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NJTFX vs. THTA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NJTFX vs. THTA

Last updated Jun 24, 2026

NJTFX (T. Rowe Price New Jersey Tax Free Bond Fund) and THTA (SoFi Enhanced Yield ETF) are both funds - NJTFX is a Municipal Bonds fund managed by T. Rowe Price, while THTA is a Derivative Income fund actively managed by SoFi. Over the past year, NJTFX returned 8.91% vs 16.54% for THTA. At a 0.03 correlation, their price movements are largely independent. NJTFX charges 0.56%/yr vs 0.49%/yr for THTA.

Performance

NJTFX vs. THTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) and SoFi Enhanced Yield ETF (THTA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NJTFX achieves a 2.03% return, which is significantly lower than THTA's 7.57% return.

NJTFX

1D
-0.09%
1M
1.62%
YTD
2.03%
6M
2.81%
1Y
8.91%
3Y*
4.77%
5Y*
1.55%
10Y*
2.38%

THTA

1D
-0.06%
1M
0.77%
YTD
7.57%
6M
8.24%
1Y
16.54%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

NJTFX vs. THTA - Yearly Performance Comparison

2026 (YTD)202520242023
NJTFX
T. Rowe Price New Jersey Tax Free Bond Fund		2.03%5.00%4.01%5.10%
THTA
SoFi Enhanced Yield ETF		7.57%-10.24%7.31%0.99%

Correlation

The correlation between NJTFX and THTA is 0.05, 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

0.05

Correlation (All Time)
Calculated using the full available price history since Nov 15, 2023

0.03

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

T. Rowe Price New Jersey Tax Free Bond Fund

SoFi Enhanced Yield ETF

Often compared with NJTFX:
NJTFX vs. FNJHXNJTFX vs. PZANJTFX vs. FZROXNJTFX vs. MUBNJTFX vs. VTEBNJTFX vs. WEEKNJTFX vs. VNJTX
Often compared with THTA:
THTA vs. CSHITHTA vs. JEPQTHTA vs. SPAXXTHTA vs. HYBLTHTA vs. SVOLTHTA vs. FAGIXTHTA vs. HYGH

Return for Risk

NJTFX vs. THTA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NJTFX
NJTFX Risk / Return Rank: 8989
Overall Rank
NJTFX Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
NJTFX Sortino Ratio Rank: 9797
Sortino Ratio Rank
NJTFX Omega Ratio Rank: 9797
Omega Ratio Rank
NJTFX Calmar Ratio Rank: 8181
Calmar Ratio Rank
NJTFX Martin Ratio Rank: 7575
Martin Ratio Rank
THTA
THTA Risk / Return Rank: 9494
Overall Rank
THTA Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
THTA Sortino Ratio Rank: 9393
Sortino Ratio Rank
THTA Omega Ratio Rank: 9696
Omega Ratio Rank
THTA Calmar Ratio Rank: 9393
Calmar Ratio Rank
THTA Martin Ratio Rank: 9898
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NJTFX vs. THTA - 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 SoFi Enhanced Yield ETF (THTA). 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.

NJTFXTHTADifference
Sharpe ratioReturn per unit of total volatility
3.39
2.90

+0.49

Sortino ratioReturn per unit of downside risk
5.49
4.29

+1.20

Omega ratioGain probability vs. loss probability

1.90

1.77

+0.13

Calmar ratioReturn relative to maximum drawdown

3.49

6.30

-2.81

Martin ratioReturn relative to average drawdown

13.19

52.38

-39.19

NJTFX vs. THTA - Sharpe Ratio Comparison

The current NJTFX Sharpe Ratio is 3.39, which is comparable to the THTA Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of NJTFX and THTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NJTFX vs. THTA - Drawdown Comparison

The maximum NJTFX drawdown since its inception was -15.19%, smaller than the maximum THTA drawdown of -31.41%. Use the drawdown chart below to compare losses from any high point for NJTFX and THTA.

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Drawdown Indicators

NJTFXTHTADifference

Max Drawdown

Largest peak-to-trough decline

-15.19%

-31.41%

+16.22%

Max Drawdown (1Y)

Largest decline over 1 year

-2.59%

-2.64%

+0.05%

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 Drawdown

Current decline from peak

-0.09%

-6.17%

+6.08%

Average Drawdown

Average peak-to-trough decline

-1.81%

-7.49%

+5.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.68%

0.32%

+0.36%

Volatility

NJTFX vs. THTA - Volatility Comparison

The current volatility for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) is 0.71%, while SoFi Enhanced Yield ETF (THTA) has a volatility of 0.96%. This indicates that NJTFX experiences smaller price fluctuations and is considered to be less risky than THTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NJTFXTHTADifference

Volatility (1M)

Calculated over the trailing 1-month period

0.71%

0.96%

-0.25%

Volatility (6M)

Calculated over the trailing 6-month period

1.96%

4.07%

-2.11%

Volatility (1Y)

Calculated over the trailing 1-year period

2.67%

5.72%

-3.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.99%

20.04%

-16.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.87%

20.04%

-16.17%

NJTFX vs. THTA - Expense Ratio Comparison

NJTFX has a 0.56% expense ratio, which is higher than THTA's 0.49% expense ratio.

Dividends

NJTFX vs. THTA - Dividend Comparison

NJTFX's dividend yield for the trailing twelve months is around 4.44%, less than THTA's 11.15% yield.

PositionTTM20252024202320222021202020192018201720162015
NJTFX
T. Rowe Price New Jersey Tax Free Bond Fund		4.44%4.44%4.27%3.27%2.03%2.56%2.79%2.84%3.13%3.13%3.26%3.36%
THTA
SoFi Enhanced Yield ETF		11.15%12.66%12.44%0.58%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

NJTFX and THTA have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

THTA has higher volatility (0.96%) compared to NJTFX (0.71%). In terms of maximum drawdown, NJTFX dropped -15.19% vs THTA's -31.41%.

NJTFX currently has the higher Sharpe Ratio (3.39 vs 2.90), 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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