NYF vs. VNYTX
NYF (iShares New York Muni Bond ETF) and VNYTX (Vanguard New York Long-Term Tax-Exempt Fund Investor Shares) are both Municipal Bonds funds. Over the past 10 years, NYF returned 1.78%/yr vs 2.39%/yr for VNYTX. At a 0.48 correlation, their price movements are largely independent. NYF charges 0.25%/yr vs 0.17%/yr for VNYTX.
Performance
NYF vs. VNYTX - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 1.88% return, which is significantly lower than VNYTX's 2.31% return. Over the past 10 years, NYF has underperformed VNYTX with an annualized return of 1.78%, while VNYTX has yielded a comparatively higher 2.39% annualized return.
NYF
- 1D
- 0.33%
- 1M
- 1.72%
- YTD
- 1.88%
- 6M
- 2.09%
- 1Y
- 6.89%
- 3Y*
- 3.27%
- 5Y*
- 0.86%
- 10Y*
- 1.78%
VNYTX
- 1D
- 0.09%
- 1M
- 2.09%
- YTD
- 2.31%
- 6M
- 2.72%
- 1Y
- 8.34%
- 3Y*
- 4.67%
- 5Y*
- 1.20%
- 10Y*
- 2.39%
NYF vs. VNYTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 1.88% | 3.64% | 1.13% | 5.76% | -7.75% | 1.34% | 4.18% | 6.49% | 0.66% | 5.02% |
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 2.31% | 4.72% | 2.49% | 8.00% | -11.00% | 2.01% | 5.52% | 8.61% | 0.51% | 5.79% |
Correlation
The correlation between NYF and VNYTX is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.48 |
Over the past year, NYF and VNYTX have become more correlated (0.72) than their long-term average of 0.48, meaning their price movements have been converging.
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Return for Risk
NYF vs. VNYTX — Risk / Return Rank
NYF
VNYTX
NYF vs. VNYTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX). 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 | VNYTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.62 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 2.72 | -0.21 |
| Martin ratioReturn relative to average drawdown | 8.92 | 9.52 | -0.60 |
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Drawdowns
NYF vs. VNYTX - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, smaller than the maximum VNYTX drawdown of -21.73%. Use the drawdown chart below to compare losses from any high point for NYF and VNYTX.
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Drawdown Indicators
| NYF | VNYTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -21.73% | +8.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -3.08% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -7.11% | +1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -12.71% | -16.67% | +3.96% |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | -16.67% | +3.55% |
Current DrawdownCurrent decline from peak | -0.20% | -0.06% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -2.50% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.88% | -0.11% |
Volatility
NYF vs. VNYTX - Volatility Comparison
The current volatility for iShares New York Muni Bond ETF (NYF) is 0.71%, while Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) has a volatility of 0.87%. This indicates that NYF experiences smaller price fluctuations and is considered to be less risky than VNYTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | VNYTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.87% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 2.45% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.74% | 3.19% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 4.77% | -0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 4.60% | -0.12% |
NYF vs. VNYTX - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is higher than VNYTX's 0.17% 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. VNYTX - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.08%, less than VNYTX's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 3.08% | 2.99% | 2.77% | 2.36% | 2.04% | 1.85% | 1.98% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% |
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 3.64% | 4.44% | 3.93% | 2.85% | 2.86% | 2.75% | 3.43% | 3.52% | 3.44% | 3.64% | 3.82% | 3.36% |
Frequently Asked Questions
NYF and VNYTX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNYTX has higher volatility (0.87%) compared to NYF (0.71%). In terms of maximum drawdown, NYF dropped -13.12% vs VNYTX's -21.73%.
VNYTX currently has the higher Sharpe Ratio (2.62 vs 2.52), 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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