AGZ vs. NYF
AGZ (iShares Agency Bond ETF) and NYF (iShares New York Muni Bond ETF) are both exchange-traded funds - AGZ is a Government Bonds fund tracking the Bloomberg U.S. Agency Bond Index (USD), while NYF is a Municipal Bonds fund tracking the ICE AMT-Free New York Plus Municipal Index. Both are passively managed. Over the past 10 years, AGZ returned 1.74%/yr vs 1.60%/yr for NYF. Their 0.36 correlation means their historical movements had little consistent relationship. AGZ charges 0.20%/yr vs 0.09%/yr for NYF.
Performance
AGZ vs. NYF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AGZ achieves a 0.14% return, which is significantly lower than NYF's 0.39% return. Over the past 10 years, AGZ has outperformed NYF with an annualized return of 1.74%, while NYF has yielded a comparatively lower 1.60% annualized return.
AGZ
- 1D
- -0.12%
- 1M
- -0.37%
- 6M
- 0.06%
- YTD
- 0.14%
- 1Y
- 2.32%
- 3Y*
- 4.20%
- 5Y*
- 0.97%
- 10Y*
- 1.74%
- ALL TIME*
- 2.35%
NYF
- 1D
- -0.04%
- 1M
- -1.80%
- 6M
- -0.30%
- YTD
- 0.39%
- 1Y
- 4.45%
- 3Y*
- 2.74%
- 5Y*
- 0.47%
- 10Y*
- 1.60%
- ALL TIME*
- 3.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.57M | $1.51M | $1.37M | |
| $8.19M | $7.30M | $7.67M |
AGZ vs. NYF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 0.14% | 6.05% | 3.08% | 5.18% | -7.77% | -1.05% | 5.77% | 5.51% | 1.32% | 2.01% |
NYF iShares New York Muni Bond ETF | 0.39% | 3.64% | 1.13% | 5.76% | -7.75% | 1.34% | 4.18% | 6.49% | 0.66% | 5.02% |
Correlation
The correlation between AGZ and NYF is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2008 | 0.36 |
The correlation between AGZ and NYF shifts across timeframes, from 0.36 (all time) to 0.62 (3 years), reflecting how their relationship changes across market environments.
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
AGZ vs. NYF — Risk / Return Rank
AGZ
NYF
AGZ vs. NYF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and iShares New York Muni Bond ETF (NYF). 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.
| AGZ | NYF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.38 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.82 | +0.39 |
| Martin ratioReturn relative to average drawdown | 6.46 | 6.02 | +0.44 |
Loading charts...
Drawdowns
AGZ vs. NYF - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, smaller than the maximum NYF drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for AGZ and NYF.
Loading charts...
Drawdown Indicators
| AGZ | NYF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -13.12% | +2.11% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -2.76% | +1.41% |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | -4.62% | +2.77% |
Max Drawdown (5Y)Largest decline over 5 years | -10.65% | -12.60% | +1.95% |
Max Drawdown (10Y)Largest decline over 10 years | -11.01% | -13.12% | +2.11% |
Current DrawdownCurrent decline from peak | -0.81% | -1.80% | +0.99% |
Average DrawdownAverage peak-to-trough decline | -1.60% | -2.29% | +0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.83% | -0.37% |
Volatility
AGZ vs. NYF - Volatility Comparison
The current volatility for iShares Agency Bond ETF (AGZ) is 0.66%, while iShares New York Muni Bond ETF (NYF) has a volatility of 0.83%. This indicates that AGZ experiences smaller price fluctuations and is considered to be less risky than NYF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AGZ | NYF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 0.83% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.01% | 2.23% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.54% | 2.79% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.55% | 4.01% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 4.48% | -1.45% |
AGZ vs. NYF - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is higher than NYF's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AGZ vs. NYF - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.72%, more than NYF's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 3.39% | 3.75% | 3.48% | 3.14% | 1.56% | 0.96% | 2.25% | 2.32% | 2.15% | 1.58% | 1.52% | 1.30% |
NYF iShares New York Muni Bond ETF | 2.90% | 2.99% | 2.77% | 2.36% | 2.04% | 1.85% | 1.98% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% |
Frequently Asked Questions
AGZ and NYF have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NYF has higher volatility (0.83%) compared to AGZ (0.66%). In terms of maximum drawdown, AGZ dropped -11.01% vs NYF's -13.12%.
On 10-year performance, AGZ leads with 1.74% vs 1.60% for NYF. On fees, NYF is cheaper at 0.09% per year. On volatility, AGZ has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AGZ has performed better with a 1.74% return vs 1.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NYF is cheaper with a 0.09% expense ratio, compared with 0.20% for AGZ.
AGZ has the higher dividend yield at 3.39%, compared with 2.90% for NYF.
AGZ is categorized as Government Bonds, while NYF is Municipal Bonds. AGZ tracks Bloomberg U.S. Agency Bond Index (USD), while NYF tracks ICE AMT-Free New York Plus Municipal Index. Their fees differ too: 0.20% for AGZ and 0.09% for NYF.
NYF currently has the higher Sharpe Ratio (1.80 vs 1.17), 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 AGZ and NYF
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