MUJ vs. KCTAX
MUJ (BlackRock MuniHoldings New Jersey Quality Fund) and KCTAX (DWS California Tax) are both Municipal Bonds funds. Over the past 10 years, MUJ returned 2.19%/yr vs 1.34%/yr for KCTAX. Their 0.26 correlation means their historical movements had little consistent relationship. MUJ charges 2.26%/yr vs 0.76%/yr for KCTAX.
Performance
MUJ vs. KCTAX - Performance Comparison
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Returns By Period
In the year-to-date period, MUJ achieves a 3.74% return, which is significantly higher than KCTAX's 0.71% return. Over the past 10 years, MUJ has outperformed KCTAX with an annualized return of 2.19%, while KCTAX has yielded a comparatively lower 1.34% annualized return.
MUJ
- 1D
- -0.58%
- 1M
- -2.65%
- 6M
- 0.17%
- YTD
- 3.74%
- 1Y
- 15.93%
- 3Y*
- 7.87%
- 5Y*
- -0.17%
- 10Y*
- 2.19%
- ALL TIME*
- 4.41%
KCTAX
- 1D
- -0.30%
- 1M
- -1.94%
- 6M
- 0.40%
- YTD
- 0.71%
- 1Y
- 5.81%
- 3Y*
- 2.82%
- 5Y*
- -0.43%
- 10Y*
- 1.34%
- ALL TIME*
- 3.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
KCTAX DWS California Tax | $0.00 | $0.00 | $0.00 |
| $967.57K | $866.46K | $1.13M |
MUJ vs. KCTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 3.74% | 13.86% | 2.28% | 7.55% | -26.31% | 15.20% | 5.95% | 18.95% | -8.49% | 9.99% |
KCTAX DWS California Tax | 0.71% | 3.45% | 1.92% | 5.44% | -12.10% | 1.93% | 3.78% | 8.99% | 0.22% | 5.16% |
Correlation
The correlation between MUJ and KCTAX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 1998 | 0.26 |
The correlation between MUJ and KCTAX shifts across timeframes, from 0.26 (all time) to 0.48 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUJ vs. KCTAX — Risk / Return Rank
MUJ
KCTAX
MUJ vs. KCTAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniHoldings New Jersey Quality Fund (MUJ) and DWS California Tax (KCTAX). 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 | KCTAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.46 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.09 | -0.29 |
| Martin ratioReturn relative to average drawdown | 7.24 | 6.78 | +0.47 |
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Drawdowns
MUJ vs. KCTAX - Drawdown Comparison
The maximum MUJ drawdown since its inception was -41.72%, which is greater than KCTAX's maximum drawdown of -17.87%. Use the drawdown chart below to compare losses from any high point for MUJ and KCTAX.
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Drawdown Indicators
| MUJ | KCTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | -17.87% | -23.85% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -3.13% | -6.28% |
Max Drawdown (3Y)Largest decline over 3 years | -11.04% | -6.45% | -4.59% |
Max Drawdown (5Y)Largest decline over 5 years | -32.71% | -17.82% | -14.89% |
Max Drawdown (10Y)Largest decline over 10 years | -32.71% | -17.87% | -14.84% |
Current DrawdownCurrent decline from peak | -4.29% | -2.22% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -9.00% | -2.77% | -6.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 0.96% | +1.36% |
Volatility
MUJ vs. KCTAX - Volatility Comparison
BlackRock MuniHoldings New Jersey Quality Fund (MUJ) has a higher volatility of 1.65% compared to DWS California Tax (KCTAX) at 1.14%. This indicates that MUJ's price experiences larger fluctuations and is considered to be riskier than KCTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUJ | KCTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 1.14% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 6.88% | 2.68% | +4.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.83% | 3.33% | +5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.33% | 4.41% | +5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.12% | 4.28% | +6.84% |
MUJ vs. KCTAX - Expense Ratio Comparison
MUJ has a 2.26% expense ratio, which is higher than KCTAX's 0.76% expense ratio.
Dividends
MUJ vs. KCTAX - Dividend Comparison
MUJ's dividend yield for the trailing twelve months is around 5.41%, more than KCTAX's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KCTAX DWS California Tax | 3.18% | 3.48% | 2.82% | 2.22% | 1.91% | 3.13% | 3.95% | 5.11% | 3.04% | 3.01% | 3.46% | 3.69% |
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 5.41% | 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 KCTAX 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 (1.65%) compared to KCTAX (1.14%). In terms of maximum drawdown, MUJ dropped -41.72% vs KCTAX's -17.87%.
KCTAX currently has the higher Sharpe Ratio (1.96 vs 1.92), 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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