NYF vs. DGRO
NYF (iShares New York Muni Bond ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - NYF is a Municipal Bonds fund tracking the ICE AMT-Free New York Plus Municipal Index, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 10 years, NYF returned 1.64%/yr vs 13.50%/yr for DGRO. Their -0.02 correlation means they have often moved in opposite directions in the past. NYF charges 0.09%/yr vs 0.08%/yr for DGRO.
Performance
NYF vs. DGRO - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 0.64% return, which is significantly lower than DGRO's 15.02% return. Over the past 10 years, NYF has underperformed DGRO with an annualized return of 1.64%, while DGRO has yielded a comparatively higher 13.50% annualized return.
NYF
- 1D
- 0.25%
- 1M
- -1.56%
- 6M
- -0.13%
- YTD
- 0.64%
- 1Y
- 4.71%
- 3Y*
- 3.02%
- 5Y*
- 0.53%
- 10Y*
- 1.64%
- ALL TIME*
- 3.06%
DGRO
- 1D
- 1.09%
- 1M
- 2.42%
- 6M
- 10.12%
- YTD
- 15.02%
- 1Y
- 24.63%
- 3Y*
- 17.52%
- 5Y*
- 11.29%
- 10Y*
- 13.50%
- ALL TIME*
- 12.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $108.47M | $103.38M | $110.52M | |
| $9.91M | $8.04M | $7.81M |
NYF vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 0.64% | 3.64% | 1.13% | 5.76% | -7.75% | 1.34% | 4.18% | 6.49% | 0.66% | 5.02% |
DGRO iShares Core Dividend Growth ETF | 15.02% | 15.69% | 16.62% | 10.47% | -7.91% | 26.64% | 9.50% | 29.87% | -2.38% | 23.00% |
Correlation
The correlation between NYF and DGRO is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014 | -0.02 |
The correlation between NYF and DGRO shifts across timeframes, from -0.02 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NYF vs. DGRO — Risk / Return Rank
NYF
DGRO
NYF vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and iShares Core Dividend Growth ETF (DGRO). 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.
| NYF | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.48 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 3.83 | -2.11 |
| Martin ratioReturn relative to average drawdown | 5.58 | 14.91 | -9.32 |
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Drawdowns
NYF vs. DGRO - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for NYF and DGRO.
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Drawdown Indicators
| NYF | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -35.10% | +21.98% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -6.47% | +3.71% |
Max Drawdown (3Y)Largest decline over 3 years | -4.62% | -14.03% | +9.41% |
Max Drawdown (5Y)Largest decline over 5 years | -12.41% | -19.31% | +6.90% |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | -35.10% | +21.98% |
Current DrawdownCurrent decline from peak | -1.56% | 0.00% | -1.56% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -3.40% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 1.66% | -0.82% |
Volatility
NYF vs. DGRO - Volatility Comparison
The current volatility for iShares New York Muni Bond ETF (NYF) is 0.87%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 3.05%. This indicates that NYF experiences smaller price fluctuations and is considered to be less risky than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 3.05% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 7.16% | -4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.74% | 9.58% | -6.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.02% | 13.80% | -9.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 16.59% | -12.11% |
NYF vs. DGRO - Expense Ratio Comparison
NYF has a 0.09% expense ratio, which is higher than DGRO's 0.08% 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. DGRO - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.16%, more than DGRO's 1.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGRO iShares Core Dividend Growth ETF | 1.87% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
NYF iShares New York Muni Bond ETF | 3.16% | 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 DGRO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGRO has higher volatility (3.05%) compared to NYF (0.87%). In terms of maximum drawdown, NYF dropped -13.12% vs DGRO's -35.10%.
On 10-year performance, DGRO leads with 13.50% vs 1.64% for NYF. On fees, DGRO is cheaper at 0.08% per year. On volatility, NYF has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGRO has performed better with a 13.50% return vs 1.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGRO is cheaper with a 0.08% expense ratio, compared with 0.09% for NYF.
NYF has the higher dividend yield at 3.16%, compared with 1.87% for DGRO.
NYF is categorized as Municipal Bonds, while DGRO is Large Cap Growth Equities. NYF tracks ICE AMT-Free New York Plus Municipal Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.09% for NYF and 0.08% for DGRO.
DGRO currently has the higher Sharpe Ratio (2.60 vs 1.72), 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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