HMJIX vs. MUJ

Last updated Jun 4, 2026

HMJIX (Hartford Municipal Short Duration Fund) and MUJ (BlackRock MuniHoldings New Jersey Quality Fund) are both Municipal Bonds funds. Over the past 10 years, HMJIX returned 1.67%/yr vs 2.47%/yr for MUJ. At a 0.29 correlation, their price movements are largely independent. HMJIX charges 0.46%/yr vs 2.26%/yr for MUJ.

Performance

HMJIX vs. MUJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Municipal Short Duration Fund (HMJIX) and BlackRock MuniHoldings New Jersey Quality Fund (MUJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HMJIX achieves a 0.69% return, which is significantly lower than MUJ's 4.64% return. Over the past 10 years, HMJIX has underperformed MUJ with an annualized return of 1.67%, while MUJ has yielded a comparatively higher 2.47% annualized return.

HMJIX

• 1D: 0.10%
• 1M: 0.32%
• YTD: 0.69%
• 6M: 0.95%
• 1Y: 3.56%
• 3Y*: 3.10%
• 5Y*: 1.27%
• 10Y*: 1.67%

MUJ

• 1D: -0.49%
• 1M: 1.10%
• YTD: 4.64%
• 6M: 4.23%
• 1Y: 18.31%
• 3Y*: 8.52%
• 5Y*: -0.02%
• 10Y*: 2.47%

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

HMJIX vs. MUJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HMJIX Hartford Municipal Short Duration Fund	0.69%	3.69%	2.33%	3.56%	-3.75%	0.71%	2.72%	4.16%	1.62%	2.56%
MUJ BlackRock MuniHoldings New Jersey Quality Fund	4.64%	13.86%	2.28%	7.55%	-26.31%	15.20%	5.95%	18.95%	-8.49%	9.99%

Correlation

The correlation between HMJIX and MUJ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.29

The correlation between HMJIX and MUJ shifts across timeframes, from 0.24 (1 year) to 0.37 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HMJIX vs. MUJ — Risk / Return Rank

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

HMJIX

HMJIX Risk / Return Rank: 74
HMJIX Sharpe Ratio Rank: 94
HMJIX Sortino Ratio Rank: 94
HMJIX Omega Ratio Rank: 98
HMJIX Calmar Ratio Rank: 48
HMJIX Martin Ratio Rank: 35

MUJ

MUJ Risk / Return Rank: 44
MUJ Sharpe Ratio Rank: 50
MUJ Sortino Ratio Rank: 51
MUJ Omega Ratio Rank: 55
MUJ Calmar Ratio Rank: 28
MUJ Martin Ratio Rank: 36

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.

HMJIX vs. MUJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Municipal Short Duration Fund (HMJIX) and BlackRock MuniHoldings New Jersey Quality Fund (MUJ). 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.

	HMJIX	MUJ	Difference
Sharpe ratio: Return per unit of total volatility	3.28	2.09	+1.20
Sortino ratio: Return per unit of downside risk	4.97	3.03	+1.94
Omega ratio: Gain probability vs. loss probability	2.22	1.41	+0.81
Calmar ratio: Return relative to maximum drawdown	2.65	1.96	+0.70
Martin ratio: Return relative to average drawdown	7.78	7.91	-0.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMJIX vs. MUJ - Sharpe Ratio Comparison

The current HMJIX Sharpe Ratio is 3.28, which is higher than the MUJ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of HMJIX and MUJ, 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

	HMJIX	MUJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.28	2.09	+1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	-0.00	+0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.22	+0.71
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.35	+0.61

Drawdowns

HMJIX vs. MUJ - Drawdown Comparison

The maximum HMJIX drawdown since its inception was -7.02%, smaller than the maximum MUJ drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for HMJIX and MUJ.

Drawdown Indicators

	HMJIX	MUJ	Difference
Max Drawdown Largest peak-to-trough decline	-7.02%	-41.72%	+34.70%
Max Drawdown (1Y) Largest decline over 1 year	-1.39%	-9.41%	+8.02%
Max Drawdown (3Y) Largest decline over 3 years	-1.71%	-12.17%	+10.46%
Max Drawdown (5Y) Largest decline over 5 years	-6.26%	-32.71%	+26.45%
Max Drawdown (10Y) Largest decline over 10 years	-7.02%	-32.71%	+25.69%
Current Drawdown Current decline from peak	-0.64%	-3.46%	+2.82%
Average Drawdown Average peak-to-trough decline	-1.01%	-9.04%	+8.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	2.32%	-1.85%

Volatility

HMJIX vs. MUJ - Volatility Comparison

The current volatility for Hartford Municipal Short Duration Fund (HMJIX) is 0.39%, while BlackRock MuniHoldings New Jersey Quality Fund (MUJ) has a volatility of 2.82%. This indicates that HMJIX experiences smaller price fluctuations and is considered to be less risky than MUJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMJIX	MUJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	2.82%	-2.43%
Volatility (6M) Calculated over the trailing 6-month period	0.92%	6.90%	-5.98%
Volatility (1Y) Calculated over the trailing 1-year period	1.13%	8.82%	-7.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.53%	10.35%	-8.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.79%	11.20%	-9.41%

HMJIX vs. MUJ - Expense Ratio Comparison

HMJIX has a 0.46% expense ratio, which is lower than MUJ's 2.26% expense ratio.

Dividends

HMJIX vs. MUJ - Dividend Comparison

HMJIX's dividend yield for the trailing twelve months is around 2.50%, less than MUJ's 5.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HMJIX Hartford Municipal Short Duration Fund	2.50%	2.01%	1.89%	1.83%	1.44%	1.21%	1.78%	2.28%	1.90%	1.63%	1.27%	0.00%
MUJ BlackRock MuniHoldings New Jersey Quality Fund	5.32%	5.45%	5.53%	4.13%	6.40%	4.77%	4.78%	4.03%	5.34%	5.55%	6.00%	5.69%

Frequently Asked Questions

Can I hold both HMJIX and MUJ in my portfolio?

HMJIX and MUJ have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HMJIX or MUJ?

MUJ has higher volatility (2.82%) compared to HMJIX (0.39%). In terms of maximum drawdown, HMJIX dropped -7.02% vs MUJ's -41.72%.

Which has better risk-adjusted returns?

HMJIX currently has the higher Sharpe Ratio (3.28 vs 2.09), 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.