FNJHX vs. NJTFX
FNJHX (Fidelity New Jersey Municipal Income Fund) and NJTFX (T. Rowe Price New Jersey Tax Free Bond Fund) are both Municipal Bonds funds. Over the past 10 years, FNJHX returned 2.33%/yr vs 2.23%/yr for NJTFX. Their correlation of 0.83 means they have usually moved in the same direction. FNJHX charges 0.47%/yr vs 0.56%/yr for NJTFX.
Performance
FNJHX vs. NJTFX - Performance Comparison
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Returns By Period
In the year-to-date period, FNJHX achieves a -0.25% return, which is significantly lower than NJTFX's 0.63% return. Both investments have delivered pretty close results over the past 10 years, with FNJHX having a 2.33% annualized return and NJTFX not far behind at 2.23%.
FNJHX
- 1D
- -0.09%
- 1M
- -2.12%
- 6M
- -1.16%
- YTD
- -0.25%
- 1Y
- 4.13%
- 3Y*
- 3.63%
- 5Y*
- 0.70%
- 10Y*
- 2.33%
- ALL TIME*
- 4.64%
NJTFX
- 1D
- -0.18%
- 1M
- -2.08%
- 6M
- -0.09%
- YTD
- 0.63%
- 1Y
- 6.69%
- 3Y*
- 4.31%
- 5Y*
- 1.08%
- 10Y*
- 2.23%
- ALL TIME*
- 4.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FNJHX vs. NJTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNJHX Fidelity New Jersey Municipal Income Fund | -0.25% | 5.61% | 1.23% | 8.08% | -9.75% | 2.04% | 5.13% | 8.67% | 1.46% | 6.91% |
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 0.63% | 5.00% | 4.01% | 7.17% | -10.24% | 2.67% | 4.73% | 6.65% | 1.31% | 5.30% |
Correlation
The correlation between FNJHX and NJTFX is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 1991 | 0.83 |
The correlation between FNJHX and NJTFX has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.
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Return for Risk
FNJHX vs. NJTFX — Risk / Return Rank
FNJHX
NJTFX
FNJHX vs. NJTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New Jersey Municipal Income Fund (FNJHX) and T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX). 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.
| FNJHX | NJTFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.65 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 2.74 | -1.29 |
| Martin ratioReturn relative to average drawdown | 4.50 | 9.68 | -5.18 |
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Drawdowns
FNJHX vs. NJTFX - Drawdown Comparison
The maximum FNJHX drawdown since its inception was -14.74%, roughly equal to the maximum NJTFX drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for FNJHX and NJTFX.
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Drawdown Indicators
| FNJHX | NJTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.74% | -15.19% | +0.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -2.59% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -4.68% | -5.55% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -14.74% | -15.19% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | -14.74% | -15.19% | +0.45% |
Current DrawdownCurrent decline from peak | -2.37% | -2.08% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -1.77% | -1.81% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 0.73% | +0.27% |
Volatility
FNJHX vs. NJTFX - Volatility Comparison
Fidelity New Jersey Municipal Income Fund (FNJHX) has a higher volatility of 0.98% compared to T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) at 0.90%. This indicates that FNJHX's price experiences larger fluctuations and is considered to be riskier than NJTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNJHX | NJTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.90% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.30% | 2.14% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.77% | 2.77% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.97% | 4.01% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.09% | 3.87% | +0.22% |
FNJHX vs. NJTFX - Expense Ratio Comparison
FNJHX has a 0.47% expense ratio, which is lower than NJTFX's 0.56% expense ratio.
Dividends
FNJHX vs. NJTFX - Dividend Comparison
FNJHX's dividend yield for the trailing twelve months is around 2.77%, less than NJTFX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNJHX Fidelity New Jersey Municipal Income Fund | 2.77% | 3.66% | 2.69% | 2.67% | 1.78% | 2.11% | 2.60% | 3.45% | 2.96% | 3.47% | 4.18% | 3.19% |
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 3.98% | 4.44% | 4.27% | 3.27% | 2.03% | 2.56% | 2.79% | 2.84% | 3.13% | 3.13% | 3.26% | 3.36% |
Frequently Asked Questions
FNJHX and NJTFX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNJHX has higher volatility (0.98%) compared to NJTFX (0.90%). In terms of maximum drawdown, FNJHX dropped -14.74% vs NJTFX's -15.19%.
NJTFX currently has the higher Sharpe Ratio (2.60 vs 1.65), 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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