FTNJ vs. CA

Last updated Jun 4, 2026

FTNJ (Franklin New Jersey Municipal Income ETF) and CA (Xtrackers California Municipal Bond ETF) are both Municipal Bonds funds - FTNJ tracks the Actively Managed while CA tracks the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. Both are passively managed. At a 0.45 correlation, their price movements are largely independent. FTNJ charges 0.35%/yr vs 0.07%/yr for CA.

Performance

FTNJ vs. CA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin New Jersey Municipal Income ETF (FTNJ) and Xtrackers California Municipal Bond ETF (CA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTNJ achieves a 1.80% return, which is significantly higher than CA's 1.20% return.

FTNJ

• 1D: -0.06%
• 1M: 0.63%
• YTD: 1.80%
• 6M: 2.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CA

• 1D: 0.00%
• 1M: 0.38%
• YTD: 1.20%
• 6M: 1.44%
• 1Y: 6.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FTNJ vs. CA - Yearly Performance Comparison

	2026 (YTD)	2025
FTNJ Franklin New Jersey Municipal Income ETF	1.80%	0.34%
CA Xtrackers California Municipal Bond ETF	1.20%	0.18%

Correlation

The correlation between FTNJ and CA is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 11, 2025	0.45

Return for Risk

FTNJ vs. CA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CA

CA Risk / Return Rank: 73
CA Sharpe Ratio Rank: 78
CA Sortino Ratio Rank: 85
CA Omega Ratio Rank: 90
CA Calmar Ratio Rank: 53
CA Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FTNJ vs. CA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin New Jersey Municipal Income ETF (FTNJ) and Xtrackers California Municipal Bond ETF (CA). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FTNJ	CA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.67	+0.49

Drawdowns

FTNJ vs. CA - Drawdown Comparison

The maximum FTNJ drawdown since its inception was -2.72%, smaller than the maximum CA drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for FTNJ and CA.

Drawdown Indicators

	FTNJ	CA	Difference
Max Drawdown Largest peak-to-trough decline	-2.72%	-5.24%	+2.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.57%	—
Current Drawdown Current decline from peak	-0.20%	-0.75%	+0.55%
Average Drawdown Average peak-to-trough decline	-0.61%	-1.27%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.68%	—

Volatility

Volatility by Period

	FTNJ	CA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.35%	2.64%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	3.99%	-0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	3.99%	-0.64%

FTNJ vs. CA - Expense Ratio Comparison

FTNJ has a 0.35% expense ratio, which is higher than CA's 0.07% expense ratio.

Dividends

FTNJ vs. CA - Dividend Comparison

FTNJ's dividend yield for the trailing twelve months is around 1.98%, less than CA's 2.96% yield.

Position	TTM	2025	2024
CA Xtrackers California Municipal Bond ETF	2.96%	3.14%	3.03%
FTNJ Franklin New Jersey Municipal Income ETF	1.98%	0.54%	0.00%

Frequently Asked Questions

Can I hold both FTNJ and CA in my portfolio?

FTNJ and CA have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTNJ or CA?

On fees, CA is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTNJ or CA?

CA is cheaper with a 0.07% expense ratio, compared with 0.35% for FTNJ.

Which ETF pays a higher dividend yield, FTNJ or CA?

CA has the higher dividend yield at 2.96%, compared with 1.98% for FTNJ.

What is the main difference between FTNJ and CA?

FTNJ tracks Actively Managed, while CA tracks ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. They also come from different issuers: Franklin Templeton and Xtrackers. Their fees differ too: 0.35% for FTNJ and 0.07% for CA.