Vanguard New York Tax-Exempt Bond Fund

The Vanguard New York Tax-Exempt Bond ETF is an index fund designed primarily for tax-sensitive residents of New York. Its primary function is to track the performance of a benchmark index that measures the investment-grade segment of New York municipal bonds, providing income exempt from both federal and New York state income taxes. This fund invests mainly in high-quality municipal bonds issued by New York state and local governments. It offers a low-cost and highly diversified option for investors seeking to tap into the municipal bond market, catering to those preferring passive management. The fund plays a significant role in the financial market by providing investors with a tax-efficient way to invest in local infrastructure and government projects.