OLCAX vs. FUMBX
Compare and contrast key facts about Invesco Limited Term California Municipal Fund (OLCAX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX).
OLCAX is managed by Invesco. It was launched on Feb 24, 2004. FUMBX is a passively managed fund by Fidelity that tracks the performance of the Bloomberg Barclays 1-5 Year U.S. Treasury Index. It was launched on Dec 20, 2005.
Performance
OLCAX vs. FUMBX - Performance Comparison
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OLCAX vs. FUMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OLCAX Invesco Limited Term California Municipal Fund | -0.32% | 4.22% | 2.70% | 3.60% | -6.16% | 1.76% | 3.78% | 7.51% | 7.27% | -0.53% |
FUMBX Fidelity Short-Term Treasury Bond Index Fund | -0.10% | 5.83% | 3.25% | 4.47% | -5.84% | -1.38% | 4.22% | 4.19% | 1.47% | -0.33% |
Returns By Period
In the year-to-date period, OLCAX achieves a -0.32% return, which is significantly lower than FUMBX's -0.10% return.
OLCAX
- 1D
- 0.32%
- 1M
- -1.27%
- YTD
- -0.32%
- 6M
- 0.59%
- 1Y
- 2.87%
- 3Y*
- 2.95%
- 5Y*
- 1.15%
- 10Y*
- 2.36%
FUMBX
- 1D
- 0.10%
- 1M
- -0.77%
- YTD
- -0.10%
- 6M
- 0.85%
- 1Y
- 3.55%
- 3Y*
- 3.80%
- 5Y*
- 1.31%
- 10Y*
- —
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OLCAX vs. FUMBX - Expense Ratio Comparison
OLCAX has a 0.83% expense ratio, which is higher than FUMBX's 0.03% expense ratio.
Return for Risk
OLCAX vs. FUMBX — Risk / Return Rank
OLCAX
FUMBX
OLCAX vs. FUMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Limited Term California Municipal Fund (OLCAX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX). 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.
| OLCAX | FUMBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.98 | 1.55 | -0.57 |
Sortino ratioReturn per unit of downside risk | 1.38 | 2.43 | -1.05 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.15 | 2.52 | -1.37 |
Martin ratioReturn relative to average drawdown | 4.27 | 8.74 | -4.47 |
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
| OLCAX | FUMBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 1.55 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.45 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.73 | +0.24 |
Correlation
The correlation between OLCAX and FUMBX is 0.26, 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
OLCAX vs. FUMBX - Dividend Comparison
OLCAX's dividend yield for the trailing twelve months is around 2.15%, less than FUMBX's 3.41% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OLCAX Invesco Limited Term California Municipal Fund | 2.15% | 3.76% | 3.32% | 2.54% | 1.71% | 2.35% | 2.46% | 2.61% | 2.48% | 3.51% | 3.57% | 3.75% |
FUMBX Fidelity Short-Term Treasury Bond Index Fund | 3.41% | 3.51% | 2.91% | 1.64% | 0.86% | 1.15% | 1.41% | 1.88% | 1.64% | 0.34% | 0.00% | 0.00% |
Drawdowns
OLCAX vs. FUMBX - Drawdown Comparison
The maximum OLCAX drawdown since its inception was -14.66%, which is greater than FUMBX's maximum drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for OLCAX and FUMBX.
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Drawdown Indicators
| OLCAX | FUMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.66% | -8.83% | -5.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -1.54% | -1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -10.04% | -8.60% | -1.44% |
Max Drawdown (10Y)Largest decline over 10 years | -10.04% | — | — |
Current DrawdownCurrent decline from peak | -1.27% | -1.06% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -1.88% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.44% | +0.34% |
Volatility
OLCAX vs. FUMBX - Volatility Comparison
Invesco Limited Term California Municipal Fund (OLCAX) has a higher volatility of 0.88% compared to Fidelity Short-Term Treasury Bond Index Fund (FUMBX) at 0.74%. This indicates that OLCAX's price experiences larger fluctuations and is considered to be riskier than FUMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OLCAX | FUMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 0.74% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 1.37% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.37% | 2.32% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.97% | 2.89% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.30% | 2.49% | +0.81% |