NYF vs. IBIT
NYF (iShares New York Muni Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - NYF is a Municipal Bonds fund tracking the ICE AMT-Free New York Plus Municipal Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, NYF returned 4.71% vs -44.19% for IBIT. Their 0.05 correlation means their historical movements had little consistent relationship. NYF charges 0.09%/yr vs 0.25%/yr for IBIT.
Performance
NYF vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 0.64% return, which is significantly higher than IBIT's -26.71% 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%
IBIT
- 1D
- 0.64%
- 1M
- 4.36%
- 6M
- -15.96%
- YTD
- -26.71%
- 1Y
- -44.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.29B | $1.33B | $1.64B | |
| $9.91M | $8.04M | $7.81M |
NYF vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NYF iShares New York Muni Bond ETF | 0.64% | 3.64% | 1.13% |
IBIT iShares Bitcoin Trust ETF | -26.71% | -6.41% | 89.87% |
Correlation
The correlation between NYF and IBIT is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.05 |
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Return for Risk
NYF vs. IBIT — Risk / Return Rank
NYF
IBIT
NYF vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.72 | ||
| Sortino ratioReturn per unit of downside risk | +3.85 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.84 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | -0.83 | +2.54 |
| Martin ratioReturn relative to average drawdown | 5.58 | -1.27 | +6.85 |
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Drawdowns
NYF vs. IBIT - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for NYF and IBIT.
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Drawdown Indicators
| NYF | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -53.30% | +40.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -53.30% | +50.54% |
Max Drawdown (3Y)Largest decline over 3 years | -4.62% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.41% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | — | — |
Current DrawdownCurrent decline from peak | -1.56% | -48.95% | +47.39% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -18.34% | +16.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 34.94% | -34.10% |
Volatility
NYF vs. IBIT - Volatility Comparison
The current volatility for iShares New York Muni Bond ETF (NYF) is 0.87%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.29%. This indicates that NYF experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 8.29% | -7.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 33.07% | -30.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.74% | 44.40% | -41.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.02% | 49.53% | -45.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 49.53% | -45.05% |
NYF vs. IBIT - Expense Ratio Comparison
NYF has a 0.09% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, 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. IBIT - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.16%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 IBIT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (8.29%) compared to NYF (0.87%). In terms of maximum drawdown, NYF dropped -13.12% vs IBIT's -53.30%.
On 1-year performance, NYF leads with 4.71% vs -44.19% for IBIT. On fees, NYF is cheaper at 0.09% 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 1-year period, NYF has performed better with a 4.71% return vs -44.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NYF is cheaper with a 0.09% expense ratio, compared with 0.25% for IBIT.
NYF has the higher dividend yield at 3.16%, compared with 0.00% for IBIT.
NYF is categorized as Municipal Bonds, while IBIT is Cryptocurrency. NYF tracks ICE AMT-Free New York Plus Municipal Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.09% for NYF and 0.25% for IBIT.
NYF currently has the higher Sharpe Ratio (1.72 vs -1.00), 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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