Correlation
The correlation between FTFMX and RMUNX is 0.00, 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.
FTFMX vs. RMUNX
Compare and contrast key facts about Fidelity New York Municipal Income Fund (FTFMX) and Invesco Rochester New York Municipals Fund (RMUNX).
FTFMX is managed by Fidelity. It was launched on Jul 10, 1984. RMUNX is managed by Invesco. It was launched on May 14, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FTFMX or RMUNX.
Performance
FTFMX vs. RMUNX - Performance Comparison
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Key characteristics
FTFMX:
0.31
RMUNX:
-0.15
FTFMX:
0.37
RMUNX:
-0.24
FTFMX:
1.06
RMUNX:
0.96
FTFMX:
0.22
RMUNX:
-0.16
FTFMX:
0.70
RMUNX:
-0.62
FTFMX:
2.15%
RMUNX:
3.17%
FTFMX:
5.87%
RMUNX:
8.81%
FTFMX:
-19.44%
RMUNX:
-36.54%
FTFMX:
-4.39%
RMUNX:
-9.26%
Returns By Period
In the year-to-date period, FTFMX achieves a -1.85% return, which is significantly higher than RMUNX's -4.80% return. Over the past 10 years, FTFMX has underperformed RMUNX with an annualized return of 1.95%, while RMUNX has yielded a comparatively higher 3.21% annualized return.
FTFMX
-1.85%
-0.58%
-3.42%
1.83%
1.65%
0.67%
1.95%
RMUNX
-4.80%
-1.94%
-6.81%
-1.31%
0.41%
0.88%
3.21%
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FTFMX vs. RMUNX - Expense Ratio Comparison
FTFMX has a 0.46% expense ratio, which is lower than RMUNX's 0.78% expense ratio.
Risk-Adjusted Performance
FTFMX vs. RMUNX — Risk-Adjusted Performance Rank
FTFMX
RMUNX
FTFMX vs. RMUNX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New York Municipal Income Fund (FTFMX) and Invesco Rochester New York Municipals Fund (RMUNX). 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.
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Dividends
FTFMX vs. RMUNX - Dividend Comparison
FTFMX's dividend yield for the trailing twelve months is around 2.89%, less than RMUNX's 4.46% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTFMX Fidelity New York Municipal Income Fund | 2.89% | 2.80% | 2.63% | 2.62% | 2.87% | 2.77% | 2.86% | 3.01% | 3.64% | 3.97% | 4.05% | 3.42% |
RMUNX Invesco Rochester New York Municipals Fund | 4.46% | 4.11% | 3.78% | 3.64% | 3.25% | 3.29% | 3.23% | 3.40% | 4.78% | 6.01% | 6.56% | 11.00% |
Drawdowns
FTFMX vs. RMUNX - Drawdown Comparison
The maximum FTFMX drawdown since its inception was -19.44%, smaller than the maximum RMUNX drawdown of -36.54%. Use the drawdown chart below to compare losses from any high point for FTFMX and RMUNX.
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Volatility
FTFMX vs. RMUNX - Volatility Comparison
The current volatility for Fidelity New York Municipal Income Fund (FTFMX) is 0.80%, while Invesco Rochester New York Municipals Fund (RMUNX) has a volatility of 1.21%. This indicates that FTFMX experiences smaller price fluctuations and is considered to be less risky than RMUNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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