VNJUX vs. GOVT
VNJUX (Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares) and GOVT (iShares U.S. Treasury Bond ETF) are both funds - VNJUX is a Municipal Bonds fund managed by Vanguard, while GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index. Over the past 10 years, VNJUX returned 2.99%/yr vs 0.80%/yr for GOVT. At a 0.49 correlation, their price movements are largely independent. VNJUX charges 0.09%/yr vs 0.05%/yr for GOVT.
Performance
VNJUX vs. GOVT - Performance Comparison
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Returns By Period
In the year-to-date period, VNJUX achieves a 2.05% return, which is significantly higher than GOVT's 0.11% return. Over the past 10 years, VNJUX has outperformed GOVT with an annualized return of 2.99%, while GOVT has yielded a comparatively lower 0.80% annualized return.
VNJUX
- 1D
- -0.09%
- 1M
- 1.72%
- YTD
- 2.05%
- 6M
- 2.46%
- 1Y
- 8.20%
- 3Y*
- 4.59%
- 5Y*
- 1.46%
- 10Y*
- 2.99%
GOVT
- 1D
- 0.13%
- 1M
- 0.58%
- YTD
- 0.11%
- 6M
- 0.22%
- 1Y
- 3.14%
- 3Y*
- 2.92%
- 5Y*
- -0.48%
- 10Y*
- 0.80%
VNJUX vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNJUX Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares | 2.05% | 4.96% | 2.79% | 7.76% | -10.24% | 2.69% | 6.11% | 9.37% | 1.61% | 8.48% |
GOVT iShares U.S. Treasury Bond ETF | 0.11% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | 7.28% | 7.36% | 0.26% | 2.19% |
Correlation
The correlation between VNJUX and GOVT is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | 0.49 |
The correlation between VNJUX and GOVT shifts across timeframes, from 0.48 (10 years) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VNJUX vs. GOVT — Risk / Return Rank
VNJUX
GOVT
VNJUX vs. GOVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares (VNJUX) and iShares U.S. Treasury Bond ETF (GOVT). 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.
| VNJUX | GOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +3.02 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.15 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 1.11 | +1.73 |
| Martin ratioReturn relative to average drawdown | 10.19 | 3.01 | +7.18 |
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Drawdowns
VNJUX vs. GOVT - Drawdown Comparison
The maximum VNJUX drawdown since its inception was -15.62%, smaller than the maximum GOVT drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for VNJUX and GOVT.
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Drawdown Indicators
| VNJUX | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.62% | -19.07% | +3.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.85% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -6.87% | -5.43% | -1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -15.62% | -16.60% | +0.98% |
Max Drawdown (10Y)Largest decline over 10 years | -15.62% | -19.07% | +3.45% |
Current DrawdownCurrent decline from peak | -0.13% | -6.97% | +6.84% |
Average DrawdownAverage peak-to-trough decline | -2.04% | -5.26% | +3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 1.05% | -0.23% |
Volatility
VNJUX vs. GOVT - Volatility Comparison
The current volatility for Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares (VNJUX) is 0.80%, while iShares U.S. Treasury Bond ETF (GOVT) has a volatility of 0.97%. This indicates that VNJUX experiences smaller price fluctuations and is considered to be less risky than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNJUX | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.97% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 2.60% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 3.57% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 6.04% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.57% | 5.22% | -0.65% |
VNJUX vs. GOVT - Expense Ratio Comparison
VNJUX has a 0.09% expense ratio, which is higher than GOVT'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
VNJUX vs. GOVT - Dividend Comparison
VNJUX's dividend yield for the trailing twelve months is around 3.63%, more than GOVT's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.58% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
VNJUX Vanguard New Jersey Long-Term Tax-Exempt Fund Admiral Shares | 3.63% | 4.49% | 4.07% | 3.03% | 3.22% | 2.91% | 3.79% | 4.15% | 4.01% | 4.13% | 4.62% | 3.78% |
Frequently Asked Questions
VNJUX and GOVT have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVT has higher volatility (0.97%) compared to VNJUX (0.80%). In terms of maximum drawdown, VNJUX dropped -15.62% vs GOVT's -19.07%.
VNJUX currently has the higher Sharpe Ratio (2.75 vs 0.89), 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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