VMFXX vs. FCMTX
Compare and contrast key facts about Vanguard Federal Money Market Fund (VMFXX) and Fidelity Advisor California Municipal Income Fund Class M (FCMTX).
VMFXX is managed by Vanguard. It was launched on Sep 1, 2010. FCMTX is managed by Fidelity. It was launched on Aug 1, 2002.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMFXX or FCMTX.
Key characteristics
| VMFXX | FCMTX | |
|---|---|---|
| YTD Return | 3.59% | 2.78% |
| 1Y Return | 5.45% | 7.73% |
| 3Y Return (Ann) | 3.40% | -0.26% |
| 5Y Return (Ann) | 2.24% | 1.14% |
| 10Y Return (Ann) | 1.49% | 2.28% |
| Sharpe Ratio | 3.63 | 2.13 |
| Daily Std Dev | 1.49% | 3.68% |
| Max Drawdown | 0.00% | -13.70% |
| Current Drawdown | 0.00% | -1.35% |
Correlation
The correlation between VMFXX and FCMTX is 0.13, 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.
Performance
VMFXX vs. FCMTX - Performance Comparison
In the year-to-date period, VMFXX achieves a 3.59% return, which is significantly higher than FCMTX's 2.78% return. Over the past 10 years, VMFXX has underperformed FCMTX with an annualized return of 1.49%, while FCMTX has yielded a comparatively higher 2.28% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VMFXX vs. FCMTX - Expense Ratio Comparison
VMFXX has a 0.00% expense ratio, which is lower than FCMTX's 0.70% expense ratio.
Risk-Adjusted Performance
VMFXX vs. FCMTX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Federal Money Market Fund (VMFXX) and Fidelity Advisor California Municipal Income Fund Class M (FCMTX). 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.
Dividends
VMFXX vs. FCMTX - Dividend Comparison
VMFXX's dividend yield for the trailing twelve months is around 5.30%, more than FCMTX's 2.51% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMFXX Vanguard Federal Money Market Fund | 5.30% | 4.97% | 1.54% | 0.01% | 0.45% | 2.12% | 1.61% | 0.50% | 0.00% | 0.00% | 0.00% | 0.01% |
FCMTX Fidelity Advisor California Municipal Income Fund Class M | 2.51% | 2.43% | 2.27% | 2.40% | 2.52% | 2.54% | 2.72% | 3.22% | 2.92% | 3.02% | 3.26% | 3.56% |
Drawdowns
VMFXX vs. FCMTX - Drawdown Comparison
The maximum VMFXX drawdown since its inception was 0.00%, smaller than the maximum FCMTX drawdown of -13.70%. Use the drawdown chart below to compare losses from any high point for VMFXX and FCMTX. For additional features, visit the drawdowns tool.
Volatility
VMFXX vs. FCMTX - Volatility Comparison
Vanguard Federal Money Market Fund (VMFXX) and Fidelity Advisor California Municipal Income Fund Class M (FCMTX) have volatilities of 0.45% and 0.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.