PMNPX vs. MUJ

Last updated Aug 1, 2026

PMNPX (PIMCO National Intermediate Municipal Bond Fund) and MUJ (BlackRock MuniHoldings New Jersey Quality Fund) are both Municipal Bonds funds. Over the past 10 years, PMNPX returned 2.01%/yr vs 2.19%/yr for MUJ. Their 0.34 correlation means their historical movements had little consistent relationship. PMNPX charges 0.55%/yr vs 2.26%/yr for MUJ.

Performance

PMNPX vs. MUJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO National Intermediate Municipal Bond Fund (PMNPX) and BlackRock MuniHoldings New Jersey Quality Fund (MUJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMNPX achieves a 0.06% return, which is significantly lower than MUJ's 3.74% return. Over the past 10 years, PMNPX has underperformed MUJ with an annualized return of 2.01%, while MUJ has yielded a comparatively higher 2.19% annualized return.

PMNPX

• 1D: -0.19%
• 1M: -1.63%
• 6M: -0.89%
• YTD: 0.06%
• 1Y: 3.84%
• 3Y*: 3.52%
• 5Y*: 1.12%
• 10Y*: 2.01%
• ALL TIME*: 2.52%

MUJ

• 1D: -0.58%
• 1M: -2.65%
• 6M: 0.17%
• YTD: 3.74%
• 1Y: 15.93%
• 3Y*: 7.87%
• 5Y*: -0.17%
• 10Y*: 2.19%
• ALL TIME*: 4.41%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MUJ BlackRock MuniHoldings New Jersey Quality Fund	$967.57K	$866.46K	$1.13M
PMNPX PIMCO National Intermediate Municipal Bond Fund	$0.00	$0.00	$0.00

PMNPX vs. MUJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMNPX PIMCO National Intermediate Municipal Bond Fund	0.06%	5.05%	2.08%	6.27%	-6.64%	0.86%	4.46%	6.83%	0.99%	5.21%
MUJ BlackRock MuniHoldings New Jersey Quality Fund	3.74%	13.86%	2.28%	7.55%	-26.31%	15.20%	5.95%	18.95%	-8.49%	9.99%

Correlation

The correlation between PMNPX and MUJ is 0.41, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.41
Correlation (3Y) Balances recent behavior with more history.	0.50
Correlation (5Y) Shows whether the relationship held over a longer period.	0.47
Correlation (10Y) Provides a long-term view across more market conditions.	0.40
Correlation (All Time) Calculated using the full available price history since Jun 1, 2012	0.34

The correlation between PMNPX and MUJ shifts across timeframes, from 0.34 (all time) to 0.50 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PMNPX vs. MUJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PMNPX

PMNPX Risk / Return Rank: 65
PMNPX Sharpe Ratio Rank: 80
PMNPX Sortino Ratio Rank: 82
PMNPX Omega Ratio Rank: 87
PMNPX Calmar Ratio Rank: 44
PMNPX Martin Ratio Rank: 32

MUJ

MUJ Risk / Return Rank: 67
MUJ Sharpe Ratio Rank: 80
MUJ Sortino Ratio Rank: 80
MUJ Omega Ratio Rank: 80
MUJ Calmar Ratio Rank: 45
MUJ Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PMNPX vs. MUJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO National Intermediate Municipal Bond Fund (PMNPX) 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.

	PMNPX	MUJ	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.92	+0.02
Sortino ratio: Return per unit of downside risk	2.90	2.78	+0.12
Omega ratio: Gain probability vs. loss probability	1.45	1.37	+0.07
Calmar ratio: Return relative to maximum drawdown	1.80	1.79	+0.01
Martin ratio: Return relative to average drawdown	5.00	7.24	-2.24

PMNPX vs. MUJ - Sharpe Ratio Comparison

The current PMNPX Sharpe Ratio is 1.94, which is comparable to the MUJ Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of PMNPX and MUJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PMNPX vs. MUJ - Drawdown Comparison

The maximum PMNPX drawdown since its inception was -11.33%, smaller than the maximum MUJ drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for PMNPX and MUJ.

Drawdown Indicators

	PMNPX	MUJ	Difference
Max Drawdown Largest peak-to-trough decline	-11.33%	-41.72%	+30.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.55%	-9.41%	+6.86%
Max Drawdown (3Y) Largest decline over 3 years	-3.78%	-11.04%	+7.26%
Max Drawdown (5Y) Largest decline over 5 years	-11.33%	-32.71%	+21.38%
Max Drawdown (10Y) Largest decline over 10 years	-11.33%	-32.71%	+21.38%
Current Drawdown Current decline from peak	-2.01%	-4.29%	+2.28%
Average Drawdown Average peak-to-trough decline	-1.84%	-9.00%	+7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	2.32%	-1.41%

Volatility

PMNPX vs. MUJ - Volatility Comparison

The current volatility for PIMCO National Intermediate Municipal Bond Fund (PMNPX) is 0.79%, while BlackRock MuniHoldings New Jersey Quality Fund (MUJ) has a volatility of 1.65%. This indicates that PMNPX 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.

Volatility by Period

	PMNPX	MUJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	1.65%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	1.90%	6.88%	-4.98%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	8.83%	-6.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.19%	10.33%	-7.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.20%	11.12%	-7.92%

PMNPX vs. MUJ - Expense Ratio Comparison

PMNPX has a 0.55% expense ratio, which is lower than MUJ's 2.26% expense ratio.

Dividends

PMNPX vs. MUJ - Dividend Comparison

PMNPX's dividend yield for the trailing twelve months is around 3.22%, less than MUJ's 5.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MUJ BlackRock MuniHoldings New Jersey Quality Fund	5.41%	5.45%	5.53%	4.13%	6.40%	4.77%	4.78%	4.03%	5.34%	5.55%	6.00%	5.69%
PMNPX PIMCO National Intermediate Municipal Bond Fund	3.22%	3.43%	3.63%	2.70%	1.68%	1.86%	1.96%	2.34%	2.60%	2.38%	2.13%	2.14%

Frequently Asked Questions

Can I hold both PMNPX and MUJ in my portfolio?

PMNPX and MUJ have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMNPX or MUJ?

MUJ has higher volatility (1.65%) compared to PMNPX (0.79%). In terms of maximum drawdown, PMNPX dropped -11.33% vs MUJ's -41.72%.

Which has better risk-adjusted returns?

PMNPX currently has the higher Sharpe Ratio (1.94 vs 1.92), 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.