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 9.51% vs -38.74% for IBIT. At a correlation of -0.04, they often move in opposite directions. 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 1.94% return, which is significantly higher than IBIT's -25.48% return.
NJTFX
- 1D
- 0.17%
- 1M
- 0.73%
- YTD
- 1.94%
- 6M
- 2.72%
- 1Y
- 9.51%
- 3Y*
- 4.92%
- 5Y*
- 1.57%
- 10Y*
- 2.49%
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NJTFX vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 1.94% | 5.00% | 4.29% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between NJTFX and IBIT is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 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.
| NJTFX | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.39 | ||
| Sortino ratioReturn per unit of downside risk | +6.88 | ||
| Omega ratioGain probability vs. loss probability | 1.92 | 0.86 | +1.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | -0.79 | +4.43 |
| Martin ratioReturn relative to average drawdown | 13.78 | -1.36 | +15.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NJTFX | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.50 | -0.89 | +4.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.27 | 0.30 | +0.98 |
Drawdowns
NJTFX vs. IBIT - Drawdown Comparison
The maximum NJTFX drawdown since its inception was -15.19%, smaller than the maximum IBIT drawdown of -49.36%. 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% | -49.36% | +34.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -49.36% | +46.77% |
Max Drawdown (3Y)Largest decline over 3 years | -5.69% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.19% | — | — |
Current DrawdownCurrent decline from peak | -0.01% | -48.10% | +48.09% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -16.02% | +14.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 28.44% | -27.76% |
Volatility
NJTFX vs. IBIT - Volatility Comparison
The current volatility for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) is 1.06%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. 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 | 1.06% | 9.50% | -8.44% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 34.44% | -32.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 43.73% | -41.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.99% | 50.19% | -46.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.87% | 50.19% | -46.32% |
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 4.45%, 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 | 4.45% | 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 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to NJTFX (1.06%). In terms of maximum drawdown, NJTFX dropped -15.19% vs IBIT's -49.36%.
NJTFX currently has the higher Sharpe Ratio (3.50 vs -0.89), 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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