PRNYX vs. VNYUX
PRNYX (T. Rowe Price New York Tax Free Bond Fund) and VNYUX (Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares) are both Municipal Bonds funds. Over the past 10 years, PRNYX returned 2.18%/yr vs 2.41%/yr for VNYUX. Their correlation of 0.91 suggests significant overlap in exposure. PRNYX charges 0.53%/yr vs 0.09%/yr for VNYUX.
Performance
PRNYX vs. VNYUX - Performance Comparison
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Returns By Period
In the year-to-date period, PRNYX achieves a 2.56% return, which is significantly higher than VNYUX's 2.23% return. Over the past 10 years, PRNYX has underperformed VNYUX with an annualized return of 2.18%, while VNYUX has yielded a comparatively higher 2.41% annualized return.
PRNYX
- 1D
- -0.09%
- 1M
- 2.10%
- YTD
- 2.56%
- 6M
- 3.42%
- 1Y
- 9.53%
- 3Y*
- 4.78%
- 5Y*
- 1.43%
- 10Y*
- 2.18%
VNYUX
- 1D
- -0.09%
- 1M
- 1.90%
- YTD
- 2.23%
- 6M
- 2.74%
- 1Y
- 8.19%
- 3Y*
- 4.60%
- 5Y*
- 1.29%
- 10Y*
- 2.41%
PRNYX vs. VNYUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRNYX T. Rowe Price New York Tax Free Bond Fund | 2.56% | 4.53% | 3.35% | 8.08% | -11.19% | 3.27% | 4.08% | 6.59% | 0.80% | 4.69% |
VNYUX Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares | 2.23% | 4.79% | 2.58% | 8.05% | -10.92% | 2.09% | 5.60% | 8.71% | 0.59% | 5.89% |
Correlation
The correlation between PRNYX and VNYUX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 14, 2001 | 0.91 |
The correlation between PRNYX and VNYUX shifts across timeframes, from 0.81 (1 year) to 0.92 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRNYX vs. VNYUX — Risk / Return Rank
PRNYX
VNYUX
PRNYX vs. VNYUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New York Tax Free Bond Fund (PRNYX) and Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX). 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.
| PRNYX | VNYUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 1.61 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 2.70 | +0.53 |
| Martin ratioReturn relative to average drawdown | 11.42 | 9.49 | +1.93 |
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Drawdowns
PRNYX vs. VNYUX - Drawdown Comparison
The maximum PRNYX drawdown since its inception was -19.17%, which is greater than VNYUX's maximum drawdown of -16.59%. Use the drawdown chart below to compare losses from any high point for PRNYX and VNYUX.
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Drawdown Indicators
| PRNYX | VNYUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.17% | -16.59% | -2.58% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -3.08% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -7.11% | -7.10% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -16.01% | -16.59% | +0.58% |
Max Drawdown (10Y)Largest decline over 10 years | -16.01% | -16.59% | +0.58% |
Current DrawdownCurrent decline from peak | -0.09% | -0.14% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -2.08% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.88% | -0.03% |
Volatility
PRNYX vs. VNYUX - Volatility Comparison
T. Rowe Price New York Tax Free Bond Fund (PRNYX) and Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX) have volatilities of 0.93% and 0.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRNYX | VNYUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.89% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 2.46% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 3.21% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.59% | 4.78% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 4.61% | -0.41% |
PRNYX vs. VNYUX - Expense Ratio Comparison
PRNYX has a 0.53% expense ratio, which is higher than VNYUX's 0.09% expense ratio.
Dividends
PRNYX vs. VNYUX - Dividend Comparison
PRNYX's dividend yield for the trailing twelve months is around 4.75%, more than VNYUX's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRNYX T. Rowe Price New York Tax Free Bond Fund | 4.75% | 4.72% | 4.32% | 3.33% | 2.15% | 2.46% | 2.86% | 2.90% | 3.24% | 3.19% | 3.34% | 3.43% |
VNYUX Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares | 3.69% | 4.50% | 4.02% | 2.89% | 2.94% | 2.82% | 3.51% | 3.61% | 3.52% | 3.73% | 3.93% | 3.44% |
Frequently Asked Questions
PRNYX and VNYUX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRNYX has higher volatility (0.93%) compared to VNYUX (0.89%). In terms of maximum drawdown, PRNYX dropped -19.17% vs VNYUX's -16.59%.
PRNYX currently has the higher Sharpe Ratio (2.96 vs 2.60), 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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