NEARX vs. FMBIX

Last updated Jun 5, 2026

NEARX (U.S. Global Investors Near-Term Tax Free Fund) and FMBIX (Fidelity Municipal Bond Index Fund) are both Municipal Bonds funds. At a 0.34 correlation, their price movements are largely independent. NEARX charges 0.45%/yr vs 0.07%/yr for FMBIX.

Performance

NEARX vs. FMBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors Near-Term Tax Free Fund (NEARX) and Fidelity Municipal Bond Index Fund (FMBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NEARX

• 1D: 0.00%
• 1M: 0.22%
• YTD: 0.56%
• 6M: 0.79%
• 1Y: 2.52%
• 3Y*: 2.98%
• 5Y*: 0.67%
• 10Y*: 1.06%

FMBIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NEARX vs. FMBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NEARX U.S. Global Investors Near-Term Tax Free Fund	0.56%	3.47%	2.19%	3.04%	-5.25%	-0.46%	2.94%	0.87%
FMBIX Fidelity Municipal Bond Index Fund	0.00%	0.60%	1.32%	5.89%	-10.00%	1.14%	3.10%	1.48%

Correlation

The correlation between NEARX and FMBIX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jul 18, 2019	0.34

The correlation between NEARX and FMBIX shifts across timeframes, from 0.18 (3 years) to 0.34 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NEARX vs. FMBIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NEARX

NEARX Risk / Return Rank: 26
NEARX Sharpe Ratio Rank: 14
NEARX Sortino Ratio Rank: 15
NEARX Omega Ratio Rank: 58
NEARX Calmar Ratio Rank: 23
NEARX Martin Ratio Rank: 18

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.

NEARX vs. FMBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Near-Term Tax Free Fund (NEARX) and Fidelity Municipal Bond Index Fund (FMBIX). 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.

	NEARX	FMBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	—	—
Sortino ratio: Return per unit of downside risk	1.57	—	—
Omega ratio: Gain probability vs. loss probability	1.42	—	—
Calmar ratio: Return relative to maximum drawdown	1.74	—	—
Martin ratio: Return relative to average drawdown	4.69	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NEARX	FMBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	—	—

Drawdowns

Drawdown Indicators

	NEARX	FMBIX	Difference
Max Drawdown Largest peak-to-trough decline	-80.12%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-6.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-6.91%	—	—
Current Drawdown Current decline from peak	-0.77%	—	—
Average Drawdown Average peak-to-trough decline	-20.83%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	—	—

Volatility

Volatility by Period

	NEARX	FMBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.50%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.50%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.55%	—	—

NEARX vs. FMBIX - Expense Ratio Comparison

NEARX has a 0.45% expense ratio, which is higher than FMBIX's 0.07% expense ratio.

Dividends

NEARX vs. FMBIX - Dividend Comparison

NEARX's dividend yield for the trailing twelve months is around 2.50%, while FMBIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMBIX Fidelity Municipal Bond Index Fund	0.00%	0.70%	2.60%	2.29%	1.17%	1.28%	1.59%	0.77%	0.00%	0.00%	0.00%	0.00%
NEARX U.S. Global Investors Near-Term Tax Free Fund	2.50%	2.45%	2.65%	2.50%	1.10%	0.88%	1.10%	1.46%	2.01%	1.47%	1.36%	1.83%

Frequently Asked Questions

Can I hold both NEARX and FMBIX in my portfolio?

NEARX and FMBIX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.