USNYX vs. DMREX
USNYX (USAA New York Bond Fund) and DMREX (DFA Municipal Real Return Portfolio) are both Municipal Bonds funds. Over the past 10 years, USNYX returned 1.92%/yr vs 2.79%/yr for DMREX. At a 0.25 correlation, their price movements are largely independent. USNYX charges 0.67%/yr vs 0.24%/yr for DMREX.
Performance
USNYX vs. DMREX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, USNYX achieves a 2.43% return, which is significantly higher than DMREX's 2.05% return. Over the past 10 years, USNYX has underperformed DMREX with an annualized return of 1.92%, while DMREX has yielded a comparatively higher 2.79% annualized return.
USNYX
- 1D
- 0.00%
- 1M
- 2.39%
- YTD
- 2.43%
- 6M
- 2.85%
- 1Y
- 7.58%
- 3Y*
- 3.90%
- 5Y*
- 0.80%
- 10Y*
- 1.92%
DMREX
- 1D
- 0.00%
- 1M
- 0.10%
- YTD
- 2.05%
- 6M
- 2.14%
- 1Y
- 3.21%
- 3Y*
- 3.21%
- 5Y*
- 2.53%
- 10Y*
- 2.79%
USNYX vs. DMREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USNYX USAA New York Bond Fund | 2.43% | 3.14% | 2.30% | 7.67% | -11.34% | 3.33% | 3.92% | 6.87% | 1.16% | 4.36% |
DMREX DFA Municipal Real Return Portfolio | 2.05% | 2.77% | 3.10% | 2.56% | -1.42% | 6.75% | 4.11% | 6.64% | -0.51% | 2.57% |
Correlation
The correlation between USNYX and DMREX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.25 |
The correlation between USNYX and DMREX shifts across timeframes, from -0.01 (1 year) to 0.26 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
USNYX vs. DMREX — Risk / Return Rank
USNYX
DMREX
USNYX vs. DMREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA New York Bond Fund (USNYX) and DFA Municipal Real Return Portfolio (DMREX). 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.
| USNYX | DMREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.95 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 6.34 | -4.22 |
| Martin ratioReturn relative to average drawdown | 6.87 | 14.56 | -7.70 |
Loading charts...
Drawdowns
USNYX vs. DMREX - Drawdown Comparison
The maximum USNYX drawdown since its inception was -18.05%, which is greater than DMREX's maximum drawdown of -13.22%. Use the drawdown chart below to compare losses from any high point for USNYX and DMREX.
Loading charts...
Drawdown Indicators
| USNYX | DMREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.05% | -13.22% | -4.83% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -0.51% | -3.08% |
Max Drawdown (3Y)Largest decline over 3 years | -8.86% | -2.48% | -6.38% |
Max Drawdown (5Y)Largest decline over 5 years | -18.05% | -5.33% | -12.72% |
Max Drawdown (10Y)Largest decline over 10 years | -18.05% | -13.22% | -4.83% |
Current DrawdownCurrent decline from peak | -0.02% | -0.28% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -2.16% | -0.87% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.22% | +0.89% |
Volatility
USNYX vs. DMREX - Volatility Comparison
USAA New York Bond Fund (USNYX) has a higher volatility of 1.10% compared to DFA Municipal Real Return Portfolio (DMREX) at 0.27%. This indicates that USNYX's price experiences larger fluctuations and is considered to be riskier than DMREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| USNYX | DMREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.27% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 0.77% | +2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 0.99% | +2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 2.45% | +3.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 3.14% | +1.94% |
USNYX vs. DMREX - Expense Ratio Comparison
USNYX has a 0.67% expense ratio, which is higher than DMREX's 0.24% expense ratio.
Dividends
USNYX vs. DMREX - Dividend Comparison
USNYX's dividend yield for the trailing twelve months is around 3.54%, more than DMREX's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DMREX DFA Municipal Real Return Portfolio | 3.25% | 2.95% | 3.55% | 1.96% | 1.16% | 0.98% | 1.44% | 2.26% | 1.54% | 1.32% | 1.15% | 1.09% |
USNYX USAA New York Bond Fund | 3.54% | 4.16% | 4.04% | 3.10% | 3.18% | 2.61% | 3.14% | 3.16% | 3.45% | 3.42% | 3.53% | 3.54% |
Frequently Asked Questions
USNYX and DMREX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USNYX has higher volatility (1.10%) compared to DMREX (0.27%). In terms of maximum drawdown, USNYX dropped -18.05% vs DMREX's -13.22%.
DMREX currently has the higher Sharpe Ratio (3.26 vs 1.99), 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.
Find the right allocation for USNYX and DMREX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer