NYF vs. SCMB
NYF (iShares New York Muni Bond ETF) and SCMB (Schwab Municipal Bond ETF) are both Municipal Bonds funds - NYF tracks the S&P New York AMT-Free Municipal Bond Index while SCMB tracks the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, NYF returned 3.36%/yr vs 3.37%/yr for SCMB. Their correlation of 0.83 suggests significant overlap in exposure. NYF charges 0.25%/yr vs 0.03%/yr for SCMB.
Performance
NYF vs. SCMB - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 1.51% return, which is significantly higher than SCMB's 1.07% 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%
SCMB
- 1D
- -0.12%
- 1M
- 0.60%
- YTD
- 1.07%
- 6M
- 1.55%
- 1Y
- 6.86%
- 3Y*
- 3.37%
- 5Y*
- —
- 10Y*
- —
NYF vs. SCMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 1.51% | 3.64% | 1.13% | 5.76% | 3.36% |
SCMB Schwab Municipal Bond ETF | 1.07% | 3.78% | 0.91% | 5.86% | 3.05% |
Correlation
The correlation between NYF and SCMB is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2022 | 0.83 |
The correlation between NYF and SCMB has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
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Return for Risk
NYF vs. SCMB — Risk / Return Rank
NYF
SCMB
NYF vs. SCMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Schwab Municipal Bond ETF (SCMB). 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 | SCMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.50 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.36 | +0.12 |
| Martin ratioReturn relative to average drawdown | 8.88 | 7.89 | +0.99 |
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 | SCMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.34 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.97 | -0.50 |
Drawdowns
NYF vs. SCMB - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, which is greater than SCMB's maximum drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for NYF and SCMB.
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Drawdown Indicators
| NYF | SCMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -6.13% | -6.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.92% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -5.57% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -12.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | — | — |
Current DrawdownCurrent decline from peak | -0.56% | -0.87% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -1.32% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.87% | -0.10% |
Volatility
NYF vs. SCMB - Volatility Comparison
The current volatility for iShares New York Muni Bond ETF (NYF) is 0.95%, while Schwab Municipal Bond ETF (SCMB) has a volatility of 1.04%. This indicates that NYF experiences smaller price fluctuations and is considered to be less risky than SCMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | SCMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.04% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 2.17% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.78% | 2.94% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 4.16% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 4.16% | +0.32% |
NYF vs. SCMB - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is higher than SCMB's 0.03% 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. SCMB - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.09%, less than SCMB's 3.54% 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% |
SCMB Schwab Municipal Bond ETF | 3.54% | 3.36% | 3.34% | 3.10% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NYF and SCMB have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCMB has higher volatility (1.04%) compared to NYF (0.95%). In terms of maximum drawdown, NYF dropped -13.12% vs SCMB's -6.13%.
On 3-year performance, SCMB leads with 3.37% vs 3.36% for NYF. On fees, SCMB is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SCMB has performed better with a 3.37% return vs 3.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCMB is cheaper with a 0.03% expense ratio, compared with 0.25% for NYF.
SCMB has the higher dividend yield at 3.54%, compared with 3.09% for NYF.
NYF tracks S&P New York AMT-Free Municipal Bond Index, while SCMB tracks ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.25% for NYF and 0.03% for SCMB.
NYF currently has the higher Sharpe Ratio (2.46 vs 2.34), 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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