PMBAX vs. DNYMX
PMBAX (JPMorgan Tax Free Bond Fund) and DNYMX (DFA NY Municipal Bond Portfolio) are both Municipal Bonds funds. Over the past 10 years, PMBAX returned 1.26%/yr vs 1.28%/yr for DNYMX. Their 0.45 correlation means their historical movements had little consistent relationship. PMBAX charges 0.67%/yr vs 0.25%/yr for DNYMX.
Performance
PMBAX vs. DNYMX - Performance Comparison
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Returns By Period
In the year-to-date period, PMBAX achieves a -0.39% return, which is significantly lower than DNYMX's 1.21% return. Both investments have delivered pretty close results over the past 10 years, with PMBAX having a 1.26% annualized return and DNYMX not far ahead at 1.28%.
PMBAX
- 1D
- -0.28%
- 1M
- -1.74%
- 6M
- -0.84%
- YTD
- -0.39%
- 1Y
- 3.73%
- 3Y*
- 2.63%
- 5Y*
- -0.70%
- 10Y*
- 1.26%
- ALL TIME*
- 3.20%
DNYMX
- 1D
- 0.02%
- 1M
- -0.08%
- 6M
- 0.78%
- YTD
- 1.21%
- 1Y
- 2.35%
- 3Y*
- 2.77%
- 5Y*
- 1.61%
- 10Y*
- 1.28%
- ALL TIME*
- 1.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PMBAX vs. DNYMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMBAX JPMorgan Tax Free Bond Fund | -0.39% | 3.45% | 1.86% | 6.39% | -13.14% | 2.37% | 5.45% | 7.44% | 0.46% | 4.87% |
DNYMX DFA NY Municipal Bond Portfolio | 1.21% | 2.69% | 2.87% | 2.76% | -1.17% | -0.10% | 1.26% | 2.42% | 1.02% | 1.74% |
Correlation
The correlation between PMBAX and DNYMX is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.45 |
The correlation between PMBAX and DNYMX shifts across timeframes, from 0.28 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PMBAX vs. DNYMX — Risk / Return Rank
PMBAX
DNYMX
PMBAX vs. DNYMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Tax Free Bond Fund (PMBAX) and DFA NY Municipal Bond Portfolio (DNYMX). 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.
| PMBAX | DNYMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -5.42 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 3.15 | -1.79 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 10.27 | -8.83 |
| Martin ratioReturn relative to average drawdown | 4.44 | 43.41 | -38.97 |
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Drawdowns
PMBAX vs. DNYMX - Drawdown Comparison
The maximum PMBAX drawdown since its inception was -18.95%, which is greater than DNYMX's maximum drawdown of -3.19%. Use the drawdown chart below to compare losses from any high point for PMBAX and DNYMX.
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Drawdown Indicators
| PMBAX | DNYMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.95% | -3.19% | -15.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -0.24% | -2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -6.62% | -0.98% | -5.64% |
Max Drawdown (5Y)Largest decline over 5 years | -18.90% | -2.53% | -16.37% |
Max Drawdown (10Y)Largest decline over 10 years | -18.95% | -3.19% | -15.76% |
Current DrawdownCurrent decline from peak | -3.59% | -0.08% | -3.51% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -0.41% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.06% | +0.92% |
Volatility
PMBAX vs. DNYMX - Volatility Comparison
JPMorgan Tax Free Bond Fund (PMBAX) has a higher volatility of 1.03% compared to DFA NY Municipal Bond Portfolio (DNYMX) at 0.20%. This indicates that PMBAX's price experiences larger fluctuations and is considered to be riskier than DNYMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMBAX | DNYMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.20% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 0.48% | +1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.70% | 0.65% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.53% | 0.88% | +3.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.61% | 1.04% | +3.57% |
PMBAX vs. DNYMX - Expense Ratio Comparison
PMBAX has a 0.67% expense ratio, which is higher than DNYMX's 0.25% expense ratio.
Dividends
PMBAX vs. DNYMX - Dividend Comparison
PMBAX's dividend yield for the trailing twelve months is around 3.05%, more than DNYMX's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DNYMX DFA NY Municipal Bond Portfolio | 2.62% | 2.36% | 2.73% | 1.92% | 0.70% | 0.59% | 1.06% | 1.31% | 1.21% | 1.04% | 1.08% | 0.00% |
PMBAX JPMorgan Tax Free Bond Fund | 3.05% | 3.55% | 3.51% | 3.33% | 2.92% | 2.11% | 2.20% | 2.71% | 3.41% | 3.24% | 5.46% | 4.46% |
Frequently Asked Questions
PMBAX and DNYMX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMBAX has higher volatility (1.03%) compared to DNYMX (0.20%). In terms of maximum drawdown, PMBAX dropped -18.95% vs DNYMX's -3.19%.
DNYMX currently has the higher Sharpe Ratio (3.80 vs 1.61), 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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