Correlation
The correlation between OLCAX and FUMBX is 0.03, 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.
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OLCAX or FUMBX.
Performance
OLCAX vs. FUMBX - Performance Comparison
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Key characteristics
OLCAX:
0.46
FUMBX:
2.34
OLCAX:
0.63
FUMBX:
3.48
OLCAX:
1.14
FUMBX:
1.47
OLCAX:
0.50
FUMBX:
2.27
OLCAX:
1.80
FUMBX:
8.04
OLCAX:
0.82%
FUMBX:
0.72%
OLCAX:
3.24%
FUMBX:
2.62%
OLCAX:
-14.59%
FUMBX:
-8.40%
OLCAX:
-1.41%
FUMBX:
-0.67%
Returns By Period
In the year-to-date period, OLCAX achieves a -0.58% return, which is significantly lower than FUMBX's 2.41% return.
OLCAX
-0.58%
0.00%
-1.28%
1.21%
1.78%
1.30%
2.15%
FUMBX
2.41%
-0.39%
2.44%
5.78%
2.65%
0.63%
N/A
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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.
Risk-Adjusted Performance
OLCAX vs. FUMBX — Risk-Adjusted Performance Rank
OLCAX
FUMBX
OLCAX vs. FUMBX - Risk-Adjusted Performance 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.
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Dividends
OLCAX vs. FUMBX - Dividend Comparison
OLCAX's dividend yield for the trailing twelve months is around 2.86%, less than FUMBX's 2.94% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OLCAX Invesco Limited Term California Municipal Fund | 2.86% | 2.96% | 2.72% | 2.02% | 2.25% | 2.50% | 2.51% | 2.66% | 3.64% | 3.76% | 3.87% | 5.72% |
FUMBX Fidelity Short-Term Treasury Bond Index Fund | 2.94% | 2.90% | 1.65% | 1.12% | 1.29% | 1.59% | 1.88% | 1.64% | 0.35% | 0.00% | 0.00% | 0.00% |
Drawdowns
OLCAX vs. FUMBX - Drawdown Comparison
The maximum OLCAX drawdown since its inception was -14.59%, which is greater than FUMBX's maximum drawdown of -8.40%. Use the drawdown chart below to compare losses from any high point for OLCAX and FUMBX.
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Volatility
OLCAX vs. FUMBX - Volatility Comparison
The current volatility for Invesco Limited Term California Municipal Fund (OLCAX) is 0.47%, while Fidelity Short-Term Treasury Bond Index Fund (FUMBX) has a volatility of 0.79%. This indicates that OLCAX experiences smaller price fluctuations and is considered to be less risky than FUMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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