Vanguard New York Tax-Exempt Bond ETF

Vanguard New York Tax-Exempt Bond ETF is an exchange-traded fund focused on investment-grade municipal bonds issued in New York. The fund is designed to track the S&P New York AMT-Free Municipal USD10 Million Par Bond Index, giving investors access to a diversified portfolio of state and local government obligations that generally provide income exempt from U.S. federal income taxes and, for New York residents, state income taxes. The ETF uses an index-based approach and representative sampling to mirror the characteristics of its benchmark while maintaining broad exposure across the New York municipal bond market. It serves as a fixed-income vehicle for investors seeking tax-advantaged exposure to public-purpose issuers such as state authorities, cities, and local agencies. Vanguard New York Tax-Exempt Bond ETF is part of Vanguard’s municipal bond lineup and plays a specialized role in the tax-exempt bond market for New York residents.