PDSZX vs. NJTFX
PDSZX (PGIM Short Duration Muni Fund) and NJTFX (T. Rowe Price New Jersey Tax Free Bond Fund) are both Municipal Bonds funds. Over the past 10 years, PDSZX returned 1.71%/yr vs 2.23%/yr for NJTFX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. PDSZX charges 0.32%/yr vs 0.56%/yr for NJTFX.
Performance
PDSZX vs. NJTFX - Performance Comparison
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Returns By Period
In the year-to-date period, PDSZX achieves a 0.74% return, which is significantly higher than NJTFX's 0.63% return. Over the past 10 years, PDSZX has underperformed NJTFX with an annualized return of 1.71%, while NJTFX has yielded a comparatively higher 2.23% annualized return.
PDSZX
- 1D
- 0.00%
- 1M
- -0.90%
- 6M
- -0.24%
- YTD
- 0.74%
- 1Y
- 3.01%
- 3Y*
- 3.54%
- 5Y*
- 0.94%
- 10Y*
- 1.71%
- ALL TIME*
- 2.03%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PDSZX vs. NJTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDSZX PGIM Short Duration Muni Fund | 0.74% | 4.64% | 2.39% | 4.23% | -6.16% | 0.36% | 2.85% | 5.92% | 1.29% | 5.11% |
NJTFX T. Rowe Price New Jersey Tax Free Bond Fund | 0.63% | 5.00% | 4.01% | 7.17% | -10.24% | 2.67% | 4.73% | 6.65% | 1.31% | 5.30% |
Correlation
The correlation between PDSZX and NJTFX is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.73 |
The correlation between PDSZX and NJTFX shifts across timeframes, from 0.56 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PDSZX vs. NJTFX — Risk / Return Rank
PDSZX
NJTFX
PDSZX vs. NJTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Short Duration Muni Fund (PDSZX) and T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX). 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.
| PDSZX | NJTFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.61 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 2.59 | -0.98 |
| Martin ratioReturn relative to average drawdown | 5.42 | 9.00 | -3.58 |
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Drawdowns
PDSZX vs. NJTFX - Drawdown Comparison
The maximum PDSZX drawdown since its inception was -10.14%, smaller than the maximum NJTFX drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for PDSZX and NJTFX.
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Drawdown Indicators
| PDSZX | NJTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.14% | -15.19% | +5.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.87% | -2.59% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -2.71% | -5.55% | +2.84% |
Max Drawdown (5Y)Largest decline over 5 years | -9.20% | -15.12% | +5.92% |
Max Drawdown (10Y)Largest decline over 10 years | -10.14% | -15.19% | +5.05% |
Current DrawdownCurrent decline from peak | -0.98% | -2.08% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -1.81% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.74% | -0.18% |
Volatility
PDSZX vs. NJTFX - Volatility Comparison
The current volatility for PGIM Short Duration Muni Fund (PDSZX) is 0.49%, while T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) has a volatility of 0.89%. This indicates that PDSZX experiences smaller price fluctuations and is considered to be less risky than NJTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDSZX | NJTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 0.89% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.33% | 2.13% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.59% | 2.71% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.25% | 4.01% | -1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.59% | 3.87% | -1.28% |
PDSZX vs. NJTFX - Expense Ratio Comparison
PDSZX has a 0.32% expense ratio, which is lower than NJTFX's 0.56% expense ratio.
Dividends
PDSZX vs. NJTFX - Dividend Comparison
PDSZX's dividend yield for the trailing twelve months is around 2.99%, less than NJTFX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PDSZX PGIM Short Duration Muni Fund | 2.99% | 3.10% | 2.56% | 1.76% | 1.21% | 1.03% | 2.01% | 2.31% | 2.37% | 2.28% | 2.34% | 2.40% |
Frequently Asked Questions
PDSZX and NJTFX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NJTFX has higher volatility (0.89%) compared to PDSZX (0.49%). In terms of maximum drawdown, PDSZX dropped -10.14% vs NJTFX's -15.19%.
NJTFX currently has the higher Sharpe Ratio (2.48 vs 1.90), 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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