VNJTX vs. MUB
VNJTX (Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds. Over the past 10 years, VNJTX returned 2.73%/yr vs 1.79%/yr for MUB. Their 0.59 correlation means they have sometimes moved together and sometimes differently. VNJTX charges 0.17%/yr vs 0.07%/yr for MUB.
Performance
VNJTX vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, VNJTX achieves a 0.46% return, which is significantly higher than MUB's 0.21% return. Over the past 10 years, VNJTX has outperformed MUB with an annualized return of 2.73%, while MUB has yielded a comparatively lower 1.79% annualized return.
VNJTX
- 1D
- -0.35%
- 1M
- -2.26%
- 6M
- -0.27%
- YTD
- 0.46%
- 1Y
- 6.01%
- 3Y*
- 3.95%
- 5Y*
- 0.92%
- 10Y*
- 2.73%
- ALL TIME*
- 4.80%
MUB
- 1D
- -0.11%
- 1M
- -1.73%
- 6M
- -0.48%
- YTD
- 0.21%
- 1Y
- 4.48%
- 3Y*
- 2.86%
- 5Y*
- 0.55%
- 10Y*
- 1.79%
- ALL TIME*
- 3.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $531.87M | $437.83M | $388.20M | |
| $0.00 | $0.00 | $0.00 |
VNJTX vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 0.46% | 4.89% | 2.69% | 8.04% | -10.31% | 2.62% | 6.02% | 9.27% | 1.53% | 8.37% |
MUB iShares National AMT-Free Muni Bond ETF | 0.21% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Correlation
The correlation between VNJTX and MUB is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2007 | 0.59 |
The correlation between VNJTX and MUB shifts across timeframes, from 0.59 (all time) to 0.72 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VNJTX vs. MUB — Risk / Return Rank
VNJTX
MUB
VNJTX vs. MUB - 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 iShares National AMT-Free Muni Bond ETF (MUB). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VNJTX | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.34 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 1.80 | +0.60 |
| Martin ratioReturn relative to average drawdown | 8.20 | 5.86 | +2.33 |
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Drawdowns
VNJTX vs. MUB - Drawdown Comparison
The maximum VNJTX drawdown since its inception was -15.71%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for VNJTX and MUB.
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Drawdown Indicators
| VNJTX | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.71% | -13.68% | -2.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.79% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -5.81% | -4.78% | -1.03% |
Max Drawdown (5Y)Largest decline over 5 years | -15.71% | -11.78% | -3.93% |
Max Drawdown (10Y)Largest decline over 10 years | -15.71% | -13.68% | -2.03% |
Current DrawdownCurrent decline from peak | -2.26% | -1.79% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -2.22% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.86% | 0.00% |
Volatility
VNJTX vs. MUB - Volatility Comparison
Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) has a higher volatility of 1.09% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.96%. This indicates that VNJTX's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNJTX | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 0.96% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.48% | 2.41% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 2.98% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.58% | 4.09% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.56% | 4.91% | -0.35% |
VNJTX vs. MUB - Expense Ratio Comparison
VNJTX has a 0.17% expense ratio, which is higher than MUB's 0.07% 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%.
Dividends
VNJTX vs. MUB - Dividend Comparison
VNJTX's dividend yield for the trailing twelve months is around 3.35%, more than MUB's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 2.96% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 3.35% | 4.42% | 3.97% | 3.26% | 3.14% | 2.84% | 3.71% | 4.06% | 3.93% | 4.03% | 4.51% | 3.70% |
Frequently Asked Questions
VNJTX and MUB have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNJTX has higher volatility (1.09%) compared to MUB (0.96%). In terms of maximum drawdown, VNJTX dropped -15.71% vs MUB's -13.68%.
VNJTX currently has the higher Sharpe Ratio (2.25 vs 1.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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