MUJ vs. PCDIX
MUJ (BlackRock MuniHoldings New Jersey Quality Fund) and PCDIX (PIMCO California Short Duration Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, MUJ returned 2.43%/yr vs 1.71%/yr for PCDIX. At a 0.21 correlation, their price movements are largely independent. MUJ charges 2.26%/yr vs 0.33%/yr for PCDIX.
Performance
MUJ vs. PCDIX - Performance Comparison
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Returns By Period
In the year-to-date period, MUJ achieves a 5.53% return, which is significantly higher than PCDIX's 0.93% return. Over the past 10 years, MUJ has outperformed PCDIX with an annualized return of 2.43%, while PCDIX has yielded a comparatively lower 1.71% annualized return.
MUJ
- 1D
- -0.81%
- 1M
- 1.18%
- YTD
- 5.53%
- 6M
- 4.05%
- 1Y
- 19.72%
- 3Y*
- 9.09%
- 5Y*
- -0.02%
- 10Y*
- 2.43%
PCDIX
- 1D
- 0.10%
- 1M
- 0.53%
- YTD
- 0.93%
- 6M
- 1.28%
- 1Y
- 3.95%
- 3Y*
- 3.86%
- 5Y*
- 2.01%
- 10Y*
- 1.71%
MUJ vs. PCDIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 5.53% | 13.86% | 2.28% | 7.55% | -26.31% | 15.20% | 5.95% | 18.95% | -8.49% | 9.99% |
PCDIX PIMCO California Short Duration Municipal Income Fund | 0.93% | 5.00% | 3.12% | 3.59% | -2.41% | 0.16% | 1.75% | 2.96% | 1.35% | 1.69% |
Correlation
The correlation between MUJ and PCDIX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2006 | 0.21 |
The correlation between MUJ and PCDIX shifts across timeframes, from 0.21 (all time) to 0.40 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUJ vs. PCDIX — Risk / Return Rank
MUJ
PCDIX
MUJ vs. PCDIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniHoldings New Jersey Quality Fund (MUJ) and PIMCO California Short Duration Municipal Income Fund (PCDIX). 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 | PCDIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 2.30 | -0.87 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 3.90 | -1.80 |
| Martin ratioReturn relative to average drawdown | 8.46 | 13.20 | -4.75 |
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Drawdowns
MUJ vs. PCDIX - Drawdown Comparison
The maximum MUJ drawdown since its inception was -41.72%, which is greater than PCDIX's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for MUJ and PCDIX.
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Drawdown Indicators
| MUJ | PCDIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | -4.52% | -37.20% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -1.02% | -8.39% |
Max Drawdown (3Y)Largest decline over 3 years | -12.17% | -1.66% | -10.51% |
Max Drawdown (5Y)Largest decline over 5 years | -32.71% | -4.52% | -28.19% |
Max Drawdown (10Y)Largest decline over 10 years | -32.71% | -4.52% | -28.19% |
Current DrawdownCurrent decline from peak | -2.64% | -0.14% | -2.50% |
Average DrawdownAverage peak-to-trough decline | -9.03% | -0.43% | -8.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 0.30% | +2.04% |
Volatility
MUJ vs. PCDIX - Volatility Comparison
BlackRock MuniHoldings New Jersey Quality Fund (MUJ) has a higher volatility of 2.31% compared to PIMCO California Short Duration Municipal Income Fund (PCDIX) at 0.35%. This indicates that MUJ's price experiences larger fluctuations and is considered to be riskier than PCDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUJ | PCDIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 0.35% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 6.95% | 0.91% | +6.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.99% | 1.22% | +7.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.37% | 1.69% | +8.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.20% | 1.56% | +9.64% |
MUJ vs. PCDIX - Expense Ratio Comparison
MUJ has a 2.26% expense ratio, which is higher than PCDIX's 0.33% expense ratio.
Dividends
MUJ vs. PCDIX - Dividend Comparison
MUJ's dividend yield for the trailing twelve months is around 5.30%, more than PCDIX's 2.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 5.30% | 5.45% | 5.53% | 4.13% | 6.40% | 4.77% | 4.78% | 4.03% | 5.34% | 5.55% | 6.00% | 5.69% |
PCDIX PIMCO California Short Duration Municipal Income Fund | 2.83% | 3.80% | 3.38% | 2.25% | 1.16% | 1.07% | 1.23% | 1.79% | 1.55% | 1.27% | 1.02% | 0.91% |
Frequently Asked Questions
MUJ and PCDIX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUJ has higher volatility (2.31%) compared to PCDIX (0.35%). In terms of maximum drawdown, MUJ dropped -41.72% vs PCDIX's -4.52%.
PCDIX currently has the higher Sharpe Ratio (3.28 vs 2.21), 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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