FIWEX vs. NQP
Compare and contrast key facts about Fidelity Advisor Municipal Income Fund Class Z (FIWEX) and Nuveen Pennsylvania Quality Municipal Income (NQP).
FIWEX is managed by Fidelity. It was launched on Oct 2, 2018. NQP is an actively managed fund by Nuveen. It was launched on Feb 21, 1991.
Performance
FIWEX vs. NQP - Performance Comparison
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FIWEX vs. NQP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIWEX Fidelity Advisor Municipal Income Fund Class Z | -0.49% | 5.33% | 1.79% | 6.89% | -10.82% | 2.48% | 4.74% | 8.46% | 2.59% |
NQP Nuveen Pennsylvania Quality Municipal Income | 2.14% | 15.46% | 2.70% | 7.44% | -21.95% | 7.75% | 7.08% | 21.21% | 0.47% |
Returns By Period
In the year-to-date period, FIWEX achieves a -0.49% return, which is significantly lower than NQP's 2.14% return.
FIWEX
- 1D
- 0.33%
- 1M
- -2.40%
- YTD
- -0.49%
- 6M
- 1.05%
- 1Y
- 4.12%
- 3Y*
- 3.42%
- 5Y*
- 0.88%
- 10Y*
- —
NQP
- 1D
- -0.17%
- 1M
- -0.51%
- YTD
- 2.14%
- 6M
- 2.76%
- 1Y
- 13.70%
- 3Y*
- 7.94%
- 5Y*
- 1.65%
- 10Y*
- 3.34%
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FIWEX vs. NQP - Expense Ratio Comparison
FIWEX has a 0.42% expense ratio, which is lower than NQP's 1.27% expense ratio.
Return for Risk
FIWEX vs. NQP — Risk / Return Rank
FIWEX
NQP
FIWEX vs. NQP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Municipal Income Fund Class Z (FIWEX) and Nuveen Pennsylvania Quality Municipal Income (NQP). 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.
| FIWEX | NQP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 1.50 | -0.57 |
Sortino ratioReturn per unit of downside risk | 1.26 | 2.27 | -1.02 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.11 | 3.27 | -2.16 |
Martin ratioReturn relative to average drawdown | 3.79 | 8.94 | -5.15 |
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
| FIWEX | NQP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 1.50 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.17 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.41 | +0.15 |
Correlation
The correlation between FIWEX and NQP is 0.46, 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.
Dividends
FIWEX vs. NQP - Dividend Comparison
FIWEX's dividend yield for the trailing twelve months is around 3.11%, less than NQP's 7.86% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIWEX Fidelity Advisor Municipal Income Fund Class Z | 3.11% | 4.05% | 3.00% | 2.63% | 2.07% | 2.69% | 3.03% | 3.19% | 0.81% | 0.00% | 0.00% | 0.00% |
NQP Nuveen Pennsylvania Quality Municipal Income | 7.86% | 7.87% | 6.69% | 3.07% | 4.89% | 4.51% | 4.38% | 4.23% | 5.34% | 5.34% | 5.67% | 6.10% |
Drawdowns
FIWEX vs. NQP - Drawdown Comparison
The maximum FIWEX drawdown since its inception was -16.14%, smaller than the maximum NQP drawdown of -41.87%. Use the drawdown chart below to compare losses from any high point for FIWEX and NQP.
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Drawdown Indicators
| FIWEX | NQP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.14% | -41.87% | +25.73% |
Max Drawdown (1Y)Largest decline over 1 year | -4.84% | -4.63% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.14% | -32.41% | +16.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.41% | — |
Current DrawdownCurrent decline from peak | -2.71% | -1.68% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -6.93% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.69% | -0.27% |
Volatility
FIWEX vs. NQP - Volatility Comparison
The current volatility for Fidelity Advisor Municipal Income Fund Class Z (FIWEX) is 1.19%, while Nuveen Pennsylvania Quality Municipal Income (NQP) has a volatility of 4.13%. This indicates that FIWEX experiences smaller price fluctuations and is considered to be less risky than NQP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIWEX | NQP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 4.13% | -2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 5.32% | -3.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.94% | 9.22% | -4.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 9.80% | -5.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 10.85% | -6.15% |