PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
NYF vs. IEF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NYF vs. IEF

Last updated Jun 4, 2026

NYF (iShares New York Muni Bond ETF) and IEF (iShares 7-10 Year Treasury Bond ETF) are both exchange-traded funds - NYF is a Municipal Bonds fund tracking the S&P New York AMT-Free Municipal Bond Index, while IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, NYF returned 1.81%/yr vs 0.63%/yr for IEF. At a 0.39 correlation, their price movements are largely independent. NYF charges 0.25%/yr vs 0.15%/yr for IEF.

Performance

NYF vs. IEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares New York Muni Bond ETF (NYF) and iShares 7-10 Year Treasury Bond ETF (IEF). 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 1.51% return, which is significantly higher than IEF's -0.66% return. Over the past 10 years, NYF has outperformed IEF with an annualized return of 1.81%, while IEF has yielded a comparatively lower 0.63% annualized return.

NYF

1D
-0.04%
1M
0.58%
YTD
1.51%
6M
1.91%
1Y
6.81%
3Y*
3.36%
5Y*
0.83%
10Y*
1.81%

IEF

1D
-0.25%
1M
-0.08%
YTD
-0.66%
6M
-1.17%
1Y
4.06%
3Y*
2.47%
5Y*
-1.14%
10Y*
0.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NYF vs. IEF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NYF
iShares New York Muni Bond ETF		1.51%3.64%1.13%5.76%-7.75%1.34%4.18%6.49%0.66%5.02%
IEF
iShares 7-10 Year Treasury Bond ETF		-0.66%8.03%-0.63%3.64%-15.15%-3.33%10.01%8.03%0.99%2.55%

Correlation

The correlation between NYF and IEF is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.66

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

0.73

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

0.68

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

0.61

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2007

0.39

Over the past year, NYF and IEF have become more correlated (0.66) than their long-term average of 0.39, meaning their price movements have been converging.

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 7-10 Year Treasury Bond ETF

Often compared with NYF:
NYF vs. VNYUXNYF vs. MUBNYF vs. VNYTXNYF vs. PZTNYF vs. FTFMXNYF vs. FMNYNYF vs. AGZ
Often compared with IEF:
IEF vs. TLTIEF vs. VGITIEF vs. LQDIEF vs. BNDIEF vs. SHYIEF vs. IEIIEF vs. TIP

Return for Risk

NYF vs. IEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NYF
NYF Risk / Return Rank: 6868
Overall Rank
NYF Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
NYF Sortino Ratio Rank: 7777
Sortino Ratio Rank
NYF Omega Ratio Rank: 8686
Omega Ratio Rank
NYF Calmar Ratio Rank: 4949
Calmar Ratio Rank
NYF Martin Ratio Rank: 5252
Martin Ratio Rank
IEF
IEF Risk / Return Rank: 2323
Overall Rank
IEF Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
IEF Sortino Ratio Rank: 2323
Sortino Ratio Rank
IEF Omega Ratio Rank: 2121
Omega Ratio Rank
IEF Calmar Ratio Rank: 2222
Calmar Ratio Rank
IEF Martin Ratio Rank: 2323
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. IEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and iShares 7-10 Year Treasury Bond ETF (IEF). 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.

NYFIEFDifference
Sharpe ratioReturn per unit of total volatility
2.46
0.85

+1.61

Sortino ratioReturn per unit of downside risk
3.51
1.29

+2.23

Omega ratioGain probability vs. loss probability

1.53

1.15

+0.39

Calmar ratioReturn relative to maximum drawdown

2.48

1.00

+1.48

Martin ratioReturn relative to average drawdown

8.88

2.98

+5.91

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. IEF - Sharpe Ratio Comparison

The current NYF Sharpe Ratio is 2.46, which is higher than the IEF Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of NYF and IEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

NYFIEFDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.46

0.85

+1.61

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

-0.15

+0.36

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.40

0.10

+0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.50

-0.03

Drawdowns

NYF vs. IEF - Drawdown Comparison

The maximum NYF drawdown since its inception was -13.12%, smaller than the maximum IEF drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for NYF and IEF.

Loading charts...

Drawdown Indicators

NYFIEFDifference

Max Drawdown

Largest peak-to-trough decline

-13.12%

-23.93%

+10.81%

Max Drawdown (1Y)

Largest decline over 1 year

-2.76%

-4.07%

+1.31%

Max Drawdown (3Y)

Largest decline over 3 years

-5.68%

-7.74%

+2.06%

Max Drawdown (5Y)

Largest decline over 5 years

-12.71%

-21.40%

+8.69%

Max Drawdown (10Y)

Largest decline over 10 years

-13.12%

-23.93%

+10.81%

Current Drawdown

Current decline from peak

-0.56%

-11.35%

+10.79%

Average Drawdown

Average peak-to-trough decline

-2.31%

-5.34%

+3.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.77%

1.37%

-0.60%

Volatility

NYF vs. IEF - Volatility Comparison

The current volatility for iShares New York Muni Bond ETF (NYF) is 0.95%, while iShares 7-10 Year Treasury Bond ETF (IEF) has a volatility of 1.54%. This indicates that NYF experiences smaller price fluctuations and is considered to be less risky than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

NYFIEFDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.95%

1.54%

-0.59%

Volatility (6M)

Calculated over the trailing 6-month period

2.08%

3.34%

-1.26%

Volatility (1Y)

Calculated over the trailing 1-year period

2.78%

4.78%

-2.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.00%

7.71%

-3.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.48%

6.62%

-2.14%

NYF vs. IEF - Expense Ratio Comparison

NYF has a 0.25% expense ratio, which is higher than IEF's 0.15% 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. IEF - Dividend Comparison

NYF's dividend yield for the trailing twelve months is around 3.09%, less than IEF's 3.90% yield.

PositionTTM20252024202320222021202020192018201720162015
IEF
iShares 7-10 Year Treasury Bond ETF		3.90%3.77%3.62%2.91%1.96%0.83%1.08%2.08%2.24%1.82%1.81%1.90%
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 IEF have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEF has higher volatility (1.54%) compared to NYF (0.95%). In terms of maximum drawdown, NYF dropped -13.12% vs IEF's -23.93%.

On 10-year performance, NYF leads with 1.81% vs 0.63% for IEF. On fees, IEF is cheaper at 0.15% per year. On volatility, NYF has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, NYF has performed better with a 1.81% return vs 0.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEF is cheaper with a 0.15% expense ratio, compared with 0.25% for NYF.

IEF has the higher dividend yield at 3.90%, compared with 3.09% for NYF.

NYF is categorized as Municipal Bonds, while IEF is Government Bonds. NYF tracks S&P New York AMT-Free Municipal Bond Index, while IEF tracks ICE U.S. Treasury 7-10 Year Bond Index. Their fees differ too: 0.25% for NYF and 0.15% for IEF.

NYF currently has the higher Sharpe Ratio (2.46 vs 0.85), 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.

Portfolio Optimizer

Find the right allocation for NYF and IEF

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer