AMHIX vs. PRFHX
Compare and contrast key facts about American High-Income Municipal Bond Fund (AMHIX) and T. Rowe Price Tax Free High Yield Fund (PRFHX).
AMHIX is managed by American Funds. It was launched on Sep 25, 1994. PRFHX is managed by T. Rowe Price. It was launched on Feb 28, 1985.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AMHIX or PRFHX.
Performance
AMHIX vs. PRFHX - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with AMHIX having a 6.54% return and PRFHX slightly lower at 6.38%. Over the past 10 years, AMHIX has outperformed PRFHX with an annualized return of 3.64%, while PRFHX has yielded a comparatively lower 3.13% annualized return.
AMHIX
6.54%
0.28%
5.26%
11.94%
2.20%
3.64%
PRFHX
6.38%
0.05%
4.58%
11.57%
1.69%
3.13%
Key characteristics
| AMHIX | PRFHX | |
|---|---|---|
| Sharpe Ratio | 3.08 | 2.91 |
| Sortino Ratio | 4.69 | 4.54 |
| Omega Ratio | 1.75 | 1.73 |
| Calmar Ratio | 1.20 | 0.99 |
| Martin Ratio | 14.87 | 15.31 |
| Ulcer Index | 0.82% | 0.77% |
| Daily Std Dev | 3.95% | 4.05% |
| Max Drawdown | -21.73% | -24.76% |
| Current Drawdown | -1.26% | -1.65% |
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AMHIX vs. PRFHX - Expense Ratio Comparison
Both AMHIX and PRFHX have an expense ratio of 0.63%.
Correlation
The correlation between AMHIX and PRFHX is 0.86, 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.
Risk-Adjusted Performance
AMHIX vs. PRFHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for American High-Income Municipal Bond Fund (AMHIX) and T. Rowe Price Tax Free High Yield Fund (PRFHX). 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
AMHIX vs. PRFHX - Dividend Comparison
AMHIX's dividend yield for the trailing twelve months is around 3.80%, more than PRFHX's 3.66% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMHIX American High-Income Municipal Bond Fund | 3.80% | 3.77% | 3.39% | 2.72% | 3.25% | 3.39% | 3.68% | 3.71% | 3.89% | 4.01% | 4.20% | 4.55% |
PRFHX T. Rowe Price Tax Free High Yield Fund | 3.66% | 3.62% | 3.75% | 2.98% | 3.50% | 3.53% | 3.68% | 3.62% | 3.89% | 4.01% | 4.13% | 4.58% |
Drawdowns
AMHIX vs. PRFHX - Drawdown Comparison
The maximum AMHIX drawdown since its inception was -21.73%, smaller than the maximum PRFHX drawdown of -24.76%. Use the drawdown chart below to compare losses from any high point for AMHIX and PRFHX. For additional features, visit the drawdowns tool.
Volatility
AMHIX vs. PRFHX - Volatility Comparison
American High-Income Municipal Bond Fund (AMHIX) and T. Rowe Price Tax Free High Yield Fund (PRFHX) have volatilities of 1.56% and 1.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.