These Are The Ten Top Muni New Jersey Funds

New Jersey is among the top U.S. states in terms of GDP size, and thus, it presents a potential investment opportunity for investors. To lower risk, as well as to earn a decent return, one can easily invest in the state’s municipal debt, and an even better option is to invest in a portfolio of such debt securities. Such securities are more appealing to New Jersey residents as income from these bonds are generally tax exempt. One effective way to invest in a portfolio of such securities is to invest through Muni New Jersey funds. Such funds usually invest at least 80% of their assets in New Jersey municipal debt, including of long-, intermediate-, and short-duration. Let’s take a look at the ten top Muni New Jersey funds.

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Ten Top Muni New Jersey Funds

We have used the past one year return data (from U.S. News) to list the ten top Muni New Jersey funds. Following are the ten top Muni New Jersey funds:

10. Putnam New Jersey Tax Exempt Income Fund (PTNJX, 5%)

Putnam New Jersey Tax Exempt Income Fund (MUTF:PTNJX) invests in tax-exempt municipal bonds that are investment-grade and have intermediate- to long-term maturities. This fund has given a return of more than 1% in the last six months and more than 5% in the last three years. PTNJX has over $168 million in total assets. The top two holdings of the fund are: 5 Year Treasury Note Future Sept 21 and PORT AUTH N Y & N J 6.12%.

9. T. Rowe Price New Jersey Tax-Free Bd Fd (NJTFX, 5%)

T. Rowe Price New Jersey Tax-Free Bond Fund (MUTF:NJTFX) invests in investment-grade New Jersey municipal bonds, which income is tax-exempt. This fund has given a return of almost 2% in the last six months and more than 5% in the last three years. NJTFX has over $456 million in total assets. The top two holdings of the fund are: NEW JERSEY ST TPK AUTH TPK REV 5% and HUDSON CNTY N J IMPT AUTH LEASE REV 5.25%.

8. Delaware Tax-Free New Jersey Fund (FINJX, 6%)

Delaware Tax-Free New Jersey Fund (MUTF:FINJX) invests in municipal securities, the income from which is exempt from federal income tax, including the federal alternative minimum tax, and similar state taxes. This fund has given a return of more than 2% in the last six months and more than 5% in the last three years. FINJX has over $27 million in total assets. The top two holdings of the fund are: PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.75% and ESSEX CNTY N J IMPT AUTH REV 5.5%.

7. Fidelity® New Jersey Municipal Income Fd (FNJHX, 6%)

Along with investing in tax-exempt municipal securities, Fidelity® New Jersey Municipal Income Fund (MUTF:FNJHX) may invest over 25% of total assets in municipal securities financing similar projects. This fund has given a return of almost 2% in the last six months and almost 6% in the last three years. FNJHX has over $717 million in total assets. The top two holdings of the fund are: NEW JERSEY HEALTH CARE FACS FING AUTH 0.01% and NEW JERSEY ST TRANSN TR FD AUTH 0%.

6. AB Municipal Income II New Jersey Port (ANJAX, 6%)

AB Municipal Income Fund II New Jersey Portfolio (MUTF:ANJAX) usually invests a minimum of 80% of its net assets in municipal securities, of which the interest is exempt from the federal income tax. This fund has given a return of almost 2% in the last six months and over 5% in the last three years. ANJAX has over $75 million in total assets. The top two holdings of the fund are: NEW JERSEY ST 5% and PORT AUTH N Y & N J 5%.

5. BlackRock New Jersey Municipal Bond Fund (MANJX, 6%)

BlackRock New Jersey Municipal Bond Fund (MUTF:MANJX) normally invests in the long-term investment grade New Jersey municipal bonds. This fund has given a return of almost 2% in the last six months and over 5% in the last three years. MANJX has over $407 million in total assets. The top two holdings of the fund are: BlackRock Liquidity MuniCash Instl and GARDEN ST N J PRESERVATION TR OPEN SPACE & FARMLAND PRESERVATION.

4. Lord Abbett New Jersey Tax Free Fund (LANJX, 6%)

Lord Abbett New Jersey Tax Free Fund (MUTF:LANJX) utilizes the volatility of the Bloomberg Barclays Municipal Bond Index for an approximation of reasonable risk. This fund has given a return of more than 2% in the last six months and over 5% in the last three years. LANJX has over $136 million in total assets. The top two holdings of the fund are: TOBACCO SETTLEMENT FING CORP N J 5% and NEW JERSEY ECONOMIC DEV AUTH SPL FAC REV 5.25%.

3. Vanguard NJ Long-Term Tax-Exempt Fund (VNJTX, 7%)

Vanguard New Jersey Long-Term Tax-Exempt Fund (MUTF:VNJTX) mainly invests in high-quality municipal bonds that are issued by the New Jersey state and local governments, and by regional governmental and public financing authorities. This fund has given a return of almost 2% in the last six months and over 6% in the last three years. VNJTX has over $2.70 billion in total assets. The top two holdings of the fund are: RUTGERS ST UNIV N J and NEW JERSEY HEALTH CARE FACS FING AUTH.

2. Western Asset New Jersey Municipals Fund (SHNJX, 8%)

Western Asset New Jersey Municipals Fund (MUTF:SHNJX) normally invests in New Jersey municipal securities, in which the income is exempt from federal income tax and New Jersey state personal income tax, but may be subject to the federal alternative minimum tax. This fund has given a return of more than 2% in the last six months and over 5% in the last three years. SHNJX has over $163 million in total assets. The top two holdings of the fund are: NEW JERSEY ST TRANSN TR FD AUTH 5% and NEW JERSEY ECONOMIC DEV AUTH REV 5%.

1. Invesco New Jersey Muncpl Fd (ONJAX, 8%)

Invesco New Jersey Municipal Fund (MUTF:ONJAX) primarily invests in New Jersey municipal securities and other instruments bearing similar economic characteristics. This fund has given a return of more than 3% in the last six months and over 7% in the last three years. ONJAX has over $269 million in total assets. The top two holdings of the fund are: CHILDRENS TR FD P R TOB SETTLEMENT REV 5.62% and NEW JERSEY ECONOMIC DEV AUTH REV 5.38%.