14 important things you should know about Invesco VNYCX mutual fund

Updated: June 30, 2020
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Before we start: if you’re looking for VNYCX “stock” price, you can quickly find it out by visiting Finny and typing "VNYCX quote". If you’re looking for a quick scoop on VNYCX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "VNYCX". You’ll get all this info in one place.

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

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

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

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 VNYCX top holdings?

VNYCX 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 VNYCX performance? What are VNYCX historical returns?

VNYCX has generated the following returns:

  • 1-month return is -0.44%;
  • 3-month return is -5.93%;
  • 1-year return is -1.98%;
  • 3-year return is 1.10%;
  • 5-year return is 1.33%;
  • 10-year return is 2.69%;
  • 15-year return is 2.65%.

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

In the last 10 years, VNYCX had 7 up years and 3 down years.

5. What is VNYCX dividend yield?

VNYCX yield is 2.67%.

6. What is VNYCX minimum initial investment amount?

VNYCX minimum initial investment amount is $1.00K.

7. What is VNYCX expense ratio?

VNYCX expense ratio is 1.95%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

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

VNYCX 12b-1 distribution fee is 0.99. VNYCX front-end sales load is 0. VNYCX back-end sales load is 1.

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

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

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

  • 3-year beta is 1.24;
  • 5-year beta is 1.16;
  • 10-year beta is 1.20;
  • 15-year beta is 1.22.

11. What is VNYCX Sharpe ratio?

  • 3-year Sharpe ratio is 0.06;
  • 5-year Sharpe ratio is 0.10;
  • 10-year Sharpe ratio is 0.55;
  • 15-year Sharpe ratio is 0.25.

Analysis

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

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

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

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

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

The following are VNYCX weaknesses from our perspective:

  • VNYCX net assets are $15.00 million. This fund is not a popular choice with retail investors.
  • VNYCX 3-year return is 1.1%, which is lower than the 3-year return of the benchmark index (S&P Municipal Bond TR), 3.54%.
  • VNYCX 5-year return is 1.33%, which is lower than the 5-year return of the benchmark index (S&P Municipal Bond TR), 3.36%.
  • VNYCX 10-year return is 2.69%, which is lower than the 10-year return of the benchmark index (S&P Municipal Bond TR), 4.08%.
  • VNYCX 15-year return is 2.65%, 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 deferred sales fee. The maximum 12b1 fee is 0.99%, while the maximum deferred sales load is 1%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Deferred sales load is a back-end sales charge and is imposed when an investor redeems shares.
  • VNYCX expense ratio is 1.95%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • VNYCX 3-year Beta is 1.24, 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.
  • VNYCX 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.
  • VNYCX 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.
  • VNYCX 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 VNYCX review, we covered VNYCX 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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