NYF vs. CA
Compare and contrast key facts about iShares New York Muni Bond ETF (NYF) and Xtrackers California Municipal Bond ETF (CA).
NYF and CA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NYF is a passively managed fund by iShares that tracks the performance of the S&P New York AMT-Free Municipal Bond Index. It was launched on Oct 4, 2007. CA is a passively managed fund by Xtrackers that tracks the performance of the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. It was launched on Dec 13, 2023. Both NYF and CA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
NYF vs. CA - Performance Comparison
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NYF vs. CA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 0.08% | 3.64% | 1.13% | 0.30% |
CA Xtrackers California Municipal Bond ETF | 0.04% | 3.05% | 1.51% | 0.79% |
Returns By Period
In the year-to-date period, NYF achieves a 0.08% return, which is significantly higher than CA's 0.04% return.
NYF
- 1D
- 0.30%
- 1M
- -1.77%
- YTD
- 0.08%
- 6M
- 1.30%
- 1Y
- 3.82%
- 3Y*
- 2.67%
- 5Y*
- 0.85%
- 10Y*
- 1.81%
CA
- 1D
- 0.11%
- 1M
- -1.69%
- YTD
- 0.04%
- 6M
- 1.33%
- 1Y
- 3.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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NYF vs. CA - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is higher than CA's 0.07% 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%.
Return for Risk
NYF vs. CA — Risk / Return Rank
NYF
CA
NYF vs. CA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Xtrackers California Municipal Bond ETF (CA). 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 | CA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 0.84 | +0.12 |
Sortino ratioReturn per unit of downside risk | 1.21 | 1.11 | +0.10 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.30 | 1.09 | +0.21 |
Martin ratioReturn relative to average drawdown | 3.65 | 3.10 | +0.55 |
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 | CA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 0.84 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.58 | -0.12 |
Correlation
The correlation between NYF and CA is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NYF vs. CA - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.08%, less than CA's 3.23% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 3.08% | 2.99% | 2.77% | 2.36% | 2.04% | 1.85% | 1.98% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% |
CA Xtrackers California Municipal Bond ETF | 3.23% | 3.14% | 3.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NYF vs. CA - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, which is greater than CA's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for NYF and CA.
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Drawdown Indicators
| NYF | CA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -5.24% | -7.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -3.67% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -12.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | — | — |
Current DrawdownCurrent decline from peak | -1.97% | -1.88% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -1.30% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.29% | -0.10% |
Volatility
NYF vs. CA - Volatility Comparison
iShares New York Muni Bond ETF (NYF) has a higher volatility of 1.41% compared to Xtrackers California Municipal Bond ETF (CA) at 1.27%. This indicates that NYF's price experiences larger fluctuations and is considered to be riskier than CA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | CA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.27% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.90% | 1.77% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 4.38% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.98% | 4.09% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 4.09% | +0.39% |