FZITX vs. NPV
FZITX (Fidelity Advisor Intermediate Municipal Income Fund Class M) and NPV (Nuveen Virginia Quality Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, FZITX returned 1.61%/yr vs 1.50%/yr for NPV. Their 0.22 correlation means their historical movements had little consistent relationship. FZITX charges 0.60%/yr vs 1.51%/yr for NPV.
Performance
FZITX vs. NPV - Performance Comparison
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Returns By Period
In the year-to-date period, FZITX achieves a -0.56% return, which is significantly lower than NPV's 1.46% return. Over the past 10 years, FZITX has outperformed NPV with an annualized return of 1.61%, while NPV has yielded a comparatively lower 1.50% annualized return.
FZITX
- 1D
- -0.20%
- 1M
- -1.66%
- 6M
- -1.45%
- YTD
- -0.56%
- 1Y
- 3.04%
- 3Y*
- 2.96%
- 5Y*
- 0.59%
- 10Y*
- 1.61%
- ALL TIME*
- 2.50%
NPV
- 1D
- -0.55%
- 1M
- -5.83%
- 6M
- -1.18%
- YTD
- 1.46%
- 1Y
- 5.23%
- 3Y*
- 6.28%
- 5Y*
- -3.35%
- 10Y*
- 1.50%
- ALL TIME*
- 4.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $741.86K | $696.68K | $526.14K |
FZITX vs. NPV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FZITX Fidelity Advisor Intermediate Municipal Income Fund Class M | -0.56% | 5.62% | 0.91% | 5.22% | -7.09% | 0.73% | 4.24% | 6.25% | 0.92% | 4.17% |
NPV Nuveen Virginia Quality Municipal Income Fund | 1.46% | -5.91% | 24.61% | 0.42% | -31.53% | 10.93% | 13.15% | 29.60% | -4.42% | 3.20% |
Correlation
The correlation between FZITX and NPV is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2004 | 0.22 |
The correlation between FZITX and NPV shifts across timeframes, from 0.22 (all time) to 0.42 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FZITX vs. NPV — Risk / Return Rank
FZITX
NPV
FZITX vs. NPV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Intermediate Municipal Income Fund Class M (FZITX) and Nuveen Virginia Quality Municipal Income Fund (NPV). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FZITX | NPV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.15 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 0.95 | +0.30 |
| Martin ratioReturn relative to average drawdown | 3.33 | 3.15 | +0.17 |
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Drawdowns
FZITX vs. NPV - Drawdown Comparison
The maximum FZITX drawdown since its inception was -11.15%, smaller than the maximum NPV drawdown of -44.25%. Use the drawdown chart below to compare losses from any high point for FZITX and NPV.
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Drawdown Indicators
| FZITX | NPV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.15% | -44.25% | +33.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -6.15% | +3.18% |
Max Drawdown (3Y)Largest decline over 3 years | -3.72% | -18.29% | +14.57% |
Max Drawdown (5Y)Largest decline over 5 years | -11.15% | -44.25% | +33.10% |
Max Drawdown (10Y)Largest decline over 10 years | -11.15% | -44.25% | +33.10% |
Current DrawdownCurrent decline from peak | -2.48% | -19.99% | +17.51% |
Average DrawdownAverage peak-to-trough decline | -1.58% | -10.21% | +8.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 1.85% | -0.74% |
Volatility
FZITX vs. NPV - Volatility Comparison
The current volatility for Fidelity Advisor Intermediate Municipal Income Fund Class M (FZITX) is 0.78%, while Nuveen Virginia Quality Municipal Income Fund (NPV) has a volatility of 2.19%. This indicates that FZITX experiences smaller price fluctuations and is considered to be less risky than NPV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FZITX | NPV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 2.19% | -1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 1.92% | 5.24% | -3.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 7.19% | -4.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 13.46% | -10.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.22% | 13.15% | -9.93% |
FZITX vs. NPV - Expense Ratio Comparison
FZITX has a 0.60% expense ratio, which is lower than NPV's 1.51% expense ratio.
Dividends
FZITX vs. NPV - Dividend Comparison
FZITX's dividend yield for the trailing twelve months is around 2.44%, less than NPV's 7.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FZITX Fidelity Advisor Intermediate Municipal Income Fund Class M | 2.44% | 3.33% | 2.20% | 2.14% | 1.18% | 1.57% | 1.89% | 2.30% | 2.36% | 2.33% | 2.87% | 2.09% |
NPV Nuveen Virginia Quality Municipal Income Fund | 7.22% | 7.55% | 5.63% | 3.89% | 5.08% | 3.42% | 3.49% | 3.58% | 4.62% | 4.40% | 4.87% | 5.25% |
Frequently Asked Questions
FZITX and NPV have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NPV has higher volatility (2.19%) compared to FZITX (0.78%). In terms of maximum drawdown, FZITX dropped -11.15% vs NPV's -44.25%.
FZITX currently has the higher Sharpe Ratio (1.57 vs 0.81), 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.
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