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.
Key characteristics
| FTFMX | VNYTX | |
|---|---|---|
| YTD Return | 2.68% | 2.72% |
| 1Y Return | 8.55% | 9.25% |
| 3Y Return (Ann) | -0.34% | -0.33% |
| 5Y Return (Ann) | 1.24% | 1.51% |
| 10Y Return (Ann) | 2.44% | 2.79% |
| Sharpe Ratio | 2.57 | 2.02 |
| Daily Std Dev | 4.21% | 4.58% |
| Max Drawdown | -19.44% | -19.30% |
| Current Drawdown | -1.70% | -1.50% |
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.
Performance
FTFMX vs. VNYTX - Performance Comparison
The year-to-date returns for both investments are quite close, with FTFMX having a 2.68% return and VNYTX slightly higher at 2.72%. Over the past 10 years, FTFMX has underperformed VNYTX with an annualized return of 2.44%, while VNYTX has yielded a comparatively higher 2.79% 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. VNYTX - Expense Ratio Comparison
FTFMX has a 0.46% expense ratio, which is higher than VNYTX's 0.17% expense ratio.
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 2.71%, less than VNYTX's 2.99% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTFMX Fidelity New York Municipal Income Fund | 2.71% | 2.62% | 2.62% | 2.88% | 2.78% | 2.87% | 3.01% | 3.64% | 3.97% | 4.05% | 3.42% | 3.58% |
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 2.99% | 2.84% | 2.86% | 3.17% | 3.43% | 3.29% | 3.45% | 3.64% | 3.81% | 3.38% | 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
Fidelity New York Municipal Income Fund (FTFMX) has a higher volatility of 0.50% compared to Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) at 0.45%. This indicates that FTFMX's price experiences larger fluctuations and is considered to be riskier than VNYTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.