MYI vs. NRK
MYI (BlackRock MuniYield Quality Fund III) and NRK (Nuveen New York AMT Free Quality Municipal Income) are both Municipal Bonds funds. Both are actively managed. Over the past 10 years, MYI returned 1.62%/yr vs 2.37%/yr for NRK. At a 0.37 correlation, their price movements are largely independent. Both charge a 2.16% expense ratio.
Performance
MYI vs. NRK - Performance Comparison
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Returns By Period
In the year-to-date period, MYI achieves a 4.59% return, which is significantly lower than NRK's 9.70% return. Over the past 10 years, MYI has underperformed NRK with an annualized return of 1.62%, while NRK has yielded a comparatively higher 2.37% annualized return.
MYI
- 1D
- 0.91%
- 1M
- 3.80%
- YTD
- 4.59%
- 6M
- 6.25%
- 1Y
- 12.51%
- 3Y*
- 6.79%
- 5Y*
- -0.55%
- 10Y*
- 1.62%
NRK
- 1D
- 0.38%
- 1M
- 3.94%
- YTD
- 9.70%
- 6M
- 10.68%
- 1Y
- 18.60%
- 3Y*
- 8.01%
- 5Y*
- 0.31%
- 10Y*
- 2.37%
MYI vs. NRK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | 4.59% | 4.74% | 0.55% | 8.79% | -20.52% | 6.99% | 11.60% | 16.64% | -8.42% | 7.13% |
NRK Nuveen New York AMT Free Quality Municipal Income | 9.70% | 4.74% | 5.93% | 7.03% | -21.84% | 6.24% | 4.08% | 21.43% | -5.98% | 6.16% |
Correlation
The correlation between MYI and NRK is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2003 | 0.37 |
The correlation between MYI and NRK shifts across timeframes, from 0.37 (all time) to 0.61 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MYI vs. NRK — Risk / Return Rank
MYI
NRK
MYI vs. NRK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Quality Fund III (MYI) and Nuveen New York AMT Free Quality Municipal Income (NRK). 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.
| MYI | NRK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.43 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 3.51 | -1.86 |
| Martin ratioReturn relative to average drawdown | 6.05 | 9.37 | -3.32 |
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Drawdowns
MYI vs. NRK - Drawdown Comparison
The maximum MYI drawdown since its inception was -43.90%, which is greater than NRK's maximum drawdown of -40.18%. Use the drawdown chart below to compare losses from any high point for MYI and NRK.
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Drawdown Indicators
| MYI | NRK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.90% | -40.18% | -3.72% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -5.32% | -2.26% |
Max Drawdown (3Y)Largest decline over 3 years | -15.07% | -12.67% | -2.40% |
Max Drawdown (5Y)Largest decline over 5 years | -31.84% | -31.06% | -0.78% |
Max Drawdown (10Y)Largest decline over 10 years | -31.84% | -31.06% | -0.78% |
Current DrawdownCurrent decline from peak | -5.60% | -1.01% | -4.59% |
Average DrawdownAverage peak-to-trough decline | -9.38% | -8.17% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 1.99% | +0.08% |
Volatility
MYI vs. NRK - Volatility Comparison
The current volatility for BlackRock MuniYield Quality Fund III (MYI) is 2.96%, while Nuveen New York AMT Free Quality Municipal Income (NRK) has a volatility of 3.31%. This indicates that MYI experiences smaller price fluctuations and is considered to be less risky than NRK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYI | NRK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 3.31% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 6.99% | 6.66% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.84% | 8.51% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.00% | 9.95% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.39% | 10.35% | +1.04% |
MYI vs. NRK - Expense Ratio Comparison
Both MYI and NRK have an expense ratio of 2.16%.
Dividends
MYI vs. NRK - Dividend Comparison
MYI's dividend yield for the trailing twelve months is around 6.04%, less than NRK's 7.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | 6.04% | 6.13% | 6.03% | 4.30% | 5.22% | 4.17% | 3.84% | 3.89% | 5.01% | 5.88% | 6.20% | 6.03% |
NRK Nuveen New York AMT Free Quality Municipal Income | 7.75% | 8.21% | 6.74% | 4.06% | 5.41% | 4.18% | 4.15% | 3.98% | 4.68% | 4.85% | 5.37% | 5.44% |
Frequently Asked Questions
MYI and NRK have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRK has higher volatility (3.31%) compared to MYI (2.96%). In terms of maximum drawdown, MYI dropped -43.90% vs NRK's -40.18%.
NRK currently has the higher Sharpe Ratio (2.20 vs 1.42), 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.
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