MUJ vs. MPA
MUJ (BlackRock MuniHoldings New Jersey Quality Fund) and MPA (BlackRock MuniYield Pennsylvania Quality Fund) are both Municipal Bonds funds from BlackRock. Both are actively managed. Over the past 10 years, MUJ returned 2.09%/yr vs 0.98%/yr for MPA. Their 0.34 correlation means their historical movements had little consistent relationship. MUJ charges 2.26%/yr vs 2.28%/yr for MPA.
Performance
MUJ vs. MPA - Performance Comparison
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Returns By Period
In the year-to-date period, MUJ achieves a 3.83% return, which is significantly higher than MPA's 1.78% return. Over the past 10 years, MUJ has outperformed MPA with an annualized return of 2.09%, while MPA has yielded a comparatively lower 0.98% annualized return.
MUJ
- 1D
- 0.08%
- 1M
- -2.57%
- 6M
- 0.09%
- YTD
- 3.83%
- 1Y
- 16.02%
- 3Y*
- 8.32%
- 5Y*
- -0.26%
- 10Y*
- 2.09%
- ALL TIME*
- 4.41%
MPA
- 1D
- 0.46%
- 1M
- -3.46%
- 6M
- -1.41%
- YTD
- 1.78%
- 1Y
- 7.65%
- 3Y*
- 4.37%
- 5Y*
- -3.29%
- 10Y*
- 0.98%
- ALL TIME*
- 4.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $352.50K | $256.70K | $315.59K | |
| $969.39K | $870.71K | $1.11M |
MUJ vs. MPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 3.83% | 13.86% | 2.28% | 7.55% | -26.31% | 15.20% | 5.95% | 18.95% | -8.49% | 9.99% |
MPA BlackRock MuniYield Pennsylvania Quality Fund | 1.78% | 1.82% | 6.23% | 9.67% | -31.00% | 17.06% | 9.14% | 18.87% | -8.00% | 7.22% |
Correlation
The correlation between MUJ and MPA is 0.50, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 1998 | 0.35 |
The correlation between MUJ and MPA shifts across timeframes, from 0.34 (all time) to 0.55 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUJ vs. MPA — Risk / Return Rank
MUJ
MPA
MUJ vs. MPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniHoldings New Jersey Quality Fund (MUJ) and BlackRock MuniYield Pennsylvania Quality Fund (MPA). 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 | MPA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.17 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.20 | +0.51 |
| Martin ratioReturn relative to average drawdown | 6.89 | 4.45 | +2.44 |
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Drawdowns
MUJ vs. MPA - Drawdown Comparison
The maximum MUJ drawdown since its inception was -41.72%, smaller than the maximum MPA drawdown of -44.78%. Use the drawdown chart below to compare losses from any high point for MUJ and MPA.
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Drawdown Indicators
| MUJ | MPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | -44.78% | +3.06% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -6.42% | -2.99% |
Max Drawdown (3Y)Largest decline over 3 years | -11.04% | -14.75% | +3.71% |
Max Drawdown (5Y)Largest decline over 5 years | -32.71% | -38.10% | +5.39% |
Max Drawdown (10Y)Largest decline over 10 years | -32.71% | -38.10% | +5.39% |
Current DrawdownCurrent decline from peak | -4.21% | -19.00% | +14.79% |
Average DrawdownAverage peak-to-trough decline | -9.00% | -9.80% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 1.72% | +0.61% |
Volatility
MUJ vs. MPA - Volatility Comparison
The current volatility for BlackRock MuniHoldings New Jersey Quality Fund (MUJ) is 1.60%, while BlackRock MuniYield Pennsylvania Quality Fund (MPA) has a volatility of 2.04%. This indicates that MUJ experiences smaller price fluctuations and is considered to be less risky than MPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUJ | MPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 2.04% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 6.86% | 6.11% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 8.10% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.33% | 12.07% | -1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.12% | 12.31% | -1.19% |
MUJ vs. MPA - Expense Ratio Comparison
MUJ has a 2.26% expense ratio, which is lower than MPA's 2.28% expense ratio.
Dividends
MUJ vs. MPA - Dividend Comparison
MUJ's dividend yield for the trailing twelve months is around 5.41%, less than MPA's 5.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MPA BlackRock MuniYield Pennsylvania Quality Fund | 5.90% | 6.98% | 6.02% | 3.63% | 5.60% | 3.94% | 4.12% | 4.16% | 5.40% | 5.22% | 5.56% | 5.94% |
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 MPA have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPA has higher volatility (2.04%) compared to MUJ (1.60%). In terms of maximum drawdown, MUJ dropped -41.72% vs MPA's -44.78%.
MUJ currently has the higher Sharpe Ratio (1.84 vs 0.95), 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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