NCATX vs. FMNDX
Compare and contrast key facts about Northern California Tax Exempt Fund (NCATX) and Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX).
NCATX is managed by Northern Funds. It was launched on Apr 7, 1997. FMNDX is managed by Fidelity. It was launched on Oct 15, 2013.
Performance
NCATX vs. FMNDX - Performance Comparison
Loading graphics...
NCATX vs. FMNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCATX Northern California Tax Exempt Fund | -0.08% | 3.65% | 1.89% | 5.74% | -11.26% | 0.74% | 4.85% | 7.67% | 1.00% | 4.97% |
FMNDX Fidelity Conservative Income Municipal Bond Fund Institutional Class | 0.30% | 3.31% | 3.04% | 3.37% | -0.09% | 0.03% | 0.86% | 2.00% | 1.58% | 1.10% |
Returns By Period
In the year-to-date period, NCATX achieves a -0.08% return, which is significantly lower than FMNDX's 0.30% return. Both investments have delivered pretty close results over the past 10 years, with NCATX having a 1.56% annualized return and FMNDX not far behind at 1.55%.
NCATX
- 1D
- 0.29%
- 1M
- -1.90%
- YTD
- -0.08%
- 6M
- 1.34%
- 1Y
- 4.46%
- 3Y*
- 2.79%
- 5Y*
- 0.09%
- 10Y*
- 1.56%
FMNDX
- 1D
- 0.00%
- 1M
- -0.30%
- YTD
- 0.30%
- 6M
- 1.06%
- 1Y
- 2.67%
- 3Y*
- 3.04%
- 5Y*
- 1.98%
- 10Y*
- 1.55%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
NCATX vs. FMNDX - Expense Ratio Comparison
NCATX has a 0.45% expense ratio, which is higher than FMNDX's 0.25% expense ratio.
Return for Risk
NCATX vs. FMNDX — Risk / Return Rank
NCATX
FMNDX
NCATX vs. FMNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern California Tax Exempt Fund (NCATX) and Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX). 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.
| NCATX | FMNDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 2.85 | -1.97 |
Sortino ratioReturn per unit of downside risk | 1.20 | 6.52 | -5.32 |
Omega ratioGain probability vs. loss probability | 1.29 | 2.73 | -1.44 |
Calmar ratioReturn relative to maximum drawdown | 1.15 | 7.66 | -6.51 |
Martin ratioReturn relative to average drawdown | 4.50 | 29.05 | -24.55 |
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 graphics...
Sharpe Ratios by Period
| NCATX | FMNDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 2.85 | -1.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 1.90 | -1.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 1.74 | -1.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.05 | 1.66 | -0.61 |
Correlation
The correlation between NCATX and FMNDX is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
NCATX vs. FMNDX - Dividend Comparison
NCATX's dividend yield for the trailing twelve months is around 3.75%, more than FMNDX's 2.64% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCATX Northern California Tax Exempt Fund | 3.75% | 2.85% | 3.39% | 2.46% | 1.47% | 2.18% | 2.85% | 3.82% | 3.51% | 3.19% | 4.08% | 3.21% |
FMNDX Fidelity Conservative Income Municipal Bond Fund Institutional Class | 2.64% | 2.95% | 2.99% | 2.60% | 0.61% | 0.23% | 0.85% | 1.58% | 1.46% | 1.00% | 0.75% | 0.38% |
Drawdowns
NCATX vs. FMNDX - Drawdown Comparison
The maximum NCATX drawdown since its inception was -16.55%, which is greater than FMNDX's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for NCATX and FMNDX.
Loading graphics...
Drawdown Indicators
| NCATX | FMNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.55% | -1.69% | -14.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.58% | -0.40% | -4.18% |
Max Drawdown (5Y)Largest decline over 5 years | -16.55% | -1.09% | -15.46% |
Max Drawdown (10Y)Largest decline over 10 years | -16.55% | -1.69% | -14.86% |
Current DrawdownCurrent decline from peak | -2.18% | -0.30% | -1.88% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -0.10% | -2.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 0.10% | +1.07% |
Volatility
NCATX vs. FMNDX - Volatility Comparison
Northern California Tax Exempt Fund (NCATX) has a higher volatility of 0.96% compared to Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) at 0.16%. This indicates that NCATX's price experiences larger fluctuations and is considered to be riskier than FMNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| NCATX | FMNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.16% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 0.62% | +1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.42% | 1.01% | +4.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.10% | 1.05% | +3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.24% | 0.90% | +3.34% |