PZA vs. NJTFX

In the year-to-date period, PZA achieves a -3.93% return, which is significantly lower than NJTFX's -1.93% return. Over the past 10 years, PZA has outperformed NJTFX with an annualized return of 1.92%, while NJTFX has yielded a comparatively lower 1.77% annualized return.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco National AMT-Free Municipal Bond ETF (PZA) 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.

The current PZA Sharpe Ratio is -0.30, which is lower than the NJTFX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of PZA and NJTFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

PZA's dividend yield for the trailing twelve months is around 3.48%, more than NJTFX's 3.35% yield.

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

Invesco National AMT-Free Municipal Bond ETF (PZA) has a higher volatility of 1.64% compared to T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) at 1.01%. This indicates that PZA's price experiences larger fluctuations and is considered to be riskier than NJTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.