RMUNX vs. NYF
RMUNX (Invesco Rochester New York Municipals Fund) and NYF (iShares New York Muni Bond ETF) are both Municipal Bonds funds. Over the past 10 years, RMUNX returned 3.76%/yr vs 1.83%/yr for NYF. At a 0.42 correlation, their price movements are largely independent. RMUNX charges 0.78%/yr vs 0.25%/yr for NYF.
Performance
RMUNX vs. NYF - Performance Comparison
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Returns By Period
In the year-to-date period, RMUNX achieves a 1.78% return, which is significantly higher than NYF's 1.63% return. Over the past 10 years, RMUNX has outperformed NYF with an annualized return of 3.76%, while NYF has yielded a comparatively lower 1.83% annualized return.
RMUNX
- 1D
- 0.00%
- 1M
- 1.17%
- YTD
- 1.78%
- 6M
- 1.90%
- 1Y
- 6.03%
- 3Y*
- 3.40%
- 5Y*
- 0.03%
- 10Y*
- 3.76%
NYF
- 1D
- 0.11%
- 1M
- 0.67%
- YTD
- 1.63%
- 6M
- 1.96%
- 1Y
- 6.74%
- 3Y*
- 3.29%
- 5Y*
- 0.85%
- 10Y*
- 1.83%
RMUNX vs. NYF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RMUNX Invesco Rochester New York Municipals Fund | 1.78% | 0.82% | 2.37% | 9.85% | -15.09% | 6.83% | 5.84% | 13.22% | 8.89% | 3.69% |
NYF iShares New York Muni Bond ETF | 1.63% | 3.64% | 1.13% | 5.76% | -7.75% | 1.34% | 4.18% | 6.49% | 0.66% | 5.02% |
Correlation
The correlation between RMUNX and NYF is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2007 | 0.42 |
Over the past year, RMUNX and NYF have become more correlated (0.67) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
RMUNX vs. NYF — Risk / Return Rank
RMUNX
NYF
RMUNX vs. NYF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Rochester New York Municipals Fund (RMUNX) and iShares New York Muni Bond ETF (NYF). 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.
| RMUNX | NYF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.53 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 2.45 | -0.29 |
| Martin ratioReturn relative to average drawdown | 5.99 | 8.79 | -2.80 |
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
| RMUNX | NYF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 2.44 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.21 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.41 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 0.47 | +0.57 |
Drawdowns
RMUNX vs. NYF - Drawdown Comparison
The maximum RMUNX drawdown since its inception was -36.55%, which is greater than NYF's maximum drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for RMUNX and NYF.
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Drawdown Indicators
| RMUNX | NYF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.55% | -13.12% | -23.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -2.76% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -10.10% | -5.68% | -4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -21.81% | -12.71% | -9.10% |
Max Drawdown (10Y)Largest decline over 10 years | -21.81% | -13.12% | -8.69% |
Current DrawdownCurrent decline from peak | -2.08% | -0.45% | -1.63% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -2.31% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 0.77% | +0.92% |
Volatility
RMUNX vs. NYF - Volatility Comparison
Invesco Rochester New York Municipals Fund (RMUNX) has a higher volatility of 1.68% compared to iShares New York Muni Bond ETF (NYF) at 0.96%. This indicates that RMUNX's price experiences larger fluctuations and is considered to be riskier than NYF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RMUNX | NYF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 0.96% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 2.08% | +1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.48% | 2.78% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.64% | 4.00% | +2.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.00% | 4.48% | +1.52% |
RMUNX vs. NYF - Expense Ratio Comparison
RMUNX has a 0.78% expense ratio, which is higher than NYF's 0.25% expense ratio.
Dividends
RMUNX vs. NYF - Dividend Comparison
RMUNX's dividend yield for the trailing twelve months is around 3.13%, more than NYF's 3.09% 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% |
RMUNX Invesco Rochester New York Municipals Fund | 3.13% | 5.30% | 4.81% | 3.77% | 3.03% | 3.24% | 3.32% | 3.43% | 3.40% | 4.34% | 6.01% | 6.55% |
Frequently Asked Questions
RMUNX and NYF have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RMUNX has higher volatility (1.68%) compared to NYF (0.96%). In terms of maximum drawdown, RMUNX dropped -36.55% vs NYF's -13.12%.
NYF currently has the higher Sharpe Ratio (2.44 vs 1.59), 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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