NYF vs. BSMR
NYF (iShares New York Muni Bond ETF) and BSMR (Invesco BulletShares 2027 Municipal Bond ETF) are both Municipal Bonds funds - NYF tracks the S&P New York AMT-Free Municipal Bond Index while BSMR tracks the Invesco BulletShares Municipal Bond 2027 Index. Both are passively managed. Over the past 5 years, NYF returned 0.83%/yr vs 0.48%/yr for BSMR. A 0.59 correlation means they provide meaningful diversification when combined. NYF charges 0.25%/yr vs 0.18%/yr for BSMR.
Performance
NYF vs. BSMR - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 1.51% return, which is significantly higher than BSMR's 1.04% return.
NYF
- 1D
- -0.04%
- 1M
- 0.58%
- YTD
- 1.51%
- 6M
- 1.91%
- 1Y
- 6.81%
- 3Y*
- 3.36%
- 5Y*
- 0.83%
- 10Y*
- 1.81%
BSMR
- 1D
- 0.05%
- 1M
- 0.41%
- YTD
- 1.04%
- 6M
- 1.31%
- 1Y
- 4.16%
- 3Y*
- 3.03%
- 5Y*
- 0.48%
- 10Y*
- —
NYF vs. BSMR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 1.51% | 3.64% | 1.13% | 5.76% | -7.75% | 1.34% | 4.18% | 0.42% |
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 1.04% | 3.10% | 1.51% | 4.47% | -7.60% | 1.09% | 4.97% | 0.16% |
Correlation
The correlation between NYF and BSMR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019 | 0.59 |
The correlation between NYF and BSMR shifts across timeframes, from 0.48 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
NYF vs. BSMR — Risk / Return Rank
NYF
BSMR
NYF vs. BSMR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR). 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.
| NYF | BSMR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.74 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 7.37 | -4.90 |
| Martin ratioReturn relative to average drawdown | 8.88 | 23.41 | -14.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NYF | BSMR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 3.33 | -0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.16 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.22 | +0.25 |
Drawdowns
NYF vs. BSMR - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, roughly equal to the maximum BSMR drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for NYF and BSMR.
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Drawdown Indicators
| NYF | BSMR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -13.49% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -0.57% | -2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -3.50% | -2.18% |
Max Drawdown (5Y)Largest decline over 5 years | -12.71% | -12.02% | -0.69% |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | — | — |
Current DrawdownCurrent decline from peak | -0.56% | 0.00% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -3.49% | +1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.18% | +0.59% |
Volatility
NYF vs. BSMR - Volatility Comparison
iShares New York Muni Bond ETF (NYF) has a higher volatility of 0.95% compared to Invesco BulletShares 2027 Municipal Bond ETF (BSMR) at 0.34%. This indicates that NYF's price experiences larger fluctuations and is considered to be riskier than BSMR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | BSMR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.34% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 0.92% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.78% | 1.25% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 3.03% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 5.72% | -1.24% |
NYF vs. BSMR - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is higher than BSMR's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NYF vs. BSMR - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.09%, more than BSMR's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 2.72% | 2.77% | 2.78% | 2.72% | 1.40% | 1.00% | 1.49% | 0.45% | 0.00% | 0.00% | 0.00% | 0.00% |
NYF iShares New York Muni Bond ETF | 3.09% | 2.99% | 2.77% | 2.36% | 2.04% | 1.85% | 1.98% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% |
Frequently Asked Questions
NYF and BSMR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NYF has higher volatility (0.95%) compared to BSMR (0.34%). In terms of maximum drawdown, NYF dropped -13.12% vs BSMR's -13.49%.
On 5-year performance, NYF leads with 0.83% vs 0.48% for BSMR. On fees, BSMR is cheaper at 0.18% per year. On volatility, BSMR has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NYF has performed better with a 0.83% return vs 0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMR is cheaper with a 0.18% expense ratio, compared with 0.25% for NYF.
NYF has the higher dividend yield at 3.09%, compared with 2.72% for BSMR.
NYF tracks S&P New York AMT-Free Municipal Bond Index, while BSMR tracks Invesco BulletShares Municipal Bond 2027 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for NYF and 0.18% for BSMR.
BSMR currently has the higher Sharpe Ratio (3.33 vs 2.46), 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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