FNYPX vs. FXIEX

Last updated Aug 1, 2026

FNYPX (Fidelity Advisor New York Municipal Income Fund Class M) and FXIEX (PIMCO Fixed Income SHares: Series TE) are both Municipal Bonds funds. Over the past 10 years, FNYPX returned 1.37%/yr vs 2.71%/yr for FXIEX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FNYPX charges 0.74%/yr vs 0.07%/yr for FXIEX.

Performance

FNYPX vs. FXIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor New York Municipal Income Fund Class M (FNYPX) and PIMCO Fixed Income SHares: Series TE (FXIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNYPX achieves a 0.05% return, which is significantly lower than FXIEX's 0.97% return. Over the past 10 years, FNYPX has underperformed FXIEX with an annualized return of 1.37%, while FXIEX has yielded a comparatively higher 2.71% annualized return.

FNYPX

• 1D: -0.24%
• 1M: -2.31%
• 6M: -0.74%
• YTD: 0.05%
• 1Y: 5.08%
• 3Y*: 2.91%
• 5Y*: -0.04%
• 10Y*: 1.37%
• ALL TIME*: 2.37%

FXIEX

• 1D: -0.21%
• 1M: -1.62%
• 6M: 0.66%
• YTD: 0.97%
• 1Y: 5.57%
• 3Y*: 4.44%
• 5Y*: 1.26%
• 10Y*: 2.71%
• ALL TIME*: 2.11%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FNYPX Fidelity Advisor New York Municipal Income Fund Class M	$0.00	$0.00	$0.00
FXIEX PIMCO Fixed Income SHares: Series TE	$0.00	$0.00	$0.00

FNYPX vs. FXIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNYPX Fidelity Advisor New York Municipal Income Fund Class M	0.05%	4.66%	0.82%	6.98%	-11.23%	2.07%	3.85%	7.51%	0.01%	5.02%
FXIEX PIMCO Fixed Income SHares: Series TE	0.97%	3.37%	5.16%	8.92%	-10.89%	2.19%	7.22%	8.45%	1.00%	7.71%

Correlation

The correlation between FNYPX and FXIEX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Jun 25, 2012	0.73

The correlation between FNYPX and FXIEX shifts across timeframes, from 0.73 (all time) to 0.86 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FNYPX vs. FXIEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FNYPX

FNYPX Risk / Return Rank: 64
FNYPX Sharpe Ratio Rank: 79
FNYPX Sortino Ratio Rank: 78
FNYPX Omega Ratio Rank: 86
FNYPX Calmar Ratio Rank: 42
FNYPX Martin Ratio Rank: 37

FXIEX

FXIEX Risk / Return Rank: 90
FXIEX Sharpe Ratio Rank: 89
FXIEX Sortino Ratio Rank: 94
FXIEX Omega Ratio Rank: 93
FXIEX Calmar Ratio Rank: 88
FXIEX Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FNYPX vs. FXIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor New York Municipal Income Fund Class M (FNYPX) and PIMCO Fixed Income SHares: Series TE (FXIEX). 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.

	FNYPX	FXIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.23	-0.32
Sortino ratio: Return per unit of downside risk	2.75	3.77	-1.02
Omega ratio: Gain probability vs. loss probability	1.43	1.54	-0.11
Calmar ratio: Return relative to maximum drawdown	1.80	3.16	-1.36
Martin ratio: Return relative to average drawdown	5.72	10.57	-4.85

FNYPX vs. FXIEX - Sharpe Ratio Comparison

The current FNYPX Sharpe Ratio is 1.91, which is comparable to the FXIEX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of FNYPX and FXIEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FNYPX vs. FXIEX - Drawdown Comparison

The maximum FNYPX drawdown since its inception was -17.16%, which is greater than FXIEX's maximum drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for FNYPX and FXIEX.

Drawdown Indicators

	FNYPX	FXIEX	Difference
Max Drawdown Largest peak-to-trough decline	-17.16%	-15.25%	-1.91%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-2.42%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	-6.07%	-5.56%	-0.51%
Max Drawdown (5Y) Largest decline over 5 years	-16.22%	-15.25%	-0.97%
Max Drawdown (10Y) Largest decline over 10 years	-16.27%	-15.25%	-1.02%
Current Drawdown Current decline from peak	-2.31%	-1.62%	-0.69%
Average Drawdown Average peak-to-trough decline	-3.15%	-2.87%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.74%	+0.30%

Volatility

FNYPX vs. FXIEX - Volatility Comparison

Fidelity Advisor New York Municipal Income Fund Class M (FNYPX) has a higher volatility of 1.03% compared to PIMCO Fixed Income SHares: Series TE (FXIEX) at 0.83%. This indicates that FNYPX's price experiences larger fluctuations and is considered to be riskier than FXIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNYPX	FXIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	0.83%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	2.58%	2.36%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	3.13%	3.43%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.35%	4.39%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.26%	4.10%	+0.16%

FNYPX vs. FXIEX - Expense Ratio Comparison

FNYPX has a 0.74% expense ratio, which is higher than FXIEX's 0.07% expense ratio.

Dividends

FNYPX vs. FXIEX - Dividend Comparison

FNYPX's dividend yield for the trailing twelve months is around 2.50%, more than FXIEX's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNYPX Fidelity Advisor New York Municipal Income Fund Class M	2.50%	3.43%	2.11%	2.17%	1.62%	2.27%	2.49%	2.59%	2.53%	3.36%	3.93%	3.54%
FXIEX PIMCO Fixed Income SHares: Series TE	2.40%	2.75%	4.53%	3.98%	3.25%	2.63%	3.37%	3.63%	3.79%	2.67%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNYPX and FXIEX in my portfolio?

FNYPX and FXIEX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNYPX or FXIEX?

FNYPX has higher volatility (1.03%) compared to FXIEX (0.83%). In terms of maximum drawdown, FNYPX dropped -17.16% vs FXIEX's -15.25%.

Which has better risk-adjusted returns?

FXIEX currently has the higher Sharpe Ratio (2.23 vs 1.91), 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.