Vanguard NewYorkTax-Exempt Funds

• For the 12 months ended November 30, 2020,Vanguard NewYork Long-Term Tax-Exempt Fund returned 4.73% for Investor Shares and 4.82% for Admiral Shares. These results outpaced the 3.97% return of its benchmark index, which includes state-and municipal-issued bonds across the maturity spectrum. ................
................