NYAAX vs. LSMSX
Compare and contrast key facts about American Funds Tax-Exempt Fund of New York (NYAAX) and Western Asset SMASh Series TF Fund (LSMSX).
NYAAX is managed by American Funds. It was launched on Oct 31, 2010. LSMSX is managed by Franklin Templeton. It was launched on Dec 22, 2015.
Performance
NYAAX vs. LSMSX - Performance Comparison
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NYAAX vs. LSMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NYAAX American Funds Tax-Exempt Fund of New York | -0.57% | 3.67% | 2.68% | 6.36% | -11.11% | 2.67% | 4.18% | 7.18% | 0.37% | 4.63% |
LSMSX Western Asset SMASh Series TF Fund | -0.27% | 3.22% | 2.22% | 7.96% | -10.03% | 4.11% | 4.48% | 8.16% | 0.46% | 4.92% |
Returns By Period
In the year-to-date period, NYAAX achieves a -0.57% return, which is significantly lower than LSMSX's -0.27% return.
NYAAX
- 1D
- 0.20%
- 1M
- -2.56%
- YTD
- -0.57%
- 6M
- 0.86%
- 1Y
- 3.33%
- 3Y*
- 3.06%
- 5Y*
- 0.58%
- 10Y*
- 1.78%
LSMSX
- 1D
- 0.21%
- 1M
- -2.62%
- YTD
- -0.27%
- 6M
- 1.22%
- 1Y
- 3.63%
- 3Y*
- 3.26%
- 5Y*
- 1.12%
- 10Y*
- —
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NYAAX vs. LSMSX - Expense Ratio Comparison
NYAAX has a 0.61% expense ratio, which is higher than LSMSX's 0.01% expense ratio.
Return for Risk
NYAAX vs. LSMSX — Risk / Return Rank
NYAAX
LSMSX
NYAAX vs. LSMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Tax-Exempt Fund of New York (NYAAX) and Western Asset SMASh Series TF Fund (LSMSX). 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.
| NYAAX | LSMSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | 0.67 | +0.09 |
Sortino ratioReturn per unit of downside risk | 1.06 | 0.89 | +0.17 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.83 | 0.71 | +0.12 |
Martin ratioReturn relative to average drawdown | 2.41 | 1.98 | +0.43 |
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
| NYAAX | LSMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.67 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.25 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.58 | +0.15 |
Correlation
The correlation between NYAAX and LSMSX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NYAAX vs. LSMSX - Dividend Comparison
NYAAX's dividend yield for the trailing twelve months is around 3.26%, less than LSMSX's 3.97% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NYAAX American Funds Tax-Exempt Fund of New York | 3.26% | 4.24% | 3.54% | 2.29% | 1.82% | 2.82% | 2.34% | 2.65% | 2.61% | 2.70% | 2.31% | 2.72% |
LSMSX Western Asset SMASh Series TF Fund | 3.97% | 3.83% | 4.30% | 3.37% | 2.38% | 2.73% | 2.33% | 2.55% | 2.34% | 0.90% | 0.00% | 0.00% |
Drawdowns
NYAAX vs. LSMSX - Drawdown Comparison
The maximum NYAAX drawdown since its inception was -16.40%, which is greater than LSMSX's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for NYAAX and LSMSX.
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Drawdown Indicators
| NYAAX | LSMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.40% | -15.00% | -1.40% |
Max Drawdown (1Y)Largest decline over 1 year | -5.48% | -6.21% | +0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -16.40% | -15.00% | -1.40% |
Max Drawdown (10Y)Largest decline over 10 years | -16.40% | — | — |
Current DrawdownCurrent decline from peak | -2.56% | -2.62% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -2.88% | +0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 2.21% | -0.33% |
Volatility
NYAAX vs. LSMSX - Volatility Comparison
American Funds Tax-Exempt Fund of New York (NYAAX) has a higher volatility of 1.16% compared to Western Asset SMASh Series TF Fund (LSMSX) at 1.10%. This indicates that NYAAX's price experiences larger fluctuations and is considered to be riskier than LSMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYAAX | LSMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.10% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 1.60% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.57% | 5.78% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.38% | 4.44% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 4.52% | -0.33% |