NJTFX vs. FNJHX
Compare and contrast key facts about T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) and Fidelity New Jersey Municipal Income Fund (FNJHX).
NJTFX is managed by T. Rowe Price. It was launched on Apr 29, 1991. FNJHX is managed by Fidelity. It was launched on Jan 1, 1988.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NJTFX or FNJHX.
Key characteristics
| NJTFX | FNJHX | |
|---|---|---|
| YTD Return | 2.78% | 1.66% |
| 1Y Return | 8.62% | 7.79% |
| 3Y Return (Ann) | -0.20% | -0.19% |
| 5Y Return (Ann) | 1.47% | 1.35% |
| 10Y Return (Ann) | 1.85% | 2.43% |
| Sharpe Ratio | 2.58 | 2.14 |
| Sortino Ratio | 3.95 | 3.31 |
| Omega Ratio | 1.59 | 1.50 |
| Calmar Ratio | 0.95 | 0.89 |
| Martin Ratio | 12.22 | 7.82 |
| Ulcer Index | 0.71% | 0.92% |
| Daily Std Dev | 3.38% | 3.40% |
| Max Drawdown | -17.09% | -14.65% |
| Current Drawdown | -1.28% | -1.53% |
Correlation
The correlation between NJTFX and FNJHX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
NJTFX vs. FNJHX - Performance Comparison
In the year-to-date period, NJTFX achieves a 2.78% return, which is significantly higher than FNJHX's 1.66% return. Over the past 10 years, NJTFX has underperformed FNJHX with an annualized return of 1.85%, while FNJHX has yielded a comparatively higher 2.43% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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NJTFX vs. FNJHX - Expense Ratio Comparison
NJTFX has a 0.56% expense ratio, which is higher than FNJHX's 0.47% expense ratio.
Risk-Adjusted Performance
NJTFX vs. FNJHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) and Fidelity New Jersey Municipal Income Fund (FNJHX). 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.
Dividends
NJTFX vs. FNJHX - Dividend Comparison
NJTFX's dividend yield for the trailing twelve months is around 3.12%, more than FNJHX's 2.90% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 3.12% | 2.84% | 2.70% | 2.37% | 2.98% | 2.84% | 3.13% | 3.14% | 1.10% | 0.00% | 0.00% | 0.02% |
FNJHX Fidelity New Jersey Municipal Income Fund | 2.90% | 2.67% | 2.38% | 1.95% | 2.36% | 2.70% | 2.93% | 2.93% | 3.11% | 3.33% | 3.27% | 4.02% |
Drawdowns
NJTFX vs. FNJHX - Drawdown Comparison
The maximum NJTFX drawdown since its inception was -17.09%, which is greater than FNJHX's maximum drawdown of -14.65%. Use the drawdown chart below to compare losses from any high point for NJTFX and FNJHX. For additional features, visit the drawdowns tool.
Volatility
NJTFX vs. FNJHX - Volatility Comparison
T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) and Fidelity New Jersey Municipal Income Fund (FNJHX) have volatilities of 1.62% and 1.61%, 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.