NYF vs. FNDX
NYF (iShares New York Muni Bond ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - NYF is a Municipal Bonds fund tracking the S&P New York AMT-Free Municipal Bond Index, while FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. Both are passively managed. Over the past 10 years, NYF returned 1.76%/yr vs 14.32%/yr for FNDX. At a correlation of -0.04, they often move in opposite directions. Both charge a 0.25% expense ratio.
Performance
NYF vs. FNDX - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 1.58% return, which is significantly lower than FNDX's 14.46% return. Over the past 10 years, NYF has underperformed FNDX with an annualized return of 1.76%, while FNDX has yielded a comparatively higher 14.32% annualized return.
NYF
- 1D
- 0.17%
- 1M
- 0.63%
- YTD
- 1.58%
- 6M
- 1.84%
- 1Y
- 6.63%
- 3Y*
- 3.28%
- 5Y*
- 0.76%
- 10Y*
- 1.76%
FNDX
- 1D
- 1.47%
- 1M
- 1.97%
- YTD
- 14.46%
- 6M
- 13.13%
- 1Y
- 30.72%
- 3Y*
- 20.21%
- 5Y*
- 12.91%
- 10Y*
- 14.32%
NYF vs. FNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 1.58% | 3.64% | 1.13% | 5.76% | -7.75% | 1.34% | 4.18% | 6.49% | 0.66% | 5.02% |
FNDX Schwab Fundamental U.S. Large Company Index ETF | 14.46% | 16.94% | 16.77% | 18.23% | -6.92% | 31.73% | 9.12% | 28.65% | -7.30% | 17.12% |
Correlation
The correlation between NYF and FNDX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | -0.04 |
The correlation between NYF and FNDX shifts across timeframes, from -0.04 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NYF vs. FNDX — Risk / Return Rank
NYF
FNDX
NYF vs. FNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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 | FNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.54 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 5.09 | -2.67 |
| Martin ratioReturn relative to average drawdown | 8.60 | 19.73 | -11.13 |
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Drawdowns
NYF vs. FNDX - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for NYF and FNDX.
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Drawdown Indicators
| NYF | FNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -37.72% | +24.60% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -6.06% | +3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -16.30% | +10.62% |
Max Drawdown (5Y)Largest decline over 5 years | -12.71% | -19.06% | +6.35% |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | -37.72% | +24.60% |
Current DrawdownCurrent decline from peak | -0.50% | -0.77% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -3.55% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.56% | -0.79% |
Volatility
NYF vs. FNDX - Volatility Comparison
The current volatility for iShares New York Muni Bond ETF (NYF) is 0.97%, while Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a volatility of 3.07%. This indicates that NYF experiences smaller price fluctuations and is considered to be less risky than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | FNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 3.07% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.10% | 7.63% | -5.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 10.42% | -7.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 15.22% | -11.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 17.51% | -13.03% |
NYF vs. FNDX - Expense Ratio Comparison
Both NYF and FNDX have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
NYF vs. FNDX - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.09%, more than FNDX's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDX Schwab Fundamental U.S. Large Company Index ETF | 1.45% | 1.63% | 1.76% | 1.82% | 2.07% | 1.64% | 2.29% | 2.23% | 2.40% | 1.86% | 2.01% | 2.01% |
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 FNDX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNDX has higher volatility (3.07%) compared to NYF (0.97%). In terms of maximum drawdown, NYF dropped -13.12% vs FNDX's -37.72%.
On 10-year performance, FNDX leads with 14.32% vs 1.76% for NYF. Both ETFs have the same 0.25% expense ratio. On volatility, NYF has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNDX has performed better with a 14.32% return vs 1.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NYF and FNDX have the same expense ratio: 0.25% per year.
NYF has the higher dividend yield at 3.09%, compared with 1.45% for FNDX.
NYF is categorized as Municipal Bonds, while FNDX is Large Cap Value Equities. NYF tracks S&P New York AMT-Free Municipal Bond Index, while FNDX tracks RAFI Fundamental High Liquidity US Large Index. They also come from different issuers: iShares and Charles Schwab.
FNDX currently has the higher Sharpe Ratio (2.96 vs 2.41), 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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