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