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FNJHX vs. HYMB
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


FNJHXHYMB
YTD Return1.66%5.92%
1Y Return7.79%13.81%
3Y Return (Ann)-0.19%-0.99%
5Y Return (Ann)1.35%1.25%
10Y Return (Ann)2.43%3.03%
Sharpe Ratio2.142.30
Sortino Ratio3.313.23
Omega Ratio1.501.46
Calmar Ratio0.890.83
Martin Ratio7.8215.22
Ulcer Index0.92%0.85%
Daily Std Dev3.40%5.60%
Max Drawdown-14.65%-29.57%
Current Drawdown-1.53%-3.87%

Correlation

-0.50.00.51.00.4

The correlation between FNJHX and HYMB is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Performance

FNJHX vs. HYMB - Performance Comparison

In the year-to-date period, FNJHX achieves a 1.66% return, which is significantly lower than HYMB's 5.92% return. Over the past 10 years, FNJHX has underperformed HYMB with an annualized return of 2.43%, while HYMB has yielded a comparatively higher 3.03% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


-2.00%-1.00%0.00%1.00%2.00%3.00%4.00%5.00%JuneJulyAugustSeptemberOctoberNovember
2.03%
3.52%
FNJHX
HYMB

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FNJHX vs. HYMB - Expense Ratio Comparison

FNJHX has a 0.47% expense ratio, which is higher than HYMB's 0.35% 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 HYMB: current value at 0.35% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.35%

Risk-Adjusted Performance

FNJHX vs. HYMB - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity New Jersey Municipal Income Fund (FNJHX) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB). 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
Sharpe ratio
The chart of Sharpe ratio for FNJHX, currently valued at 2.14, compared to the broader market0.002.004.002.14
Sortino ratio
The chart of Sortino ratio for FNJHX, currently valued at 3.31, compared to the broader market0.005.0010.003.31
Omega ratio
The chart of Omega ratio for FNJHX, currently valued at 1.50, compared to the broader market1.002.003.004.001.50
Calmar ratio
The chart of Calmar ratio for FNJHX, currently valued at 0.89, compared to the broader market0.005.0010.0015.0020.0025.000.89
Martin ratio
The chart of Martin ratio for FNJHX, currently valued at 7.82, compared to the broader market0.0020.0040.0060.0080.00100.007.82
HYMB
Sharpe ratio
The chart of Sharpe ratio for HYMB, currently valued at 2.20, compared to the broader market0.002.004.002.20
Sortino ratio
The chart of Sortino ratio for HYMB, currently valued at 3.07, compared to the broader market0.005.0010.003.07
Omega ratio
The chart of Omega ratio for HYMB, currently valued at 1.44, compared to the broader market1.002.003.004.001.44
Calmar ratio
The chart of Calmar ratio for HYMB, currently valued at 0.84, compared to the broader market0.005.0010.0015.0020.0025.000.84
Martin ratio
The chart of Martin ratio for HYMB, currently valued at 13.95, compared to the broader market0.0020.0040.0060.0080.00100.0013.95

FNJHX vs. HYMB - Sharpe Ratio Comparison

The current FNJHX Sharpe Ratio is 2.14, which is comparable to the HYMB Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FNJHX and HYMB, 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
2.14
2.20
FNJHX
HYMB

Dividends

FNJHX vs. HYMB - Dividend Comparison

FNJHX's dividend yield for the trailing twelve months is around 2.90%, less than HYMB's 4.19% yield.


TTM20232022202120202019201820172016201520142013
FNJHX
Fidelity New Jersey Municipal Income Fund
2.90%2.67%2.38%1.95%2.36%2.70%2.93%2.93%3.11%3.33%3.27%4.02%
HYMB
SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF
4.19%4.06%3.77%3.19%3.55%3.95%4.03%3.78%4.08%4.54%4.49%5.17%

Drawdowns

FNJHX vs. HYMB - Drawdown Comparison

The maximum FNJHX drawdown since its inception was -14.65%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for FNJHX and HYMB. For additional features, visit the drawdowns tool.


-8.00%-6.00%-4.00%-2.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-1.53%
-3.87%
FNJHX
HYMB

Volatility

FNJHX vs. HYMB - Volatility Comparison

The current volatility for Fidelity New Jersey Municipal Income Fund (FNJHX) is 1.61%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 2.32%. This indicates that FNJHX experiences smaller price fluctuations and is considered to be less risky than HYMB 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
1.61%
2.32%
FNJHX
HYMB