VNJTX vs. NMTRX
VNJTX (Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares) and NMTRX (Nuveen Municipal Total Return Managed Accounts) are both Municipal Bonds funds. Over the past 10 years, VNJTX returned 3.07%/yr vs 2.36%/yr for NMTRX. Their correlation of 0.83 suggests significant overlap in exposure. VNJTX charges 0.17%/yr vs 0.05%/yr for NMTRX.
Performance
VNJTX vs. NMTRX - Performance Comparison
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Returns By Period
In the year-to-date period, VNJTX achieves a 1.94% return, which is significantly lower than NMTRX's 2.47% return. Over the past 10 years, VNJTX has outperformed NMTRX with an annualized return of 3.07%, while NMTRX has yielded a comparatively lower 2.36% annualized return.
VNJTX
- 1D
- 0.00%
- 1M
- 0.74%
- YTD
- 1.94%
- 6M
- 2.25%
- 1Y
- 8.54%
- 3Y*
- 4.75%
- 5Y*
- 1.43%
- 10Y*
- 3.07%
NMTRX
- 1D
- 0.00%
- 1M
- 0.90%
- YTD
- 2.47%
- 6M
- 2.88%
- 1Y
- 8.18%
- 3Y*
- 4.20%
- 5Y*
- 0.50%
- 10Y*
- 2.36%
VNJTX vs. NMTRX - 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 | 1.94% | 4.89% | 2.69% | 8.04% | -10.31% | 2.62% | 6.02% | 9.27% | 1.53% | 8.37% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 2.47% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
Correlation
The correlation between VNJTX and NMTRX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2007 | 0.83 |
The correlation between VNJTX and NMTRX has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
VNJTX vs. NMTRX — Risk / Return Rank
VNJTX
NMTRX
VNJTX vs. NMTRX - 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 Nuveen Municipal Total Return Managed Accounts (NMTRX). 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 | NMTRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.71 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 3.23 | -0.24 |
| Martin ratioReturn relative to average drawdown | 10.74 | 11.87 | -1.13 |
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 | NMTRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.90 | 2.84 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.12 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.54 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 1.00 | +0.26 |
Drawdowns
VNJTX vs. NMTRX - Drawdown Comparison
The maximum VNJTX drawdown since its inception was -15.71%, roughly equal to the maximum NMTRX drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for VNJTX and NMTRX.
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Drawdown Indicators
| VNJTX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.71% | -16.36% | +0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.65% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -6.88% | -5.77% | -1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -15.71% | -16.36% | +0.65% |
Max Drawdown (10Y)Largest decline over 10 years | -15.71% | -16.36% | +0.65% |
Current DrawdownCurrent decline from peak | -0.23% | 0.00% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -2.91% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.72% | +0.10% |
Volatility
VNJTX vs. NMTRX - Volatility Comparison
The current volatility for Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) is 1.14%, while Nuveen Municipal Total Return Managed Accounts (NMTRX) has a volatility of 1.25%. This indicates that VNJTX experiences smaller price fluctuations and is considered to be less risky than NMTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNJTX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.25% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 2.25% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 3.01% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 4.03% | +0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.56% | 4.40% | +0.16% |
VNJTX vs. NMTRX - Expense Ratio Comparison
VNJTX has a 0.17% expense ratio, which is higher than NMTRX's 0.05% 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. NMTRX - Dividend Comparison
VNJTX's dividend yield for the trailing twelve months is around 3.58%, less than NMTRX's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.58% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 3.58% | 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 NMTRX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMTRX has higher volatility (1.25%) compared to VNJTX (1.14%). In terms of maximum drawdown, VNJTX dropped -15.71% vs NMTRX's -16.36%.
VNJTX currently has the higher Sharpe Ratio (2.90 vs 2.84), 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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