NYF vs. RMUNX
NYF (iShares New York Muni Bond ETF) and RMUNX (Invesco Rochester New York Municipals Fund) are both Municipal Bonds funds. Over the past 10 years, NYF returned 1.81%/yr vs 3.76%/yr for RMUNX. At a 0.42 correlation, their price movements are largely independent. NYF charges 0.25%/yr vs 0.78%/yr for RMUNX.
Performance
NYF vs. RMUNX - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 1.51% return, which is significantly lower than RMUNX's 1.78% return. Over the past 10 years, NYF has underperformed RMUNX with an annualized return of 1.81%, while RMUNX has yielded a comparatively higher 3.76% 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%
RMUNX
- 1D
- 0.28%
- 1M
- 1.17%
- YTD
- 1.78%
- 6M
- 1.97%
- 1Y
- 6.41%
- 3Y*
- 3.40%
- 5Y*
- 0.06%
- 10Y*
- 3.76%
NYF vs. RMUNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
RMUNX Invesco Rochester New York Municipals Fund | 1.78% | 0.82% | 2.37% | 9.85% | -15.09% | 6.83% | 5.84% | 13.22% | 8.89% | 3.69% |
Correlation
The correlation between NYF and RMUNX is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
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 | 0.42 |
Over the past year, NYF and RMUNX have become more correlated (0.68) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
NYF vs. RMUNX — Risk / Return Rank
NYF
RMUNX
NYF vs. RMUNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Invesco Rochester New York Municipals Fund (RMUNX). 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.
| NYF | RMUNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.33 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.14 | +0.34 |
| Martin ratioReturn relative to average drawdown | 8.88 | 5.92 | +2.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NYF | RMUNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 1.57 | +0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.01 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.63 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 1.04 | -0.57 |
Drawdowns
NYF vs. RMUNX - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, smaller than the maximum RMUNX drawdown of -36.55%. Use the drawdown chart below to compare losses from any high point for NYF and RMUNX.
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Drawdown Indicators
| NYF | RMUNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -36.55% | +23.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -3.29% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -10.10% | +4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -12.71% | -21.81% | +9.10% |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | -21.81% | +8.69% |
Current DrawdownCurrent decline from peak | -0.56% | -2.08% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -3.25% | +0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.69% | -0.92% |
Volatility
NYF vs. RMUNX - Volatility Comparison
The current volatility for iShares New York Muni Bond ETF (NYF) is 0.95%, while Invesco Rochester New York Municipals Fund (RMUNX) has a volatility of 1.69%. This indicates that NYF experiences smaller price fluctuations and is considered to be less risky than RMUNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | RMUNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.69% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 3.12% | -1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.78% | 4.51% | -1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 6.64% | -2.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 6.00% | -1.52% |
NYF vs. RMUNX - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is lower than RMUNX's 0.78% expense ratio.
Dividends
NYF vs. RMUNX - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.09%, less than RMUNX's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RMUNX Invesco Rochester New York Municipals Fund | 3.13% | 5.30% | 4.81% | 3.77% | 3.03% | 3.24% | 3.32% | 3.43% | 3.40% | 4.34% | 6.01% | 6.55% |
Frequently Asked Questions
NYF and RMUNX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RMUNX has higher volatility (1.69%) compared to NYF (0.95%). In terms of maximum drawdown, NYF dropped -13.12% vs RMUNX's -36.55%.
NYF currently has the higher Sharpe Ratio (2.46 vs 1.57), 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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