SMB vs. FSTFX
Compare and contrast key facts about VanEck Short Muni ETF (SMB) and Fidelity Limited Term Municipal Income Fund (FSTFX).
SMB is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Short Continuous. It was launched on Feb 22, 2008. FSTFX is managed by Fidelity. It was launched on Dec 24, 1986.
Performance
SMB vs. FSTFX - Performance Comparison
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SMB vs. FSTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | -0.20% | 4.61% | 2.41% | 3.14% | -4.50% | 0.12% | 3.30% | 4.54% | 1.86% | 1.16% |
FSTFX Fidelity Limited Term Municipal Income Fund | -0.18% | 5.36% | 2.36% | 3.85% | -4.90% | 0.15% | 3.23% | 4.19% | 1.28% | 2.35% |
Returns By Period
In the year-to-date period, SMB achieves a -0.20% return, which is significantly lower than FSTFX's -0.18% return. Over the past 10 years, SMB has underperformed FSTFX with an annualized return of 1.50%, while FSTFX has yielded a comparatively higher 1.62% annualized return.
SMB
- 1D
- 0.06%
- 1M
- -1.00%
- YTD
- -0.20%
- 6M
- 0.64%
- 1Y
- 3.71%
- 3Y*
- 2.99%
- 5Y*
- 1.07%
- 10Y*
- 1.50%
FSTFX
- 1D
- 0.00%
- 1M
- -1.49%
- YTD
- -0.18%
- 6M
- 0.45%
- 1Y
- 3.66%
- 3Y*
- 3.31%
- 5Y*
- 1.31%
- 10Y*
- 1.62%
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SMB vs. FSTFX - Expense Ratio Comparison
SMB has a 0.20% expense ratio, which is lower than FSTFX's 0.37% expense ratio.
Return for Risk
SMB vs. FSTFX — Risk / Return Rank
SMB
FSTFX
SMB vs. FSTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) and Fidelity Limited Term Municipal Income Fund (FSTFX). 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.
| SMB | FSTFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.58 | 1.99 | -0.42 |
Sortino ratioReturn per unit of downside risk | 2.02 | 2.83 | -0.81 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.69 | -0.33 |
Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.12 | +0.17 |
Martin ratioReturn relative to average drawdown | 8.77 | 8.94 | -0.16 |
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
| SMB | FSTFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.58 | 1.99 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.69 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.80 | -0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 1.57 | -1.15 |
Correlation
The correlation between SMB and FSTFX is 0.27, 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
SMB vs. FSTFX - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.68%, more than FSTFX's 2.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | 2.68% | 2.63% | 2.38% | 1.83% | 1.32% | 1.24% | 1.50% | 1.58% | 1.49% | 1.23% | 1.12% | 1.13% |
FSTFX Fidelity Limited Term Municipal Income Fund | 2.35% | 2.99% | 2.03% | 1.70% | 0.92% | 1.08% | 1.58% | 1.92% | 1.65% | 1.56% | 1.60% | 1.62% |
Drawdowns
SMB vs. FSTFX - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, which is greater than FSTFX's maximum drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for SMB and FSTFX.
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Drawdown Indicators
| SMB | FSTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -9.50% | -3.14% |
Max Drawdown (1Y)Largest decline over 1 year | -1.63% | -2.00% | +0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -7.48% | -7.65% | +0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | -7.65% | -4.99% |
Current DrawdownCurrent decline from peak | -1.00% | -1.49% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -0.98% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.47% | -0.04% |
Volatility
SMB vs. FSTFX - Volatility Comparison
VanEck Short Muni ETF (SMB) has a higher volatility of 0.64% compared to Fidelity Limited Term Municipal Income Fund (FSTFX) at 0.53%. This indicates that SMB's price experiences larger fluctuations and is considered to be riskier than FSTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMB | FSTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.53% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.19% | 0.94% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 2.14% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 1.91% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 2.04% | +2.23% |