VNJTX vs. VBTLX
VNJTX (Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VNJTX is a Municipal Bonds fund managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VNJTX returned 3.07%/yr vs 1.58%/yr for VBTLX. A 0.59 correlation means they provide meaningful diversification when combined. VNJTX charges 0.17%/yr vs 0.04%/yr for VBTLX.
Performance
VNJTX vs. VBTLX - Performance Comparison
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Returns By Period
In the year-to-date period, VNJTX achieves a 1.94% return, which is significantly higher than VBTLX's 0.42% return. Over the past 10 years, VNJTX has outperformed VBTLX with an annualized return of 3.07%, while VBTLX has yielded a comparatively lower 1.58% annualized return.
VNJTX
- 1D
- 0.18%
- 1M
- 0.74%
- YTD
- 1.94%
- 6M
- 2.34%
- 1Y
- 8.74%
- 3Y*
- 4.75%
- 5Y*
- 1.44%
- 10Y*
- 3.07%
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
VNJTX vs. VBTLX - 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% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VNJTX and VBTLX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001 | 0.59 |
The correlation between VNJTX and VBTLX shifts across timeframes, from 0.55 (10 years) to 0.66 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VNJTX vs. VBTLX — Risk / Return Rank
VNJTX
VBTLX
VNJTX vs. VBTLX - 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 Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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 | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.24 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 1.86 | +1.06 |
| Martin ratioReturn relative to average drawdown | 10.50 | 5.58 | +4.92 |
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 | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.82 | 1.36 | +1.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.04 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.32 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 0.76 | +0.49 |
Drawdowns
VNJTX vs. VBTLX - Drawdown Comparison
The maximum VNJTX drawdown since its inception was -15.71%, smaller than the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VNJTX and VBTLX.
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Drawdown Indicators
| VNJTX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.71% | -18.81% | +3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.89% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -6.88% | -6.00% | -0.88% |
Max Drawdown (5Y)Largest decline over 5 years | -15.71% | -18.14% | +2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -15.71% | -18.81% | +3.10% |
Current DrawdownCurrent decline from peak | -0.23% | -2.18% | +1.95% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -2.67% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.96% | -0.14% |
Volatility
VNJTX vs. VBTLX - Volatility Comparison
The current volatility for Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) is 1.15%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.38%. This indicates that VNJTX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNJTX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.38% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.25% | 2.80% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.05% | 3.97% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 6.01% | -1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.56% | 4.98% | -0.42% |
VNJTX vs. VBTLX - Expense Ratio Comparison
VNJTX has a 0.17% expense ratio, which is higher than VBTLX's 0.04% 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. VBTLX - Dividend Comparison
VNJTX's dividend yield for the trailing twelve months is around 3.58%, less than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
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 VBTLX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTLX has higher volatility (1.38%) compared to VNJTX (1.15%). In terms of maximum drawdown, VNJTX dropped -15.71% vs VBTLX's -18.81%.
VNJTX currently has the higher Sharpe Ratio (2.82 vs 1.36), 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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