FNJHX vs. NJTFX
Compare and contrast key facts about Fidelity New Jersey Municipal Income Fund (FNJHX) and T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX).
FNJHX is managed by Fidelity. It was launched on Jan 1, 1988. NJTFX is managed by T. Rowe Price. It was launched on Apr 29, 1991.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FNJHX or NJTFX.
Correlation
The correlation between FNJHX and NJTFX is 0.81, 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. NJTFX - Performance Comparison
Key characteristics
FNJHX:
0.29
NJTFX:
0.74
FNJHX:
0.42
NJTFX:
1.03
FNJHX:
1.06
NJTFX:
1.15
FNJHX:
0.19
NJTFX:
0.47
FNJHX:
0.94
NJTFX:
3.02
FNJHX:
1.02%
NJTFX:
0.80%
FNJHX:
3.24%
NJTFX:
3.24%
FNJHX:
-14.65%
NJTFX:
-17.09%
FNJHX:
-2.21%
NJTFX:
-2.07%
Returns By Period
In the year-to-date period, FNJHX achieves a 0.95% return, which is significantly lower than NJTFX's 1.97% return. Over the past 10 years, FNJHX has outperformed NJTFX with an annualized return of 2.31%, while NJTFX has yielded a comparatively lower 1.73% annualized return.
FNJHX
0.95%
-0.95%
0.98%
1.13%
1.04%
2.31%
NJTFX
1.97%
-1.05%
0.98%
2.41%
1.17%
1.73%
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FNJHX vs. NJTFX - Expense Ratio Comparison
FNJHX has a 0.47% expense ratio, which is lower than NJTFX's 0.56% expense ratio.
Risk-Adjusted Performance
FNJHX vs. NJTFX - Risk-Adjusted Performance 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.
Dividends
FNJHX vs. NJTFX - Dividend Comparison
FNJHX's dividend yield for the trailing twelve months is around 2.69%, less than NJTFX's 2.91% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNJHX Fidelity New Jersey Municipal Income Fund | 2.69% | 2.67% | 2.38% | 1.95% | 2.36% | 2.70% | 2.93% | 2.93% | 3.11% | 3.33% | 3.27% | 4.02% |
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 2.91% | 2.84% | 2.70% | 2.37% | 2.98% | 2.84% | 3.13% | 3.14% | 1.10% | 0.00% | 0.00% | 0.02% |
Drawdowns
FNJHX vs. NJTFX - Drawdown Comparison
The maximum FNJHX drawdown since its inception was -14.65%, smaller than the maximum NJTFX drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for FNJHX and NJTFX. For additional features, visit the drawdowns tool.
Volatility
FNJHX vs. NJTFX - Volatility Comparison
Fidelity New Jersey Municipal Income Fund (FNJHX) has a higher volatility of 1.22% compared to T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) at 1.14%. 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.