FTFMX vs. NYF
Compare and contrast key facts about Fidelity New York Municipal Income Fund (FTFMX) and iShares New York Muni Bond ETF (NYF).
FTFMX is managed by Fidelity. It was launched on Jul 10, 1984. NYF is a passively managed fund by iShares that tracks the performance of the S&P New York AMT-Free Municipal Bond Index. It was launched on Oct 4, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FTFMX or NYF.
Performance
FTFMX vs. NYF - Performance Comparison
Returns By Period
In the year-to-date period, FTFMX achieves a 2.09% return, which is significantly higher than NYF's 1.51% return. Over the past 10 years, FTFMX has underperformed NYF with an annualized return of 1.91%, while NYF has yielded a comparatively higher 2.06% annualized return.
FTFMX
2.09%
-0.48%
2.57%
7.41%
0.77%
1.91%
NYF
1.51%
-0.33%
2.09%
5.55%
0.96%
2.06%
Key characteristics
| FTFMX | NYF | |
|---|---|---|
| Sharpe Ratio | 1.73 | 1.69 |
| Sortino Ratio | 2.54 | 2.42 |
| Omega Ratio | 1.40 | 1.33 |
| Calmar Ratio | 0.73 | 0.88 |
| Martin Ratio | 6.41 | 6.71 |
| Ulcer Index | 1.04% | 0.87% |
| Daily Std Dev | 3.85% | 3.44% |
| Max Drawdown | -19.44% | -13.12% |
| Current Drawdown | -3.03% | -1.47% |
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FTFMX vs. NYF - Expense Ratio Comparison
FTFMX has a 0.46% expense ratio, which is higher than NYF's 0.25% expense ratio.
Correlation
The correlation between FTFMX and NYF is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
FTFMX vs. NYF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New York Municipal Income Fund (FTFMX) and iShares New York Muni Bond ETF (NYF). 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.
Dividends
FTFMX vs. NYF - Dividend Comparison
FTFMX's dividend yield for the trailing twelve months is around 2.75%, more than NYF's 2.72% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTFMX Fidelity New York Municipal Income Fund | 2.75% | 2.63% | 2.48% | 2.16% | 2.30% | 2.46% | 2.68% | 2.78% | 3.03% | 4.05% | 3.42% | 3.58% |
NYF iShares New York Muni Bond ETF | 2.72% | 2.36% | 2.04% | 1.84% | 1.97% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% | 2.81% | 3.05% |
Drawdowns
FTFMX vs. NYF - Drawdown Comparison
The maximum FTFMX drawdown since its inception was -19.44%, which is greater than NYF's maximum drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for FTFMX and NYF. For additional features, visit the drawdowns tool.
Volatility
FTFMX vs. NYF - Volatility Comparison
Fidelity New York Municipal Income Fund (FTFMX) has a higher volatility of 1.97% compared to iShares New York Muni Bond ETF (NYF) at 1.78%. This indicates that FTFMX's price experiences larger fluctuations and is considered to be riskier than NYF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.