MTUM vs. FSTFX
MTUM (iShares MSCI USA Momentum Factor ETF) and FSTFX (Fidelity Limited Term Municipal Income Fund) are both funds - MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while FSTFX is a Municipal Bonds fund managed by Fidelity. Over the past 10 years, MTUM returned 17.19%/yr vs 1.69%/yr for FSTFX. At a 0.01 correlation, their price movements are largely independent. MTUM charges 0.15%/yr vs 0.37%/yr for FSTFX.
Performance
MTUM vs. FSTFX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MTUM achieves a 30.30% return, which is significantly higher than FSTFX's 0.85% return. Over the past 10 years, MTUM has outperformed FSTFX with an annualized return of 17.19%, while FSTFX has yielded a comparatively lower 1.69% annualized return.
MTUM
- 1D
- -1.10%
- 1M
- 11.94%
- YTD
- 30.30%
- 6M
- 29.99%
- 1Y
- 40.55%
- 3Y*
- 34.34%
- 5Y*
- 14.96%
- 10Y*
- 17.19%
FSTFX
- 1D
- 0.00%
- 1M
- 0.40%
- YTD
- 0.85%
- 6M
- 1.26%
- 1Y
- 3.94%
- 3Y*
- 3.87%
- 5Y*
- 1.42%
- 10Y*
- 1.69%
MTUM vs. FSTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MTUM iShares MSCI USA Momentum Factor ETF | 30.30% | 22.15% | 32.89% | 9.15% | -18.27% | 13.36% | 29.86% | 27.25% | -1.67% | 37.50% |
FSTFX Fidelity Limited Term Municipal Income Fund | 0.85% | 5.36% | 2.36% | 3.85% | -4.90% | 0.15% | 3.23% | 4.19% | 1.28% | 2.35% |
Correlation
The correlation between MTUM and FSTFX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2013 | 0.01 |
The correlation between MTUM and FSTFX shifts across timeframes, from 0.01 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MTUM vs. FSTFX — Risk / Return Rank
MTUM
FSTFX
MTUM vs. FSTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and Fidelity Limited Term Municipal Income Fund (FSTFX). 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.
| MTUM | FSTFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 2.00 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | 2.72 | +0.81 |
| Martin ratioReturn relative to average drawdown | 14.10 | 8.53 | +5.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MTUM | FSTFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.14 | 3.01 | -0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.74 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.83 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 1.58 | -0.73 |
Drawdowns
MTUM vs. FSTFX - Drawdown Comparison
The maximum MTUM drawdown since its inception was -34.08%, which is greater than FSTFX's maximum drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for MTUM and FSTFX.
Loading charts...
Drawdown Indicators
| MTUM | FSTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.08% | -9.50% | -24.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -1.49% | -10.05% |
Max Drawdown (3Y)Largest decline over 3 years | -20.99% | -2.00% | -18.99% |
Max Drawdown (5Y)Largest decline over 5 years | -32.28% | -7.65% | -24.63% |
Max Drawdown (10Y)Largest decline over 10 years | -34.08% | -7.65% | -26.43% |
Current DrawdownCurrent decline from peak | -1.10% | -0.48% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -6.21% | -0.98% | -5.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 0.47% | +2.42% |
Volatility
MTUM vs. FSTFX - Volatility Comparison
iShares MSCI USA Momentum Factor ETF (MTUM) has a higher volatility of 7.67% compared to Fidelity Limited Term Municipal Income Fund (FSTFX) at 0.44%. This indicates that MTUM's price experiences larger fluctuations and is considered to be riskier than FSTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MTUM | FSTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.67% | 0.44% | +7.23% |
Volatility (6M)Calculated over the trailing 6-month period | 16.51% | 1.06% | +15.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.08% | 1.35% | +17.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.60% | 1.93% | +18.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.03% | 2.05% | +18.98% |
MTUM vs. FSTFX - Expense Ratio Comparison
MTUM has a 0.15% expense ratio, which is lower than FSTFX's 0.37% expense ratio.
Dividends
MTUM vs. FSTFX - Dividend Comparison
MTUM's dividend yield for the trailing twelve months is around 0.60%, less than FSTFX's 2.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSTFX Fidelity Limited Term Municipal Income Fund | 2.43% | 2.99% | 2.03% | 1.70% | 0.92% | 1.08% | 1.58% | 1.92% | 1.65% | 1.56% | 1.60% | 1.62% |
MTUM iShares MSCI USA Momentum Factor ETF | 0.60% | 0.91% | 0.75% | 1.35% | 1.80% | 0.55% | 0.83% | 1.48% | 1.27% | 1.02% | 1.43% | 1.12% |
Frequently Asked Questions
MTUM and FSTFX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUM has higher volatility (7.67%) compared to FSTFX (0.44%). In terms of maximum drawdown, MTUM dropped -34.08% vs FSTFX's -9.50%.
FSTFX currently has the higher Sharpe Ratio (3.01 vs 2.14), 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.
Find the right allocation for MTUM and FSTFX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer