Correlation
The correlation between MNYIX and ZMMK.TO is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
MNYIX vs. ZMMK.TO
Compare and contrast key facts about BNY Mellon New York Intermediate Tax-Exempt Bond Fund (MNYIX) and BMO Money Market Fund ETF Series (ZMMK.TO).
MNYIX is managed by BNY Mellon. It was launched on Aug 9, 1992. ZMMK.TO is an actively managed fund by BMO. It was launched on Nov 28, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MNYIX or ZMMK.TO.
Performance
MNYIX vs. ZMMK.TO - Performance Comparison
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Key characteristics
MNYIX:
0.74
ZMMK.TO:
12.63
MNYIX:
0.90
ZMMK.TO:
39.12
MNYIX:
1.16
ZMMK.TO:
13.22
MNYIX:
0.49
ZMMK.TO:
66.62
MNYIX:
2.35
ZMMK.TO:
455.84
MNYIX:
1.25%
ZMMK.TO:
0.01%
MNYIX:
4.41%
ZMMK.TO:
0.31%
MNYIX:
-12.93%
ZMMK.TO:
-0.16%
MNYIX:
-2.98%
ZMMK.TO:
0.00%
Returns By Period
In the year-to-date period, MNYIX achieves a -0.22% return, which is significantly lower than ZMMK.TO's 1.21% return.
MNYIX
-0.22%
0.00%
-1.26%
2.93%
1.94%
0.69%
1.64%
ZMMK.TO
1.21%
0.22%
1.64%
3.94%
4.27%
N/A
N/A
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MNYIX vs. ZMMK.TO - Expense Ratio Comparison
MNYIX has a 0.84% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio.
Risk-Adjusted Performance
MNYIX vs. ZMMK.TO — Risk-Adjusted Performance Rank
MNYIX
ZMMK.TO
MNYIX vs. ZMMK.TO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon New York Intermediate Tax-Exempt Bond Fund (MNYIX) and BMO Money Market Fund ETF Series (ZMMK.TO). 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.
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Dividends
MNYIX vs. ZMMK.TO - Dividend Comparison
MNYIX's dividend yield for the trailing twelve months is around 2.03%, less than ZMMK.TO's 3.97% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNYIX BNY Mellon New York Intermediate Tax-Exempt Bond Fund | 2.03% | 2.18% | 2.08% | 1.80% | 2.56% | 2.49% | 2.62% | 2.26% | 2.29% | 3.91% | 2.85% | 2.46% |
ZMMK.TO BMO Money Market Fund ETF Series | 3.97% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MNYIX vs. ZMMK.TO - Drawdown Comparison
The maximum MNYIX drawdown since its inception was -12.93%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for MNYIX and ZMMK.TO.
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Volatility
MNYIX vs. ZMMK.TO - Volatility Comparison
BNY Mellon New York Intermediate Tax-Exempt Bond Fund (MNYIX) has a higher volatility of 0.57% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.07%. This indicates that MNYIX's price experiences larger fluctuations and is considered to be riskier than ZMMK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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