FTNYX vs. NMTRX

Last updated Jun 5, 2026

FTNYX (Delaware Tax-Free New York Fund) and NMTRX (Nuveen Municipal Total Return Managed Accounts) are both Municipal Bonds funds. Over the past 10 years, FTNYX returned 2.36%/yr vs 2.36%/yr for NMTRX. A 0.79 correlation means they provide meaningful diversification when combined. FTNYX charges 0.80%/yr vs 0.05%/yr for NMTRX.

Performance

FTNYX vs. NMTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Tax-Free New York Fund (FTNYX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FTNYX having a 2.50% return and NMTRX slightly lower at 2.47%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: FTNYX at 2.36% and NMTRX at 2.36%.

FTNYX

• 1D: 0.00%
• 1M: 1.03%
• YTD: 2.50%
• 6M: 2.75%
• 1Y: 7.54%
• 3Y*: 4.17%
• 5Y*: 0.83%
• 10Y*: 2.36%

NMTRX

• 1D: 0.00%
• 1M: 0.90%
• YTD: 2.47%
• 6M: 2.88%
• 1Y: 8.18%
• 3Y*: 4.20%
• 5Y*: 0.50%
• 10Y*: 2.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FTNYX vs. NMTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTNYX Delaware Tax-Free New York Fund	2.50%	2.46%	3.13%	8.24%	-12.26%	3.91%	5.15%	8.18%	0.70%	6.11%
NMTRX Nuveen Municipal Total Return Managed Accounts	2.47%	3.90%	1.99%	6.21%	-11.98%	2.69%	5.25%	9.26%	1.06%	7.41%

Correlation

The correlation between FTNYX and NMTRX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 1, 2007	0.79

The correlation between FTNYX and NMTRX has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

Return for Risk

FTNYX vs. NMTRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FTNYX

FTNYX Risk / Return Rank: 55
FTNYX Sharpe Ratio Rank: 53
FTNYX Sortino Ratio Rank: 63
FTNYX Omega Ratio Rank: 75
FTNYX Calmar Ratio Rank: 44
FTNYX Martin Ratio Rank: 39

NMTRX

NMTRX Risk / Return Rank: 81
NMTRX Sharpe Ratio Rank: 87
NMTRX Sortino Ratio Rank: 93
NMTRX Omega Ratio Rank: 93
NMTRX Calmar Ratio Rank: 72
NMTRX Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FTNYX vs. NMTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Tax-Free New York Fund (FTNYX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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.

	FTNYX	NMTRX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.84	-0.77
Sortino ratio: Return per unit of downside risk	3.23	4.70	-1.46
Omega ratio: Gain probability vs. loss probability	1.48	1.71	-0.23
Calmar ratio: Return relative to maximum drawdown	2.44	3.23	-0.78
Martin ratio: Return relative to average drawdown	8.23	11.87	-3.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTNYX vs. NMTRX - Sharpe Ratio Comparison

The current FTNYX Sharpe Ratio is 2.08, which is comparable to the NMTRX Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of FTNYX and NMTRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTNYX	NMTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	2.84	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.12	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.54	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	1.00	+0.11

Drawdowns

FTNYX vs. NMTRX - Drawdown Comparison

The maximum FTNYX drawdown since its inception was -17.11%, roughly equal to the maximum NMTRX drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for FTNYX and NMTRX.

Drawdown Indicators

	FTNYX	NMTRX	Difference
Max Drawdown Largest peak-to-trough decline	-17.11%	-16.36%	-0.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	-2.65%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-8.54%	-5.77%	-2.77%
Max Drawdown (5Y) Largest decline over 5 years	-17.11%	-16.36%	-0.75%
Max Drawdown (10Y) Largest decline over 10 years	-17.11%	-16.36%	-0.75%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.96%	-2.91%	+0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.72%	+0.24%

Volatility

FTNYX vs. NMTRX - Volatility Comparison

Delaware Tax-Free New York Fund (FTNYX) has a higher volatility of 1.49% compared to Nuveen Municipal Total Return Managed Accounts (NMTRX) at 1.25%. This indicates that FTNYX's price experiences larger fluctuations and is considered to be riskier than NMTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTNYX	NMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	1.25%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	2.25%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	3.01%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.34%	4.03%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.91%	4.40%	+0.51%

FTNYX vs. NMTRX - Expense Ratio Comparison

FTNYX has a 0.80% expense ratio, which is higher than NMTRX's 0.05% expense ratio.

Dividends

FTNYX vs. NMTRX - Dividend Comparison

FTNYX's dividend yield for the trailing twelve months is around 3.98%, less than NMTRX's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTNYX Delaware Tax-Free New York Fund	3.98%	5.09%	4.14%	3.13%	3.27%	2.39%	3.50%	3.97%	3.70%	3.81%	3.12%	3.14%
NMTRX Nuveen Municipal Total Return Managed Accounts	4.58%	4.46%	3.55%	3.67%	3.28%	2.73%	2.92%	3.20%	3.47%	3.28%	3.71%	3.91%

Frequently Asked Questions

Can I hold both FTNYX and NMTRX in my portfolio?

FTNYX and NMTRX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTNYX or NMTRX?

FTNYX has higher volatility (1.49%) compared to NMTRX (1.25%). In terms of maximum drawdown, FTNYX dropped -17.11% vs NMTRX's -16.36%.

Which has better risk-adjusted returns?

NMTRX currently has the higher Sharpe Ratio (2.84 vs 2.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.