PTXFX vs. FMBIX

Last updated Jun 4, 2026

PTXFX (Pacific Capital Tax Free Securities Fund) and FMBIX (Fidelity Municipal Bond Index Fund) are both Municipal Bonds funds. Their correlation of 0.80 suggests significant overlap in exposure. PTXFX charges 0.12%/yr vs 0.07%/yr for FMBIX.

Performance

PTXFX vs. FMBIX - Performance Comparison

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

Returns By Period

PTXFX

• 1D: 0.10%
• 1M: 0.51%
• YTD: 0.99%
• 6M: 1.40%
• 1Y: 5.52%
• 3Y*: 2.46%
• 5Y*: 0.25%
• 10Y*: 1.67%

FMBIX

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

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

PTXFX vs. FMBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PTXFX Pacific Capital Tax Free Securities Fund	0.99%	3.82%	1.12%	2.74%	-7.31%	0.33%	4.78%	1.65%
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 PTXFX and FMBIX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 18, 2019	0.80

The correlation between PTXFX and FMBIX shifts across timeframes, from 0.67 (3 years) to 0.80 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PTXFX vs. FMBIX — Risk / Return Rank

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

PTXFX

PTXFX Risk / Return Rank: 65
PTXFX Sharpe Ratio Rank: 70
PTXFX Sortino Ratio Rank: 83
PTXFX Omega Ratio Rank: 90
PTXFX Calmar Ratio Rank: 46
PTXFX Martin Ratio Rank: 38

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.

PTXFX vs. FMBIX - Risk-Adjusted Trends Comparison

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

	PTXFX	FMBIX	Difference
Sharpe ratio Return per unit of total volatility	2.44	—	—
Sortino ratio Return per unit of downside risk	3.94	—	—
Omega ratio Gain probability vs. loss probability	1.66	—	—
Calmar ratio Return relative to maximum drawdown	2.57	—	—
Martin ratio Return relative to average drawdown	8.39	—	—
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

	PTXFX	FMBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	—	—

Drawdowns

Drawdown Indicators

	PTXFX	FMBIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.69%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-11.69%	—	—
Current Drawdown Current decline from peak	-0.43%	—	—
Average Drawdown Average peak-to-trough decline	-1.62%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	—	—

Volatility

Volatility by Period

	PTXFX	FMBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.89%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.58%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.36%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.47%	—	—

PTXFX vs. FMBIX - Expense Ratio Comparison

PTXFX has a 0.12% expense ratio, which is higher than FMBIX's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PTXFX vs. FMBIX - Dividend Comparison

PTXFX's dividend yield for the trailing twelve months is around 2.33%, 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%
PTXFX Pacific Capital Tax Free Securities Fund	2.33%	2.16%	1.95%	1.76%	1.88%	1.75%	2.27%	2.46%	3.65%	3.08%	2.25%	3.05%

Frequently Asked Questions

Can I hold both PTXFX and FMBIX in my portfolio?

PTXFX and FMBIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.