VWLUX vs. VNYTX
VWLUX (Vanguard Long-Term Tax-Exempt Fund Admiral Shares) and VNYTX (Vanguard New York Long-Term Tax-Exempt Fund Investor Shares) are both Municipal Bonds funds from Vanguard. Over the past 10 years, VWLUX returned 2.42%/yr vs 2.17%/yr for VNYTX. Their correlation of 0.92 means they have usually moved in the same direction. VWLUX charges 0.09%/yr vs 0.17%/yr for VNYTX.
Performance
VWLUX vs. VNYTX - Performance Comparison
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Returns By Period
In the year-to-date period, VWLUX achieves a 0.42% return, which is significantly lower than VNYTX's 0.56% return. Over the past 10 years, VWLUX has outperformed VNYTX with an annualized return of 2.42%, while VNYTX has yielded a comparatively lower 2.17% annualized return.
VWLUX
- 1D
- 0.00%
- 1M
- -2.29%
- 6M
- -0.35%
- YTD
- 0.42%
- 1Y
- 5.74%
- 3Y*
- 4.37%
- 5Y*
- 0.79%
- 10Y*
- 2.42%
- ALL TIME*
- 3.81%
VNYTX
- 1D
- 0.00%
- 1M
- -2.37%
- 6M
- -0.11%
- YTD
- 0.56%
- 1Y
- 6.03%
- 3Y*
- 4.31%
- 5Y*
- 0.69%
- 10Y*
- 2.17%
- ALL TIME*
- 4.32%
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 |
VWLUX vs. VNYTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | 0.42% | 4.90% | 2.54% | 7.65% | -10.35% | 1.89% | 6.29% | 8.87% | 0.99% | 6.56% |
VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 0.56% | 4.72% | 2.49% | 8.00% | -11.00% | 2.01% | 5.52% | 8.61% | 0.51% | 5.79% |
Correlation
The correlation between VWLUX and VNYTX 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. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2001 | 0.92 |
The correlation between VWLUX and VNYTX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
VWLUX vs. VNYTX — Risk / Return Rank
VWLUX
VNYTX
VWLUX vs. VNYTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) and Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX). 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.
| VWLUX | VNYTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.42 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 2.00 | -0.10 |
| Martin ratioReturn relative to average drawdown | 6.36 | 6.53 | -0.17 |
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Drawdowns
VWLUX vs. VNYTX - Drawdown Comparison
The maximum VWLUX drawdown since its inception was -15.94%, smaller than the maximum VNYTX drawdown of -21.73%. Use the drawdown chart below to compare losses from any high point for VWLUX and VNYTX.
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Drawdown Indicators
| VWLUX | VNYTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -21.73% | +5.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -3.08% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -5.76% | -6.14% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -15.81% | -16.54% | +0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | -16.67% | +0.73% |
Current DrawdownCurrent decline from peak | -2.29% | -2.37% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -2.50% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.94% | -0.02% |
Volatility
VWLUX vs. VNYTX - Volatility Comparison
Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) and Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) have volatilities of 1.00% and 1.01%, 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
| VWLUX | VNYTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.01% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.51% | 2.62% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 3.27% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.63% | 4.80% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.52% | 4.61% | -0.09% |
VWLUX vs. VNYTX - Expense Ratio Comparison
VWLUX has a 0.09% expense ratio, which is lower than VNYTX's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VWLUX vs. VNYTX - Dividend Comparison
VWLUX's dividend yield for the trailing twelve months is around 3.54%, more than VNYTX's 3.43% 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 | 3.43% | 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 | 3.54% | 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, VWLUX and VNYTX 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.
VNYTX has higher volatility (1.01%) compared to VWLUX (1.00%). In terms of maximum drawdown, VWLUX dropped -15.94% vs VNYTX's -21.73%.
VWLUX currently has the higher Sharpe Ratio (1.89 vs 1.89), 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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