MYN vs. USMTX

Last updated Aug 5, 2026

MYN (BlackRock MuniYield New York Quality Fund) and USMTX (JPMorgan Ultra-Short Municipal Fund) are both Municipal Bonds funds. Over the past 5 years, MYN returned -2.59%/yr vs 1.91%/yr for USMTX. Their 0.18 correlation means their historical movements had little consistent relationship. MYN charges 2.24%/yr vs 0.24%/yr for USMTX.

Performance

MYN vs. USMTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock MuniYield New York Quality Fund (MYN) and JPMorgan Ultra-Short Municipal Fund (USMTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MYN achieves a 2.50% return, which is significantly higher than USMTX's 0.81% return.

MYN

• 1D: 0.82%
• 1M: -3.34%
• 6M: 0.26%
• YTD: 2.50%
• 1Y: 11.85%
• 3Y*: 5.60%
• 5Y*: -2.59%
• 10Y*: 0.90%
• ALL TIME*: 3.01%

USMTX

• 1D: 0.00%
• 1M: 0.01%
• 6M: 0.41%
• YTD: 0.81%
• 1Y: 1.79%
• 3Y*: 2.95%
• 5Y*: 1.91%
• 10Y*: —
• ALL TIME*: 1.56%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MYN BlackRock MuniYield New York Quality Fund	$2.10M	$1.60M	$1.36M
USMTX JPMorgan Ultra-Short Municipal Fund	$0.00	$0.00	$0.00

MYN vs. USMTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MYN BlackRock MuniYield New York Quality Fund	2.50%	4.67%	2.87%	9.80%	-27.05%	10.83%	6.00%	18.31%	-7.05%	6.96%
USMTX JPMorgan Ultra-Short Municipal Fund	0.81%	2.96%	3.30%	3.46%	-0.71%	-0.05%	1.07%	2.01%	1.32%	0.88%

Correlation

The correlation between MYN and USMTX is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (5Y) Shows whether the relationship held over a longer period.	0.25
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.18

Return for Risk

MYN vs. USMTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MYN

MYN Risk / Return Rank: 39
MYN Sharpe Ratio Rank: 36
MYN Sortino Ratio Rank: 40
MYN Omega Ratio Rank: 35
MYN Calmar Ratio Rank: 39
MYN Martin Ratio Rank: 42

USMTX

USMTX Risk / Return Rank: 98
USMTX Sharpe Ratio Rank: 97
USMTX Sortino Ratio Rank: 98
USMTX Omega Ratio Rank: 99
USMTX Calmar Ratio Rank: 98
USMTX Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MYN vs. USMTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield New York Quality Fund (MYN) and JPMorgan Ultra-Short Municipal Fund (USMTX). 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.

	MYN	USMTX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	2.97	-1.62
Sortino ratio: Return per unit of downside risk	2.06	5.06	-3.00
Omega ratio: Gain probability vs. loss probability	1.25	2.76	-1.51
Calmar ratio: Return relative to maximum drawdown	1.86	6.35	-4.49
Martin ratio: Return relative to average drawdown	6.90	24.10	-17.19

MYN vs. USMTX - Sharpe Ratio Comparison

The current MYN Sharpe Ratio is 1.35, which is lower than the USMTX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of MYN and USMTX, 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

MYN vs. USMTX - Drawdown Comparison

The maximum MYN drawdown since its inception was -42.89%, which is greater than USMTX's maximum drawdown of -1.98%. Use the drawdown chart below to compare losses from any high point for MYN and USMTX.

Drawdown Indicators

	MYN	USMTX	Difference
Max Drawdown Largest peak-to-trough decline	-42.89%	-1.98%	-40.91%
Max Drawdown (1Y) Largest decline over 1 year	-6.40%	-0.30%	-6.10%
Max Drawdown (3Y) Largest decline over 3 years	-13.12%	-0.50%	-12.62%
Max Drawdown (5Y) Largest decline over 5 years	-35.89%	-1.83%	-34.06%
Max Drawdown (10Y) Largest decline over 10 years	-35.99%	—	—
Current Drawdown Current decline from peak	-13.25%	-0.18%	-13.07%
Average Drawdown Average peak-to-trough decline	-10.50%	-0.18%	-10.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	0.08%	+1.64%

Volatility

MYN vs. USMTX - Volatility Comparison

BlackRock MuniYield New York Quality Fund (MYN) has a higher volatility of 2.30% compared to JPMorgan Ultra-Short Municipal Fund (USMTX) at 0.21%. This indicates that MYN's price experiences larger fluctuations and is considered to be riskier than USMTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MYN	USMTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.30%	0.21%	+2.09%
Volatility (6M) Calculated over the trailing 6-month period	6.78%	0.51%	+6.27%
Volatility (1Y) Calculated over the trailing 1-year period	8.81%	0.64%	+8.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.14%	0.73%	+10.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.41%	0.75%	+10.66%

MYN vs. USMTX - Expense Ratio Comparison

MYN has a 2.24% expense ratio, which is higher than USMTX's 0.24% expense ratio.

Dividends

MYN vs. USMTX - Dividend Comparison

MYN's dividend yield for the trailing twelve months is around 6.27%, more than USMTX's 2.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MYN BlackRock MuniYield New York Quality Fund	6.27%	6.20%	5.47%	3.88%	5.37%	4.39%	4.16%	3.90%	4.32%	4.98%	5.44%	5.62%
USMTX JPMorgan Ultra-Short Municipal Fund	2.28%	2.62%	3.05%	2.58%	0.89%	0.25%	0.76%	1.49%	1.31%	0.78%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MYN and USMTX in my portfolio?

MYN and USMTX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MYN or USMTX?

MYN has higher volatility (2.30%) compared to USMTX (0.21%). In terms of maximum drawdown, MYN dropped -42.89% vs USMTX's -1.98%.

Which has better risk-adjusted returns?

USMTX currently has the higher Sharpe Ratio (2.97 vs 1.35), 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.