Vanguard New York Long-Term Tax-Exempt Fund Investor Shares

Frequently Asked Questions About VNYTX

What does VNYTX invest in?

The fund's primary objective is to deliver current income shielded from both federal and New York state personal income taxes. It is exclusively geared towards individuals residing in New York. Its investments primarily target high-quality municipal bonds originating from New York state and local governments, as well as regional government and public financing authorities. Under most conditions, at least 80% of the fund's assets will be invested in securities whose earnings are exempt from both federal and New York state taxes. Although there are no upper limits on the maturities of individual bonds held, the fund's dollar-weighted average maturity is projected to fall between 10 and 25 years. With an average duration of roughly 6-10 years, its net asset value is considerably more sensitive to interest rate fluctuations than that of shorter-term bond funds. Individuals seeking interest income exempt from federal and New York state taxes, who are also prepared to accept interest rate risk, may find this fund to be a compelling option.

What is the expense ratio of VNYTX?

Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) charges an expense ratio of 0.14%. This is the annual fee deducted from fund assets to cover management and operations.

What is VNYTX's dividend yield?

VNYTX's trailing-twelve-month yield is 3.87%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of VNYTX?

Effective duration measures VNYTX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. VNYTX's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of VNYTX?

VNYTX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of VNYTX?

Yield to maturity (YTM) is the total return you'd earn from VNYTX if every bond in the portfolio is held to maturity at the current price. VNYTX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.