NYF vs. TAXI
NYF (iShares New York Muni Bond ETF) and TAXI (Northern Trust Intermediate Tax-Exempt Bond ETF) are both Municipal Bonds funds - NYF tracks the S&P New York AMT-Free Municipal Bond Index while TAXI tracks the ICE Intermediate Term Focused Municipal Bond Index. Both are passively managed. A 0.76 correlation means they provide meaningful diversification when combined. NYF charges 0.25%/yr vs 0.05%/yr for TAXI.
Performance
NYF vs. TAXI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NYF achieves a 1.63% return, which is significantly higher than TAXI's 1.00% return.
NYF
- 1D
- 0.11%
- 1M
- 0.67%
- YTD
- 1.63%
- 6M
- 1.96%
- 1Y
- 6.74%
- 3Y*
- 3.29%
- 5Y*
- 0.85%
- 10Y*
- 1.83%
TAXI
- 1D
- 0.06%
- 1M
- 0.52%
- YTD
- 1.00%
- 6M
- 1.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NYF vs. TAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NYF iShares New York Muni Bond ETF | 1.63% | 4.10% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 1.00% | 3.35% |
Correlation
The correlation between NYF and TAXI is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025 | 0.76 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NYF vs. TAXI — Risk / Return Rank
NYF
TAXI
NYF vs. TAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI). 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 | TAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.53 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | — | — |
| Martin ratioReturn relative to average drawdown | 8.79 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| NYF | TAXI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 2.95 | -2.48 |
Drawdowns
NYF vs. TAXI - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, which is greater than TAXI's maximum drawdown of -2.23%. Use the drawdown chart below to compare losses from any high point for NYF and TAXI.
Loading charts...
Drawdown Indicators
| NYF | TAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -2.23% | -10.89% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | — | — |
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 | -0.45% | -0.74% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -0.46% | -1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | — | — |
Volatility
NYF vs. TAXI - Volatility Comparison
Loading charts...
Volatility by Period
| NYF | TAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.78% | 1.90% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 1.90% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 1.90% | +2.58% |
NYF vs. TAXI - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is higher than TAXI's 0.05% 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. TAXI - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.09%, more than TAXI's 2.00% 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% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 2.00% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NYF and TAXI have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXI is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXI is cheaper with a 0.05% expense ratio, compared with 0.25% for NYF.
NYF has the higher dividend yield at 3.09%, compared with 2.00% for TAXI.
NYF tracks S&P New York AMT-Free Municipal Bond Index, while TAXI tracks ICE Intermediate Term Focused Municipal Bond Index. They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.25% for NYF and 0.05% for TAXI.
Find the right allocation for NYF and TAXI
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