PTEAX vs. FSMUX
Compare and contrast key facts about Principal Tax-Exempt Bond Fund (PTEAX) and Strategic Advisers Municipal Bond Fund (FSMUX).
PTEAX is managed by Principal. It was launched on Jan 2, 1977. FSMUX is managed by Fidelity. It was launched on Jun 24, 2021.
Performance
PTEAX vs. FSMUX - Performance Comparison
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PTEAX vs. FSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PTEAX Principal Tax-Exempt Bond Fund | -1.06% | 4.68% | 2.10% | 6.35% | -12.18% | 0.20% |
FSMUX Strategic Advisers Municipal Bond Fund | -1.13% | 3.14% | 2.99% | 6.78% | -11.25% | 0.39% |
Returns By Period
In the year-to-date period, PTEAX achieves a -1.06% return, which is significantly higher than FSMUX's -1.13% return.
PTEAX
- 1D
- 0.15%
- 1M
- -2.95%
- YTD
- -1.06%
- 6M
- 0.39%
- 1Y
- 3.32%
- 3Y*
- 3.01%
- 5Y*
- 0.29%
- 10Y*
- 1.93%
FSMUX
- 1D
- 0.11%
- 1M
- -2.56%
- YTD
- -1.13%
- 6M
- 0.12%
- 1Y
- 2.39%
- 3Y*
- 2.93%
- 5Y*
- —
- 10Y*
- —
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PTEAX vs. FSMUX - Expense Ratio Comparison
PTEAX has a 0.73% expense ratio, which is higher than FSMUX's 0.06% expense ratio.
Return for Risk
PTEAX vs. FSMUX — Risk / Return Rank
PTEAX
FSMUX
PTEAX vs. FSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Tax-Exempt Bond Fund (PTEAX) and Strategic Advisers Municipal Bond Fund (FSMUX). 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.
| PTEAX | FSMUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.63 | +0.21 |
Sortino ratioReturn per unit of downside risk | 1.14 | 0.87 | +0.27 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.92 | 0.28 | +0.64 |
Martin ratioReturn relative to average drawdown | 2.97 | 0.78 | +2.18 |
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
| PTEAX | FSMUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.63 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | -0.00 | +0.31 |
Correlation
The correlation between PTEAX and FSMUX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PTEAX vs. FSMUX - Dividend Comparison
PTEAX's dividend yield for the trailing twelve months is around 3.89%, more than FSMUX's 2.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PTEAX Principal Tax-Exempt Bond Fund | 3.89% | 4.66% | 3.73% | 2.81% | 2.27% | 2.15% | 2.23% | 3.09% | 3.68% | 3.69% | 3.91% | 3.75% |
FSMUX Strategic Advisers Municipal Bond Fund | 2.35% | 3.26% | 3.74% | 3.18% | 2.14% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PTEAX vs. FSMUX - Drawdown Comparison
The maximum PTEAX drawdown since its inception was -38.72%, which is greater than FSMUX's maximum drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for PTEAX and FSMUX.
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Drawdown Indicators
| PTEAX | FSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.72% | -16.27% | -22.45% |
Max Drawdown (1Y)Largest decline over 1 year | -4.78% | -5.30% | +0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -17.37% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.37% | — | — |
Current DrawdownCurrent decline from peak | -2.95% | -2.56% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -5.95% | -5.61% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.49% | 1.96% | -0.47% |
Volatility
PTEAX vs. FSMUX - Volatility Comparison
Principal Tax-Exempt Bond Fund (PTEAX) and Strategic Advisers Municipal Bond Fund (FSMUX) have volatilities of 1.01% and 0.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTEAX | FSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 0.99% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 2.12% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.92% | 6.65% | -1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.96% | 4.67% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.39% | 4.67% | -0.28% |