FNJHX vs. FNDSX

Last updated Jun 5, 2026

FNJHX (Fidelity New Jersey Municipal Income Fund) and FNDSX (Fidelity Sustainability Bond Index Fund) are both mutual funds - FNJHX is a Municipal Bonds fund managed by Fidelity, while FNDSX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, FNJHX returned 1.24%/yr vs -0.10%/yr for FNDSX. A 0.52 correlation means they provide meaningful diversification when combined. FNJHX charges 0.47%/yr vs 0.10%/yr for FNDSX.

Performance

FNJHX vs. FNDSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity New Jersey Municipal Income Fund (FNJHX) and Fidelity Sustainability Bond Index Fund (FNDSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNJHX achieves a 1.32% return, which is significantly higher than FNDSX's 0.21% return.

FNJHX

• 1D: -0.09%
• 1M: 0.42%
• YTD: 1.32%
• 6M: 1.75%
• 1Y: 7.26%
• 3Y*: 4.37%
• 5Y*: 1.24%
• 10Y*: 2.66%

FNDSX

• 1D: -0.22%
• 1M: 0.12%
• YTD: 0.21%
• 6M: 0.31%
• 1Y: 4.34%
• 3Y*: 3.84%
• 5Y*: -0.10%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FNJHX vs. FNDSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNJHX Fidelity New Jersey Municipal Income Fund	1.32%	5.61%	1.23%	8.08%	-9.75%	2.04%	5.13%	8.67%	2.12%
FNDSX Fidelity Sustainability Bond Index Fund	0.21%	7.03%	1.23%	5.44%	-13.34%	-2.22%	6.95%	8.30%	1.89%

Correlation

The correlation between FNJHX and FNDSX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jun 20, 2018	0.52

The correlation between FNJHX and FNDSX shifts across timeframes, from 0.52 (all time) to 0.65 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FNJHX vs. FNDSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FNJHX

FNJHX Risk / Return Rank: 70
FNJHX Sharpe Ratio Rank: 88
FNJHX Sortino Ratio Rank: 89
FNJHX Omega Ratio Rank: 93
FNJHX Calmar Ratio Rank: 41
FNJHX Martin Ratio Rank: 39

FNDSX

FNDSX Risk / Return Rank: 20
FNDSX Sharpe Ratio Rank: 20
FNDSX Sortino Ratio Rank: 21
FNDSX Omega Ratio Rank: 19
FNDSX Calmar Ratio Rank: 22
FNDSX Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FNJHX vs. FNDSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity New Jersey Municipal Income Fund (FNJHX) and Fidelity Sustainability Bond Index Fund (FNDSX). 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.

	FNJHX	FNDSX	Difference
Sharpe ratio: Return per unit of total volatility	2.88	1.27	+1.61
Sortino ratio: Return per unit of downside risk	4.35	1.91	+2.43
Omega ratio: Gain probability vs. loss probability	1.73	1.23	+0.50
Calmar ratio: Return relative to maximum drawdown	2.41	1.72	+0.70
Martin ratio: Return relative to average drawdown	8.41	5.13	+3.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNJHX vs. FNDSX - Sharpe Ratio Comparison

The current FNJHX Sharpe Ratio is 2.88, which is higher than the FNDSX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of FNJHX and FNDSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNJHX	FNDSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	1.27	+1.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	-0.02	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.32	+0.97

Drawdowns

FNJHX vs. FNDSX - Drawdown Comparison

The maximum FNJHX drawdown since its inception was -14.74%, smaller than the maximum FNDSX drawdown of -19.72%. Use the drawdown chart below to compare losses from any high point for FNJHX and FNDSX.

Drawdown Indicators

	FNJHX	FNDSX	Difference
Max Drawdown Largest peak-to-trough decline	-14.74%	-19.72%	+4.98%
Max Drawdown (1Y) Largest decline over 1 year	-3.10%	-2.94%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	-5.42%	-6.11%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	-14.74%	-18.30%	+3.56%
Max Drawdown (10Y) Largest decline over 10 years	-14.74%	—	—
Current Drawdown Current decline from peak	-0.84%	-3.95%	+3.11%
Average Drawdown Average peak-to-trough decline	-1.77%	-6.49%	+4.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.98%	-0.09%

Volatility

FNJHX vs. FNDSX - Volatility Comparison

The current volatility for Fidelity New Jersey Municipal Income Fund (FNJHX) is 1.09%, while Fidelity Sustainability Bond Index Fund (FNDSX) has a volatility of 1.28%. This indicates that FNJHX experiences smaller price fluctuations and is considered to be less risky than FNDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNJHX	FNDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	1.28%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	2.08%	2.79%	-0.71%
Volatility (1Y) Calculated over the trailing 1-year period	2.60%	3.97%	-1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.94%	6.01%	-2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.09%	5.31%	-1.22%

FNJHX vs. FNDSX - Expense Ratio Comparison

FNJHX has a 0.47% expense ratio, which is higher than FNDSX's 0.10% expense ratio.

Dividends

FNJHX vs. FNDSX - Dividend Comparison

FNJHX's dividend yield for the trailing twelve months is around 2.98%, less than FNDSX's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDSX Fidelity Sustainability Bond Index Fund	3.96%	3.84%	3.53%	2.84%	1.55%	1.17%	1.79%	3.17%	1.56%	0.00%	0.00%	0.00%
FNJHX Fidelity New Jersey Municipal Income Fund	2.98%	3.66%	2.69%	2.67%	1.78%	2.11%	2.60%	3.45%	2.96%	3.47%	4.18%	3.19%

Frequently Asked Questions

Can I hold both FNJHX and FNDSX in my portfolio?

FNJHX and FNDSX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNJHX or FNDSX?

FNDSX has higher volatility (1.28%) compared to FNJHX (1.09%). In terms of maximum drawdown, FNJHX dropped -14.74% vs FNDSX's -19.72%.

Which has better risk-adjusted returns?

FNJHX currently has the higher Sharpe Ratio (2.88 vs 1.27), 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.