FMNY vs. NFTY
FMNY (First Trust New York High Income Municipal ETF) and NFTY (First Trust India NIFTY 50 Equal Weight ETF) are both exchange-traded funds - FMNY is a Municipal Bonds fund actively managed by First Trust, while NFTY is a Asia Pacific Equities fund tracking the NIFTY 50 Equal Weight Index. FMNY is actively managed, while NFTY is passively managed. Over the past 5 years, FMNY returned 0.59%/yr vs 4.57%/yr for NFTY. At a 0.10 correlation, their price movements are largely independent. FMNY charges 0.65%/yr vs 0.80%/yr for NFTY.
Performance
FMNY vs. NFTY - Performance Comparison
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Returns By Period
In the year-to-date period, FMNY achieves a 1.87% return, which is significantly higher than NFTY's -9.95% return.
FMNY
- 1D
- 0.06%
- 1M
- 0.60%
- YTD
- 1.87%
- 6M
- 2.23%
- 1Y
- 7.45%
- 3Y*
- 4.02%
- 5Y*
- 0.59%
- 10Y*
- —
NFTY
- 1D
- -1.11%
- 1M
- -4.14%
- YTD
- -9.95%
- 6M
- -9.47%
- 1Y
- -8.75%
- 3Y*
- 5.74%
- 5Y*
- 4.57%
- 10Y*
- 7.89%
FMNY vs. NFTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FMNY First Trust New York High Income Municipal ETF | 1.87% | 3.94% | 1.74% | 6.14% | -10.65% | 1.60% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | -9.95% | 5.47% | 5.18% | 24.00% | -3.46% | 12.37% |
Correlation
The correlation between FMNY and NFTY is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since May 14, 2021 | 0.10 |
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Return for Risk
FMNY vs. NFTY — Risk / Return Rank
FMNY
NFTY
FMNY vs. NFTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust New York High Income Municipal ETF (FMNY) and First Trust India NIFTY 50 Equal Weight ETF (NFTY). 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.
| FMNY | NFTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.87 | ||
| Sortino ratioReturn per unit of downside risk | +4.10 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 0.91 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | -0.54 | +3.19 |
| Martin ratioReturn relative to average drawdown | 8.54 | -1.41 | +9.95 |
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
| FMNY | NFTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.27 | -0.60 | +2.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.26 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.28 | -0.09 |
Drawdowns
FMNY vs. NFTY - Drawdown Comparison
The maximum FMNY drawdown since its inception was -15.90%, smaller than the maximum NFTY drawdown of -47.67%. Use the drawdown chart below to compare losses from any high point for FMNY and NFTY.
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Drawdown Indicators
| FMNY | NFTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.90% | -47.67% | +31.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -16.14% | +13.31% |
Max Drawdown (3Y)Largest decline over 3 years | -5.88% | -21.55% | +15.67% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -21.55% | +5.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.67% | — |
Current DrawdownCurrent decline from peak | -0.72% | -17.68% | +16.96% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -9.59% | +3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 6.21% | -5.34% |
Volatility
FMNY vs. NFTY - Volatility Comparison
The current volatility for First Trust New York High Income Municipal ETF (FMNY) is 0.84%, while First Trust India NIFTY 50 Equal Weight ETF (NFTY) has a volatility of 4.38%. This indicates that FMNY experiences smaller price fluctuations and is considered to be less risky than NFTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMNY | NFTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 4.38% | -3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 12.60% | -10.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 14.77% | -11.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 17.38% | -13.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.99% | 20.72% | -16.73% |
FMNY vs. NFTY - Expense Ratio Comparison
FMNY has a 0.65% expense ratio, which is lower than NFTY's 0.80% expense ratio.
Dividends
FMNY vs. NFTY - Dividend Comparison
FMNY's dividend yield for the trailing twelve months is around 3.68%, more than NFTY's 1.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMNY First Trust New York High Income Municipal ETF | 3.68% | 3.64% | 3.56% | 3.25% | 2.34% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.97% | 1.24% | 1.61% | 0.13% | 5.89% | 1.53% | 0.61% | 0.97% | 0.00% | 4.10% | 3.28% | 4.39% |
Frequently Asked Questions
FMNY and NFTY have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFTY has higher volatility (4.38%) compared to FMNY (0.84%). In terms of maximum drawdown, FMNY dropped -15.90% vs NFTY's -47.67%.
On 5-year performance, NFTY leads with 4.57% vs 0.59% for FMNY. On fees, FMNY is cheaper at 0.65% per year. On volatility, FMNY has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NFTY has performed better with a 4.57% return vs 0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FMNY is cheaper with a 0.65% expense ratio, compared with 0.80% for NFTY.
FMNY has the higher dividend yield at 3.68%, compared with 1.97% for NFTY.
FMNY is categorized as Municipal Bonds, while NFTY is Asia Pacific Equities. Their fees differ too: 0.65% for FMNY and 0.80% for NFTY.
FMNY currently has the higher Sharpe Ratio (2.27 vs -0.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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