FNYPX vs. NUV
FNYPX (Fidelity Advisor New York Municipal Income Fund Class M) and NUV (Nuveen Municipal Value Fund Inc.) are both Municipal Bonds funds. Over the past 10 years, FNYPX returned 1.37%/yr vs 2.33%/yr for NUV. Their 0.21 correlation means their historical movements had little consistent relationship. FNYPX charges 0.74%/yr vs 0.52%/yr for NUV.
Performance
FNYPX vs. NUV - Performance Comparison
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Returns By Period
In the year-to-date period, FNYPX achieves a 0.05% return, which is significantly lower than NUV's 3.54% return. Over the past 10 years, FNYPX has underperformed NUV with an annualized return of 1.37%, while NUV has yielded a comparatively higher 2.33% 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%
NUV
- 1D
- 0.33%
- 1M
- -0.52%
- 6M
- 2.26%
- YTD
- 3.54%
- 1Y
- 10.82%
- 3Y*
- 5.98%
- 5Y*
- -1.04%
- 10Y*
- 2.33%
- ALL TIME*
- 3.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $4.58M | $4.45M | $4.78M |
FNYPX vs. NUV - 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% |
NUV Nuveen Municipal Value Fund Inc. | 3.54% | 10.27% | 4.04% | 3.99% | -14.03% | -3.51% | 7.50% | 19.75% | -4.83% | 10.33% |
Correlation
The correlation between FNYPX and NUV is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.38 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1993 | 0.21 |
The correlation between FNYPX and NUV shifts across timeframes, from 0.21 (all time) to 0.42 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FNYPX vs. NUV — Risk / Return Rank
FNYPX
NUV
FNYPX vs. NUV - 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 Nuveen Municipal Value Fund Inc. (NUV). 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 | NUV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.32 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 2.81 | -1.01 |
| Martin ratioReturn relative to average drawdown | 5.72 | 13.26 | -7.54 |
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Drawdowns
FNYPX vs. NUV - Drawdown Comparison
The maximum FNYPX drawdown since its inception was -17.16%, smaller than the maximum NUV drawdown of -35.42%. Use the drawdown chart below to compare losses from any high point for FNYPX and NUV.
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Drawdown Indicators
| FNYPX | NUV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.16% | -35.42% | +18.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -4.20% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -7.98% | +1.91% |
Max Drawdown (5Y)Largest decline over 5 years | -16.22% | -28.29% | +12.07% |
Max Drawdown (10Y)Largest decline over 10 years | -16.27% | -28.29% | +12.02% |
Current DrawdownCurrent decline from peak | -2.31% | -6.28% | +3.97% |
Average DrawdownAverage peak-to-trough decline | -3.15% | -8.98% | +5.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.89% | +0.15% |
Volatility
FNYPX vs. NUV - Volatility Comparison
The current volatility for Fidelity Advisor New York Municipal Income Fund Class M (FNYPX) is 1.03%, while Nuveen Municipal Value Fund Inc. (NUV) has a volatility of 1.41%. This indicates that FNYPX experiences smaller price fluctuations and is considered to be less risky than NUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNYPX | NUV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.41% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 5.12% | -2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.13% | 6.71% | -3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.35% | 9.49% | -5.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 10.29% | -6.03% |
FNYPX vs. NUV - Expense Ratio Comparison
FNYPX has a 0.74% expense ratio, which is higher than NUV's 0.52% expense ratio.
Dividends
FNYPX vs. NUV - Dividend Comparison
FNYPX's dividend yield for the trailing twelve months is around 2.50%, less than NUV's 4.26% 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% |
NUV Nuveen Municipal Value Fund Inc. | 4.26% | 4.30% | 4.16% | 3.94% | 3.91% | 3.41% | 3.35% | 3.48% | 4.01% | 3.99% | 4.10% | 3.95% |
Frequently Asked Questions
FNYPX and NUV have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NUV has higher volatility (1.41%) compared to FNYPX (1.03%). In terms of maximum drawdown, FNYPX dropped -17.16% vs NUV's -35.42%.
FNYPX currently has the higher Sharpe Ratio (1.91 vs 1.76), 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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