ATFCX vs FMNDX

Both ATFCX and FMNDX are mutual funds. ATFCX has a lower 5-year return than FMNDX (0.23% vs 0.81%). ATFCX has a higher expense ratio than FMNDX (1.33% vs 0.25%). Below is the comparison between ATFCX and FMNDX.

ATFCX FMNDX
Security Type Mutual fund Mutual fund
Segment Tax Exempt Fixed Income: Muni National Short Tax Exempt Fixed Income: Muni National Short
Family Invesco Fidelity Investments
Net Assets $69.90M $2.47B
Expense Ratio 1.33% 0.25%
Management Style active active
Dividend Yield 0.26% 0.25%
Minimum Investment $1,000.00 $1,000,000.00
YTD Return -4.23% -0.77%
1-Year Return -2.62% -0.40%
3-Year Return -0.22% 0.42%
5-Year Return 0.23% 0.81%
10-Year Return 0.61% N/A

ATFCX

ATFCX description

The Fund seeks to generate as high a level of tax-exempt income as is consistent with the preservation of capital, by investing in high-quality, intermediate-term municipal securities that have a maturity of 10 years or less.

ATFCX performance & returns
YTD Return -4.23%
1-Month Return -0.51%
3-Month Return -2.62%
1-Year Return -2.62%
3-Year Return -0.22%
5-Year Return 0.23%
10-Year Return 0.61%
ATFCX expense ratio is 1.33%.

ATFCX holdings

Top 10 Holdings (13.14% of Total Assets)

Name Symbol % Assets
NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 0.09% N/A 2.45%
TENNESSEE ENERGY ACQUISITION CORP GAS REV 5.25% N/A 1.78%
GULF COAST INDL DEV AUTH TEX REV 0.05% N/A 1.60%
METROPOLITAN TRANSN AUTH N Y REV 0.1% N/A 1.56%
BLACK BELT ENERGY GAS DIST ALA GAS PREPAY REV 4% N/A 1.27%
NEW YORK N Y CITY INDL DEV AGY REV 0.12% N/A 1.13%
ARIZONA HEALTH FACS AUTH REV 0.08% N/A 0.97%
MISSISSIPPI BUSINESS FIN CORP MISS GULF OPPORTUNITY ZONE 0.08% N/A 0.86%
CHESAPEAKE BAY BRDG & TUNL DIST VA REV 5% N/A 0.78%
MIZUHO FLOATER / RESIDUAL TR VAR STS 0.36% N/A 0.74%

ATFCX pros

None that we could think of.

ATFCX cons

The following are ATFCX weaknesses from our perspective:

  • ATFCX net assets are $69.90 million. This fund is not a popular choice with retail investors.
  • ATFCX 3-year return is -0.22%, which is lower than the 3-year return of the benchmark index (S&P Municipal Bond TR), -0.07%.
  • ATFCX 5-year return is 0.23%, which is lower than the 5-year return of the benchmark index (S&P Municipal Bond TR), 1.43%.
  • ATFCX 10-year return is 0.61%, which is lower than the 10-year return of the benchmark index (S&P Municipal Bond TR), 2.37%.
  • ATFCX expense ratio is 1.33%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • Warning: this fund has a 12b1 and deferred sales fee. The maximum 12b1 fee is 1%, while the maximum deferred sales load is 1%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Deferred sales load is a back-end sales charge and is imposed when an investor redeems shares.

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FMNDX

FMNDX description

The Fund seeks high level of income, exempt from federal income tax, consistent with preservation of capital. The Fund invests at least 80% of its assets in US dollar-denominated municipal money market securities and high quality investment-grade municipal debt securities whose interest is exempt from federal income tax.

FMNDX performance & returns
YTD Return -0.77%
1-Month Return 0.04%
3-Month Return -0.40%
1-Year Return -0.40%
3-Year Return 0.42%
5-Year Return 0.81%
10-Year Return N/A
FMNDX expense ratio is 0.25%.

FMNDX holdings

Top 10 Holdings (18.64% of Total Assets)

Name Symbol % Assets
TEXAS ST 4% N/A 3.33%
PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 0.5% N/A 3.19%
METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV 0.13% N/A 2.38%
Smithtown N Y Cent Sch Dist 2% N/A 2.17%
METROPOLITAN TRANSN AUTH N Y REV 5% N/A 1.63%
MICHIGAN FIN AUTH REV 0.59% N/A 1.61%
ST JAMES PARISH LA REV 0.2% N/A 1.51%
MAIN STR NAT GAS INC GA GAS SUPPLY REV 0.68% N/A 1.42%
JEA FLA WTR & SWR SYS REV 0.13% N/A 1.40%

FMNDX pros

The following are FMNDX strengths from our perspective:

  • FMNDX 5-year return is 0.81%, which is in line with the 5-year return of the benchmark index (Bloomberg Municipal 1 Yr 1-2 TR USD), 0.86%.
  • Good news: this fund does not have 12b1, front-end or back-end sales fees.

FMNDX cons

The following are FMNDX weaknesses from our perspective:

  • FMNDX 3-year return is 0.42%, which is lower than the 3-year return of the benchmark index (Bloomberg Municipal 1 Yr 1-2 TR USD), 0.5%.

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