14 important things you should know about Invesco VNYAX mutual fund

Updated: Last Tuesday
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Before we start: if you’re looking for VNYAX “stock” price, you can quickly find it out by visiting Finny and typing "VNYAX quote". If you’re looking for a quick scoop on VNYAX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "VNYAX". You’ll get all this info in one place.

Are you looking to buy or sell VNYAX? Or perhaps you’re looking for VNYAX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this VNYAX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: VNYAX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: VNYAX buy or sell; the pros and cons of investing in VNYAX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to VNYAX.

And here is the list of questions we’ll answer:

  1. Describe AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds): Invesco New York Tax Free Income Fund; Class A Shares (VNYAX).
  2. What are VNYAX holdings?
  3. What is VNYAX performance? What are VNYAX historical returns?
  4. How many up and down years did VNYAX have historically?
  5. What is VNYAX dividend yield?
  6. What is VNYAX minimum initial investment amount?
  7. What is VNYAX expense ratio?
  8. Does VNYAX have any sales loads or 12b-1 distribution expenses?
  9. What is VNYAX tax efficiency (tax-cost ratio)?
  10. What is VNYAX beta? How would you assess VNYAX risk?
  11. What is VNYAX Sharpe ratio?
  12. What is VNYAX Finny Score? VNYAX buy or sell?
  13. What are the pros of investing in VNYAX? What are VNYAX buy reasons?
  14. What are the cons of investing in VNYAX? What are VNYAX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds): Invesco New York Tax Free Income Fund; Class A Shares (VNYAX).

The Fund seeks to provide investors with a high level of current income exempt from federal, New York State and New York City income taxes, consistent with preservation of capital. The Fund invests, under normal circumstances, at least 80% of its net assets in New York municipal securities at the time of investment.

2. What are VNYAX top holdings?

VNYAX has 0 stock holdings and 168 bond holdings.

The top 9 holdings represent 16.10% of total assets. Here are the top holdings:

Name Symbol % Assets
BROOKLYN ARENA LOC DEV CORP N Y PILOT REV 5% N/A 3.17%
MTA HUDSON RAIL YARDS TR OBLIGS REV 5% N/A 3.05%
PORT AUTH N Y & N J 5.25% N/A 2.20%
NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 5.25% N/A 1.60%
BROOKLYN ARENA LOC DEV CORP N Y PILOT REV 0% N/A 1.33%
NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 4% N/A 1.32%
METROPOLITAN TRANSN AUTH N Y REV 0% N/A 1.18%
NEW YORK TRANSN DEV CORP SPL FAC REV 5% N/A 1.14%
NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 5.25% N/A 1.11%

3. What is VNYAX performance? What are VNYAX historical returns?

VNYAX has generated the following returns:

  • 1-month return is -0.38%;
  • 3-month return is -5.73%;
  • 1-year return is -1.23%;
  • 3-year return is 1.85%;
  • 5-year return is 2.10%;
  • 10-year return is 3.45%;
  • 15-year return is 3.42%.

4. How many up and down years did VNYAX have historically?

In the last 10 years, VNYAX had 8 up years and 2 down years.

5. What is VNYAX dividend yield?

VNYAX yield is 3.4%.

6. What is VNYAX minimum initial investment amount?

VNYAX minimum initial investment amount is $1.00K.

7. What is VNYAX expense ratio?

VNYAX expense ratio is 1.21%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

8. Does VNYAX have any sales loads or 12b-1 distribution expenses?

VNYAX 12b-1 distribution fee is 0.25. VNYAX front-end sales load is 4.25. VNYAX back-end sales load is 0.

9. What is VNYAX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 0%;
  • 3-year ax cost ratio is 0%.

10. What is VNYAX beta? How would you assess VNYAX risk?

  • 3-year beta is 1.23;
  • 5-year beta is 1.16;
  • 10-year beta is 1.20;
  • 15-year beta is 1.22.

11. What is VNYAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.24;
  • 5-year Sharpe ratio is 0.29;
  • 10-year Sharpe ratio is 0.72;
  • 15-year Sharpe ratio is 0.39.

Analysis

12. What is VNYAX Finny Score? VNYAX buy or sell?

VNYAX Finny Score is 0. Our quantitative analysis shows 0 reasons to buy VNYAX and 11 reasons to sell it, resulting in the Finny Score of 0.

13. What are the pros of investing in VNYAX? What are VNYAX buy reasons?

We don't see any strong reasons to buy VNYAX.

14. What are the cons of investing in VNYAX? What are VNYAX negatives?

The following are VNYAX weaknesses from our perspective:

  • VNYAX net assets are $140.00 million. This fund is not a popular choice with retail investors.
  • VNYAX 3-year return is 1.85%, which is lower than the 3-year return of the benchmark index (S&P Municipal Bond TR), 3.54%.
  • VNYAX 5-year return is 2.1%, which is lower than the 5-year return of the benchmark index (S&P Municipal Bond TR), 3.36%.
  • VNYAX 10-year return is 3.45%, which is lower than the 10-year return of the benchmark index (S&P Municipal Bond TR), 4.08%.
  • VNYAX 15-year return is 3.42%, which is lower than the 15-year return of the benchmark index (S&P Municipal Bond TR), 4.18%.
  • Warning: this fund has a 12b1 and front-end sales fee. The maximum 12b1 fee is 0.25%, while the maximum front-end sales load is 4.25%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Front-end sales load, also known as sales charge, is a fee paid when mutual funds shares are purchased. Those fees are subtracted from your total investable assets.
  • VNYAX expense ratio is 1.21%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • VNYAX 3-year Beta is 1.23, which is higher than the index (BBgBarc Municipal TR USD) 3-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 3 years.
  • VNYAX 5-year Beta is 1.16, which is higher than the index (BBgBarc Municipal TR USD) 5-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 5 years.
  • VNYAX 10-year Beta is 1.2, which is higher than the index (BBgBarc Municipal TR USD) 10-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 10 years.
  • VNYAX 15-year Beta is 1.22, which is higher than the index (BBgBarc Municipal TR USD) 15-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 15 years.
In the VNYAX review, we covered VNYAX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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