MUJ vs. AZTFX
MUJ (BlackRock MuniHoldings New Jersey Quality Fund) and AZTFX (Aquila Tax Free Trust of Arizona Fund) are both Municipal Bonds funds. Over the past 10 years, MUJ returned 2.61%/yr vs 1.46%/yr for AZTFX. At a 0.26 correlation, their price movements are largely independent. MUJ charges 2.26%/yr vs 0.73%/yr for AZTFX.
Performance
MUJ vs. AZTFX - Performance Comparison
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Returns By Period
In the year-to-date period, MUJ achieves a 6.39% return, which is significantly higher than AZTFX's 1.59% return. Over the past 10 years, MUJ has outperformed AZTFX with an annualized return of 2.61%, while AZTFX has yielded a comparatively lower 1.46% annualized return.
MUJ
- 1D
- 0.90%
- 1M
- 2.01%
- YTD
- 6.39%
- 6M
- 4.93%
- 1Y
- 20.70%
- 3Y*
- 9.42%
- 5Y*
- 0.09%
- 10Y*
- 2.61%
AZTFX
- 1D
- 0.10%
- 1M
- 1.31%
- YTD
- 1.59%
- 6M
- 1.99%
- 1Y
- 6.55%
- 3Y*
- 3.20%
- 5Y*
- 0.44%
- 10Y*
- 1.46%
MUJ vs. AZTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 6.39% | 13.86% | 2.28% | 7.55% | -26.31% | 15.20% | 5.95% | 18.95% | -8.49% | 9.99% |
AZTFX Aquila Tax Free Trust of Arizona Fund | 1.59% | 4.57% | 0.76% | 4.19% | -8.34% | 0.77% | 3.64% | 6.36% | 0.88% | 3.99% |
Correlation
The correlation between MUJ and AZTFX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 1998 | 0.26 |
The correlation between MUJ and AZTFX shifts across timeframes, from 0.26 (all time) to 0.46 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUJ vs. AZTFX — Risk / Return Rank
MUJ
AZTFX
MUJ vs. AZTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniHoldings New Jersey Quality Fund (MUJ) and Aquila Tax Free Trust of Arizona Fund (AZTFX). 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.
| MUJ | AZTFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.81 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 2.35 | -0.13 |
| Martin ratioReturn relative to average drawdown | 8.93 | 7.81 | +1.12 |
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Drawdowns
MUJ vs. AZTFX - Drawdown Comparison
The maximum MUJ drawdown since its inception was -41.72%, which is greater than AZTFX's maximum drawdown of -12.40%. Use the drawdown chart below to compare losses from any high point for MUJ and AZTFX.
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Drawdown Indicators
| MUJ | AZTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | -12.40% | -29.32% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -2.80% | -6.61% |
Max Drawdown (3Y)Largest decline over 3 years | -12.17% | -4.53% | -7.64% |
Max Drawdown (5Y)Largest decline over 5 years | -32.71% | -12.40% | -20.31% |
Max Drawdown (10Y)Largest decline over 10 years | -32.71% | -12.40% | -20.31% |
Current DrawdownCurrent decline from peak | -1.84% | -0.57% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -9.03% | -1.69% | -7.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 0.84% | +1.49% |
Volatility
MUJ vs. AZTFX - Volatility Comparison
BlackRock MuniHoldings New Jersey Quality Fund (MUJ) has a higher volatility of 2.36% compared to Aquila Tax Free Trust of Arizona Fund (AZTFX) at 0.61%. This indicates that MUJ's price experiences larger fluctuations and is considered to be riskier than AZTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUJ | AZTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 0.61% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 6.90% | 1.85% | +5.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.93% | 2.32% | +6.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.36% | 3.24% | +7.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 3.21% | +7.98% |
MUJ vs. AZTFX - Expense Ratio Comparison
MUJ has a 2.26% expense ratio, which is higher than AZTFX's 0.73% expense ratio.
Dividends
MUJ vs. AZTFX - Dividend Comparison
MUJ's dividend yield for the trailing twelve months is around 5.26%, more than AZTFX's 3.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AZTFX Aquila Tax Free Trust of Arizona Fund | 3.31% | 3.28% | 2.50% | 2.43% | 1.66% | 1.97% | 2.26% | 2.94% | 2.95% | 2.78% | 3.09% | 3.33% |
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 5.26% | 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
MUJ and AZTFX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUJ has higher volatility (2.36%) compared to AZTFX (0.61%). In terms of maximum drawdown, MUJ dropped -41.72% vs AZTFX's -12.40%.
AZTFX currently has the higher Sharpe Ratio (2.85 vs 2.34), 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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