USNYX vs. FTFMX
USNYX (USAA New York Bond Fund) and FTFMX (Fidelity New York Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, USNYX returned 1.92%/yr vs 1.92%/yr for FTFMX. Their correlation of 0.84 suggests significant overlap in exposure. USNYX charges 0.67%/yr vs 0.46%/yr for FTFMX.
Performance
USNYX vs. FTFMX - Performance Comparison
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Returns By Period
In the year-to-date period, USNYX achieves a 2.43% return, which is significantly higher than FTFMX's 1.97% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: USNYX at 1.92% and FTFMX at 1.92%.
USNYX
- 1D
- 0.19%
- 1M
- 1.62%
- YTD
- 2.43%
- 6M
- 2.85%
- 1Y
- 7.99%
- 3Y*
- 3.90%
- 5Y*
- 0.80%
- 10Y*
- 1.92%
FTFMX
- 1D
- 0.16%
- 1M
- 1.39%
- YTD
- 1.97%
- 6M
- 2.40%
- 1Y
- 7.74%
- 3Y*
- 4.21%
- 5Y*
- 0.91%
- 10Y*
- 1.92%
USNYX vs. FTFMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USNYX USAA New York Bond Fund | 2.43% | 3.14% | 2.30% | 7.67% | -11.34% | 3.33% | 3.92% | 6.87% | 1.16% | 4.36% |
FTFMX Fidelity New York Municipal Income Fund | 1.97% | 5.12% | 1.52% | 7.51% | -11.16% | 2.39% | 4.15% | 7.73% | 0.35% | 5.31% |
Correlation
The correlation between USNYX and FTFMX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 1990 | 0.84 |
The correlation between USNYX and FTFMX has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.
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Return for Risk
USNYX vs. FTFMX — Risk / Return Rank
USNYX
FTFMX
USNYX vs. FTFMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA New York Bond Fund (USNYX) and Fidelity New York Municipal Income Fund (FTFMX). 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.
| USNYX | FTFMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.61 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.35 | -0.17 |
| Martin ratioReturn relative to average drawdown | 7.06 | 8.05 | -0.99 |
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Drawdowns
USNYX vs. FTFMX - Drawdown Comparison
The maximum USNYX drawdown since its inception was -18.05%, smaller than the maximum FTFMX drawdown of -22.72%. Use the drawdown chart below to compare losses from any high point for USNYX and FTFMX.
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Drawdown Indicators
| USNYX | FTFMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.05% | -22.72% | +4.67% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -3.31% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -8.86% | -6.46% | -2.40% |
Max Drawdown (5Y)Largest decline over 5 years | -18.05% | -16.10% | -1.95% |
Max Drawdown (10Y)Largest decline over 10 years | -18.05% | -16.10% | -1.95% |
Current DrawdownCurrent decline from peak | -0.02% | -0.35% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -2.16% | -2.49% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.96% | +0.15% |
Volatility
USNYX vs. FTFMX - Volatility Comparison
USAA New York Bond Fund (USNYX) has a higher volatility of 1.14% compared to Fidelity New York Municipal Income Fund (FTFMX) at 0.83%. This indicates that USNYX's price experiences larger fluctuations and is considered to be riskier than FTFMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USNYX | FTFMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.83% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 2.39% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 3.08% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 4.37% | +1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.07% | 4.28% | +0.79% |
USNYX vs. FTFMX - Expense Ratio Comparison
USNYX has a 0.67% expense ratio, which is higher than FTFMX's 0.46% expense ratio.
Dividends
USNYX vs. FTFMX - Dividend Comparison
USNYX's dividend yield for the trailing twelve months is around 3.54%, more than FTFMX's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTFMX Fidelity New York Municipal Income Fund | 2.92% | 3.78% | 2.81% | 2.63% | 1.79% | 2.52% | 2.78% | 2.87% | 2.87% | 3.64% | 4.25% | 3.79% |
USNYX USAA New York Bond Fund | 3.54% | 4.16% | 4.04% | 3.10% | 3.18% | 2.61% | 3.14% | 3.16% | 3.45% | 3.42% | 3.53% | 3.54% |
Frequently Asked Questions
USNYX and FTFMX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USNYX has higher volatility (1.14%) compared to FTFMX (0.83%). In terms of maximum drawdown, USNYX dropped -18.05% vs FTFMX's -22.72%.
FTFMX currently has the higher Sharpe Ratio (2.53 vs 2.04), 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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