Vanguard New York Long-Term Tax-Exempt Fund Investor Shares
VNYTX
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USD
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Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- PO Box 2600 Valley Forge PA United States of America 19482
- IPO Date
- Apr 7, 1986
- CIK
- 0000788599
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard New York Long-Term Tax-Exempt Fund Investor Shares (VNYTX) is a mutual fund that seeks to provide current income exempt from both federal and New York state personal income taxes by investing primarily in high-quality, long-term municipal bonds issued by New York state and local governments, regional governmental authorities, and public financing entities; at least 80% of its assets are invested in such tax-exempt securities, including general obligation bonds, revenue bonds from sectors such as higher education, hospitals, housing, water and sewer systems, energy finance, infrastructure, and transportation authorities like the Triborough Bridge and Tunnel Authority; the portfolio maintains a dollar-weighted average maturity of 10 to 25 years, effective duration of approximately 8.25 years, and broad diversification with no single position exceeding 2% of assets and a high-quality bias featuring 73% in AA-rated or higher bonds as of December 2024. The fund, part of The Vanguard Group, Inc.'s suite of state-specific tax-exempt offerings, targets individual and institutional investors in New York seeking tax-efficient fixed-income exposure; it operates within the municipal New York long-term category, with total assets under management of approximately $5.6 billion, a low expense ratio of 0.17%, and a trailing twelve-month yield of 3.53% as of December 2025; geographic focus remains on New York issuers (98% of assets), with minor exposure to Puerto Rico bonds (1%) for additional tax-exempt income. Established in April 1986 and headquartered in Malvern, Pennsylvania, the fund is managed by The Vanguard Group, Inc., a client-owned investment adviser founded in 1975 with over $11 trillion in global assets under management as of January 2025; lead portfolio manager Adam Ferguson has overseen the strategy since June 2013, supported by comanager Stephen McFee since late 2020 and a collaborative team of 22 analysts, 12 traders, and sector specialists under municipal team leader Paul Malloy. Recent developments include Vanguard's launch of a Vanguard New York Tax-Exempt Bond ETF in early 2025, expanding access to New York municipal bond strategies with low-cost, index-tracking exposure to the investment-grade segment of the New York muni market; the firm implemented its largest fee cuts in early 2025, costing an estimated $350 million, while introducing approximately a dozen new low-cost bond ETFs for U.S. and international investors through June 2025, aligning with its conservative, client-focused philosophy; leadership changes at Vanguard encompass Natalie Lamarque's appointment as Chief Legal Officer and Secretary effective September 2025, John Bendl as Finance Director and Matt Piro as Manager Oversight Officer in July 2025, and refinements to investment committee structures in August 2025 to enhance oversight of fund advisors and proxy voting.