FTFMX vs. VNYTX
Compare and contrast key facts about Fidelity New York Municipal Income Fund (FTFMX) and Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX).
FTFMX is managed by Fidelity. It was launched on Jul 10, 1984. VNYTX is managed by Vanguard. It was launched on Apr 7, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FTFMX or VNYTX.
Performance
FTFMX vs. VNYTX - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with FTFMX having a 2.33% return and VNYTX slightly lower at 2.26%. Over the past 10 years, FTFMX has underperformed VNYTX with an annualized return of 1.92%, while VNYTX has yielded a comparatively higher 2.40% annualized return.
FTFMX
2.33%
1.38%
3.75%
6.95%
0.82%
1.92%
VNYTX
2.26%
1.40%
3.79%
7.42%
1.04%
2.40%
Key characteristics
| FTFMX | VNYTX | |
|---|---|---|
| Sharpe Ratio | 1.53 | 1.83 |
| Sortino Ratio | 2.22 | 2.69 |
| Omega Ratio | 1.34 | 1.41 |
| Calmar Ratio | 0.76 | 0.81 |
| Martin Ratio | 5.50 | 7.53 |
| Ulcer Index | 1.05% | 0.99% |
| Daily Std Dev | 3.84% | 4.07% |
| Max Drawdown | -19.44% | -19.30% |
| Current Drawdown | -2.79% | -2.37% |
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FTFMX vs. VNYTX - Expense Ratio Comparison
FTFMX has a 0.46% expense ratio, which is higher than VNYTX's 0.17% expense ratio.
Correlation
The correlation between FTFMX and VNYTX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
FTFMX vs. VNYTX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New York Municipal Income Fund (FTFMX) and Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX). 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. VNYTX - Dividend Comparison
FTFMX's dividend yield for the trailing twelve months is around 2.75%, less than VNYTX's 3.32% 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% |
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 3.32% | 3.11% | 2.86% | 2.43% | 2.65% | 2.94% | 3.21% | 3.17% | 3.81% | 3.29% | 3.40% | 3.60% |
Drawdowns
FTFMX vs. VNYTX - Drawdown Comparison
The maximum FTFMX drawdown since its inception was -19.44%, roughly equal to the maximum VNYTX drawdown of -19.30%. Use the drawdown chart below to compare losses from any high point for FTFMX and VNYTX. For additional features, visit the drawdowns tool.
Volatility
FTFMX vs. VNYTX - Volatility Comparison
The current volatility for Fidelity New York Municipal Income Fund (FTFMX) is 1.65%, while Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) has a volatility of 1.80%. This indicates that FTFMX experiences smaller price fluctuations and is considered to be less risky than VNYTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.