GAB vs. VNJUX

Last updated Jun 3, 2026

GAB (The Gabelli Equity Trust Inc) and VNJUX (Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares) are both mutual funds - GAB is a Large Cap Value Equities fund managed by Gabelli Funds, while VNJUX is a Municipal Bonds fund managed by Vanguard. Over the past 10 years, GAB returned 11.03%/yr vs 3.10%/yr for VNJUX. At a correlation of -0.09, they often move in opposite directions. GAB charges 0.01%/yr vs 0.09%/yr for VNJUX.

Performance

GAB vs. VNJUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Gabelli Equity Trust Inc (GAB) and Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares (VNJUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAB achieves a -5.51% return, which is significantly lower than VNJUX's 1.79% return. Over the past 10 years, GAB has outperformed VNJUX with an annualized return of 11.03%, while VNJUX has yielded a comparatively lower 3.10% annualized return.

GAB

• 1D: 0.54%
• 1M: -1.06%
• YTD: -5.51%
• 6M: -3.63%
• 1Y: 8.86%
• 3Y*: 11.95%
• 5Y*: 5.43%
• 10Y*: 11.03%

VNJUX

• 1D: 0.00%
• 1M: 0.48%
• YTD: 1.79%
• 6M: 2.28%
• 1Y: 8.41%
• 3Y*: 4.65%
• 5Y*: 1.42%
• 10Y*: 3.10%

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

GAB vs. VNJUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GAB The Gabelli Equity Trust Inc	-5.51%	27.03%	18.05%	3.37%	-16.30%	28.26%	14.70%	31.62%	-8.77%	24.66%
VNJUX Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares	1.79%	4.96%	2.79%	7.76%	-10.24%	2.69%	6.11%	9.37%	1.61%	8.48%

Correlation

The correlation between GAB and VNJUX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.02
Correlation (All Time) Calculated using the full available price history since May 15, 2001	-0.09

The correlation between GAB and VNJUX shifts across timeframes, from -0.09 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GAB vs. VNJUX — Risk / Return Rank

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

GAB

GAB Risk / Return Rank: 7
GAB Sharpe Ratio Rank: 7
GAB Sortino Ratio Rank: 7
GAB Omega Ratio Rank: 7
GAB Calmar Ratio Rank: 7
GAB Martin Ratio Rank: 6

VNJUX

VNJUX Risk / Return Rank: 73
VNJUX Sharpe Ratio Rank: 84
VNJUX Sortino Ratio Rank: 89
VNJUX Omega Ratio Rank: 90
VNJUX Calmar Ratio Rank: 54
VNJUX Martin Ratio Rank: 49

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.

GAB vs. VNJUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Gabelli Equity Trust Inc (GAB) and Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares (VNJUX). 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.

	GAB	VNJUX	Difference
Sharpe ratio Return per unit of total volatility	0.61	2.70	-2.09
Sortino ratio Return per unit of downside risk	0.97	4.29	-3.32
Omega ratio Gain probability vs. loss probability	1.12	1.65	-0.54
Calmar ratio Return relative to maximum drawdown	0.70	2.84	-2.14
Martin ratio Return relative to average drawdown	1.90	10.24	-8.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAB vs. VNJUX - Sharpe Ratio Comparison

The current GAB Sharpe Ratio is 0.61, which is lower than the VNJUX Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of GAB and VNJUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GAB	VNJUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	2.70	-2.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.31	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.68	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	1.04	-0.71

Drawdowns

GAB vs. VNJUX - Drawdown Comparison

The maximum GAB drawdown since its inception was -74.62%, which is greater than VNJUX's maximum drawdown of -15.62%. Use the drawdown chart below to compare losses from any high point for GAB and VNJUX.

Drawdown Indicators

	GAB	VNJUX	Difference
Max Drawdown Largest peak-to-trough decline	-74.62%	-15.62%	-59.00%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-2.94%	-9.96%
Max Drawdown (3Y) Largest decline over 3 years	-19.63%	-6.87%	-12.76%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-15.62%	-10.98%
Max Drawdown (10Y) Largest decline over 10 years	-46.92%	-15.62%	-31.30%
Current Drawdown Current decline from peak	-8.33%	-0.39%	-7.94%
Average Drawdown Average peak-to-trough decline	-10.65%	-2.05%	-8.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	0.81%	+3.95%

Volatility

GAB vs. VNJUX - Volatility Comparison

The Gabelli Equity Trust Inc (GAB) has a higher volatility of 3.60% compared to Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares (VNJUX) at 1.14%. This indicates that GAB's price experiences larger fluctuations and is considered to be riskier than VNJUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAB	VNJUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	1.14%	+2.46%
Volatility (6M) Calculated over the trailing 6-month period	11.55%	2.27%	+9.28%
Volatility (1Y) Calculated over the trailing 1-year period	14.53%	3.06%	+11.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.27%	4.55%	+13.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	4.57%	+17.37%

GAB vs. VNJUX - Expense Ratio Comparison

GAB has a 0.01% expense ratio, which is lower than VNJUX's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GAB vs. VNJUX - Dividend Comparison

GAB's dividend yield for the trailing twelve months is around 10.60%, more than VNJUX's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAB The Gabelli Equity Trust Inc	10.60%	9.72%	11.15%	11.81%	10.95%	8.72%	9.57%	9.85%	12.55%	9.80%	10.87%	12.05%
VNJUX Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares	3.64%	4.49%	4.07%	3.03%	3.22%	2.91%	3.79%	4.15%	4.01%	4.13%	4.62%	3.78%

Frequently Asked Questions

Can I hold both GAB and VNJUX in my portfolio?

GAB and VNJUX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAB or VNJUX?

GAB has higher volatility (3.60%) compared to VNJUX (1.14%). In terms of maximum drawdown, GAB dropped -74.62% vs VNJUX's -15.62%.

Which has better risk-adjusted returns?

VNJUX currently has the higher Sharpe Ratio (2.70 vs 0.61), 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.