MALMX vs. FFANX
MALMX (BlackRock Short-Term Municipal Fund) and FFANX (Fidelity Asset Manager 40% Fund) are both mutual funds - MALMX is a Municipal Bonds fund managed by BlackRock, while FFANX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, MALMX returned 1.74%/yr vs 6.99%/yr for FFANX. At a 0.07 correlation, their price movements are largely independent. MALMX charges 0.36%/yr vs 0.52%/yr for FFANX.
Performance
MALMX vs. FFANX - Performance Comparison
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Returns By Period
In the year-to-date period, MALMX achieves a 1.02% return, which is significantly lower than FFANX's 7.45% return. Over the past 10 years, MALMX has underperformed FFANX with an annualized return of 1.74%, while FFANX has yielded a comparatively higher 6.99% annualized return.
MALMX
- 1D
- 0.00%
- 1M
- 0.89%
- YTD
- 1.02%
- 6M
- 1.41%
- 1Y
- 4.39%
- 3Y*
- 4.59%
- 5Y*
- 2.37%
- 10Y*
- 1.74%
FFANX
- 1D
- -0.13%
- 1M
- 1.41%
- YTD
- 7.45%
- 6M
- 7.31%
- 1Y
- 16.42%
- 3Y*
- 11.28%
- 5Y*
- 5.36%
- 10Y*
- 6.99%
MALMX vs. FFANX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MALMX BlackRock Short-Term Municipal Fund | 1.02% | 6.38% | 3.58% | 4.21% | -2.88% | -0.11% | 1.39% | 2.58% | 1.45% | 0.86% |
FFANX Fidelity Asset Manager 40% Fund | 7.45% | 13.16% | 7.40% | 11.52% | -13.62% | 8.03% | 13.10% | 15.81% | -4.06% | 11.25% |
Correlation
The correlation between MALMX and FFANX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.07 |
Over the past year, MALMX and FFANX have become more correlated (0.27) than their long-term average of 0.07, meaning their price movements have been converging.
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Return for Risk
MALMX vs. FFANX — Risk / Return Rank
MALMX
FFANX
MALMX vs. FFANX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Short-Term Municipal Fund (MALMX) and Fidelity Asset Manager 40% Fund (FFANX). 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.
| MALMX | FFANX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.90 | 1.47 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 3.27 | -0.88 |
| Martin ratioReturn relative to average drawdown | 7.72 | 13.95 | -6.23 |
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Drawdowns
MALMX vs. FFANX - Drawdown Comparison
The maximum MALMX drawdown since its inception was -5.01%, smaller than the maximum FFANX drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for MALMX and FFANX.
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Drawdown Indicators
| MALMX | FFANX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.01% | -31.69% | +26.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.88% | -5.20% | +3.32% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -7.55% | +5.23% |
Max Drawdown (5Y)Largest decline over 5 years | -5.01% | -18.52% | +13.51% |
Max Drawdown (10Y)Largest decline over 10 years | -5.01% | -18.52% | +13.51% |
Current DrawdownCurrent decline from peak | -0.44% | -0.13% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -3.79% | +3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 1.22% | -0.64% |
Volatility
MALMX vs. FFANX - Volatility Comparison
The current volatility for BlackRock Short-Term Municipal Fund (MALMX) is 0.46%, while Fidelity Asset Manager 40% Fund (FFANX) has a volatility of 2.94%. This indicates that MALMX experiences smaller price fluctuations and is considered to be less risky than FFANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MALMX | FFANX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 2.94% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 1.31% | 6.01% | -4.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.74% | 7.09% | -5.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 7.94% | -5.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.59% | 7.74% | -6.15% |
MALMX vs. FFANX - Expense Ratio Comparison
MALMX has a 0.36% expense ratio, which is lower than FFANX's 0.52% expense ratio.
Dividends
MALMX vs. FFANX - Dividend Comparison
MALMX's dividend yield for the trailing twelve months is around 3.48%, less than FFANX's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFANX Fidelity Asset Manager 40% Fund | 3.65% | 3.97% | 2.81% | 2.49% | 5.75% | 2.35% | 2.36% | 3.67% | 4.56% | 2.56% | 1.43% | 3.18% |
MALMX BlackRock Short-Term Municipal Fund | 3.48% | 4.62% | 3.93% | 2.56% | 0.90% | 0.58% | 1.08% | 1.75% | 1.34% | 0.86% | 0.54% | 0.41% |
Frequently Asked Questions
MALMX and FFANX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFANX has higher volatility (2.94%) compared to MALMX (0.46%). In terms of maximum drawdown, MALMX dropped -5.01% vs FFANX's -31.69%.
MALMX currently has the higher Sharpe Ratio (2.60 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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