FMNY vs. RSPG
FMNY (First Trust New York High Income Municipal ETF) and RSPG (Invesco S&P 500 Equal Weight Energy ETF) are both exchange-traded funds - FMNY is a Municipal Bonds fund actively managed by First Trust, while RSPG is a Energy Equities fund tracking the S&P 500 Equal Weight Energy Plus Index. FMNY is actively managed, while RSPG is passively managed. Over the past 5 years, FMNY returned 0.48%/yr vs 21.24%/yr for RSPG. At a correlation of -0.06, they often move in opposite directions. FMNY charges 0.65%/yr vs 0.40%/yr for RSPG.
Performance
FMNY vs. RSPG - Performance Comparison
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Returns By Period
In the year-to-date period, FMNY achieves a 2.36% return, which is significantly lower than RSPG's 27.76% return.
FMNY
- 1D
- 0.01%
- 1M
- 0.44%
- 6M
- 1.63%
- YTD
- 2.36%
- 1Y
- 7.27%
- 3Y*
- 4.06%
- 5Y*
- 0.48%
- 10Y*
- —
RSPG
- 1D
- 0.21%
- 1M
- -2.84%
- 6M
- 23.53%
- YTD
- 27.76%
- 1Y
- 32.19%
- 3Y*
- 15.08%
- 5Y*
- 21.24%
- 10Y*
- 8.58%
FMNY vs. RSPG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FMNY First Trust New York High Income Municipal ETF | 2.36% | 3.94% | 1.74% | 6.14% | -10.65% | 1.67% |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 27.76% | 7.01% | 6.09% | 4.49% | 57.97% | 12.18% |
Correlation
The correlation between FMNY and RSPG is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | -0.06 |
The correlation between FMNY and RSPG shifts across timeframes, from -0.18 (1 year) to -0.06 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FMNY vs. RSPG — Risk / Return Rank
FMNY
RSPG
FMNY vs. RSPG - 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 Invesco S&P 500 Equal Weight Energy ETF (RSPG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FMNY | RSPG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.25 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 2.40 | +0.09 |
| Martin ratioReturn relative to average drawdown | 8.06 | 6.19 | +1.87 |
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Drawdowns
FMNY vs. RSPG - Drawdown Comparison
The maximum FMNY drawdown since its inception was -15.90%, smaller than the maximum RSPG drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for FMNY and RSPG.
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Drawdown Indicators
| FMNY | RSPG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.90% | -79.98% | +64.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -13.72% | +10.89% |
Max Drawdown (3Y)Largest decline over 3 years | -5.88% | -23.06% | +17.18% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -28.44% | +12.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -73.17% | — |
Current DrawdownCurrent decline from peak | -0.32% | -10.24% | +9.92% |
Average DrawdownAverage peak-to-trough decline | -5.58% | -25.39% | +19.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 5.31% | -4.43% |
Volatility
FMNY vs. RSPG - Volatility Comparison
The current volatility for First Trust New York High Income Municipal ETF (FMNY) is 0.41%, while Invesco S&P 500 Equal Weight Energy ETF (RSPG) has a volatility of 6.81%. This indicates that FMNY experiences smaller price fluctuations and is considered to be less risky than RSPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMNY | RSPG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 6.81% | -6.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 16.95% | -14.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.25% | 21.90% | -18.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.99% | 28.12% | -24.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.95% | 33.47% | -29.52% |
FMNY vs. RSPG - Expense Ratio Comparison
FMNY has a 0.65% expense ratio, which is higher than RSPG's 0.40% expense ratio.
Dividends
FMNY vs. RSPG - Dividend Comparison
FMNY's dividend yield for the trailing twelve months is around 3.69%, more than RSPG's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMNY First Trust New York High Income Municipal ETF | 3.69% | 3.64% | 3.56% | 3.25% | 2.34% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 2.08% | 2.60% | 2.43% | 2.84% | 3.43% | 2.37% | 3.15% | 2.15% | 2.18% | 2.55% | 1.14% | 2.80% |
Frequently Asked Questions
FMNY and RSPG have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSPG has higher volatility (6.81%) compared to FMNY (0.41%). In terms of maximum drawdown, FMNY dropped -15.90% vs RSPG's -79.98%.
On 5-year performance, RSPG leads with 21.24% vs 0.48% for FMNY. On fees, RSPG is cheaper at 0.40% per year. On volatility, FMNY has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, RSPG has performed better with a 21.24% return vs 0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSPG is cheaper with a 0.40% expense ratio, compared with 0.65% for FMNY.
FMNY has the higher dividend yield at 3.69%, compared with 2.08% for RSPG.
FMNY is categorized as Municipal Bonds, while RSPG is Energy Equities. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.65% for FMNY and 0.40% for RSPG.
FMNY currently has the higher Sharpe Ratio (2.17 vs 1.51), 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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