PZT vs. VNYUX
Compare and contrast key facts about Invesco New York AMT-Free Municipal Bond ETF (PZT) and Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX).
PZT is a passively managed fund by Invesco that tracks the performance of the ICE BofA New York Long-Term Core Plus Muni. It was launched on Oct 11, 2007. VNYUX is managed by Vanguard. It was launched on May 14, 2001.
Performance
PZT vs. VNYUX - Performance Comparison
Loading graphics...
PZT vs. VNYUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | 0.25% | 1.76% | 1.17% | 7.57% | -13.04% | 2.67% | 5.89% | 9.52% | -0.55% | 6.21% |
VNYUX Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares | -0.31% | 4.79% | 2.58% | 8.05% | -10.92% | 2.09% | 5.60% | 8.71% | 0.59% | 5.89% |
Returns By Period
In the year-to-date period, PZT achieves a 0.25% return, which is significantly higher than VNYUX's -0.31% return. Over the past 10 years, PZT has underperformed VNYUX with an annualized return of 1.83%, while VNYUX has yielded a comparatively higher 2.43% annualized return.
PZT
- 1D
- 0.43%
- 1M
- -1.43%
- YTD
- 0.25%
- 6M
- 1.39%
- 1Y
- 2.84%
- 3Y*
- 2.31%
- 5Y*
- -0.01%
- 10Y*
- 1.83%
VNYUX
- 1D
- 0.28%
- 1M
- -2.27%
- YTD
- -0.31%
- 6M
- 1.19%
- 1Y
- 4.29%
- 3Y*
- 3.85%
- 5Y*
- 1.19%
- 10Y*
- 2.43%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PZT vs. VNYUX - Expense Ratio Comparison
PZT has a 0.28% expense ratio, which is higher than VNYUX's 0.09% expense ratio.
Return for Risk
PZT vs. VNYUX — Risk / Return Rank
PZT
VNYUX
PZT vs. VNYUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco New York AMT-Free Municipal Bond ETF (PZT) 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.
| PZT | VNYUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.41 | 0.86 | -0.45 |
Sortino ratioReturn per unit of downside risk | 0.59 | 1.17 | -0.59 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.23 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.67 | 1.01 | -0.34 |
Martin ratioReturn relative to average drawdown | 1.67 | 3.27 | -1.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| PZT | VNYUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.41 | 0.86 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | 0.25 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.53 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.93 | -0.57 |
Correlation
The correlation between PZT and VNYUX is 0.51, 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.
Dividends
PZT vs. VNYUX - Dividend Comparison
PZT's dividend yield for the trailing twelve months is around 3.57%, less than VNYUX's 3.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | 3.57% | 3.43% | 3.04% | 2.82% | 2.66% | 2.77% | 2.55% | 2.73% | 3.01% | 2.94% | 3.36% | 3.40% |
VNYUX Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares | 3.70% | 4.50% | 4.02% | 2.89% | 2.94% | 2.82% | 3.51% | 3.61% | 3.52% | 3.73% | 3.93% | 3.44% |
Drawdowns
PZT vs. VNYUX - Drawdown Comparison
The maximum PZT drawdown since its inception was -22.73%, which is greater than VNYUX's maximum drawdown of -16.59%. Use the drawdown chart below to compare losses from any high point for PZT and VNYUX.
Loading graphics...
Drawdown Indicators
| PZT | VNYUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.73% | -16.59% | -6.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -5.55% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -19.13% | -16.59% | -2.54% |
Max Drawdown (10Y)Largest decline over 10 years | -19.13% | -16.59% | -2.54% |
Current DrawdownCurrent decline from peak | -3.94% | -2.63% | -1.31% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -2.09% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 1.71% | +0.66% |
Volatility
PZT vs. VNYUX - Volatility Comparison
Invesco New York AMT-Free Municipal Bond ETF (PZT) has a higher volatility of 1.74% compared to Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX) at 1.32%. This indicates that PZT's price experiences larger fluctuations and is considered to be riskier than VNYUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| PZT | VNYUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 1.32% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 2.05% | +0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.11% | 5.64% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 4.73% | +1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 4.59% | +2.34% |