MUNY vs. MYMG

Last updated Jun 23, 2026

MUNY (Vanguard New York Tax-Exempt Bond ETF) and MYMG (State Street My2027 Municipal Bond ETF) are both Municipal Bonds funds. MUNY is passively managed, while MYMG is actively managed. Over the past year, MUNY returned 6.68% vs 3.74% for MYMG. A 0.59 correlation means they provide meaningful diversification when combined. MUNY charges 0.09%/yr vs 0.20%/yr for MYMG.

Performance

MUNY vs. MYMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard New York Tax-Exempt Bond ETF (MUNY) and State Street My2027 Municipal Bond ETF (MYMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUNY achieves a 1.81% return, which is significantly higher than MYMG's 1.36% return.

MUNY

• 1D: 0.08%
• 1M: 1.52%
• YTD: 1.81%
• 6M: 2.07%
• 1Y: 6.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MYMG

• 1D: 0.00%
• 1M: 0.43%
• YTD: 1.36%
• 6M: 1.46%
• 1Y: 3.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MUNY vs. MYMG - Yearly Performance Comparison

	2026 (YTD)	2025
MUNY Vanguard New York Tax-Exempt Bond ETF	1.81%	5.60%
MYMG State Street My2027 Municipal Bond ETF	1.36%	2.99%

Correlation

The correlation between MUNY and MYMG is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 22, 2025	0.59

The correlation between MUNY and MYMG has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.

Return for Risk

MUNY vs. MYMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MUNY

MUNY Risk / Return Rank: 69
MUNY Sharpe Ratio Rank: 76
MUNY Sortino Ratio Rank: 79
MUNY Omega Ratio Rank: 88
MUNY Calmar Ratio Rank: 52
MUNY Martin Ratio Rank: 50

MYMG

MYMG Risk / Return Rank: 97
MYMG Sharpe Ratio Rank: 97
MYMG Sortino Ratio Rank: 98
MYMG Omega Ratio Rank: 98
MYMG Calmar Ratio Rank: 97
MYMG Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MUNY vs. MYMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard New York Tax-Exempt Bond ETF (MUNY) and State Street My2027 Municipal Bond ETF (MYMG). 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.

	MUNY	MYMG	Difference
Sharpe ratio: Return per unit of total volatility	2.32	4.67	-2.35
Sortino ratio: Return per unit of downside risk	3.34	7.80	-4.46
Omega ratio: Gain probability vs. loss probability	1.53	2.36	-0.83
Calmar ratio: Return relative to maximum drawdown	2.48	10.52	-8.03
Martin ratio: Return relative to average drawdown	8.34	34.69	-26.35

MUNY vs. MYMG - Sharpe Ratio Comparison

The current MUNY Sharpe Ratio is 2.32, which is lower than the MYMG Sharpe Ratio of 4.67. The chart below compares the historical Sharpe Ratios of MUNY and MYMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MUNY vs. MYMG - Drawdown Comparison

The maximum MUNY drawdown since its inception was -2.70%, which is greater than MYMG's maximum drawdown of -2.31%. Use the drawdown chart below to compare losses from any high point for MUNY and MYMG.

Drawdown Indicators

	MUNY	MYMG	Difference
Max Drawdown Largest peak-to-trough decline	-2.70%	-2.31%	-0.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-0.36%	-2.34%
Current Drawdown Current decline from peak	-0.19%	0.00%	-0.19%
Average Drawdown Average peak-to-trough decline	-0.65%	-0.32%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	0.11%	+0.69%

Volatility

MUNY vs. MYMG - Volatility Comparison

Vanguard New York Tax-Exempt Bond ETF (MUNY) has a higher volatility of 0.73% compared to State Street My2027 Municipal Bond ETF (MYMG) at 0.20%. This indicates that MUNY's price experiences larger fluctuations and is considered to be riskier than MYMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUNY	MYMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	0.20%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	2.35%	0.59%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	2.90%	0.81%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.87%	2.01%	+1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.87%	2.01%	+1.86%

MUNY vs. MYMG - Expense Ratio Comparison

MUNY has a 0.09% expense ratio, which is lower than MYMG's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MUNY vs. MYMG - Dividend Comparison

MUNY's dividend yield for the trailing twelve months is around 3.10%, more than MYMG's 2.88% yield.

Position	TTM	2025	2024
MUNY Vanguard New York Tax-Exempt Bond ETF	3.10%	1.80%	0.00%
MYMG State Street My2027 Municipal Bond ETF	2.88%	3.03%	0.89%

Frequently Asked Questions

Can I hold both MUNY and MYMG in my portfolio?

MUNY and MYMG have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUNY or MYMG?

MUNY has higher volatility (0.73%) compared to MYMG (0.20%). In terms of maximum drawdown, MUNY dropped -2.70% vs MYMG's -2.31%.

Which ETF is better, MUNY or MYMG?

On 1-year performance, MUNY leads with 6.68% vs 3.74% for MYMG. On fees, MUNY is cheaper at 0.09% per year. On volatility, MYMG has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUNY or MYMG?

Over the 1-year period, MUNY has performed better with a 6.68% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUNY or MYMG?

MUNY is cheaper with a 0.09% expense ratio, compared with 0.20% for MYMG.

Which ETF pays a higher dividend yield, MUNY or MYMG?

MUNY has the higher dividend yield at 3.10%, compared with 2.88% for MYMG.

What is the main difference between MUNY and MYMG?

They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.09% for MUNY and 0.20% for MYMG.

Which has better risk-adjusted returns?

MYMG currently has the higher Sharpe Ratio (4.67 vs 2.32), 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.