MHD vs. NJTFX
MHD (BlackRock MuniHoldings Fund) and NJTFX (T. Rowe Price New Jersey Tax Free Bond Fund) are both Municipal Bonds funds. Over the past 10 years, MHD returned 0.54%/yr vs 2.49%/yr for NJTFX. At a 0.27 correlation, their price movements are largely independent. MHD charges 2.14%/yr vs 0.56%/yr for NJTFX.
Performance
MHD vs. NJTFX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MHD having a 1.85% return and NJTFX slightly higher at 1.94%. Over the past 10 years, MHD has underperformed NJTFX with an annualized return of 0.54%, while NJTFX has yielded a comparatively higher 2.49% annualized return.
MHD
- 1D
- -0.51%
- 1M
- 1.12%
- YTD
- 1.85%
- 6M
- 2.90%
- 1Y
- 10.70%
- 3Y*
- 6.50%
- 5Y*
- -2.00%
- 10Y*
- 0.54%
NJTFX
- 1D
- 0.17%
- 1M
- 0.73%
- YTD
- 1.94%
- 6M
- 2.72%
- 1Y
- 9.51%
- 3Y*
- 4.92%
- 5Y*
- 1.57%
- 10Y*
- 2.49%
MHD vs. NJTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MHD BlackRock MuniHoldings Fund | 1.85% | 7.04% | 3.38% | 2.06% | -23.70% | 8.09% | 0.24% | 20.68% | -5.47% | 8.08% |
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 1.94% | 5.00% | 4.01% | 7.17% | -10.24% | 2.67% | 4.73% | 6.65% | 1.31% | 5.30% |
Correlation
The correlation between MHD and NJTFX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 28, 1997 | 0.27 |
The correlation between MHD and NJTFX shifts across timeframes, from 0.27 (all time) to 0.48 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MHD vs. NJTFX — Risk / Return Rank
MHD
NJTFX
MHD vs. NJTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniHoldings Fund (MHD) 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.
| MHD | NJTFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.24 | ||
| Sortino ratioReturn per unit of downside risk | -3.72 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.92 | -0.68 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 3.64 | -1.95 |
| Martin ratioReturn relative to average drawdown | 6.96 | 13.78 | -6.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MHD | NJTFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 3.50 | -2.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | 0.40 | -0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | 0.64 | -0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 1.27 | -0.95 |
Drawdowns
MHD vs. NJTFX - Drawdown Comparison
The maximum MHD drawdown since its inception was -45.95%, which is greater than NJTFX's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for MHD and NJTFX.
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Drawdown Indicators
| MHD | NJTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.95% | -15.19% | -30.76% |
Max Drawdown (1Y)Largest decline over 1 year | -6.36% | -2.59% | -3.77% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -5.69% | -9.37% |
Max Drawdown (5Y)Largest decline over 5 years | -36.68% | -15.19% | -21.49% |
Max Drawdown (10Y)Largest decline over 10 years | -36.68% | -15.19% | -21.49% |
Current DrawdownCurrent decline from peak | -13.99% | -0.01% | -13.98% |
Average DrawdownAverage peak-to-trough decline | -9.88% | -1.81% | -8.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 0.68% | +0.86% |
Volatility
MHD vs. NJTFX - Volatility Comparison
BlackRock MuniHoldings Fund (MHD) has a higher volatility of 3.82% compared to T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) at 1.06%. This indicates that MHD'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.
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Volatility by Period
| MHD | NJTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 1.06% | +2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 6.76% | 1.98% | +4.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.58% | 2.72% | +5.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.73% | 3.99% | +7.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.03% | 3.87% | +10.16% |
MHD vs. NJTFX - Expense Ratio Comparison
MHD has a 2.14% expense ratio, which is higher than NJTFX's 0.56% expense ratio.
Dividends
MHD vs. NJTFX - Dividend Comparison
MHD's dividend yield for the trailing twelve months is around 6.12%, more than NJTFX's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MHD BlackRock MuniHoldings Fund | 6.12% | 6.08% | 5.58% | 3.82% | 5.63% | 4.34% | 4.49% | 4.62% | 6.11% | 5.86% | 6.16% | 6.25% |
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 4.45% | 4.44% | 4.27% | 3.27% | 2.03% | 2.56% | 2.79% | 2.84% | 3.13% | 3.13% | 3.26% | 3.36% |
Frequently Asked Questions
MHD and NJTFX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MHD has higher volatility (3.82%) compared to NJTFX (1.06%). In terms of maximum drawdown, MHD dropped -45.95% vs NJTFX's -15.19%.
NJTFX currently has the higher Sharpe Ratio (3.50 vs 1.25), 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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