NYF vs. TAXT
NYF (iShares New York Muni Bond ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds - NYF tracks the ICE AMT-Free New York Plus Municipal Index while TAXT tracks the ICE Focused Municipal Bond Index. Both are passively managed. Their correlation of 0.85 means they have usually moved in the same direction. NYF charges 0.09%/yr vs 0.05%/yr for TAXT.
Performance
NYF vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 0.64% return, which is significantly lower than TAXT's 0.70% return.
NYF
- 1D
- 0.25%
- 1M
- -1.56%
- 6M
- -0.13%
- YTD
- 0.64%
- 1Y
- 4.71%
- 3Y*
- 3.02%
- 5Y*
- 0.53%
- 10Y*
- 1.64%
- ALL TIME*
- 3.06%
TAXT
- 1D
- 0.24%
- 1M
- -1.20%
- 6M
- -0.21%
- YTD
- 0.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.91M | $8.04M | $7.81M | |
| $91.51K | $92.15K | $143.71K |
NYF vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NYF iShares New York Muni Bond ETF | 0.64% | 4.10% |
TAXT Northern Trust Tax-Exempt Bond ETF | 0.70% | 3.91% |
Correlation
The correlation between NYF and TAXT is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.85 |
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Return for Risk
NYF vs. TAXT — Risk / Return Rank
NYF
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NYF vs. TAXT - 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 Tax-Exempt Bond ETF (TAXT). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NYF | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.36 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | — | — |
| Martin ratioReturn relative to average drawdown | 5.58 | — | — |
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Drawdowns
NYF vs. TAXT - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for NYF and TAXT.
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Drawdown Indicators
| NYF | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -2.49% | -10.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.62% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.41% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | — | — |
Current DrawdownCurrent decline from peak | -1.56% | -1.35% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -0.52% | -1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | — | — |
Volatility
NYF vs. TAXT - Volatility Comparison
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Volatility by Period
| NYF | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.74% | 2.57% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.02% | 2.57% | +1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 2.57% | +1.91% |
NYF vs. TAXT - Expense Ratio Comparison
NYF has a 0.09% expense ratio, which is higher than TAXT'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. TAXT - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.16%, which matches TAXT's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 3.16% | 2.99% | 2.77% | 2.36% | 2.04% | 1.85% | 1.98% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% |
TAXT Northern Trust Tax-Exempt Bond ETF | 3.16% | 1.23% | 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 TAXT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXT is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXT is cheaper with a 0.05% expense ratio, compared with 0.09% for NYF.
NYF and TAXT have nearly identical dividend yields, around 3.16%.
NYF tracks ICE AMT-Free New York Plus Municipal Index, while TAXT tracks ICE Focused Municipal Bond Index. They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.09% for NYF and 0.05% for TAXT.
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