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VNJTX vs. FNJHX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

VNJTX vs. FNJHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) and Fidelity New Jersey Municipal Income Fund (FNJHX). The values are adjusted to include any dividend payments, if applicable.

-1.00%0.00%1.00%2.00%3.00%4.00%5.00%JuneJulyAugustSeptemberOctoberNovember
3.34%
2.84%
VNJTX
FNJHX

Returns By Period

In the year-to-date period, VNJTX achieves a 2.32% return, which is significantly higher than FNJHX's 1.93% return. Over the past 10 years, VNJTX has outperformed FNJHX with an annualized return of 2.72%, while FNJHX has yielded a comparatively lower 2.47% annualized return.


VNJTX

YTD

2.32%

1M

-0.06%

6M

3.34%

1Y

7.87%

5Y (annualized)

1.39%

10Y (annualized)

2.72%

FNJHX

YTD

1.93%

1M

-0.17%

6M

2.84%

1Y

6.82%

5Y (annualized)

1.29%

10Y (annualized)

2.47%

Key characteristics


VNJTXFNJHX
Sharpe Ratio2.131.90
Sortino Ratio3.152.92
Omega Ratio1.461.44
Calmar Ratio0.930.92
Martin Ratio8.236.65
Ulcer Index0.99%0.95%
Daily Std Dev3.83%3.33%
Max Drawdown-16.22%-14.65%
Current Drawdown-1.62%-1.27%

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VNJTX vs. FNJHX - Expense Ratio Comparison

VNJTX has a 0.17% expense ratio, which is lower than FNJHX's 0.47% expense ratio.


FNJHX
Fidelity New Jersey Municipal Income Fund
Expense ratio chart for FNJHX: current value at 0.47% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.47%
Expense ratio chart for VNJTX: current value at 0.17% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.17%

Correlation

-0.50.00.51.00.8

The correlation between VNJTX and FNJHX is 0.85, 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.

Risk-Adjusted Performance

VNJTX vs. FNJHX - 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 New Jersey Municipal Income Fund (FNJHX). 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.


Sharpe ratio
The chart of Sharpe ratio for VNJTX, currently valued at 1.94, compared to the broader market0.002.004.001.941.90
The chart of Sortino ratio for VNJTX, currently valued at 2.86, compared to the broader market0.005.0010.002.862.92
The chart of Omega ratio for VNJTX, currently valued at 1.42, compared to the broader market1.002.003.004.001.421.44
The chart of Calmar ratio for VNJTX, currently valued at 0.90, compared to the broader market0.005.0010.0015.0020.0025.000.900.92
The chart of Martin ratio for VNJTX, currently valued at 7.43, compared to the broader market0.0020.0040.0060.0080.00100.007.436.65
VNJTX
FNJHX

The current VNJTX Sharpe Ratio is 2.13, which is comparable to the FNJHX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of VNJTX and FNJHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio0.001.002.003.004.00JuneJulyAugustSeptemberOctoberNovember
1.94
1.90
VNJTX
FNJHX

Dividends

VNJTX vs. FNJHX - Dividend Comparison

VNJTX's dividend yield for the trailing twelve months is around 3.36%, more than FNJHX's 2.88% yield.


TTM20232022202120202019201820172016201520142013
VNJTX
Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares
3.36%3.26%3.14%2.69%2.94%3.23%3.54%3.50%3.68%3.53%3.52%3.76%
FNJHX
Fidelity New Jersey Municipal Income Fund
2.88%2.67%2.38%1.95%2.36%2.70%2.93%2.93%3.11%3.33%3.27%4.02%

Drawdowns

VNJTX vs. FNJHX - Drawdown Comparison

The maximum VNJTX drawdown since its inception was -16.22%, which is greater than FNJHX's maximum drawdown of -14.65%. Use the drawdown chart below to compare losses from any high point for VNJTX and FNJHX. For additional features, visit the drawdowns tool.


-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-1.62%
-1.27%
VNJTX
FNJHX

Volatility

VNJTX vs. FNJHX - Volatility Comparison

Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) has a higher volatility of 1.92% compared to Fidelity New Jersey Municipal Income Fund (FNJHX) at 1.59%. This indicates that VNJTX's price experiences larger fluctuations and is considered to be riskier than FNJHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%JuneJulyAugustSeptemberOctoberNovember
1.92%
1.59%
VNJTX
FNJHX