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Fidelity Advisor New York Municipal Income Fund - Class A FNMAX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | FNMAX | Replication |
|---|---|---|
| Annualized growth | -0.6% | -0.3% |
| Annualized volatility | 5.8% | 5.0% |
| Sharpe ratio | -0.08 | -0.04 |
| Maximum drawdown | 15.2% | 12.4% |
| Replication fit (R²) | 0.97 · Tracking error 1.0% | |
Replication portfolio
The published portfolio below is the investable basket used to model FNMAX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| MUB | FI · Municipal | 95.6% |
| SPTL | FI · Long Gov | 4.4% |