FNJHX vs. FTABX
Compare and contrast key facts about Fidelity New Jersey Municipal Income Fund (FNJHX) and Fidelity Tax-Free Bond Fund (FTABX).
FNJHX is managed by Fidelity. It was launched on Jan 1, 1988. FTABX is managed by Fidelity. It was launched on Apr 10, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FNJHX or FTABX.
Key characteristics
| FNJHX | FTABX | |
|---|---|---|
| YTD Return | 0.96% | 1.32% |
| 1Y Return | 7.14% | 7.60% |
| 3Y Return (Ann) | -0.37% | -0.68% |
| 5Y Return (Ann) | 1.21% | 1.15% |
| 10Y Return (Ann) | 2.36% | 2.37% |
| Sharpe Ratio | 2.13 | 2.08 |
| Sortino Ratio | 3.28 | 3.08 |
| Omega Ratio | 1.50 | 1.49 |
| Calmar Ratio | 0.89 | 0.81 |
| Martin Ratio | 7.80 | 8.66 |
| Ulcer Index | 0.92% | 0.87% |
| Daily Std Dev | 3.36% | 3.60% |
| Max Drawdown | -14.65% | -15.78% |
| Current Drawdown | -2.21% | -3.04% |
Correlation
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.
Performance
FNJHX vs. FTABX - Performance Comparison
In the year-to-date period, FNJHX achieves a 0.96% return, which is significantly lower than FTABX's 1.32% return. Both investments have delivered pretty close results over the past 10 years, with FNJHX having a 2.36% annualized return and FTABX not far ahead at 2.37%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FNJHX vs. FTABX - Expense Ratio Comparison
FNJHX has a 0.47% expense ratio, which is higher than FTABX's 0.25% expense ratio.
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.
Dividends
FNJHX vs. FTABX - Dividend Comparison
FNJHX's dividend yield for the trailing twelve months is around 2.92%, less than FTABX's 3.03% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNJHX Fidelity New Jersey Municipal Income Fund | 2.92% | 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 | 3.03% | 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.
Volatility
FNJHX vs. FTABX - Volatility Comparison
The current volatility for Fidelity New Jersey Municipal Income Fund (FNJHX) is 1.42%, while Fidelity Tax-Free Bond Fund (FTABX) has a volatility of 1.68%. 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.