TAFTX vs. FSMUX
Compare and contrast key facts about American Funds Tax-Exempt Fund of California (TAFTX) and Strategic Advisers Municipal Bond Fund (FSMUX).
TAFTX is managed by American Funds. It was launched on Oct 27, 1986. FSMUX is managed by Fidelity. It was launched on Jun 24, 2021.
Performance
TAFTX vs. FSMUX - Performance Comparison
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TAFTX vs. FSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TAFTX American Funds Tax-Exempt Fund of California | -0.82% | 4.73% | 2.31% | 5.76% | -9.78% | 0.36% |
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, TAFTX achieves a -0.82% return, which is significantly higher than FSMUX's -1.13% return.
TAFTX
- 1D
- 0.24%
- 1M
- -2.81%
- YTD
- -0.82%
- 6M
- 0.72%
- 1Y
- 3.49%
- 3Y*
- 3.14%
- 5Y*
- 0.67%
- 10Y*
- 1.95%
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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TAFTX vs. FSMUX - Expense Ratio Comparison
TAFTX has a 0.57% expense ratio, which is higher than FSMUX's 0.06% expense ratio.
Return for Risk
TAFTX vs. FSMUX — Risk / Return Rank
TAFTX
FSMUX
TAFTX vs. FSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Tax-Exempt Fund of California (TAFTX) 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.
| TAFTX | FSMUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.83 | 0.63 | +0.20 |
Sortino ratioReturn per unit of downside risk | 1.13 | 0.87 | +0.25 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.88 | 0.28 | +0.60 |
Martin ratioReturn relative to average drawdown | 2.81 | 0.78 | +2.03 |
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
| TAFTX | FSMUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 0.63 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.27 | -0.00 | +1.27 |
Correlation
The correlation between TAFTX and FSMUX is 0.88, 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
TAFTX vs. FSMUX - Dividend Comparison
TAFTX's dividend yield for the trailing twelve months is around 3.05%, more than FSMUX's 2.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAFTX American Funds Tax-Exempt Fund of California | 3.05% | 3.96% | 2.64% | 2.19% | 1.82% | 2.19% | 2.65% | 3.15% | 2.93% | 2.95% | 3.13% | 3.32% |
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
TAFTX vs. FSMUX - Drawdown Comparison
The maximum TAFTX drawdown since its inception was -18.83%, which is greater than FSMUX's maximum drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for TAFTX and FSMUX.
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Drawdown Indicators
| TAFTX | FSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.83% | -16.27% | -2.56% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -5.30% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -14.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.82% | — | — |
Current DrawdownCurrent decline from peak | -2.81% | -2.56% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -5.61% | +3.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.96% | -0.33% |
Volatility
TAFTX vs. FSMUX - Volatility Comparison
American Funds Tax-Exempt Fund of California (TAFTX) has a higher volatility of 1.13% compared to Strategic Advisers Municipal Bond Fund (FSMUX) at 0.99%. This indicates that TAFTX's price experiences larger fluctuations and is considered to be riskier than FSMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAFTX | FSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.99% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 2.12% | -0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.18% | 6.65% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 4.67% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.90% | 4.67% | -0.77% |