MUB vs. VNJTX
MUB (iShares National AMT-Free Muni Bond ETF) and VNJTX (Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares) are both Municipal Bonds funds. Over the past 10 years, MUB returned 1.95%/yr vs 3.00%/yr for VNJTX. A 0.59 correlation means they provide meaningful diversification when combined. MUB charges 0.07%/yr vs 0.17%/yr for VNJTX.
Performance
MUB vs. VNJTX - Performance Comparison
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Returns By Period
In the year-to-date period, MUB achieves a 1.54% return, which is significantly lower than VNJTX's 2.12% return. Over the past 10 years, MUB has underperformed VNJTX with an annualized return of 1.95%, while VNJTX has yielded a comparatively higher 3.00% annualized return.
MUB
- 1D
- 0.33%
- 1M
- 1.44%
- YTD
- 1.54%
- 6M
- 1.92%
- 1Y
- 6.59%
- 3Y*
- 3.28%
- 5Y*
- 0.88%
- 10Y*
- 1.95%
VNJTX
- 1D
- 0.09%
- 1M
- 1.90%
- YTD
- 2.12%
- 6M
- 2.52%
- 1Y
- 8.34%
- 3Y*
- 4.75%
- 5Y*
- 1.43%
- 10Y*
- 3.00%
MUB vs. VNJTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 1.54% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 2.12% | 4.89% | 2.69% | 8.04% | -10.31% | 2.62% | 6.02% | 9.27% | 1.53% | 8.37% |
Correlation
The correlation between MUB and VNJTX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2007 | 0.59 |
The correlation between MUB and VNJTX shifts across timeframes, from 0.59 (all time) to 0.72 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUB vs. VNJTX — Risk / Return Rank
MUB
VNJTX
MUB vs. VNJTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) and Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX). 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.
| MUB | VNJTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.68 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.85 | -0.48 |
| Martin ratioReturn relative to average drawdown | 8.25 | 10.22 | -1.96 |
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Drawdowns
MUB vs. VNJTX - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, smaller than the maximum VNJTX drawdown of -15.71%. Use the drawdown chart below to compare losses from any high point for MUB and VNJTX.
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Drawdown Indicators
| MUB | VNJTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -15.71% | +2.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -2.94% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -6.88% | +1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -15.71% | +3.83% |
Max Drawdown (10Y)Largest decline over 10 years | -13.68% | -15.71% | +2.03% |
Current DrawdownCurrent decline from peak | -0.40% | -0.06% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -1.86% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 0.82% | -0.02% |
Volatility
MUB vs. VNJTX - Volatility Comparison
iShares National AMT-Free Muni Bond ETF (MUB) and Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) have volatilities of 0.78% and 0.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUB | VNJTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.78% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.27% | 2.24% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.88% | 3.02% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.07% | 4.55% | -0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 4.56% | +0.36% |
MUB vs. VNJTX - Expense Ratio Comparison
MUB has a 0.07% expense ratio, which is lower than VNJTX's 0.17% 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
MUB vs. VNJTX - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 3.17%, less than VNJTX's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 3.58% | 4.42% | 3.97% | 3.26% | 3.14% | 2.84% | 3.71% | 4.06% | 3.93% | 4.03% | 4.51% | 3.70% |
Frequently Asked Questions
MUB and VNJTX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNJTX has higher volatility (0.78%) compared to MUB (0.78%). In terms of maximum drawdown, MUB dropped -13.68% vs VNJTX's -15.71%.
VNJTX currently has the higher Sharpe Ratio (2.77 vs 2.29), 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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