NYF vs. NXN
Compare and contrast key facts about iShares New York Muni Bond ETF (NYF) and Nuveen New York Select Tax-Free Income Portfolio (NXN).
NYF is a passively managed fund by iShares that tracks the performance of the S&P New York AMT-Free Municipal Bond Index. It was launched on Oct 4, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NYF or NXN.
Key characteristics
| NYF | NXN | |
|---|---|---|
| YTD Return | -0.16% | 1.93% |
| 1Y Return | 2.71% | 2.72% |
| 3Y Return (Ann) | -0.63% | -2.29% |
| 5Y Return (Ann) | 1.05% | 0.68% |
| 10Y Return (Ann) | 2.09% | 2.24% |
| Sharpe Ratio | 0.63 | 0.23 |
| Daily Std Dev | 4.15% | 11.76% |
| Max Drawdown | -13.12% | -21.98% |
| Current Drawdown | -3.08% | -9.63% |
Correlation
The correlation between NYF and NXN is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
NYF vs. NXN - Performance Comparison
In the year-to-date period, NYF achieves a -0.16% return, which is significantly lower than NXN's 1.93% return. Over the past 10 years, NYF has underperformed NXN with an annualized return of 2.09%, while NXN has yielded a comparatively higher 2.24% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
NYF vs. NXN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Nuveen New York Select Tax-Free Income Portfolio (NXN). 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.
Dividends
NYF vs. NXN - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 2.51%, less than NXN's 4.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 2.51% | 2.36% | 2.04% | 1.85% | 1.98% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% | 2.81% | 3.05% |
NXN Nuveen New York Select Tax-Free Income Portfolio | 4.17% | 4.12% | 3.55% | 3.10% | 3.34% | 3.38% | 3.92% | 4.03% | 4.17% | 4.03% | 4.32% | 4.78% |
Drawdowns
NYF vs. NXN - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, smaller than the maximum NXN drawdown of -21.98%. Use the drawdown chart below to compare losses from any high point for NYF and NXN. For additional features, visit the drawdowns tool.
Volatility
NYF vs. NXN - Volatility Comparison
The current volatility for iShares New York Muni Bond ETF (NYF) is 0.66%, while Nuveen New York Select Tax-Free Income Portfolio (NXN) has a volatility of 2.04%. This indicates that NYF experiences smaller price fluctuations and is considered to be less risky than NXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.