TCCBX vs. FMBIX

Last updated Jun 4, 2026

TCCBX (Ambrus Tax-Conscious California Bond Fund Institutional Class) and FMBIX (Fidelity Municipal Bond Index Fund) are both Municipal Bonds funds. TCCBX charges 0.50%/yr vs 0.07%/yr for FMBIX.

Performance

TCCBX vs. FMBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ambrus Tax-Conscious California Bond Fund Institutional Class (TCCBX) and Fidelity Municipal Bond Index Fund (FMBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TCCBX

• 1D: 0.10%
• 1M: 0.20%
• YTD: 0.53%
• 6M: 0.88%
• 1Y: 4.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMBIX

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

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

TCCBX vs. FMBIX - Yearly Performance Comparison

	2026 (YTD)	2025
TCCBX Ambrus Tax-Conscious California Bond Fund Institutional Class	0.53%	3.57%
FMBIX Fidelity Municipal Bond Index Fund	0.00%	0.00%

Return for Risk

TCCBX vs. FMBIX — Risk / Return Rank

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

TCCBX

TCCBX Risk / Return Rank: 66
TCCBX Sharpe Ratio Rank: 59
TCCBX Sortino Ratio Rank: 82
TCCBX Omega Ratio Rank: 87
TCCBX Calmar Ratio Rank: 52
TCCBX Martin Ratio Rank: 50

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.

TCCBX vs. FMBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ambrus Tax-Conscious California Bond Fund Institutional Class (TCCBX) 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.

	TCCBX	FMBIX	Difference
Sharpe ratio Return per unit of total volatility	2.27	—	—
Sortino ratio Return per unit of downside risk	3.96	—	—
Omega ratio Gain probability vs. loss probability	1.62	—	—
Calmar ratio Return relative to maximum drawdown	2.76	—	—
Martin ratio Return relative to average drawdown	10.34	—	—
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

	TCCBX	FMBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.10	—	—

Drawdowns

Drawdown Indicators

	TCCBX	FMBIX	Difference
Max Drawdown Largest peak-to-trough decline	-1.77%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-1.77%	—	—
Current Drawdown Current decline from peak	-0.26%	—	—
Average Drawdown Average peak-to-trough decline	-0.30%	—	—

Volatility

Volatility by Period

	TCCBX	FMBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.17%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.23%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.23%	—	—

TCCBX vs. FMBIX - Expense Ratio Comparison

TCCBX has a 0.50% expense ratio, which is higher than FMBIX's 0.07% expense ratio.

Dividends

TCCBX vs. FMBIX - Dividend Comparison

TCCBX's dividend yield for the trailing twelve months is around 1.92%, while FMBIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FMBIX Fidelity Municipal Bond Index Fund	0.00%	0.70%	2.60%	2.29%	1.17%	1.28%	1.59%	0.77%
TCCBX Ambrus Tax-Conscious California Bond Fund Institutional Class	1.92%	1.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%