SMB vs. FTABX
Compare and contrast key facts about VanEck Short Muni ETF (SMB) and Fidelity Tax-Free Bond Fund (FTABX).
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. FTABX is managed by Fidelity. It was launched on Apr 10, 2001.
Performance
SMB vs. FTABX - Performance Comparison
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SMB vs. FTABX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | -0.17% | 4.61% | 2.41% | 3.14% | -4.50% | 0.12% | 3.30% | 4.54% | 1.86% | 1.16% |
FTABX Fidelity Tax-Free Bond Fund | -0.50% | 5.60% | 1.54% | 7.51% | -10.74% | 2.20% | 4.80% | 8.58% | 0.67% | 6.45% |
Returns By Period
In the year-to-date period, SMB achieves a -0.17% return, which is significantly higher than FTABX's -0.50% return. Over the past 10 years, SMB has underperformed FTABX with an annualized return of 1.50%, while FTABX has yielded a comparatively higher 2.32% annualized return.
SMB
- 1D
- 0.03%
- 1M
- -0.85%
- YTD
- -0.17%
- 6M
- 0.63%
- 1Y
- 3.54%
- 3Y*
- 3.00%
- 5Y*
- 1.08%
- 10Y*
- 1.50%
FTABX
- 1D
- 0.27%
- 1M
- -2.32%
- YTD
- -0.50%
- 6M
- 1.06%
- 1Y
- 4.23%
- 3Y*
- 3.59%
- 5Y*
- 0.97%
- 10Y*
- 2.32%
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SMB vs. FTABX - Expense Ratio Comparison
SMB has a 0.20% expense ratio, which is lower than FTABX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
SMB vs. FTABX — Risk / Return Rank
SMB
FTABX
SMB vs. FTABX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) and Fidelity Tax-Free Bond Fund (FTABX). 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 | FTABX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.51 | 0.97 | +0.54 |
Sortino ratioReturn per unit of downside risk | 1.94 | 1.31 | +0.63 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.27 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 2.29 | 1.15 | +1.14 |
Martin ratioReturn relative to average drawdown | 8.70 | 4.00 | +4.70 |
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 | FTABX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 0.97 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.24 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.54 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 1.04 | -0.62 |
Correlation
The correlation between SMB and FTABX is 0.28, 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. FTABX - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.70%, less than FTABX's 3.20% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | 2.70% | 2.63% | 2.38% | 1.83% | 1.32% | 1.24% | 1.50% | 1.58% | 1.49% | 1.23% | 1.12% | 1.13% |
FTABX Fidelity Tax-Free Bond Fund | 3.20% | 4.18% | 2.81% | 2.90% | 2.16% | 2.27% | 2.64% | 2.94% | 3.01% | 3.49% | 4.22% | 3.29% |
Drawdowns
SMB vs. FTABX - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, smaller than the maximum FTABX drawdown of -16.14%. Use the drawdown chart below to compare losses from any high point for SMB and FTABX.
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Drawdown Indicators
| SMB | FTABX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -16.14% | +3.50% |
Max Drawdown (1Y)Largest decline over 1 year | -1.63% | -4.74% | +3.11% |
Max Drawdown (5Y)Largest decline over 5 years | -7.48% | -16.14% | +8.66% |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | -16.14% | +3.50% |
Current DrawdownCurrent decline from peak | -0.96% | -2.66% | +1.70% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -2.13% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.37% | -0.94% |
Volatility
SMB vs. FTABX - Volatility Comparison
The current volatility for VanEck Short Muni ETF (SMB) is 0.58%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 1.15%. This indicates that SMB experiences smaller price fluctuations and is considered to be less risky than FTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMB | FTABX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 1.15% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 1.19% | 1.79% | -0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 4.84% | -2.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 4.12% | -1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 4.27% | 0.00% |