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.
Key characteristics
| FTFMX | RMUNX | |
|---|---|---|
| YTD Return | 2.00% | 2.09% |
| 1Y Return | 8.60% | 11.34% |
| 3Y Return (Ann) | -0.76% | -1.23% |
| 5Y Return (Ann) | 0.87% | 1.88% |
| 10Y Return (Ann) | 1.89% | 4.32% |
| Sharpe Ratio | 2.00 | 2.06 |
| Sortino Ratio | 2.94 | 3.01 |
| Omega Ratio | 1.46 | 1.47 |
| Calmar Ratio | 0.76 | 0.82 |
| Martin Ratio | 7.63 | 9.56 |
| Ulcer Index | 1.02% | 1.20% |
| Daily Std Dev | 3.93% | 5.58% |
| Max Drawdown | -19.44% | -36.54% |
| Current Drawdown | -3.10% | -4.28% |
Correlation
The correlation between FTFMX and RMUNX is 0.68, 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.
Performance
FTFMX vs. RMUNX - Performance Comparison
The year-to-date returns for both investments are quite close, with FTFMX having a 2.00% return and RMUNX slightly higher at 2.09%. Over the past 10 years, FTFMX has underperformed RMUNX with an annualized return of 1.89%, while RMUNX has yielded a comparatively higher 4.32% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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 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.
Dividends
FTFMX vs. RMUNX - Dividend Comparison
FTFMX's dividend yield for the trailing twelve months is around 2.76%, less than RMUNX's 4.02% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTFMX Fidelity New York Municipal Income Fund | 2.76% | 2.63% | 2.48% | 2.16% | 2.30% | 2.46% | 2.68% | 2.78% | 3.03% | 4.05% | 3.42% | 3.58% |
RMUNX Invesco Rochester New York Municipals Fund | 4.02% | 3.78% | 3.64% | 3.25% | 3.29% | 3.23% | 3.40% | 4.78% | 6.01% | 6.56% | 11.00% | 13.31% |
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. For additional features, visit the drawdowns tool.
Volatility
FTFMX vs. RMUNX - Volatility Comparison
The current volatility for Fidelity New York Municipal Income Fund (FTFMX) is 1.98%, while Invesco Rochester New York Municipals Fund (RMUNX) has a volatility of 2.78%. 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.