The average duration of VNYUX is reported to be 5.9 years and average maturity 6.4 years. Perhaps this fund is long-term in name only.
For comparison, VCAIX (California intermediate-term) has 5.5 and 4.9 for those numbers, while
Intermed tax-exempt VWIUX has 5.5 and 4.9 as well, with
Vanguard intermediate-term VBILX has 7.3 and 6.5.
What do you see about the NY fund that worries you?
This information has been prepared without taking into account the Sequestration, investment objectives, financial situation and particular needs of any particular person or company.