ABHYX vs. PRTAX
Compare and contrast key facts about American Century High-Yield Municipal Fund (ABHYX) and T. Rowe Price Tax Free Income Fund (PRTAX).
ABHYX is managed by American Century Investments. It was launched on Mar 30, 1998. PRTAX is managed by T. Rowe Price. It was launched on Oct 25, 1976.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ABHYX or PRTAX.
Key characteristics
| ABHYX | PRTAX | |
|---|---|---|
| YTD Return | 6.33% | 3.22% |
| 1Y Return | 11.32% | 8.95% |
| 3Y Return (Ann) | -0.70% | -0.08% |
| 5Y Return (Ann) | 1.86% | 1.62% |
| 10Y Return (Ann) | 3.57% | 2.58% |
| Sharpe Ratio | 2.45 | 2.16 |
| Daily Std Dev | 4.61% | 4.09% |
| Max Drawdown | -26.33% | -17.63% |
| Current Drawdown | -2.63% | -0.80% |
Correlation
The correlation between ABHYX and PRTAX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ABHYX vs. PRTAX - Performance Comparison
In the year-to-date period, ABHYX achieves a 6.33% return, which is significantly higher than PRTAX's 3.22% return. Over the past 10 years, ABHYX has outperformed PRTAX with an annualized return of 3.57%, while PRTAX has yielded a comparatively lower 2.58% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ABHYX vs. PRTAX - Expense Ratio Comparison
ABHYX has a 0.59% expense ratio, which is higher than PRTAX's 0.53% expense ratio.
Risk-Adjusted Performance
ABHYX vs. PRTAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century High-Yield Municipal Fund (ABHYX) and T. Rowe Price Tax Free Income Fund (PRTAX). 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.
Dividends
ABHYX vs. PRTAX - Dividend Comparison
ABHYX's dividend yield for the trailing twelve months is around 4.14%, more than PRTAX's 3.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABHYX American Century High-Yield Municipal Fund | 4.14% | 4.02% | 3.74% | 3.73% | 3.35% | 3.79% | 3.90% | 3.62% | 3.61% | 3.93% | 4.14% | 4.47% |
PRTAX T. Rowe Price Tax Free Income Fund | 3.22% | 3.03% | 3.03% | 2.42% | 2.85% | 3.28% | 3.61% | 3.64% | 3.82% | 3.79% | 3.84% | 4.02% |
Drawdowns
ABHYX vs. PRTAX - Drawdown Comparison
The maximum ABHYX drawdown since its inception was -26.33%, which is greater than PRTAX's maximum drawdown of -17.63%. Use the drawdown chart below to compare losses from any high point for ABHYX and PRTAX. For additional features, visit the drawdowns tool.
Volatility
ABHYX vs. PRTAX - Volatility Comparison
The current volatility for American Century High-Yield Municipal Fund (ABHYX) is 0.61%, while T. Rowe Price Tax Free Income Fund (PRTAX) has a volatility of 0.66%. This indicates that ABHYX experiences smaller price fluctuations and is considered to be less risky than PRTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.