Correlation
The correlation between PZT and VNYUX is -0.12. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PZT or VNYUX.
Performance
PZT vs. VNYUX - Performance Comparison
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Key characteristics
PZT:
-0.22
VNYUX:
0.24
PZT:
-0.26
VNYUX:
0.28
PZT:
0.97
VNYUX:
1.05
PZT:
-0.17
VNYUX:
0.16
PZT:
-0.66
VNYUX:
0.52
PZT:
2.99%
VNYUX:
2.21%
PZT:
8.48%
VNYUX:
6.28%
PZT:
-22.72%
VNYUX:
-16.59%
PZT:
-9.50%
VNYUX:
-4.45%
Returns By Period
In the year-to-date period, PZT achieves a -3.90% return, which is significantly lower than VNYUX's -2.45% return. Over the past 10 years, PZT has underperformed VNYUX with an annualized return of 1.88%, while VNYUX has yielded a comparatively higher 2.34% annualized return.
PZT
-3.90%
-1.52%
-6.00%
-2.11%
0.26%
-0.42%
1.88%
VNYUX
-2.45%
-1.04%
-4.02%
1.13%
1.69%
0.70%
2.34%
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PZT vs. VNYUX - Expense Ratio Comparison
PZT has a 0.28% expense ratio, which is higher than VNYUX's 0.09% expense ratio.
Risk-Adjusted Performance
PZT vs. VNYUX — Risk-Adjusted Performance Rank
PZT
VNYUX
PZT vs. VNYUX - Risk-Adjusted Performance 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.
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Dividends
PZT vs. VNYUX - Dividend Comparison
PZT's dividend yield for the trailing twelve months is around 3.36%, more than VNYUX's 3.32% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | 3.36% | 3.04% | 2.82% | 2.66% | 2.77% | 2.55% | 2.73% | 3.01% | 2.94% | 3.36% | 3.40% | 3.75% |
VNYUX Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares | 3.32% | 3.45% | 3.16% | 2.94% | 3.26% | 3.52% | 3.37% | 3.52% | 3.74% | 3.92% | 3.43% | 3.50% |
Drawdowns
PZT vs. VNYUX - Drawdown Comparison
The maximum PZT drawdown since its inception was -22.72%, 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.
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Volatility
PZT vs. VNYUX - Volatility Comparison
Invesco New York AMT-Free Municipal Bond ETF (PZT) has a higher volatility of 1.66% compared to Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX) at 0.90%. 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.
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