MUA vs. MUJ
MUA (BlackRock MuniAssets Fund) and MUJ (BlackRock MuniHoldings New Jersey Quality Fund) are both Municipal Bonds funds from BlackRock. Both are actively managed. Over the past 10 years, MUA returned 1.68%/yr vs 2.47%/yr for MUJ. At a 0.30 correlation, their price movements are largely independent. MUA charges 1.96%/yr vs 2.26%/yr for MUJ.
Performance
MUA vs. MUJ - Performance Comparison
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Returns By Period
In the year-to-date period, MUA achieves a 1.91% return, which is significantly lower than MUJ's 4.64% return. Over the past 10 years, MUA has underperformed MUJ with an annualized return of 1.68%, while MUJ has yielded a comparatively higher 2.47% annualized return.
MUA
- 1D
- -0.65%
- 1M
- 1.95%
- YTD
- 1.91%
- 6M
- 2.15%
- 1Y
- 10.62%
- 3Y*
- 7.80%
- 5Y*
- -3.08%
- 10Y*
- 1.68%
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%
MUA vs. MUJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUA BlackRock MuniAssets Fund | 1.91% | 3.26% | 10.44% | 2.94% | -22.43% | 6.23% | 1.28% | 23.23% | -9.69% | 16.48% |
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 MUA and MUJ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 1998 | 0.30 |
The correlation between MUA and MUJ shifts across timeframes, from 0.30 (all time) to 0.53 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUA vs. MUJ — Risk / Return Rank
MUA
MUJ
MUA vs. MUJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniAssets Fund (MUA) 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.
| MUA | MUJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.41 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 1.96 | -0.90 |
| Martin ratioReturn relative to average drawdown | 2.05 | 7.91 | -5.86 |
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
| MUA | MUJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 2.09 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | -0.00 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | 0.22 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.35 | -0.01 |
Drawdowns
MUA vs. MUJ - Drawdown Comparison
The maximum MUA drawdown since its inception was -43.03%, roughly equal to the maximum MUJ drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for MUA and MUJ.
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Drawdown Indicators
| MUA | MUJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.03% | -41.72% | -1.31% |
Max Drawdown (1Y)Largest decline over 1 year | -10.11% | -9.41% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -20.01% | -12.17% | -7.84% |
Max Drawdown (5Y)Largest decline over 5 years | -43.03% | -32.71% | -10.32% |
Max Drawdown (10Y)Largest decline over 10 years | -43.03% | -32.71% | -10.32% |
Current DrawdownCurrent decline from peak | -18.80% | -3.46% | -15.34% |
Average DrawdownAverage peak-to-trough decline | -9.68% | -9.04% | -0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.20% | 2.32% | +2.88% |
Volatility
MUA vs. MUJ - Volatility Comparison
BlackRock MuniAssets Fund (MUA) has a higher volatility of 3.06% compared to BlackRock MuniHoldings New Jersey Quality Fund (MUJ) at 2.82%. This indicates that MUA's price experiences larger fluctuations and is considered to be riskier than MUJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUA | MUJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 2.82% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 8.50% | 6.90% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.31% | 8.82% | +3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.94% | 10.35% | +5.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 11.20% | +5.18% |
MUA vs. MUJ - Expense Ratio Comparison
MUA has a 1.96% expense ratio, which is lower than MUJ's 2.26% expense ratio.
Dividends
MUA vs. MUJ - Dividend Comparison
MUA's dividend yield for the trailing twelve months is around 6.26%, more than MUJ's 5.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUA BlackRock MuniAssets Fund | 6.26% | 6.22% | 6.03% | 4.84% | 6.72% | 5.06% | 4.35% | 4.37% | 5.12% | 4.61% | 5.24% | 5.25% |
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
MUA and MUJ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUA has higher volatility (3.06%) compared to MUJ (2.82%). In terms of maximum drawdown, MUA dropped -43.03% vs MUJ's -41.72%.
MUJ currently has the higher Sharpe Ratio (2.09 vs 0.87), 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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