NJTFX vs. PZA

In the year-to-date period, NJTFX achieves a -1.49% return, which is significantly higher than PZA's -2.98% return. Over the past 10 years, NJTFX has underperformed PZA with an annualized return of 1.79%, while PZA has yielded a comparatively higher 1.97% annualized return.

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NJTFX has a 0.56% expense ratio, which is higher than PZA's 0.28% expense ratio.

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) and Invesco National AMT-Free Municipal Bond ETF (PZA). 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.

The current NJTFX Sharpe Ratio is 0.25, which is higher than the PZA Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of NJTFX and PZA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

NJTFX's dividend yield for the trailing twelve months is around 3.33%, less than PZA's 3.42% yield.

The maximum NJTFX drawdown since its inception was -17.09%, smaller than the maximum PZA drawdown of -24.49%. Use the drawdown chart below to compare losses from any high point for NJTFX and PZA. For additional features, visit the drawdowns tool.

The current volatility for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) is 1.98%, while Invesco National AMT-Free Municipal Bond ETF (PZA) has a volatility of 2.38%. This indicates that NJTFX experiences smaller price fluctuations and is considered to be less risky than PZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.