MSCVX vs. FSMUX
Compare and contrast key facts about MainStay MacKay California Tax Free Opportunities Fund (MSCVX) and Strategic Advisers Municipal Bond Fund (FSMUX).
MSCVX is managed by MainStay. It was launched on Feb 27, 2013. FSMUX is managed by Fidelity. It was launched on Jun 24, 2021.
Performance
MSCVX vs. FSMUX - Performance Comparison
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MSCVX vs. FSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MSCVX MainStay MacKay California Tax Free Opportunities Fund | -0.63% | 3.53% | 2.74% | 6.09% | -11.16% | 0.51% |
FSMUX Strategic Advisers Municipal Bond Fund | -1.13% | 3.14% | 2.99% | 6.78% | -11.25% | 0.39% |
Returns By Period
In the year-to-date period, MSCVX achieves a -0.63% return, which is significantly higher than FSMUX's -1.13% return.
MSCVX
- 1D
- 0.11%
- 1M
- -2.86%
- YTD
- -0.63%
- 6M
- 1.03%
- 1Y
- 2.97%
- 3Y*
- 3.21%
- 5Y*
- 0.42%
- 10Y*
- 2.14%
FSMUX
- 1D
- 0.11%
- 1M
- -2.56%
- YTD
- -1.13%
- 6M
- 0.12%
- 1Y
- 2.39%
- 3Y*
- 2.93%
- 5Y*
- —
- 10Y*
- —
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MSCVX vs. FSMUX - Expense Ratio Comparison
MSCVX has a 0.77% expense ratio, which is higher than FSMUX's 0.06% expense ratio.
Return for Risk
MSCVX vs. FSMUX — Risk / Return Rank
MSCVX
FSMUX
MSCVX vs. FSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay California Tax Free Opportunities Fund (MSCVX) and Strategic Advisers Municipal Bond Fund (FSMUX). 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.
| MSCVX | FSMUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.78 | 0.63 | +0.16 |
Sortino ratioReturn per unit of downside risk | 1.05 | 0.87 | +0.18 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.75 | 0.28 | +0.47 |
Martin ratioReturn relative to average drawdown | 2.18 | 0.78 | +1.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSCVX | FSMUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 0.63 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | -0.00 | +0.83 |
Correlation
The correlation between MSCVX and FSMUX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MSCVX vs. FSMUX - Dividend Comparison
MSCVX's dividend yield for the trailing twelve months is around 3.34%, more than FSMUX's 2.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSCVX MainStay MacKay California Tax Free Opportunities Fund | 3.34% | 4.45% | 3.84% | 2.84% | 2.81% | 2.13% | 2.48% | 2.78% | 3.01% | 3.07% | 3.16% | 3.50% |
FSMUX Strategic Advisers Municipal Bond Fund | 2.35% | 3.26% | 3.74% | 3.18% | 2.14% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MSCVX vs. FSMUX - Drawdown Comparison
The maximum MSCVX drawdown since its inception was -17.13%, which is greater than FSMUX's maximum drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for MSCVX and FSMUX.
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Drawdown Indicators
| MSCVX | FSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.13% | -16.27% | -0.86% |
Max Drawdown (1Y)Largest decline over 1 year | -5.08% | -5.30% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -17.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.13% | — | — |
Current DrawdownCurrent decline from peak | -2.86% | -2.56% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -5.61% | +2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 1.96% | -0.22% |
Volatility
MSCVX vs. FSMUX - Volatility Comparison
MainStay MacKay California Tax Free Opportunities Fund (MSCVX) and Strategic Advisers Municipal Bond Fund (FSMUX) have volatilities of 1.01% and 0.99%, 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
| MSCVX | FSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 0.99% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 2.12% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 6.65% | -1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.43% | 4.67% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 4.67% | 0.00% |