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MANJX vs. REIT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MANJX vs. REIT

Last updated Jun 25, 2026

MANJX (BlackRock New Jersey Municipal Bond Fund) and REIT (ALPS Active REIT ETF) are both funds - MANJX is a Municipal Bonds fund managed by BlackRock, while REIT is a REIT fund actively managed by ALPS. Over the past 5 years, MANJX returned 1.14%/yr vs 4.87%/yr for REIT. At a 0.20 correlation, their price movements are largely independent. MANJX charges 0.52%/yr vs 0.68%/yr for REIT.

Performance

MANJX vs. REIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock New Jersey Municipal Bond Fund (MANJX) and ALPS Active REIT ETF (REIT). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, MANJX achieves a 2.06% return, which is significantly lower than REIT's 17.28% return.

MANJX

1D
0.00%
1M
1.70%
YTD
2.06%
6M
2.48%
1Y
7.61%
3Y*
4.39%
5Y*
1.14%
10Y*
2.35%

REIT

1D
0.10%
1M
1.75%
YTD
17.28%
6M
16.84%
1Y
16.30%
3Y*
12.77%
5Y*
4.87%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MANJX vs. REIT - Yearly Performance Comparison

2026 (YTD)20252024202320222021
MANJX
BlackRock New Jersey Municipal Bond Fund		2.06%5.21%2.07%7.33%-10.91%3.68%
REIT
ALPS Active REIT ETF		17.28%-0.55%7.11%13.74%-21.23%33.02%

Correlation

The correlation between MANJX and REIT is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.21

Correlation (All Time)
Calculated using the full available price history since Feb 26, 2021

0.20

Compare stocks, funds, or ETFs

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BlackRock New Jersey Municipal Bond Fund

ALPS Active REIT ETF

Often compared with MANJX:
MANJX vs. FNJHXMANJX vs. VNJTXMANJX vs. DFSMXMANJX vs. ATOIXMANJX vs. DFABXMANJX vs. MPAMANJX vs. BDJ
Often compared with REIT:
REIT vs. VOOREIT vs. VTIREIT vs. SGOVREIT vs. IHGREIT vs. VRAIREIT vs. VGTREIT vs. SCHG

Return for Risk

MANJX vs. REIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MANJX
MANJX Risk / Return Rank: 7575
Overall Rank
MANJX Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
MANJX Sortino Ratio Rank: 9090
Sortino Ratio Rank
MANJX Omega Ratio Rank: 9393
Omega Ratio Rank
MANJX Calmar Ratio Rank: 5454
Calmar Ratio Rank
MANJX Martin Ratio Rank: 5151
Martin Ratio Rank
REIT
REIT Risk / Return Rank: 4040
Overall Rank
REIT Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
REIT Sortino Ratio Rank: 3434
Sortino Ratio Rank
REIT Omega Ratio Rank: 3535
Omega Ratio Rank
REIT Calmar Ratio Rank: 5050
Calmar Ratio Rank
REIT Martin Ratio Rank: 4444
Martin Ratio Rank
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.

MANJX vs. REIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock New Jersey Municipal Bond Fund (MANJX) and ALPS Active REIT ETF (REIT). 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.

MANJXREITDifference
Sharpe ratioReturn per unit of total volatility
2.57
1.23

+1.35

Sortino ratioReturn per unit of downside risk
3.93
1.67

+2.26

Omega ratioGain probability vs. loss probability

1.65

1.22

+0.43

Calmar ratioReturn relative to maximum drawdown

2.56

2.23

+0.33

Martin ratioReturn relative to average drawdown

9.31

6.59

+2.72

MANJX vs. REIT - Sharpe Ratio Comparison

The current MANJX Sharpe Ratio is 2.57, which is higher than the REIT Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of MANJX and REIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MANJX vs. REIT - Drawdown Comparison

The maximum MANJX drawdown since its inception was -15.76%, smaller than the maximum REIT drawdown of -29.30%. Use the drawdown chart below to compare losses from any high point for MANJX and REIT.

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Drawdown Indicators

MANJXREITDifference

Max Drawdown

Largest peak-to-trough decline

-15.76%

-29.30%

+13.54%

Max Drawdown (1Y)

Largest decline over 1 year

-2.99%

-7.35%

+4.36%

Max Drawdown (3Y)

Largest decline over 3 years

-5.96%

-18.19%

+12.23%

Max Drawdown (5Y)

Largest decline over 5 years

-15.76%

-29.30%

+13.54%

Max Drawdown (10Y)

Largest decline over 10 years

-15.76%

—

—

Current Drawdown

Current decline from peak

-0.12%

-0.13%

+0.01%

Average Drawdown

Average peak-to-trough decline

-2.21%

-10.28%

+8.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.82%

2.54%

-1.72%

Volatility

MANJX vs. REIT - Volatility Comparison

The current volatility for BlackRock New Jersey Municipal Bond Fund (MANJX) is 0.80%, while ALPS Active REIT ETF (REIT) has a volatility of 5.05%. This indicates that MANJX experiences smaller price fluctuations and is considered to be less risky than REIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MANJXREITDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.80%

5.05%

-4.25%

Volatility (6M)

Calculated over the trailing 6-month period

2.28%

9.81%

-7.53%

Volatility (1Y)

Calculated over the trailing 1-year period

2.97%

13.35%

-10.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.62%

18.51%

-13.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.75%

18.37%

-13.62%

MANJX vs. REIT - Expense Ratio Comparison

MANJX has a 0.52% expense ratio, which is lower than REIT's 0.68% expense ratio.

Dividends

MANJX vs. REIT - Dividend Comparison

MANJX's dividend yield for the trailing twelve months is around 3.71%, more than REIT's 2.72% yield.

PositionTTM20252024202320222021202020192018201720162015
MANJX
BlackRock New Jersey Municipal Bond Fund		3.71%4.90%4.20%3.18%2.44%2.73%3.12%3.53%3.71%3.54%3.59%3.29%
REIT
ALPS Active REIT ETF		2.72%3.20%3.06%3.13%2.81%4.71%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

MANJX and REIT have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

REIT has higher volatility (5.05%) compared to MANJX (0.80%). In terms of maximum drawdown, MANJX dropped -15.76% vs REIT's -29.30%.

MANJX currently has the higher Sharpe Ratio (2.57 vs 1.23), 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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