NRK vs. FOHFX
NRK (Nuveen New York AMT Free Quality Municipal Income) and FOHFX (Fidelity Ohio Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, NRK returned 2.33%/yr vs 1.84%/yr for FOHFX. At a 0.28 correlation, their price movements are largely independent. NRK charges 2.16%/yr vs 0.48%/yr for FOHFX.
Performance
NRK vs. FOHFX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NRK achieves a 9.28% return, which is significantly higher than FOHFX's 1.51% return. Over the past 10 years, NRK has outperformed FOHFX with an annualized return of 2.33%, while FOHFX has yielded a comparatively lower 1.84% annualized return.
NRK
- 1D
- -0.38%
- 1M
- 3.55%
- YTD
- 9.28%
- 6M
- 10.27%
- 1Y
- 17.91%
- 3Y*
- 7.88%
- 5Y*
- 0.27%
- 10Y*
- 2.33%
FOHFX
- 1D
- 0.00%
- 1M
- 1.56%
- YTD
- 1.51%
- 6M
- 1.93%
- 1Y
- 6.95%
- 3Y*
- 4.19%
- 5Y*
- 0.99%
- 10Y*
- 1.84%
NRK vs. FOHFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NRK Nuveen New York AMT Free Quality Municipal Income | 9.28% | 4.74% | 5.93% | 7.03% | -21.84% | 6.24% | 4.08% | 21.43% | -5.98% | 6.16% |
FOHFX Fidelity Ohio Municipal Income Fund | 1.51% | 5.55% | 2.00% | 5.43% | -9.28% | 1.18% | 4.10% | 7.08% | 0.40% | 6.03% |
Correlation
The correlation between NRK and FOHFX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2003 | 0.28 |
Over the past year, NRK and FOHFX have become more correlated (0.49) than their long-term average of 0.28, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NRK vs. FOHFX — Risk / Return Rank
NRK
FOHFX
NRK vs. FOHFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen New York AMT Free Quality Municipal Income (NRK) and Fidelity Ohio Municipal Income Fund (FOHFX). 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.
| NRK | FOHFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.67 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | 2.31 | +1.08 |
| Martin ratioReturn relative to average drawdown | 9.02 | 7.93 | +1.10 |
Loading charts...
Drawdowns
NRK vs. FOHFX - Drawdown Comparison
The maximum NRK drawdown since its inception was -40.18%, which is greater than FOHFX's maximum drawdown of -22.25%. Use the drawdown chart below to compare losses from any high point for NRK and FOHFX.
Loading charts...
Drawdown Indicators
| NRK | FOHFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.18% | -22.25% | -17.93% |
Max Drawdown (1Y)Largest decline over 1 year | -5.32% | -2.98% | -2.34% |
Max Drawdown (3Y)Largest decline over 3 years | -12.67% | -5.40% | -7.27% |
Max Drawdown (5Y)Largest decline over 5 years | -31.06% | -13.87% | -17.19% |
Max Drawdown (10Y)Largest decline over 10 years | -31.06% | -13.87% | -17.19% |
Current DrawdownCurrent decline from peak | -1.38% | -0.55% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -2.29% | -5.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 0.87% | +1.12% |
Volatility
NRK vs. FOHFX - Volatility Comparison
Nuveen New York AMT Free Quality Municipal Income (NRK) has a higher volatility of 3.36% compared to Fidelity Ohio Municipal Income Fund (FOHFX) at 0.80%. This indicates that NRK's price experiences larger fluctuations and is considered to be riskier than FOHFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NRK | FOHFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 0.80% | +2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 6.67% | 2.05% | +4.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 2.58% | +5.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.95% | 3.68% | +6.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 3.78% | +6.57% |
NRK vs. FOHFX - Expense Ratio Comparison
NRK has a 2.16% expense ratio, which is higher than FOHFX's 0.48% expense ratio.
Dividends
NRK vs. FOHFX - Dividend Comparison
NRK's dividend yield for the trailing twelve months is around 7.78%, more than FOHFX's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOHFX Fidelity Ohio Municipal Income Fund | 2.81% | 3.66% | 2.77% | 2.48% | 1.49% | 1.74% | 2.79% | 2.77% | 2.96% | 3.42% | 3.70% | 3.66% |
NRK Nuveen New York AMT Free Quality Municipal Income | 7.78% | 8.21% | 6.74% | 4.06% | 5.41% | 4.18% | 4.15% | 3.98% | 4.68% | 4.85% | 5.37% | 5.44% |
Frequently Asked Questions
NRK and FOHFX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRK has higher volatility (3.36%) compared to FOHFX (0.80%). In terms of maximum drawdown, NRK dropped -40.18% vs FOHFX's -22.25%.
FOHFX currently has the higher Sharpe Ratio (2.67 vs 2.11), 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.
Find the right allocation for NRK and FOHFX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer