NQP vs. FZIIX
Compare and contrast key facts about Nuveen Pennsylvania Quality Municipal Income (NQP) and Fidelity Advisor Intermediate Municipal Income Fund Class I (FZIIX).
NQP is an actively managed fund by Nuveen. It was launched on Feb 21, 1991. FZIIX is managed by Fidelity. It was launched on Oct 31, 2005.
Performance
NQP vs. FZIIX - Performance Comparison
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NQP vs. FZIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NQP Nuveen Pennsylvania Quality Municipal Income | 2.31% | 15.46% | 2.70% | 7.44% | -21.95% | 7.75% | 7.08% | 21.21% | -2.28% | 5.96% |
FZIIX Fidelity Advisor Intermediate Municipal Income Fund Class I | -0.83% | 5.91% | 1.02% | 5.53% | -7.05% | 0.93% | 4.46% | 6.47% | 1.15% | 4.51% |
Returns By Period
In the year-to-date period, NQP achieves a 2.31% return, which is significantly higher than FZIIX's -0.83% return. Over the past 10 years, NQP has outperformed FZIIX with an annualized return of 3.35%, while FZIIX has yielded a comparatively lower 2.00% annualized 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%
FZIIX
- 1D
- 0.10%
- 1M
- -2.78%
- YTD
- -0.83%
- 6M
- 0.57%
- 1Y
- 4.17%
- 3Y*
- 3.03%
- 5Y*
- 1.07%
- 10Y*
- 2.00%
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NQP vs. FZIIX - Expense Ratio Comparison
NQP has a 1.27% expense ratio, which is higher than FZIIX's 0.39% expense ratio.
Return for Risk
NQP vs. FZIIX — Risk / Return Rank
NQP
FZIIX
NQP vs. FZIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Pennsylvania Quality Municipal Income (NQP) and Fidelity Advisor Intermediate Municipal Income Fund Class I (FZIIX). 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 | FZIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.67 | 1.37 | +0.30 |
Sortino ratioReturn per unit of downside risk | 2.52 | 1.85 | +0.67 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.39 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 3.53 | 1.46 | +2.08 |
Martin ratioReturn relative to average drawdown | 9.67 | 5.66 | +4.01 |
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 | FZIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.67 | 1.37 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.36 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.63 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.99 | -0.58 |
Correlation
The correlation between NQP and FZIIX is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
NQP vs. FZIIX - Dividend Comparison
NQP's dividend yield for the trailing twelve months is around 7.85%, more than FZIIX's 2.79% 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% |
FZIIX Fidelity Advisor Intermediate Municipal Income Fund Class I | 2.79% | 3.61% | 2.41% | 2.34% | 1.31% | 1.76% | 2.10% | 2.52% | 2.58% | 2.56% | 3.11% | 2.29% |
Drawdowns
NQP vs. FZIIX - Drawdown Comparison
The maximum NQP drawdown since its inception was -41.87%, which is greater than FZIIX's maximum drawdown of -10.95%. Use the drawdown chart below to compare losses from any high point for NQP and FZIIX.
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Drawdown Indicators
| NQP | FZIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -10.95% | -30.92% |
Max Drawdown (1Y)Largest decline over 1 year | -4.63% | -3.56% | -1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -32.41% | -10.95% | -21.46% |
Max Drawdown (10Y)Largest decline over 10 years | -32.41% | -10.95% | -21.46% |
Current DrawdownCurrent decline from peak | -1.52% | -2.78% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -1.51% | -5.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 0.92% | +0.77% |
Volatility
NQP vs. FZIIX - Volatility Comparison
Nuveen Pennsylvania Quality Municipal Income (NQP) has a higher volatility of 4.14% compared to Fidelity Advisor Intermediate Municipal Income Fund Class I (FZIIX) at 0.91%. This indicates that NQP's price experiences larger fluctuations and is considered to be riskier than FZIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NQP | FZIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 0.91% | +3.23% |
Volatility (6M)Calculated over the trailing 6-month period | 5.42% | 1.46% | +3.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 3.65% | +5.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.80% | 3.01% | +6.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.85% | 3.20% | +7.65% |