%
1M
0.45%
YTD
0.77%
6M
1.05%
1Y
2.58%
3Y*
3.21%
5Y*
2.09%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

JMUNX vs. FGNSX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JMUNX
Johnson Municipal Income Fund		1.30%3.71%-0.19%5.75%-8.10%0.30%5.12%5.66%0.90%0.14%
FGNSX
Strategic Advisers Tax-Sensitive Short Duration Fund		0.77%3.08%3.47%3.56%-0.36%0.14%1.04%2.11%1.47%-0.10%

Correlation

The correlation between JMUNX and FGNSX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.37

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Dec 28, 2017

0.37

Compare stocks, funds, or ETFs

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Johnson Municipal Income Fund

Strategic Advisers Tax-Sensitive Short Duration Fund

Often compared with JMUNX:
JMUNX vs. JENHXJMUNX vs. JOPPXJMUNX vs. JIBDXJMUNX vs. JEQIXJMUNX vs. JIBFXJMUNX vs. JIBEXJMUNX vs. ATOIX
Often compared with FGNSX:
FGNSX vs. BCITXFGNSX vs. PRINXFGNSX vs. AAMBXFGNSX vs. LISDXFGNSX vs. CFNTXFGNSX vs. FSMNXFGNSX vs. CFMOX

Return for Risk

JMUNX vs. FGNSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JMUNX
JMUNX Risk / Return Rank: 5959
Overall Rank
JMUNX Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
JMUNX Sortino Ratio Rank: 7373
Sortino Ratio Rank
JMUNX Omega Ratio Rank: 8989
Omega Ratio Rank
JMUNX Calmar Ratio Rank: 2727
Calmar Ratio Rank
JMUNX Martin Ratio Rank: 2828
Martin Ratio Rank
FGNSX
FGNSX Risk / Return Rank: 9797
Overall Rank
FGNSX Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
FGNSX Sortino Ratio Rank: 9999
Sortino Ratio Rank
FGNSX Omega Ratio Rank: 9999
Omega Ratio Rank
FGNSX Calmar Ratio Rank: 9797
Calmar Ratio Rank
FGNSX Martin Ratio Rank: 9898
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JMUNX vs. FGNSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Johnson Municipal Income Fund (JMUNX) and Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX). 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.

JMUNXFGNSXDifference
Sharpe ratioReturn per unit of total volatility
2.40
2.98

-0.59

Sortino ratioReturn per unit of downside risk
3.26
7.43

-4.17

Omega ratioGain probability vs. loss probability

1.60

2.83

-1.23

Calmar ratioReturn relative to maximum drawdown

1.81

6.12

-4.31

Martin ratioReturn relative to average drawdown

6.07

27.60

-21.53

JMUNX vs. FGNSX - Sharpe Ratio Comparison

The current JMUNX Sharpe Ratio is 2.40, which is comparable to the FGNSX Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of JMUNX and FGNSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JMUNX vs. FGNSX - Drawdown Comparison

The maximum JMUNX drawdown since its inception was -13.08%, which is greater than FGNSX's maximum drawdown of -2.35%. Use the drawdown chart below to compare losses from any high point for JMUNX and FGNSX.

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Drawdown Indicators

JMUNXFGNSXDifference

Max Drawdown

Largest peak-to-trough decline

-13.08%

-2.35%

-10.73%

Max Drawdown (1Y)

Largest decline over 1 year

-3.51%

-0.50%

-3.01%

Max Drawdown (3Y)

Largest decline over 3 years

-7.20%

-2.35%

-4.85%

Max Drawdown (5Y)

Largest decline over 5 years

-13.08%

-2.35%

-10.73%

Max Drawdown (10Y)

Largest decline over 10 years

-13.08%

—

—

Current Drawdown

Current decline from peak

-0.79%

0.00%

-0.79%

Average Drawdown

Average peak-to-trough decline

-2.65%

-0.25%

-2.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.04%

0.11%

+0.93%

Volatility

JMUNX vs. FGNSX - Volatility Comparison

Johnson Municipal Income Fund (JMUNX) has a higher volatility of 0.62% compared to Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX) at 0.28%. This indicates that JMUNX's price experiences larger fluctuations and is considered to be riskier than FGNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JMUNXFGNSXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.62%

0.28%

+0.34%

Volatility (6M)

Calculated over the trailing 6-month period

2.11%

0.65%

+1.46%

Volatility (1Y)

Calculated over the trailing 1-year period

2.65%

1.02%

+1.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.13%

2.06%

+2.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.97%

1.65%

+2.32%

JMUNX vs. FGNSX - Expense Ratio Comparison

JMUNX has a 0.65% expense ratio, which is higher than FGNSX's 0.07% expense ratio.

Dividends

JMUNX vs. FGNSX - Dividend Comparison

JMUNX's dividend yield for the trailing twelve months is around 2.61%, more than FGNSX's 2.34% yield.

PositionTTM20252024202320222021202020192018201720162015
FGNSX
Strategic Advisers Tax-Sensitive Short Duration Fund		2.34%2.63%3.31%2.57%0.84%0.34%0.83%1.79%1.36%0.00%0.00%0.00%
JMUNX
Johnson Municipal Income Fund		2.61%3.49%2.41%2.79%2.30%1.96%1.93%2.00%1.88%1.86%1.83%2.09%

Frequently Asked Questions

JMUNX and FGNSX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JMUNX has higher volatility (0.62%) compared to FGNSX (0.28%). In terms of maximum drawdown, JMUNX dropped -13.08% vs FGNSX's -2.35%.

FGNSX currently has the higher Sharpe Ratio (2.98 vs 2.40), 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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