PZA vs. VNJTX
Compare and contrast key facts about Invesco National AMT-Free Municipal Bond ETF (PZA) and Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX).
PZA is a passively managed fund by Invesco that tracks the performance of the BofA ML National Long-Term Core Plus Municipal Securities Index. It was launched on Oct 11, 2007. VNJTX is managed by Vanguard. It was launched on Feb 3, 1988.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PZA or VNJTX.
Correlation
The correlation between PZA and VNJTX is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
PZA vs. VNJTX - Performance Comparison
Loading data...
Key characteristics
PZA:
-0.30
VNJTX:
0.13
PZA:
-0.36
VNJTX:
0.11
PZA:
0.95
VNJTX:
1.02
PZA:
-0.23
VNJTX:
0.05
PZA:
-0.87
VNJTX:
0.16
PZA:
2.67%
VNJTX:
1.94%
PZA:
7.18%
VNJTX:
5.86%
PZA:
-24.49%
VNJTX:
-15.70%
PZA:
-8.93%
VNJTX:
-4.04%
Returns By Period
In the year-to-date period, PZA achieves a -3.93% return, which is significantly lower than VNJTX's -2.30% return. Over the past 10 years, PZA has underperformed VNJTX with an annualized return of 1.92%, while VNJTX has yielded a comparatively higher 2.95% annualized return.
PZA
-3.93%
0.84%
-4.64%
-2.15%
1.88%
-0.48%
1.92%
VNJTX
-2.30%
1.04%
-2.51%
0.75%
3.19%
1.64%
2.95%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PZA vs. VNJTX - Expense Ratio Comparison
PZA has a 0.28% expense ratio, which is higher than VNJTX's 0.17% expense ratio.
Risk-Adjusted Performance
PZA vs. VNJTX — Risk-Adjusted Performance Rank
PZA
VNJTX
PZA vs. VNJTX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco National AMT-Free Municipal Bond ETF (PZA) and Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX). 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.
Loading data...
Dividends
PZA vs. VNJTX - Dividend Comparison
PZA's dividend yield for the trailing twelve months is around 3.48%, less than VNJTX's 3.56% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZA Invesco National AMT-Free Municipal Bond ETF | 3.48% | 3.22% | 2.91% | 2.68% | 2.34% | 2.44% | 2.81% | 3.19% | 3.04% | 3.23% | 3.59% | 3.96% |
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 3.56% | 3.41% | 3.24% | 3.14% | 3.30% | 3.71% | 3.80% | 3.93% | 4.03% | 4.51% | 3.70% | 3.95% |
Drawdowns
PZA vs. VNJTX - Drawdown Comparison
The maximum PZA drawdown since its inception was -24.49%, which is greater than VNJTX's maximum drawdown of -15.70%. Use the drawdown chart below to compare losses from any high point for PZA and VNJTX. For additional features, visit the drawdowns tool.
Loading data...
Volatility
PZA vs. VNJTX - Volatility Comparison
Invesco National AMT-Free Municipal Bond ETF (PZA) has a higher volatility of 1.64% compared to Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) at 1.23%. This indicates that PZA's price experiences larger fluctuations and is considered to be riskier than VNJTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading data...