VNJTX vs. FSMUX
Compare and contrast key facts about Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) and Strategic Advisers Municipal Bond Fund (FSMUX).
VNJTX is managed by Vanguard. It was launched on Feb 3, 1988. FSMUX is managed by Fidelity. It was launched on Jun 24, 2021.
Performance
VNJTX vs. FSMUX - Performance Comparison
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VNJTX vs. FSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | -0.65% | 4.89% | 2.69% | 8.04% | -10.31% | 0.74% |
FSMUX Strategic Advisers Municipal Bond Fund | -1.13% | 3.14% | 2.99% | 6.78% | -11.25% | 0.39% |
Returns By Period
In the year-to-date period, VNJTX achieves a -0.65% return, which is significantly higher than FSMUX's -1.13% return.
VNJTX
- 1D
- 0.18%
- 1M
- -2.77%
- YTD
- -0.65%
- 6M
- 1.24%
- 1Y
- 4.55%
- 3Y*
- 3.77%
- 5Y*
- 1.30%
- 10Y*
- 2.99%
FSMUX
- 1D
- 0.11%
- 1M
- -2.56%
- YTD
- -1.13%
- 6M
- 0.12%
- 1Y
- 2.39%
- 3Y*
- 2.93%
- 5Y*
- —
- 10Y*
- —
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VNJTX vs. FSMUX - Expense Ratio Comparison
VNJTX has a 0.17% expense ratio, which is higher than FSMUX's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VNJTX vs. FSMUX — Risk / Return Rank
VNJTX
FSMUX
VNJTX vs. FSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) and Strategic Advisers Municipal Bond Fund (FSMUX). 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.
| VNJTX | FSMUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.03 | 0.63 | +0.40 |
Sortino ratioReturn per unit of downside risk | 1.41 | 0.87 | +0.53 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.19 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.28 | +0.84 |
Martin ratioReturn relative to average drawdown | 3.56 | 0.78 | +2.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VNJTX | FSMUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 0.63 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.24 | -0.00 | +1.24 |
Correlation
The correlation between VNJTX and FSMUX is 0.87, 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.
Dividends
VNJTX vs. FSMUX - Dividend Comparison
VNJTX's dividend yield for the trailing twelve months is around 3.62%, more than FSMUX's 2.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 3.62% | 4.42% | 3.97% | 3.26% | 3.14% | 2.84% | 3.71% | 4.06% | 3.93% | 4.03% | 4.51% | 3.70% |
FSMUX Strategic Advisers Municipal Bond Fund | 2.35% | 3.26% | 3.74% | 3.18% | 2.14% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VNJTX vs. FSMUX - Drawdown Comparison
The maximum VNJTX drawdown since its inception was -15.71%, roughly equal to the maximum FSMUX drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for VNJTX and FSMUX.
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Drawdown Indicators
| VNJTX | FSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.71% | -16.27% | +0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -5.12% | -5.30% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -15.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.71% | — | — |
Current DrawdownCurrent decline from peak | -2.77% | -2.56% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -5.61% | +3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.96% | -0.35% |
Volatility
VNJTX vs. FSMUX - Volatility Comparison
Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) has a higher volatility of 1.19% compared to Strategic Advisers Municipal Bond Fund (FSMUX) at 0.99%. This indicates that VNJTX's price experiences larger fluctuations and is considered to be riskier than FSMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNJTX | FSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 0.99% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 1.88% | 2.12% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 6.65% | -1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 4.67% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.54% | 4.67% | -0.13% |