NMNJX vs. MUJ
NMNJX (Nuveen New Jersey Municipal Bond Fund) and MUJ (BlackRock MuniHoldings New Jersey Quality Fund) are both Municipal Bonds funds. Over the past 10 years, NMNJX returned 2.17%/yr vs 2.43%/yr for MUJ. At a 0.27 correlation, their price movements are largely independent. NMNJX charges 0.59%/yr vs 2.26%/yr for MUJ.
Performance
NMNJX vs. MUJ - Performance Comparison
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Returns By Period
In the year-to-date period, NMNJX achieves a 1.49% return, which is significantly lower than MUJ's 5.53% return. Over the past 10 years, NMNJX has underperformed MUJ with an annualized return of 2.17%, while MUJ has yielded a comparatively higher 2.43% annualized return.
NMNJX
- 1D
- 0.09%
- 1M
- 1.61%
- YTD
- 1.49%
- 6M
- 1.97%
- 1Y
- 7.28%
- 3Y*
- 3.68%
- 5Y*
- 0.72%
- 10Y*
- 2.17%
MUJ
- 1D
- -0.81%
- 1M
- 1.18%
- YTD
- 5.53%
- 6M
- 4.05%
- 1Y
- 19.72%
- 3Y*
- 9.09%
- 5Y*
- -0.02%
- 10Y*
- 2.43%
NMNJX vs. MUJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMNJX Nuveen New Jersey Municipal Bond Fund | 1.49% | 3.96% | 1.43% | 7.37% | -10.25% | 2.23% | 4.53% | 8.33% | 1.14% | 6.86% |
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 5.53% | 13.86% | 2.28% | 7.55% | -26.31% | 15.20% | 5.95% | 18.95% | -8.49% | 9.99% |
Correlation
The correlation between NMNJX and MUJ is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 1998 | 0.27 |
The correlation between NMNJX and MUJ shifts across timeframes, from 0.27 (all time) to 0.47 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NMNJX vs. MUJ — Risk / Return Rank
NMNJX
MUJ
NMNJX vs. MUJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen New Jersey Municipal Bond Fund (NMNJX) and BlackRock MuniHoldings New Jersey Quality Fund (MUJ). 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.
| NMNJX | MUJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.43 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 2.11 | +0.52 |
| Martin ratioReturn relative to average drawdown | 8.54 | 8.46 | +0.08 |
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Drawdowns
NMNJX vs. MUJ - Drawdown Comparison
The maximum NMNJX drawdown since its inception was -16.18%, smaller than the maximum MUJ drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for NMNJX and MUJ.
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Drawdown Indicators
| NMNJX | MUJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.18% | -41.72% | +25.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -9.41% | +6.61% |
Max Drawdown (3Y)Largest decline over 3 years | -7.02% | -12.17% | +5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -32.71% | +16.53% |
Max Drawdown (10Y)Largest decline over 10 years | -16.18% | -32.71% | +16.53% |
Current DrawdownCurrent decline from peak | -0.39% | -2.64% | +2.25% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -9.03% | +7.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 2.34% | -1.48% |
Volatility
NMNJX vs. MUJ - Volatility Comparison
The current volatility for Nuveen New Jersey Municipal Bond Fund (NMNJX) is 0.70%, while BlackRock MuniHoldings New Jersey Quality Fund (MUJ) has a volatility of 2.31%. This indicates that NMNJX experiences smaller price fluctuations and is considered to be less risky than MUJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NMNJX | MUJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 2.31% | -1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 6.95% | -4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.81% | 8.99% | -6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.54% | 10.37% | -5.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.64% | 11.20% | -6.56% |
NMNJX vs. MUJ - Expense Ratio Comparison
NMNJX has a 0.59% expense ratio, which is lower than MUJ's 2.26% expense ratio.
Dividends
NMNJX vs. MUJ - Dividend Comparison
NMNJX's dividend yield for the trailing twelve months is around 3.05%, less than MUJ's 5.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUJ BlackRock MuniHoldings New Jersey Quality Fund | 5.30% | 5.45% | 5.53% | 4.13% | 6.40% | 4.77% | 4.78% | 4.03% | 5.34% | 5.55% | 6.00% | 5.69% |
NMNJX Nuveen New Jersey Municipal Bond Fund | 3.05% | 3.35% | 3.40% | 3.02% | 2.81% | 2.55% | 2.84% | 3.41% | 4.05% | 3.77% | 3.91% | 3.74% |
Frequently Asked Questions
NMNJX and MUJ have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUJ has higher volatility (2.31%) compared to NMNJX (0.70%). In terms of maximum drawdown, NMNJX dropped -16.18% vs MUJ's -41.72%.
NMNJX currently has the higher Sharpe Ratio (2.61 vs 2.21), 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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