NYF vs. THYM
NYF (iShares New York Muni Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - NYF is a Municipal Bonds fund tracking the S&P New York AMT-Free Municipal Bond Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. NYF is passively managed, while THYM is actively managed. A 0.74 correlation means they provide meaningful diversification when combined. NYF charges 0.25%/yr vs 0.32%/yr for THYM.
Performance
NYF vs. THYM - 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 THYM's 3.33% 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%
THYM
- 1D
- 0.14%
- 1M
- 1.14%
- YTD
- 3.33%
- 6M
- 3.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NYF vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NYF iShares New York Muni Bond ETF | 1.51% | 0.43% |
THYM T. Rowe Price High Income Municipal ETF | 3.33% | 0.27% |
Correlation
The correlation between NYF and THYM is 0.74, 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 Nov 21, 2025 | 0.74 |
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Return for Risk
NYF vs. THYM — Risk / Return Rank
NYF
THYM
NYF vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and T. Rowe Price High Income Municipal ETF (THYM). 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 | THYM | 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 | 2.48 | — | — |
| Martin ratioReturn relative to average drawdown | 8.88 | — | — |
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 | THYM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | — | — |
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 | 1.62 | -1.15 |
Drawdowns
NYF vs. THYM - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for NYF and THYM.
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Drawdown Indicators
| NYF | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -2.93% | -10.19% |
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 | -0.56% | 0.00% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -0.49% | -1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | — | — |
Volatility
NYF vs. THYM - Volatility Comparison
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Volatility by Period
| NYF | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.78% | 4.35% | -1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 4.35% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 4.35% | +0.13% |
NYF vs. THYM - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is lower than THYM's 0.32% expense ratio.
Dividends
NYF vs. THYM - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.09%, more than THYM's 2.18% 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% |
THYM T. Rowe Price High Income Municipal ETF | 2.18% | 0.37% | 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 THYM have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NYF is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NYF is cheaper with a 0.25% expense ratio, compared with 0.32% for THYM.
NYF has the higher dividend yield at 3.09%, compared with 2.18% for THYM.
NYF is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.25% for NYF and 0.32% for THYM.
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