FNMIX vs. SPY
Compare and contrast key facts about Fidelity New Markets Income Fund (FNMIX) and State Street SPDR S&P 500 ETF (SPY).
FNMIX is managed by Fidelity. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
FNMIX vs. SPY - Performance Comparison
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FNMIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNMIX Fidelity New Markets Income Fund | -1.02% | 14.86% | 6.80% | 14.00% | -16.09% | -2.42% | 4.62% | 10.93% | -7.77% | 10.16% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, FNMIX achieves a -1.02% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, FNMIX has underperformed SPY with an annualized return of 3.90%, while SPY has yielded a comparatively higher 13.98% annualized return.
FNMIX
- 1D
- -0.15%
- 1M
- -3.77%
- YTD
- -1.02%
- 6M
- 2.67%
- 1Y
- 10.54%
- 3Y*
- 10.89%
- 5Y*
- 3.53%
- 10Y*
- 3.90%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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FNMIX vs. SPY - Expense Ratio Comparison
FNMIX has a 0.80% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
FNMIX vs. SPY — Risk / Return Rank
FNMIX
SPY
FNMIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New Markets Income Fund (FNMIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| FNMIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.08 | 0.93 | +1.15 |
Sortino ratioReturn per unit of downside risk | 2.89 | 1.45 | +1.44 |
Omega ratioGain probability vs. loss probability | 1.44 | 1.22 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 2.12 | 1.53 | +0.59 |
Martin ratioReturn relative to average drawdown | 9.40 | 7.30 | +2.10 |
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
| FNMIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 0.93 | +1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.69 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.78 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.56 | +0.23 |
Correlation
The correlation between FNMIX and SPY is 0.33, 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
FNMIX vs. SPY - Dividend Comparison
FNMIX's dividend yield for the trailing twelve months is around 4.66%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNMIX Fidelity New Markets Income Fund | 4.66% | 5.07% | 4.71% | 5.15% | 3.93% | 3.48% | 4.06% | 4.87% | 4.98% | 5.77% | 6.93% | 4.95% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
FNMIX vs. SPY - Drawdown Comparison
The maximum FNMIX drawdown since its inception was -42.76%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FNMIX and SPY.
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Drawdown Indicators
| FNMIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -55.19% | +12.43% |
Max Drawdown (1Y)Largest decline over 1 year | -5.12% | -12.05% | +6.93% |
Max Drawdown (5Y)Largest decline over 5 years | -27.16% | -24.50% | -2.66% |
Max Drawdown (10Y)Largest decline over 10 years | -27.16% | -33.72% | +6.56% |
Current DrawdownCurrent decline from peak | -3.85% | -6.24% | +2.39% |
Average DrawdownAverage peak-to-trough decline | -5.72% | -9.09% | +3.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 2.52% | -1.36% |
Volatility
FNMIX vs. SPY - Volatility Comparison
The current volatility for Fidelity New Markets Income Fund (FNMIX) is 1.70%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that FNMIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNMIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 5.31% | -3.61% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 9.47% | -6.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.25% | 19.05% | -13.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 17.06% | -10.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.94% | 17.92% | -10.98% |