ASTEX vs. NYAAX
Compare and contrast key facts about American Funds Short-Term Tax Exempt Bond Fund (ASTEX) and American Funds Tax-Exempt Fund of New York (NYAAX).
ASTEX is managed by American Funds. It was launched on Aug 6, 2009. NYAAX is managed by American Funds. It was launched on Oct 31, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ASTEX or NYAAX.
Performance
ASTEX vs. NYAAX - Performance Comparison
Returns By Period
The year-to-date returns for both investments are quite close, with ASTEX having a 2.43% return and NYAAX slightly higher at 2.54%. Over the past 10 years, ASTEX has underperformed NYAAX with an annualized return of 1.07%, while NYAAX has yielded a comparatively higher 2.06% annualized return.
ASTEX
2.43%
-0.08%
2.66%
4.51%
1.02%
1.07%
NYAAX
2.54%
0.05%
2.84%
7.46%
0.90%
2.06%
Key characteristics
| ASTEX | NYAAX | |
|---|---|---|
| Sharpe Ratio | 2.65 | 2.01 |
| Sortino Ratio | 4.49 | 2.99 |
| Omega Ratio | 1.78 | 1.46 |
| Calmar Ratio | 1.75 | 0.77 |
| Martin Ratio | 13.35 | 9.51 |
| Ulcer Index | 0.34% | 0.81% |
| Daily Std Dev | 1.70% | 3.82% |
| Max Drawdown | -5.66% | -16.51% |
| Current Drawdown | -0.58% | -3.22% |
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ASTEX vs. NYAAX - Expense Ratio Comparison
ASTEX has a 0.53% expense ratio, which is lower than NYAAX's 0.61% expense ratio.
Correlation
The correlation between ASTEX and NYAAX is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
ASTEX vs. NYAAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Short-Term Tax Exempt Bond Fund (ASTEX) and American Funds Tax-Exempt Fund of New York (NYAAX). 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.
Dividends
ASTEX vs. NYAAX - Dividend Comparison
ASTEX's dividend yield for the trailing twelve months is around 2.47%, less than NYAAX's 2.95% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASTEX American Funds Short-Term Tax Exempt Bond Fund | 2.47% | 2.09% | 1.07% | 0.50% | 1.04% | 1.51% | 1.44% | 1.23% | 1.07% | 1.03% | 1.05% | 1.10% |
NYAAX American Funds Tax-Exempt Fund of New York | 2.95% | 2.76% | 2.43% | 2.07% | 2.32% | 2.47% | 2.61% | 2.49% | 2.54% | 2.72% | 2.91% | 3.07% |
Drawdowns
ASTEX vs. NYAAX - Drawdown Comparison
The maximum ASTEX drawdown since its inception was -5.66%, smaller than the maximum NYAAX drawdown of -16.51%. Use the drawdown chart below to compare losses from any high point for ASTEX and NYAAX. For additional features, visit the drawdowns tool.
Volatility
ASTEX vs. NYAAX - Volatility Comparison
The current volatility for American Funds Short-Term Tax Exempt Bond Fund (ASTEX) is 0.75%, while American Funds Tax-Exempt Fund of New York (NYAAX) has a volatility of 1.89%. This indicates that ASTEX experiences smaller price fluctuations and is considered to be less risky than NYAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.