VNYUX vs. PNYIX
VNYUX (Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares) and PNYIX (PIMCO New York Municipal Fund) are both Municipal Bonds funds. Over the past 10 years, VNYUX returned 2.25%/yr vs 2.22%/yr for PNYIX. Their correlation of 0.83 means they have usually moved in the same direction. VNYUX charges 0.09%/yr vs 0.46%/yr for PNYIX.
Performance
VNYUX vs. PNYIX - Performance Comparison
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Returns By Period
In the year-to-date period, VNYUX achieves a 0.58% return, which is significantly lower than PNYIX's 0.79% return. Both investments have delivered pretty close results over the past 10 years, with VNYUX having a 2.25% annualized return and PNYIX not far behind at 2.22%.
VNYUX
- 1D
- -0.19%
- 1M
- -2.37%
- 6M
- -0.09%
- YTD
- 0.58%
- 1Y
- 6.18%
- 3Y*
- 4.01%
- 5Y*
- 0.76%
- 10Y*
- 2.25%
- ALL TIME*
- 3.73%
PNYIX
- 1D
- -0.09%
- 1M
- -1.85%
- 6M
- 0.01%
- YTD
- 0.79%
- 1Y
- 5.56%
- 3Y*
- 3.95%
- 5Y*
- 0.91%
- 10Y*
- 2.22%
- ALL TIME*
- 4.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VNYUX vs. PNYIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNYUX Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares | 0.58% | 4.79% | 2.58% | 8.05% | -10.92% | 2.09% | 5.60% | 8.71% | 0.59% | 5.89% |
PNYIX PIMCO New York Municipal Fund | 0.79% | 4.16% | 2.89% | 8.13% | -10.19% | 2.46% | 4.73% | 7.78% | 1.00% | 5.79% |
Correlation
The correlation between VNYUX and PNYIX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since May 14, 2001 | 0.83 |
The correlation between VNYUX and PNYIX shifts across timeframes, from 0.83 (all time) to 0.93 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VNYUX vs. PNYIX — Risk / Return Rank
VNYUX
PNYIX
VNYUX vs. PNYIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX) and PIMCO New York Municipal Fund (PNYIX). 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.
| VNYUX | PNYIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.50 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 2.47 | -0.32 |
| Martin ratioReturn relative to average drawdown | 7.12 | 8.03 | -0.91 |
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Drawdowns
VNYUX vs. PNYIX - Drawdown Comparison
The maximum VNYUX drawdown since its inception was -16.59%, which is greater than PNYIX's maximum drawdown of -15.33%. Use the drawdown chart below to compare losses from any high point for VNYUX and PNYIX.
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Drawdown Indicators
| VNYUX | PNYIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.59% | -15.33% | -1.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -2.39% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -4.92% | -1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -16.59% | -15.25% | -1.34% |
Max Drawdown (10Y)Largest decline over 10 years | -16.59% | -15.33% | -1.26% |
Current DrawdownCurrent decline from peak | -2.37% | -1.85% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -1.68% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.73% | +0.20% |
Volatility
VNYUX vs. PNYIX - Volatility Comparison
Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX) has a higher volatility of 1.02% compared to PIMCO New York Municipal Fund (PNYIX) at 0.79%. This indicates that VNYUX's price experiences larger fluctuations and is considered to be riskier than PNYIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNYUX | PNYIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.79% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 2.11% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 2.78% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.80% | 4.14% | +0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.61% | 3.90% | +0.71% |
VNYUX vs. PNYIX - Expense Ratio Comparison
VNYUX has a 0.09% expense ratio, which is lower than PNYIX's 0.46% expense ratio.
Dividends
VNYUX vs. PNYIX - Dividend Comparison
VNYUX's dividend yield for the trailing twelve months is around 3.48%, more than PNYIX's 3.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNYIX PIMCO New York Municipal Fund | 3.43% | 4.77% | 4.24% | 3.49% | 2.00% | 1.92% | 2.01% | 2.84% | 3.33% | 3.27% | 3.44% | 3.65% |
VNYUX Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares | 3.48% | 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
With a correlation of 0.91, VNYUX and PNYIX 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.
VNYUX has higher volatility (1.02%) compared to PNYIX (0.79%). In terms of maximum drawdown, VNYUX dropped -16.59% vs PNYIX's -15.33%.
PNYIX currently has the higher Sharpe Ratio (2.17 vs 2.01), 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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