PTFSX vs. FMBIX

Last updated Jun 5, 2026

PTFSX (Pacific Capital Tax Free Short Intermediate Securities Fund) and FMBIX (Fidelity Municipal Bond Index Fund) are both Municipal Bonds funds. A 0.70 correlation means they provide meaningful diversification when combined. PTFSX charges 0.38%/yr vs 0.07%/yr for FMBIX.

Performance

PTFSX vs. FMBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacific Capital Tax Free Short Intermediate Securities Fund (PTFSX) and Fidelity Municipal Bond Index Fund (FMBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PTFSX

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

FMBIX

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

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

PTFSX vs. FMBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PTFSX Pacific Capital Tax Free Short Intermediate Securities Fund	-0.58%	3.92%	0.58%	1.50%	-2.71%	-0.12%	2.61%	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 PTFSX and FMBIX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jul 18, 2019	0.70

Over the past year, the correlation between PTFSX and FMBIX has dropped to 0.22 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

Return for Risk

PTFSX vs. FMBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacific Capital Tax Free Short Intermediate Securities Fund (PTFSX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Volatility

PTFSX vs. FMBIX - Expense Ratio Comparison

PTFSX has a 0.38% expense ratio, which is higher than FMBIX's 0.07% expense ratio.

Dividends

PTFSX vs. FMBIX - Dividend Comparison

PTFSX's dividend yield for the trailing twelve months is around 1.20%, 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%
PTFSX Pacific Capital Tax Free Short Intermediate Securities Fund	1.20%	1.87%	1.82%	1.39%	1.05%	1.06%	1.40%	1.81%	2.21%	1.62%	1.66%	1.04%

Frequently Asked Questions

Can I hold both PTFSX and FMBIX in my portfolio?

PTFSX and FMBIX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.