NQP vs. FSMNX
Compare and contrast key facts about Nuveen Pennsylvania Quality Municipal Income (NQP) and Fidelity SAI Municipal Income Fund (FSMNX).
NQP is an actively managed fund by Nuveen. It was launched on Feb 21, 1991. FSMNX is managed by Fidelity. It was launched on Oct 2, 2018.
Performance
NQP vs. FSMNX - Performance Comparison
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NQP vs. FSMNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NQP Nuveen Pennsylvania Quality Municipal Income | 2.31% | 15.46% | 2.70% | 7.44% | -21.95% | 7.75% | 7.08% | 21.21% | 1.13% |
FSMNX Fidelity SAI Municipal Income Fund | -0.80% | 5.30% | 2.12% | 7.55% | -10.43% | 1.84% | 3.45% | 8.74% | 2.37% |
Returns By Period
In the year-to-date period, NQP achieves a 2.31% return, which is significantly higher than FSMNX's -0.80% return.
NQP
- 1D
- 3.20%
- 1M
- -0.18%
- YTD
- 2.31%
- 6M
- 3.36%
- 1Y
- 15.31%
- 3Y*
- 8.00%
- 5Y*
- 1.69%
- 10Y*
- 3.35%
FSMNX
- 1D
- 0.10%
- 1M
- -2.97%
- YTD
- -0.80%
- 6M
- 0.67%
- 1Y
- 4.07%
- 3Y*
- 3.62%
- 5Y*
- 1.01%
- 10Y*
- —
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NQP vs. FSMNX - Expense Ratio Comparison
NQP has a 1.27% expense ratio, which is higher than FSMNX's 0.36% expense ratio.
Return for Risk
NQP vs. FSMNX — Risk / Return Rank
NQP
FSMNX
NQP vs. FSMNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Pennsylvania Quality Municipal Income (NQP) and Fidelity SAI Municipal Income Fund (FSMNX). 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.
| NQP | FSMNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.67 | 1.05 | +0.62 |
Sortino ratioReturn per unit of downside risk | 2.52 | 1.43 | +1.09 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.30 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 3.53 | 1.05 | +2.49 |
Martin ratioReturn relative to average drawdown | 9.67 | 3.79 | +5.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NQP | FSMNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.67 | 1.05 | +0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.25 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.55 | -0.14 |
Correlation
The correlation between NQP and FSMNX is 0.47, 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.
Dividends
NQP vs. FSMNX - Dividend Comparison
NQP's dividend yield for the trailing twelve months is around 7.85%, more than FSMNX's 3.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NQP Nuveen Pennsylvania Quality Municipal Income | 7.85% | 7.87% | 6.69% | 3.07% | 4.89% | 4.51% | 4.38% | 4.23% | 5.34% | 5.34% | 5.67% | 6.10% |
FSMNX Fidelity SAI Municipal Income Fund | 3.37% | 4.38% | 3.52% | 2.98% | 1.74% | 1.55% | 1.96% | 3.57% | 0.65% | 0.00% | 0.00% | 0.00% |
Drawdowns
NQP vs. FSMNX - Drawdown Comparison
The maximum NQP drawdown since its inception was -41.87%, which is greater than FSMNX's maximum drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for NQP and FSMNX.
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Drawdown Indicators
| NQP | FSMNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -15.85% | -26.02% |
Max Drawdown (1Y)Largest decline over 1 year | -4.63% | -4.57% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -32.41% | -15.85% | -16.56% |
Max Drawdown (10Y)Largest decline over 10 years | -32.41% | — | — |
Current DrawdownCurrent decline from peak | -1.52% | -2.97% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -3.72% | -3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 1.26% | +0.43% |
Volatility
NQP vs. FSMNX - Volatility Comparison
Nuveen Pennsylvania Quality Municipal Income (NQP) has a higher volatility of 4.14% compared to Fidelity SAI Municipal Income Fund (FSMNX) at 1.11%. This indicates that NQP's price experiences larger fluctuations and is considered to be riskier than FSMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NQP | FSMNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 1.11% | +3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 5.42% | 1.78% | +3.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 4.71% | +4.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.80% | 4.09% | +5.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.85% | 4.64% | +6.21% |