DMREX vs. FNYPX
Compare and contrast key facts about DFA Municipal Real Return Portfolio (DMREX) and Fidelity Advisor New York Municipal Income Fund Class M (FNYPX).
DMREX is managed by Dimensional. It was launched on Nov 3, 2014. FNYPX is managed by Fidelity. It was launched on Aug 1, 2002.
Performance
DMREX vs. FNYPX - Performance Comparison
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DMREX vs. FNYPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DMREX DFA Municipal Real Return Portfolio | 1.10% | 2.77% | 3.10% | 2.56% | -1.42% | 6.75% | 4.11% | 6.64% | -0.51% | 2.57% |
FNYPX Fidelity Advisor New York Municipal Income Fund Class M | -0.54% | 4.66% | 0.82% | 6.98% | -11.23% | 2.07% | 3.85% | 7.51% | 0.01% | 5.02% |
Returns By Period
In the year-to-date period, DMREX achieves a 1.10% return, which is significantly higher than FNYPX's -0.54% return. Over the past 10 years, DMREX has outperformed FNYPX with an annualized return of 2.77%, while FNYPX has yielded a comparatively lower 1.58% annualized return.
DMREX
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 1.10%
- 6M
- 1.08%
- 1Y
- 2.48%
- 3Y*
- 2.54%
- 5Y*
- 2.66%
- 10Y*
- 2.77%
FNYPX
- 1D
- 0.33%
- 1M
- -2.45%
- YTD
- -0.54%
- 6M
- 1.03%
- 1Y
- 3.72%
- 3Y*
- 2.90%
- 5Y*
- 0.44%
- 10Y*
- 1.58%
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DMREX vs. FNYPX - Expense Ratio Comparison
DMREX has a 0.24% expense ratio, which is lower than FNYPX's 0.74% expense ratio.
Return for Risk
DMREX vs. FNYPX — Risk / Return Rank
DMREX
FNYPX
DMREX vs. FNYPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Municipal Real Return Portfolio (DMREX) and Fidelity Advisor New York Municipal Income Fund Class M (FNYPX). 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.
| DMREX | FNYPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.23 | 0.82 | +1.41 |
Sortino ratioReturn per unit of downside risk | 3.23 | 1.10 | +2.13 |
Omega ratioGain probability vs. loss probability | 1.60 | 1.23 | +0.37 |
Calmar ratioReturn relative to maximum drawdown | 2.90 | 0.94 | +1.97 |
Martin ratioReturn relative to average drawdown | 9.35 | 2.99 | +6.36 |
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
| DMREX | FNYPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 0.82 | +1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.09 | 0.10 | +0.98 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.38 | +0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.56 | +0.30 |
Correlation
The correlation between DMREX and FNYPX is 0.29, 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.
Dividends
DMREX vs. FNYPX - Dividend Comparison
DMREX's dividend yield for the trailing twelve months is around 3.30%, more than FNYPX's 2.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DMREX DFA Municipal Real Return Portfolio | 3.30% | 2.95% | 3.55% | 1.96% | 1.16% | 0.98% | 1.44% | 2.26% | 1.54% | 1.32% | 1.15% | 1.09% |
FNYPX Fidelity Advisor New York Municipal Income Fund Class M | 2.65% | 3.43% | 2.11% | 2.17% | 1.62% | 2.27% | 2.49% | 2.59% | 2.53% | 3.36% | 3.93% | 3.54% |
Drawdowns
DMREX vs. FNYPX - Drawdown Comparison
The maximum DMREX drawdown since its inception was -13.22%, smaller than the maximum FNYPX drawdown of -17.16%. Use the drawdown chart below to compare losses from any high point for DMREX and FNYPX.
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Drawdown Indicators
| DMREX | FNYPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.22% | -17.16% | +3.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.92% | -5.19% | +4.27% |
Max Drawdown (5Y)Largest decline over 5 years | -5.33% | -16.27% | +10.94% |
Max Drawdown (10Y)Largest decline over 10 years | -13.22% | -16.27% | +3.05% |
Current DrawdownCurrent decline from peak | -0.32% | -2.84% | +2.52% |
Average DrawdownAverage peak-to-trough decline | -0.89% | -3.17% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 1.63% | -1.34% |
Volatility
DMREX vs. FNYPX - Volatility Comparison
The current volatility for DFA Municipal Real Return Portfolio (DMREX) is 0.48%, while Fidelity Advisor New York Municipal Income Fund Class M (FNYPX) has a volatility of 1.35%. This indicates that DMREX experiences smaller price fluctuations and is considered to be less risky than FNYPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DMREX | FNYPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 1.35% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 0.71% | 1.89% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.17% | 5.19% | -4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.47% | 4.27% | -1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.14% | 4.23% | -1.09% |