PSNYX vs. PEOPX

Last updated Jun 5, 2026

PSNYX (BNY Mellon New York AMT-Free Municipal Bond Fund) and PEOPX (BNY Mellon S&P 500 Index Fund) are both mutual funds - PSNYX is a Municipal Bonds fund managed by BNY Mellon, while PEOPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, PSNYX returned 1.57%/yr vs 14.90%/yr for PEOPX. At a correlation of -0.01, they often move in opposite directions. PSNYX charges 0.79%/yr vs 0.50%/yr for PEOPX.

Performance

PSNYX vs. PEOPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon New York AMT-Free Municipal Bond Fund (PSNYX) and BNY Mellon S&P 500 Index Fund (PEOPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSNYX achieves a 1.86% return, which is significantly lower than PEOPX's 10.67% return. Over the past 10 years, PSNYX has underperformed PEOPX with an annualized return of 1.57%, while PEOPX has yielded a comparatively higher 14.90% annualized return.

PSNYX

• 1D: -0.07%
• 1M: 0.78%
• YTD: 1.86%
• 6M: 2.12%
• 1Y: 7.02%
• 3Y*: 3.50%
• 5Y*: 0.32%
• 10Y*: 1.57%

PEOPX

• 1D: -0.75%
• 1M: 4.13%
• YTD: 10.67%
• 6M: 10.58%
• 1Y: 27.46%
• 3Y*: 21.95%
• 5Y*: 13.39%
• 10Y*: 14.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PSNYX vs. PEOPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSNYX BNY Mellon New York AMT-Free Municipal Bond Fund	1.86%	3.47%	1.93%	5.66%	-10.84%	1.91%	3.77%	7.91%	-0.39%	5.07%
PEOPX BNY Mellon S&P 500 Index Fund	10.67%	17.33%	24.50%	25.78%	-18.67%	28.25%	17.83%	30.96%	-6.01%	21.26%

Correlation

The correlation between PSNYX and PEOPX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jan 2, 1990	-0.01

The correlation between PSNYX and PEOPX shifts across timeframes, from -0.01 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PSNYX vs. PEOPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PSNYX

PSNYX Risk / Return Rank: 68
PSNYX Sharpe Ratio Rank: 78
PSNYX Sortino Ratio Rank: 83
PSNYX Omega Ratio Rank: 87
PSNYX Calmar Ratio Rank: 50
PSNYX Martin Ratio Rank: 44

PEOPX

PEOPX Risk / Return Rank: 63
PEOPX Sharpe Ratio Rank: 62
PEOPX Sortino Ratio Rank: 57
PEOPX Omega Ratio Rank: 58
PEOPX Calmar Ratio Rank: 65
PEOPX Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PSNYX vs. PEOPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon New York AMT-Free Municipal Bond Fund (PSNYX) and BNY Mellon S&P 500 Index Fund (PEOPX). 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.

	PSNYX	PEOPX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.32	+0.22
Sortino ratio: Return per unit of downside risk	3.96	3.18	+0.78
Omega ratio: Gain probability vs. loss probability	1.62	1.42	+0.20
Calmar ratio: Return relative to maximum drawdown	2.64	3.07	-0.43
Martin ratio: Return relative to average drawdown	9.07	14.31	-5.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSNYX vs. PEOPX - Sharpe Ratio Comparison

The current PSNYX Sharpe Ratio is 2.54, which is comparable to the PEOPX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of PSNYX and PEOPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PSNYX	PEOPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.32	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.80	-0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.83	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.49	+0.43

Drawdowns

PSNYX vs. PEOPX - Drawdown Comparison

The maximum PSNYX drawdown since its inception was -27.64%, smaller than the maximum PEOPX drawdown of -57.45%. Use the drawdown chart below to compare losses from any high point for PSNYX and PEOPX.

Drawdown Indicators

	PSNYX	PEOPX	Difference
Max Drawdown Largest peak-to-trough decline	-27.64%	-57.45%	+29.81%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-8.97%	+6.21%
Max Drawdown (3Y) Largest decline over 3 years	-5.86%	-18.80%	+12.94%
Max Drawdown (5Y) Largest decline over 5 years	-15.65%	-24.79%	+9.14%
Max Drawdown (10Y) Largest decline over 10 years	-15.65%	-33.85%	+18.20%
Current Drawdown Current decline from peak	-0.18%	-0.75%	+0.57%
Average Drawdown Average peak-to-trough decline	-3.08%	-10.51%	+7.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	1.92%	-1.12%

Volatility

PSNYX vs. PEOPX - Volatility Comparison

The current volatility for BNY Mellon New York AMT-Free Municipal Bond Fund (PSNYX) is 1.17%, while BNY Mellon S&P 500 Index Fund (PEOPX) has a volatility of 2.94%. This indicates that PSNYX experiences smaller price fluctuations and is considered to be less risky than PEOPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSNYX	PEOPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	2.94%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	2.16%	8.99%	-6.83%
Volatility (1Y) Calculated over the trailing 1-year period	2.88%	11.89%	-9.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	16.92%	-12.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.07%	17.96%	-13.89%

PSNYX vs. PEOPX - Expense Ratio Comparison

PSNYX has a 0.79% expense ratio, which is higher than PEOPX's 0.50% expense ratio.

Dividends

PSNYX vs. PEOPX - Dividend Comparison

PSNYX's dividend yield for the trailing twelve months is around 2.92%, less than PEOPX's 9.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEOPX BNY Mellon S&P 500 Index Fund	9.35%	10.35%	10.38%	7.35%	11.78%	12.89%	11.94%	14.37%	14.75%	9.21%	10.90%	7.81%
PSNYX BNY Mellon New York AMT-Free Municipal Bond Fund	2.92%	3.80%	2.72%	2.12%	2.16%	2.09%	3.15%	3.13%	2.68%	2.63%	2.85%	3.00%

Frequently Asked Questions

Can I hold both PSNYX and PEOPX in my portfolio?

PSNYX and PEOPX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSNYX or PEOPX?

PEOPX has higher volatility (2.94%) compared to PSNYX (1.17%). In terms of maximum drawdown, PSNYX dropped -27.64% vs PEOPX's -57.45%.

Which has better risk-adjusted returns?

PSNYX currently has the higher Sharpe Ratio (2.54 vs 2.32), 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.