APUSX vs. MUJ
APUSX (Cavanal Hill Ultra Short Tax-Free Income Fund) and MUJ (BlackRock MuniHoldings New Jersey Quality Fund) are both Municipal Bonds funds. Over the past 5 years, APUSX returned 2.10%/yr vs -0.26%/yr for MUJ. Their 0.13 correlation means their historical movements had little consistent relationship. APUSX charges 0.60%/yr vs 2.26%/yr for MUJ.
Performance
APUSX vs. MUJ - Performance Comparison
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Returns By Period
In the year-to-date period, APUSX achieves a 0.90% return, which is significantly lower than MUJ's 3.83% return.
APUSX
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.76%
- YTD
- 0.90%
- 1Y
- 2.01%
- 3Y*
- 3.19%
- 5Y*
- 2.10%
- 10Y*
- —
- ALL TIME*
- 1.60%
MUJ
- 1D
- 0.08%
- 1M
- -2.57%
- 6M
- 0.09%
- YTD
- 3.83%
- 1Y
- 16.02%
- 3Y*
- 8.32%
- 5Y*
- -0.26%
- 10Y*
- 2.09%
- ALL TIME*
- 4.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $969.39K | $870.71K | $1.11M |
APUSX vs. MUJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
APUSX Cavanal Hill Ultra Short Tax-Free Income Fund | 0.90% | 3.88% | 3.65% | 2.63% | -0.18% | -0.40% | 0.15% |
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 3.83% | 13.86% | 2.28% | 7.55% | -26.31% | 15.20% | 5.95% |
Correlation
The correlation between APUSX and MUJ is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020 | 0.13 |
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Return for Risk
APUSX vs. MUJ — Risk / Return Rank
APUSX
MUJ
APUSX vs. MUJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX) and BlackRock MuniHoldings New Jersey Quality Fund (MUJ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| APUSX | MUJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.36 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | 1.71 | -1.52 |
| Martin ratioReturn relative to average drawdown | 3.08 | 6.89 | -3.81 |
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Drawdowns
APUSX vs. MUJ - Drawdown Comparison
The maximum APUSX drawdown since its inception was -10.36%, smaller than the maximum MUJ drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for APUSX and MUJ.
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Drawdown Indicators
| APUSX | MUJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.36% | -41.72% | +31.36% |
Max Drawdown (1Y)Largest decline over 1 year | -10.36% | -9.41% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -10.36% | -11.04% | +0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -10.36% | -32.71% | +22.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.71% | — |
Current DrawdownCurrent decline from peak | -0.10% | -4.21% | +4.11% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -9.00% | +8.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.33% | -1.68% |
Volatility
APUSX vs. MUJ - Volatility Comparison
The current volatility for Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX) is 0.10%, while BlackRock MuniHoldings New Jersey Quality Fund (MUJ) has a volatility of 1.60%. This indicates that APUSX experiences smaller price fluctuations and is considered to be less risky than MUJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APUSX | MUJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 1.60% | -1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 15.66% | 6.86% | +8.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.75% | 8.76% | +6.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 10.33% | -3.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 11.12% | -4.89% |
APUSX vs. MUJ - Expense Ratio Comparison
APUSX has a 0.60% expense ratio, which is lower than MUJ's 2.26% expense ratio.
Dividends
APUSX vs. MUJ - Dividend Comparison
APUSX's dividend yield for the trailing twelve months is around 2.19%, less than MUJ's 5.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APUSX Cavanal Hill Ultra Short Tax-Free Income Fund | 2.19% | 3.69% | 3.68% | 1.69% | 0.33% | 0.00% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 5.41% | 5.45% | 5.53% | 4.13% | 6.40% | 4.77% | 4.78% | 4.03% | 5.34% | 5.55% | 6.00% | 5.69% |
Frequently Asked Questions
APUSX and MUJ have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUJ has higher volatility (1.60%) compared to APUSX (0.10%). In terms of maximum drawdown, APUSX dropped -10.36% vs MUJ's -41.72%.
MUJ currently has the higher Sharpe Ratio (1.84 vs 0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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