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NYF vs. DGRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NYF vs. DGRO

Last updated Jun 5, 2026

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 S&P New York AMT-Free Municipal Bond 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 1.83%/yr vs 13.34%/yr for DGRO. At a correlation of -0.03, they often move in opposite directions. NYF charges 0.25%/yr vs 0.08%/yr for DGRO.

Performance

NYF vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares New York Muni Bond ETF (NYF) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, NYF achieves a 1.63% return, which is significantly lower than DGRO's 9.64% return. Over the past 10 years, NYF has underperformed DGRO with an annualized return of 1.83%, while DGRO has yielded a comparatively higher 13.34% annualized return.

NYF

1D
0.11%
1M
0.67%
YTD
1.63%
6M
1.96%
1Y
6.74%
3Y*
3.29%
5Y*
0.85%
10Y*
1.83%

DGRO

1D
0.81%
1M
3.27%
YTD
9.64%
6M
9.87%
1Y
23.89%
3Y*
17.46%
5Y*
10.72%
10Y*
13.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NYF vs. DGRO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NYF
iShares New York Muni Bond ETF		1.63%3.64%1.13%5.76%-7.75%1.34%4.18%6.49%0.66%5.02%
DGRO
iShares Core Dividend Growth ETF		9.64%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 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.15

Correlation (10Y)
Calculated over the trailing 10-year period

0.02

Correlation (All Time)
Calculated using the full available price history since Jun 13, 2014

-0.03

The correlation between NYF and DGRO shifts across timeframes, from -0.03 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares New York Muni Bond ETF

iShares Core Dividend Growth ETF

Often compared with NYF:
NYF vs. VNYUXNYF vs. MUBNYF vs. VNYTXNYF vs. PZTNYF vs. FTFMXNYF vs. FMNYNYF vs. AGZ
Often compared with DGRO:
DGRO vs. SCHDDGRO vs. VIGDGRO vs. VYMDGRO vs. VOODGRO vs. DGRWDGRO vs. DIVODGRO vs. HDV

Return for Risk

NYF vs. DGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NYF
NYF Risk / Return Rank: 6969
Overall Rank
NYF Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
NYF Sortino Ratio Rank: 7979
Sortino Ratio Rank
NYF Omega Ratio Rank: 8787
Omega Ratio Rank
NYF Calmar Ratio Rank: 5050
Calmar Ratio Rank
NYF Martin Ratio Rank: 5353
Martin Ratio Rank
DGRO
DGRO Risk / Return Rank: 7878
Overall Rank
DGRO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
DGRO Sortino Ratio Rank: 8383
Sortino Ratio Rank
DGRO Omega Ratio Rank: 7878
Omega Ratio Rank
DGRO Calmar Ratio Rank: 7575
Calmar Ratio Rank
DGRO Martin Ratio Rank: 7676
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

NYFDGRODifference
Sharpe ratioReturn per unit of total volatility
2.44
2.53

-0.09

Sortino ratioReturn per unit of downside risk
3.48
3.68

-0.19

Omega ratioGain probability vs. loss probability

1.53

1.46

+0.07

Calmar ratioReturn relative to maximum drawdown

2.45

3.71

-1.26

Martin ratioReturn relative to average drawdown

8.79

14.33

-5.54

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NYF vs. DGRO - Sharpe Ratio Comparison

The current NYF Sharpe Ratio is 2.44, which is comparable to the DGRO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of NYF and DGRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

NYFDGRODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.44

2.53

-0.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

0.78

-0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.41

0.81

-0.40

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.77

-0.30

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

NYFDGRODifference

Max Drawdown

Largest 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

-5.68%

-14.03%

+8.35%

Max Drawdown (5Y)

Largest decline over 5 years

-12.71%

-19.31%

+6.60%

Max Drawdown (10Y)

Largest decline over 10 years

-13.12%

-35.10%

+21.98%

Current Drawdown

Current decline from peak

-0.45%

0.00%

-0.45%

Average Drawdown

Average peak-to-trough decline

-2.31%

-3.44%

+1.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.77%

1.67%

-0.90%

Volatility

NYF vs. DGRO - Volatility Comparison

The current volatility for iShares New York Muni Bond ETF (NYF) is 0.96%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.24%. 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

NYFDGRODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.96%

2.24%

-1.28%

Volatility (6M)

Calculated over the trailing 6-month period

2.08%

6.94%

-4.86%

Volatility (1Y)

Calculated over the trailing 1-year period

2.78%

9.49%

-6.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.00%

13.82%

-9.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.48%

16.62%

-12.14%

NYF vs. DGRO - Expense Ratio Comparison

NYF has a 0.25% 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 3.09%, more than DGRO's 1.94% yield.

PositionTTM20252024202320222021202020192018201720162015
DGRO
iShares Core Dividend Growth ETF		1.94%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		3.09%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 DGRO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DGRO has higher volatility (2.24%) compared to NYF (0.96%). In terms of maximum drawdown, NYF dropped -13.12% vs DGRO's -35.10%.

On 10-year performance, DGRO leads with 13.34% vs 1.83% for NYF. On fees, DGRO is cheaper at 0.08% per year. On volatility, NYF has been the lower-risk option at 0.96%. 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 13.34% return vs 1.83%. 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 0.25% for NYF.

NYF has the higher dividend yield at 3.09%, compared with 1.94% for DGRO.

NYF is categorized as Municipal Bonds, while DGRO is Large Cap Growth Equities. NYF tracks S&P New York AMT-Free Municipal Bond Index, while DGRO tracks Morningstar US Dividend Growth Index. Their fees differ too: 0.25% for NYF and 0.08% for DGRO.

DGRO currently has the higher Sharpe Ratio (2.53 vs 2.44), 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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