PortfoliosLab logo
PortfoliosLab logo
Tools
Performance Analysis
Portfolio Analysis
Factor Model
Portfolios
Lazy PortfoliosUser Portfolios
Discussions
FNJHX vs. FTABX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

FNJHX vs. FTABX - Performance Comparison

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

130.00%140.00%150.00%160.00%JuneJulyAugustSeptemberOctoberNovember
136.41%
159.82%
FNJHX
FTABX

Returns By Period

In the year-to-date period, FNJHX achieves a 1.75% return, which is significantly lower than FTABX's 2.16% return. Both investments have delivered pretty close results over the past 10 years, with FNJHX having a 2.45% annualized return and FTABX not far ahead at 2.46%.


FNJHX

YTD

1.75%

1M

-0.52%

6M

2.30%

1Y

6.92%

5Y (annualized)

1.30%

10Y (annualized)

2.45%

FTABX

YTD

2.16%

1M

-0.64%

6M

2.18%

1Y

7.25%

5Y (annualized)

1.25%

10Y (annualized)

2.46%

Key characteristics


FNJHXFTABX
Sharpe Ratio1.921.88
Sortino Ratio2.972.79
Omega Ratio1.451.44
Calmar Ratio0.910.83
Martin Ratio6.817.54
Ulcer Index0.95%0.90%
Daily Std Dev3.35%3.58%
Max Drawdown-14.65%-15.78%
Current Drawdown-1.44%-2.24%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


FNJHX vs. FTABX - Expense Ratio Comparison

FNJHX has a 0.47% expense ratio, which is higher than FTABX's 0.25% expense ratio.


FNJHX
Fidelity New Jersey Municipal Income Fund
Expense ratio chart for FNJHX: current value at 0.47% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.47%
Expense ratio chart for FTABX: current value at 0.25% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.25%

Correlation

-0.50.00.51.00.9

The correlation between FNJHX and FTABX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Risk-Adjusted Performance

FNJHX vs. FTABX - Risk-Adjusted Performance Comparison

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


Sharpe ratio
The chart of Sharpe ratio for FNJHX, currently valued at 1.92, compared to the broader market0.002.004.001.921.88
The chart of Sortino ratio for FNJHX, currently valued at 2.97, compared to the broader market0.005.0010.002.972.79
The chart of Omega ratio for FNJHX, currently valued at 1.45, compared to the broader market1.002.003.004.001.451.44
The chart of Calmar ratio for FNJHX, currently valued at 0.91, compared to the broader market0.005.0010.0015.0020.0025.000.910.83
The chart of Martin ratio for FNJHX, currently valued at 6.81, compared to the broader market0.0020.0040.0060.0080.00100.006.817.54
FNJHX
FTABX

The current FNJHX Sharpe Ratio is 1.92, which is comparable to the FTABX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FNJHX and FTABX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio1.001.502.002.503.003.50JuneJulyAugustSeptemberOctoberNovember
1.92
1.88
FNJHX
FTABX

Dividends

FNJHX vs. FTABX - Dividend Comparison

FNJHX's dividend yield for the trailing twelve months is around 2.89%, less than FTABX's 3.00% yield.


TTM20232022202120202019201820172016201520142013
FNJHX
Fidelity New Jersey Municipal Income Fund
2.89%2.67%2.38%1.95%2.36%2.70%2.93%2.93%3.11%3.33%3.27%4.02%
FTABX
Fidelity Tax-Free Bond Fund
3.00%2.90%2.85%2.40%2.60%2.84%3.02%3.07%3.37%3.58%3.62%3.86%

Drawdowns

FNJHX vs. FTABX - Drawdown Comparison

The maximum FNJHX drawdown since its inception was -14.65%, smaller than the maximum FTABX drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for FNJHX and FTABX. For additional features, visit the drawdowns tool.


-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-1.44%
-2.24%
FNJHX
FTABX

Volatility

FNJHX vs. FTABX - Volatility Comparison

The current volatility for Fidelity New Jersey Municipal Income Fund (FNJHX) is 1.60%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 1.84%. This indicates that FNJHX experiences smaller price fluctuations and is considered to be less risky than FTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%JuneJulyAugustSeptemberOctoberNovember
1.60%
1.84%
FNJHX
FTABX