MIY vs. USNYX
MIY (BlackRock MuniYield Michigan Quality Fund) and USNYX (USAA New York Bond Fund) are both Municipal Bonds funds. Over the past 10 years, MIY returned 2.49%/yr vs 2.00%/yr for USNYX. At a 0.26 correlation, their price movements are largely independent. MIY charges 2.25%/yr vs 0.67%/yr for USNYX.
Performance
MIY vs. USNYX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MIY achieves a 5.83% return, which is significantly higher than USNYX's 2.24% return. Over the past 10 years, MIY has outperformed USNYX with an annualized return of 2.49%, while USNYX has yielded a comparatively lower 2.00% annualized return.
MIY
- 1D
- 0.66%
- 1M
- 2.35%
- YTD
- 5.83%
- 6M
- 5.88%
- 1Y
- 13.22%
- 3Y*
- 9.17%
- 5Y*
- 0.01%
- 10Y*
- 2.49%
USNYX
- 1D
- -0.09%
- 1M
- 1.05%
- YTD
- 2.24%
- 6M
- 2.46%
- 1Y
- 7.90%
- 3Y*
- 4.06%
- 5Y*
- 0.76%
- 10Y*
- 2.00%
MIY vs. USNYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 5.83% | 11.24% | 3.48% | 6.60% | -24.10% | 10.04% | 7.27% | 19.51% | -6.71% | 8.86% |
USNYX USAA New York Bond Fund | 2.24% | 3.14% | 2.30% | 7.67% | -11.34% | 3.33% | 3.92% | 6.87% | 1.16% | 4.36% |
Correlation
The correlation between MIY and USNYX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 1994 | 0.26 |
The correlation between MIY and USNYX shifts across timeframes, from 0.26 (all time) to 0.42 (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
MIY vs. USNYX — Risk / Return Rank
MIY
USNYX
MIY vs. USNYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Michigan Quality Fund (MIY) and USAA New York Bond Fund (USNYX). 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.
| MIY | USNYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.49 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 2.24 | -0.92 |
| Martin ratioReturn relative to average drawdown | 4.18 | 7.27 | -3.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MIY | USNYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 2.10 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.13 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | 0.40 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 1.09 | -0.72 |
Drawdowns
MIY vs. USNYX - Drawdown Comparison
The maximum MIY drawdown since its inception was -42.19%, which is greater than USNYX's maximum drawdown of -18.05%. Use the drawdown chart below to compare losses from any high point for MIY and USNYX.
Loading charts...
Drawdown Indicators
| MIY | USNYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.19% | -18.05% | -24.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -3.59% | -6.49% |
Max Drawdown (3Y)Largest decline over 3 years | -14.72% | -8.86% | -5.86% |
Max Drawdown (5Y)Largest decline over 5 years | -34.59% | -18.05% | -16.54% |
Max Drawdown (10Y)Largest decline over 10 years | -34.59% | -18.05% | -16.54% |
Current DrawdownCurrent decline from peak | -3.71% | -0.21% | -3.50% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -2.17% | -6.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 1.10% | +2.07% |
Volatility
MIY vs. USNYX - Volatility Comparison
BlackRock MuniYield Michigan Quality Fund (MIY) has a higher volatility of 2.02% compared to USAA New York Bond Fund (USNYX) at 1.42%. This indicates that MIY's price experiences larger fluctuations and is considered to be riskier than USNYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MIY | USNYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 1.42% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 10.34% | 2.75% | +7.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.69% | 3.84% | +7.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.67% | 6.03% | +5.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.95% | 5.08% | +6.87% |
MIY vs. USNYX - Expense Ratio Comparison
MIY has a 2.25% expense ratio, which is higher than USNYX's 0.67% expense ratio.
Dividends
MIY vs. USNYX - Dividend Comparison
MIY's dividend yield for the trailing twelve months is around 5.38%, more than USNYX's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 5.38% | 5.57% | 5.21% | 3.86% | 5.70% | 4.38% | 4.23% | 4.27% | 5.27% | 5.46% | 5.85% | 5.66% |
USNYX USAA New York Bond Fund | 3.55% | 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
MIY and USNYX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIY has higher volatility (2.02%) compared to USNYX (1.42%). In terms of maximum drawdown, MIY dropped -42.19% vs USNYX's -18.05%.
USNYX currently has the higher Sharpe Ratio (2.10 vs 1.14), 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 MIY and USNYX
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