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.
Key characteristics
| PZT | VNYUX | |
|---|---|---|
| YTD Return | 1.83% | 2.06% |
| 1Y Return | 9.50% | 9.50% |
| 3Y Return (Ann) | -1.28% | -0.55% |
| 5Y Return (Ann) | 0.84% | 1.13% |
| 10Y Return (Ann) | 2.47% | 2.42% |
| Sharpe Ratio | 1.47 | 2.28 |
| Sortino Ratio | 2.21 | 3.41 |
| Omega Ratio | 1.28 | 1.52 |
| Calmar Ratio | 0.72 | 0.87 |
| Martin Ratio | 7.38 | 9.94 |
| Ulcer Index | 1.32% | 0.96% |
| Daily Std Dev | 6.60% | 4.17% |
| Max Drawdown | -22.73% | -17.21% |
| Current Drawdown | -5.22% | -2.40% |
Correlation
The correlation between PZT and VNYUX is 0.50, 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.
Performance
PZT vs. VNYUX - Performance Comparison
In the year-to-date period, PZT achieves a 1.83% return, which is significantly lower than VNYUX's 2.06% return. Both investments have delivered pretty close results over the past 10 years, with PZT having a 2.47% annualized return and VNYUX not far behind at 2.42%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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 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.
Dividends
PZT vs. VNYUX - Dividend Comparison
PZT's dividend yield for the trailing twelve months is around 2.96%, less than VNYUX's 3.40% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | 2.96% | 2.82% | 2.66% | 2.77% | 2.55% | 2.73% | 3.01% | 2.94% | 3.37% | 3.40% | 3.75% | 4.17% |
VNYUX Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares | 3.40% | 3.16% | 2.94% | 2.51% | 2.73% | 3.02% | 3.30% | 3.26% | 3.38% | 3.34% | 3.50% | 3.69% |
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 -17.21%. Use the drawdown chart below to compare losses from any high point for PZT and VNYUX. For additional features, visit the drawdowns tool.
Volatility
PZT vs. VNYUX - Volatility Comparison
Invesco New York AMT-Free Municipal Bond ETF (PZT) and Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX) have volatilities of 2.10% and 2.10%, 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.