VMLTX vs. FMNDX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX).
VMLTX is managed by Vanguard. It was launched on Aug 31, 1987. FMNDX is managed by Fidelity. It was launched on Oct 15, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMLTX or FMNDX.
Correlation
The correlation between VMLTX and FMNDX is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
VMLTX vs. FMNDX - Performance Comparison
Key characteristics
VMLTX:
1.98
FMNDX:
3.24
VMLTX:
2.96
FMNDX:
8.81
VMLTX:
1.47
FMNDX:
3.27
VMLTX:
3.27
FMNDX:
17.28
VMLTX:
8.47
FMNDX:
45.91
VMLTX:
0.39%
FMNDX:
0.08%
VMLTX:
1.67%
FMNDX:
1.06%
VMLTX:
-6.41%
FMNDX:
-1.69%
VMLTX:
-0.18%
FMNDX:
0.00%
Returns By Period
In the year-to-date period, VMLTX achieves a 0.79% return, which is significantly higher than FMNDX's 0.66% return. Over the past 10 years, VMLTX has outperformed FMNDX with an annualized return of 1.70%, while FMNDX has yielded a comparatively lower 1.41% annualized return.
VMLTX
0.79%
0.18%
1.03%
3.20%
1.36%
1.70%
FMNDX
0.66%
0.22%
1.46%
3.55%
1.69%
1.41%
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VMLTX vs. FMNDX - Expense Ratio Comparison
VMLTX has a 0.17% expense ratio, which is lower than FMNDX'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%.
Risk-Adjusted Performance
VMLTX vs. FMNDX — Risk-Adjusted Performance Rank
VMLTX
FMNDX
VMLTX vs. FMNDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX). 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
VMLTX vs. FMNDX - Dividend Comparison
VMLTX's dividend yield for the trailing twelve months is around 2.58%, less than FMNDX's 3.18% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | 2.58% | 2.79% | 2.30% | 1.57% | 1.23% | 1.63% | 1.87% | 1.82% | 1.55% | 1.53% | 1.51% | 1.61% |
FMNDX Fidelity Conservative Income Municipal Bond Fund Institutional Class | 3.18% | 3.24% | 2.88% | 1.07% | 0.27% | 0.86% | 1.57% | 1.44% | 0.97% | 0.69% | 0.41% | 0.26% |
Drawdowns
VMLTX vs. FMNDX - Drawdown Comparison
The maximum VMLTX drawdown since its inception was -6.41%, which is greater than FMNDX's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for VMLTX and FMNDX. For additional features, visit the drawdowns tool.
Volatility
VMLTX vs. FMNDX - Volatility Comparison
Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) has a higher volatility of 0.47% compared to Fidelity Conservative Income Municipal Bond Fund Institutional Class (FMNDX) at 0.26%. This indicates that VMLTX's price experiences larger fluctuations and is considered to be riskier than FMNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.