FNMAX vs. VNYTX
Compare and contrast key facts about Fidelity Advisor New York Municipal Income Fund Class A (FNMAX) and Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX).
FNMAX is managed by Fidelity. It was launched on Aug 1, 2002. VNYTX is managed by Vanguard. It was launched on Apr 7, 1986.
Performance
FNMAX vs. VNYTX - Performance Comparison
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FNMAX vs. VNYTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNMAX Fidelity Advisor New York Municipal Income Fund Class A | -0.55% | 4.60% | 0.58% | 6.93% | -11.28% | 2.13% | 3.74% | 7.47% | -0.03% | 4.96% |
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | -0.32% | 4.72% | 2.49% | 8.00% | -11.00% | 2.01% | 5.52% | 8.61% | 0.51% | 5.79% |
Returns By Period
In the year-to-date period, FNMAX achieves a -0.55% return, which is significantly lower than VNYTX's -0.32% return. Over the past 10 years, FNMAX has underperformed VNYTX with an annualized return of 1.52%, while VNYTX has yielded a comparatively higher 2.35% annualized return.
FNMAX
- 1D
- 0.33%
- 1M
- -2.46%
- YTD
- -0.55%
- 6M
- 1.01%
- 1Y
- 3.68%
- 3Y*
- 2.79%
- 5Y*
- 0.36%
- 10Y*
- 1.52%
VNYTX
- 1D
- 0.28%
- 1M
- -2.27%
- YTD
- -0.32%
- 6M
- 1.17%
- 1Y
- 4.23%
- 3Y*
- 3.78%
- 5Y*
- 1.12%
- 10Y*
- 2.35%
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FNMAX vs. VNYTX - Expense Ratio Comparison
FNMAX has a 0.77% expense ratio, which is higher than VNYTX's 0.17% expense ratio.
Return for Risk
FNMAX vs. VNYTX — Risk / Return Rank
FNMAX
VNYTX
FNMAX vs. VNYTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor New York Municipal Income Fund Class A (FNMAX) and Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX). 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.
| FNMAX | VNYTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 0.85 | -0.03 |
Sortino ratioReturn per unit of downside risk | 1.09 | 1.16 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.23 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.93 | 1.00 | -0.07 |
Martin ratioReturn relative to average drawdown | 2.95 | 3.22 | -0.27 |
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
| FNMAX | VNYTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.85 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.24 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.51 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 1.00 | -0.45 |
Correlation
The correlation between FNMAX and VNYTX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FNMAX vs. VNYTX - Dividend Comparison
FNMAX's dividend yield for the trailing twelve months is around 2.61%, less than VNYTX's 3.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNMAX Fidelity Advisor New York Municipal Income Fund Class A | 2.61% | 3.38% | 1.87% | 2.12% | 1.57% | 2.27% | 2.46% | 2.55% | 2.49% | 3.31% | 3.88% | 3.48% |
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 3.65% | 4.44% | 3.93% | 2.85% | 2.86% | 2.75% | 3.43% | 3.52% | 3.44% | 3.64% | 3.82% | 3.36% |
Drawdowns
FNMAX vs. VNYTX - Drawdown Comparison
The maximum FNMAX drawdown since its inception was -17.16%, smaller than the maximum VNYTX drawdown of -21.73%. Use the drawdown chart below to compare losses from any high point for FNMAX and VNYTX.
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Drawdown Indicators
| FNMAX | VNYTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.16% | -21.73% | +4.57% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -5.55% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -16.33% | -16.67% | +0.34% |
Max Drawdown (10Y)Largest decline over 10 years | -16.33% | -16.67% | +0.34% |
Current DrawdownCurrent decline from peak | -2.84% | -2.63% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -3.20% | -2.51% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.72% | -0.09% |
Volatility
FNMAX vs. VNYTX - Volatility Comparison
Fidelity Advisor New York Municipal Income Fund Class A (FNMAX) and Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) have volatilities of 1.33% and 1.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNMAX | VNYTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.32% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.88% | 2.04% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.18% | 5.63% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.26% | 4.73% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.23% | 4.58% | -0.35% |