VNYTX vs. VWLUX
VNYTX (Vanguard New York Long-Term Tax-Exempt Fund Investor Shares) and VWLUX (Vanguard Long-Term Tax-Exempt Fund Admiral Shares) are both Municipal Bonds funds from Vanguard. Over the past 10 years, VNYTX returned 2.46%/yr vs 2.70%/yr for VWLUX. Their correlation of 0.92 suggests significant overlap in exposure. VNYTX charges 0.17%/yr vs 0.09%/yr for VWLUX.
Performance
VNYTX vs. VWLUX - Performance Comparison
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Returns By Period
In the year-to-date period, VNYTX achieves a 2.12% return, which is significantly higher than VWLUX's 1.88% return. Over the past 10 years, VNYTX has underperformed VWLUX with an annualized return of 2.46%, while VWLUX has yielded a comparatively higher 2.70% annualized return.
VNYTX
- 1D
- 0.00%
- 1M
- 0.77%
- YTD
- 2.12%
- 6M
- 2.53%
- 1Y
- 8.45%
- 3Y*
- 4.70%
- 5Y*
- 1.20%
- 10Y*
- 2.46%
VWLUX
- 1D
- -0.09%
- 1M
- 0.78%
- YTD
- 1.88%
- 6M
- 2.30%
- 1Y
- 8.07%
- 3Y*
- 4.74%
- 5Y*
- 1.29%
- 10Y*
- 2.70%
VNYTX vs. VWLUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 2.12% | 4.72% | 2.49% | 8.00% | -11.00% | 2.01% | 5.52% | 8.61% | 0.51% | 5.79% |
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | 1.88% | 4.90% | 2.54% | 7.65% | -10.35% | 1.89% | 6.29% | 8.87% | 0.99% | 6.56% |
Correlation
The correlation between VNYTX and VWLUX is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2001 | 0.92 |
The correlation between VNYTX and VWLUX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
VNYTX vs. VWLUX — Risk / Return Rank
VNYTX
VWLUX
VNYTX vs. VWLUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) and Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX). 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.
| VNYTX | VWLUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.69 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 2.73 | +0.13 |
| Martin ratioReturn relative to average drawdown | 10.03 | 9.77 | +0.26 |
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
| VNYTX | VWLUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 2.73 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.28 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.60 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.99 | +0.02 |
Drawdowns
VNYTX vs. VWLUX - Drawdown Comparison
The maximum VNYTX drawdown since its inception was -21.73%, which is greater than VWLUX's maximum drawdown of -15.94%. Use the drawdown chart below to compare losses from any high point for VNYTX and VWLUX.
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Drawdown Indicators
| VNYTX | VWLUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.73% | -15.94% | -5.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -3.09% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -7.11% | -6.90% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | -15.94% | -0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -16.67% | -15.94% | -0.73% |
Current DrawdownCurrent decline from peak | -0.24% | -0.32% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -2.08% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.86% | +0.02% |
Volatility
VNYTX vs. VWLUX - Volatility Comparison
Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) and Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) have volatilities of 1.26% and 1.26%, 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
| VNYTX | VWLUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.26% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 2.31% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 3.09% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 4.60% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.61% | 4.51% | +0.10% |
VNYTX vs. VWLUX - Expense Ratio Comparison
VNYTX has a 0.17% expense ratio, which is higher than VWLUX's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VNYTX vs. VWLUX - Dividend Comparison
VNYTX's dividend yield for the trailing twelve months is around 3.65%, less than VWLUX's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 3.65% | 4.44% | 3.93% | 2.85% | 2.86% | 2.75% | 3.43% | 3.52% | 3.44% | 3.64% | 3.82% | 3.36% |
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | 3.77% | 4.61% | 4.08% | 3.17% | 3.00% | 2.70% | 3.32% | 3.91% | 3.58% | 3.80% | 4.09% | 3.87% |
Frequently Asked Questions
With a correlation of 0.91, VNYTX and VWLUX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VWLUX has higher volatility (1.26%) compared to VNYTX (1.26%). In terms of maximum drawdown, VNYTX dropped -21.73% vs VWLUX's -15.94%.
VNYTX currently has the higher Sharpe Ratio (2.74 vs 2.73), 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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