VNJTX vs. FHIGX
Compare and contrast key facts about Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) and Fidelity Municipal Income Fund (FHIGX).
VNJTX is managed by Vanguard. It was launched on Feb 3, 1988. FHIGX is managed by Fidelity. It was launched on Dec 1, 1977.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VNJTX or FHIGX.
Key characteristics
| VNJTX | FHIGX | |
|---|---|---|
| YTD Return | 1.97% | 2.08% |
| 1Y Return | 9.29% | 8.38% |
| 3Y Return (Ann) | -0.41% | -0.73% |
| 5Y Return (Ann) | 1.43% | 1.02% |
| 10Y Return (Ann) | 2.67% | 2.03% |
| Sharpe Ratio | 2.37 | 2.33 |
| Sortino Ratio | 3.57 | 3.56 |
| Omega Ratio | 1.53 | 1.54 |
| Calmar Ratio | 0.90 | 0.85 |
| Martin Ratio | 9.64 | 9.82 |
| Ulcer Index | 0.96% | 0.85% |
| Daily Std Dev | 3.91% | 3.57% |
| Max Drawdown | -16.22% | -16.91% |
| Current Drawdown | -1.96% | -3.04% |
Correlation
The correlation between VNJTX and FHIGX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
VNJTX vs. FHIGX - Performance Comparison
In the year-to-date period, VNJTX achieves a 1.97% return, which is significantly lower than FHIGX's 2.08% return. Over the past 10 years, VNJTX has outperformed FHIGX with an annualized return of 2.67%, while FHIGX has yielded a comparatively lower 2.03% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VNJTX vs. FHIGX - Expense Ratio Comparison
VNJTX has a 0.17% expense ratio, which is lower than FHIGX's 0.45% expense ratio.
Risk-Adjusted Performance
VNJTX vs. FHIGX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) and Fidelity Municipal Income Fund (FHIGX). 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.
Dividends
VNJTX vs. FHIGX - Dividend Comparison
VNJTX's dividend yield for the trailing twelve months is around 3.37%, more than FHIGX's 2.93% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 3.37% | 3.26% | 3.14% | 2.69% | 2.94% | 3.23% | 3.54% | 3.50% | 3.68% | 3.53% | 3.52% | 3.76% |
FHIGX Fidelity Municipal Income Fund | 2.93% | 2.84% | 2.72% | 2.40% | 2.58% | 2.79% | 2.99% | 3.05% | 3.40% | 3.43% | 3.51% | 3.91% |
Drawdowns
VNJTX vs. FHIGX - Drawdown Comparison
The maximum VNJTX drawdown since its inception was -16.22%, roughly equal to the maximum FHIGX drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for VNJTX and FHIGX. For additional features, visit the drawdowns tool.
Volatility
VNJTX vs. FHIGX - Volatility Comparison
Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) has a higher volatility of 1.93% compared to Fidelity Municipal Income Fund (FHIGX) at 1.73%. This indicates that VNJTX's price experiences larger fluctuations and is considered to be riskier than FHIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.