First Trust New York Municipal High Income ETF (FMNY) Performance
FMNY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.7% since Dec 31, 2025
- 1 year
- −1.1% total return
- 5 years
- +0.1% a year
- Since first price
- +0.1% a year since 2021
FMNY trailing returns vs SPY, QQQ, AGG
| Period | FMNY total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.3% | +0.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.3% | −3.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −3.1% | −5.0% | +7.8% | +8.4% | −1.5% |
| YTD | −1.7% | −4.8% | +12.3% | +15.1% | −1.0% |
| 1 year | −1.1% | −5.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +13.6%+4.3%/yr | +1.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +0.7%+0.1%/yr | −14.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMay 13, 2021 | +0.5%+0.1%/yr | −15.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FMNY vs SPY
From May 13, 2021: FMNY grew to $10,046, SPY to $19,933.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FMNY returns by calendar year
3 of 4 full years positive. Best 2023 (+6.1%), worst 2022 (−10.6%). 2026 is year to date.
FMNY annual returns table
| Year | FMNY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −1.7% | −7.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +4.3% | −5.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +1.7% | −2.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +6.1% | −6.1% | +26.2% | +54.9% | +5.7% |
| 2022 | −10.6% | −15.5% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FMNY largest drawdowns
Now 4.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 19, 2021 | −15.9% | Oct 26, 2022 | Nov 4, 2025 | 1.3 years | 4.3 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FMNY risk statistics
| Statistic | 3 years | 5 years | Since 2021 |
|---|---|---|---|
| Annualized return | +3.1% | −0.4% | −0.5% |
| Volatility (annualized) | 6.1% | 6.9% | 6.7% |
| Sharpe ratio | -0.19 | -0.56 | -0.55 |
| Sortino ratio | -0.27 | -0.72 | -0.70 |
| Best month | +6.2% | +6.2% | +6.2% |
| Worst month | −3.8% | −3.8% | −3.8% |
| Best 12 months | +11.2% | +11.2% | +11.2% |
| Worst 12 months | −2.1% | −14.1% | −14.1% |
| Positive months | 58% | 53% | 53% |
| Beta vs S&P 500 | 0.30 | 0.28 | — |
| Correlation with S&P 500 | 0.60 | 0.63 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FMNY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 54 | −14.1% | +2.8% | +11.2% | 72% |
| 3-year (a year) | 30 | −1.8% | +2.8% | +5.8% | 73% |
| 5-year (a year) | 6 | −0.4% | +0.2% | +0.8% | 83% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
FMNY performance overview
First Trust New York Municipal High Income ETF (FMNY) returned −1.1% over the past year and +0.1% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +0.1% a year, turning $10,000 into about $10,046. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −15.9%, from Jul 19, 2021 to Oct 26, 2022, and it took 3.0 years to get back to the old high. FMNY finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+6.1%) and the worst 2022 (−10.6%). Volatility has been 6.7% a year.
Related: FMNY chart, FMNY dividends. See the FMNY overview for the latest quote and fund facts.
FMNY performance FAQ
What is the FMNY return over the past year?
FMNY returned −1.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.1%.
What is the average annual return of FMNY?
FMNY has returned +0.1% a year over 5 years, +0.1% a year since May 13, 2021 (total return, distributions reinvested).
How much would $10,000 invested in FMNY be worth?
$10,000 invested in FMNY at its first recorded close on May 13, 2021 would be worth about $10,046 on October 23, 2026 with distributions reinvested.
What was the worst year for FMNY?
The worst calendar year was 2022, with a total return of −10.6%. The best was 2023 at +6.1%.
What is the biggest drawdown of FMNY?
The largest peak-to-trough decline was −15.9% between July 19, 2021 and October 26, 2022. It recovered to the old high on November 4, 2025, 3.0 years after the bottom.
How volatile is FMNY?
Over the past 3 years FMNY had an annualized volatility of 6.1% and a Sharpe ratio of -0.19 (excess return over 1–3 month T-bills per unit of risk).