NJTFX vs. IBIT
NJTFX (T. Rowe Price New Jersey Tax Free Bond Fund) and IBIT (iShares Bitcoin Trust ETF) are both funds - NJTFX is a Municipal Bonds fund managed by T. Rowe Price, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, NJTFX returned 6.59% vs -44.19% for IBIT. Their -0.04 correlation means they have often moved in opposite directions in the past. NJTFX charges 0.56%/yr vs 0.25%/yr for IBIT.
Performance
NJTFX vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, NJTFX achieves a 0.63% return, which is significantly higher than IBIT's -26.71% return.
NJTFX
- 1D
- 0.00%
- 1M
- -2.08%
- 6M
- -0.09%
- YTD
- 0.63%
- 1Y
- 6.59%
- 3Y*
- 4.59%
- 5Y*
- 1.08%
- 10Y*
- 2.23%
- ALL TIME*
- 4.51%
IBIT
- 1D
- 0.64%
- 1M
- 4.36%
- 6M
- -15.96%
- YTD
- -26.71%
- 1Y
- -44.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.29B | $1.33B | $1.64B | |
| $0.00 | $0.00 | $0.00 |
NJTFX vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 0.63% | 5.00% | 4.29% |
IBIT iShares Bitcoin Trust ETF | -26.71% | -6.41% | 89.87% |
Correlation
The correlation between NJTFX and IBIT is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | -0.04 |
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Return for Risk
NJTFX vs. IBIT — Risk / Return Rank
NJTFX
IBIT
NJTFX vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) and iShares Bitcoin Trust ETF (IBIT). 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.
| NJTFX | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.48 | ||
| Sortino ratioReturn per unit of downside risk | +5.24 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 0.84 | +0.78 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | -0.83 | +3.42 |
| Martin ratioReturn relative to average drawdown | 9.00 | -1.27 | +10.27 |
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Drawdowns
NJTFX vs. IBIT - Drawdown Comparison
The maximum NJTFX drawdown since its inception was -15.19%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for NJTFX and IBIT.
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Drawdown Indicators
| NJTFX | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.19% | -53.30% | +38.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -53.30% | +50.71% |
Max Drawdown (3Y)Largest decline over 3 years | -5.55% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.19% | — | — |
Current DrawdownCurrent decline from peak | -2.08% | -48.95% | +46.87% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -18.34% | +16.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 34.94% | -34.20% |
Volatility
NJTFX vs. IBIT - Volatility Comparison
The current volatility for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) is 0.89%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.29%. This indicates that NJTFX experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NJTFX | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 8.29% | -7.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 33.07% | -30.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 44.40% | -41.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.01% | 49.53% | -45.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.87% | 49.53% | -45.66% |
NJTFX vs. IBIT - Expense Ratio Comparison
NJTFX has a 0.56% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
NJTFX vs. IBIT - Dividend Comparison
NJTFX's dividend yield for the trailing twelve months is around 3.98%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 3.98% | 4.44% | 4.27% | 3.27% | 2.03% | 2.56% | 2.79% | 2.84% | 3.13% | 3.13% | 3.26% | 3.36% |
Frequently Asked Questions
NJTFX and IBIT have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (8.29%) compared to NJTFX (0.89%). In terms of maximum drawdown, NJTFX dropped -15.19% vs IBIT's -53.30%.
NJTFX currently has the higher Sharpe Ratio (2.48 vs -1.00), 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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