MUNY

📎 Investment Objective

The Vanguard New York Tax-Exempt Bond ETF seeks to track the performance of a market-weighted New York municipal bond index, providing exposure to investment-grade municipal bonds issued in the state of New York.

✨ Key Features

• Exposure to investment-grade municipal bonds issued in the state of New York
• Seeks to track the performance of a market-weighted New York municipal bond index
• Designed to provide tax-exempt income for New York state residents
• Low expense ratio of 0.00%

⚠️ Primary Risks

• Interest rate risk: The value of the fund's holdings may decline if interest rates rise
• Credit risk: The fund is exposed to the risk of default or downgrade of the municipal bonds it holds
• Concentration risk: As a single-state municipal bond fund, it is subject to greater concentration risk compared to a nationwide municipal bond fund
• Liquidity risk: The municipal bond market may experience periods of low liquidity, which could affect the fund's ability to sell its holdings

👤 Best For

The Vanguard New York Tax-Exempt Bond ETF is best suited for New York state residents seeking tax-exempt income and exposure to the New York municipal bond market. Investors with a long-term investment horizon and a moderate risk tolerance may find this fund appropriate as a core fixed-income allocation in their portfolio.