NJTFX vs. FZROX
Compare and contrast key facts about T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) and Fidelity ZERO Total Market Index Fund (FZROX).
NJTFX is managed by T. Rowe Price. It was launched on Apr 29, 1991. FZROX is managed by Fidelity.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NJTFX or FZROX.
Key characteristics
| NJTFX | FZROX | |
|---|---|---|
| YTD Return | 2.78% | 26.41% |
| 1Y Return | 8.62% | 40.58% |
| 3Y Return (Ann) | -0.20% | 9.00% |
| 5Y Return (Ann) | 1.47% | 15.47% |
| Sharpe Ratio | 2.58 | 3.09 |
| Sortino Ratio | 3.95 | 4.11 |
| Omega Ratio | 1.59 | 1.57 |
| Calmar Ratio | 0.95 | 4.45 |
| Martin Ratio | 12.22 | 20.14 |
| Ulcer Index | 0.71% | 1.96% |
| Daily Std Dev | 3.38% | 12.76% |
| Max Drawdown | -17.09% | -34.96% |
| Current Drawdown | -1.28% | 0.00% |
Correlation
The correlation between NJTFX and FZROX is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
NJTFX vs. FZROX - Performance Comparison
In the year-to-date period, NJTFX achieves a 2.78% return, which is significantly lower than FZROX's 26.41% 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. FZROX - Expense Ratio Comparison
NJTFX has a 0.56% expense ratio, which is higher than FZROX's 0.00% expense ratio.
Risk-Adjusted Performance
NJTFX vs. FZROX - 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 ZERO Total Market Index Fund (FZROX). 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. FZROX - Dividend Comparison
NJTFX's dividend yield for the trailing twelve months is around 3.12%, more than FZROX's 1.08% 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% |
FZROX Fidelity ZERO Total Market Index Fund | 1.08% | 1.36% | 1.57% | 1.08% | 1.27% | 1.45% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NJTFX vs. FZROX - Drawdown Comparison
The maximum NJTFX drawdown since its inception was -17.09%, smaller than the maximum FZROX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for NJTFX and FZROX. For additional features, visit the drawdowns tool.
Volatility
NJTFX vs. FZROX - Volatility Comparison
The current volatility for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) is 1.62%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 4.06%. This indicates that NJTFX experiences smaller price fluctuations and is considered to be less risky than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.