VNJTX vs. PZA
Compare and contrast key facts about Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) and Invesco National AMT-Free Municipal Bond ETF (PZA).
VNJTX is managed by Vanguard. It was launched on Feb 3, 1988. PZA is a passively managed fund by Invesco that tracks the performance of the BofA ML National Long-Term Core Plus Municipal Securities Index. It was launched on Oct 11, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VNJTX or PZA.
Correlation
The correlation between VNJTX and PZA is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
VNJTX vs. PZA - Performance Comparison
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Key characteristics
VNJTX:
0.13
PZA:
-0.17
VNJTX:
0.20
PZA:
-0.15
VNJTX:
1.03
PZA:
0.98
VNJTX:
0.11
PZA:
-0.11
VNJTX:
0.39
PZA:
-0.44
VNJTX:
1.86%
PZA:
2.50%
VNJTX:
5.81%
PZA:
7.11%
VNJTX:
-16.22%
PZA:
-24.49%
VNJTX:
-3.59%
PZA:
-7.86%
Returns By Period
In the year-to-date period, VNJTX achieves a -1.79% return, which is significantly higher than PZA's -2.81% return. Over the past 10 years, VNJTX has outperformed PZA with an annualized return of 2.53%, while PZA has yielded a comparatively lower 2.01% annualized return.
VNJTX
-1.79%
2.03%
-1.67%
0.81%
1.82%
2.53%
PZA
-2.81%
2.42%
-3.51%
-1.15%
0.12%
2.01%
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VNJTX vs. PZA - Expense Ratio Comparison
VNJTX has a 0.17% expense ratio, which is lower than PZA's 0.28% expense ratio.
Risk-Adjusted Performance
VNJTX vs. PZA — Risk-Adjusted Performance Rank
VNJTX
PZA
VNJTX vs. PZA - 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 Invesco National AMT-Free Municipal Bond ETF (PZA). 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.
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Dividends
VNJTX vs. PZA - Dividend Comparison
VNJTX's dividend yield for the trailing twelve months is around 3.22%, less than PZA's 3.41% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 3.22% | 3.39% | 3.26% | 3.14% | 2.69% | 2.94% | 3.23% | 3.54% | 3.50% | 3.68% | 3.53% | 3.52% |
PZA Invesco National AMT-Free Municipal Bond ETF | 3.41% | 3.22% | 2.91% | 2.68% | 2.34% | 2.44% | 2.81% | 3.19% | 3.04% | 3.23% | 3.59% | 3.96% |
Drawdowns
VNJTX vs. PZA - Drawdown Comparison
The maximum VNJTX drawdown since its inception was -16.22%, smaller than the maximum PZA drawdown of -24.49%. Use the drawdown chart below to compare losses from any high point for VNJTX and PZA. For additional features, visit the drawdowns tool.
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Volatility
VNJTX vs. PZA - Volatility Comparison
Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) has a higher volatility of 2.93% compared to Invesco National AMT-Free Municipal Bond ETF (PZA) at 2.43%. This indicates that VNJTX's price experiences larger fluctuations and is considered to be riskier than PZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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