The route I took was to keep an account open at Vanguard and buy/hold VNYUX admiral fund for an even lower ER.Is this the route you took? If so, what did you pay to purchase VNYTX? I was just looking at my own VNYTX purchases at Fidelity and i see commissions of $100! That's a lot, especially if you want to buy in periodically throughout the year.So I believe I am choosing between VNYTX + $25 purchase fee at Fidelity
I do keep money in another brokerage elsewhere, but it's hard to beat Vanguard Admiral muni bond funds for single state munis.
I do wish there was an ETF sister for this fund, as I prefer ETFs (all my other funds are ETFs). But not willing to give up yield in the form of much higher ER just to get an ETF. I pay 9 bps vs 25 on NYF vs 35 for GMNY. Fees matter. NYF is the safest portfolio of the 3. Vanguard is the best balance of reasonably safe at rock bottom fees vs GMNY which is risky holdings with higher ER, bad combination. I trust Vanguard's portfolio managers to take reasonable risks to get yield, more than at Goldman Sachs (based on my experience working in fund management industry and having had interface with people at Goldman, Vanguard and working at some top muni bond management firms).
So in summary, for safest go with NYF shares fund. For best balance of yield vs reasonable safety, Vanguard.
For highest yield regardless of all other considerations (max risk and higher fees OK with you) maybe GMNY is an option, but not for me.
Statistics: Posted by beyou — Tue Dec 24, 2024 1:43 pm — Replies 24 — Views 2484