COLTX vs. PRMDX
COLTX (Columbia Tax-Exempt Fund) and PRMDX (T. Rowe Price Maryland Short-Term Tax-Free Bond Fund) are both Municipal Bonds funds. Over the past 10 years, COLTX returned 1.67%/yr vs 1.57%/yr for PRMDX. Their 0.46 correlation means their historical movements had little consistent relationship. COLTX charges 0.73%/yr vs 0.53%/yr for PRMDX.
Performance
COLTX vs. PRMDX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with COLTX having a 0.64% return and PRMDX slightly higher at 0.67%. Over the past 10 years, COLTX has outperformed PRMDX with an annualized return of 1.67%, while PRMDX has yielded a comparatively lower 1.57% annualized return.
COLTX
- 1D
- -0.17%
- 1M
- -2.53%
- 6M
- -0.02%
- YTD
- 0.64%
- 1Y
- 6.38%
- 3Y*
- 3.70%
- 5Y*
- 0.09%
- 10Y*
- 1.67%
- ALL TIME*
- 5.04%
PRMDX
- 1D
- 0.00%
- 1M
- -0.39%
- 6M
- 0.26%
- YTD
- 0.67%
- 1Y
- 1.78%
- 3Y*
- 3.85%
- 5Y*
- 2.15%
- 10Y*
- 1.57%
- ALL TIME*
- 2.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
COLTX vs. PRMDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COLTX Columbia Tax-Exempt Fund | 0.64% | 3.86% | 3.47% | 6.60% | -12.56% | 3.01% | 3.37% | 8.15% | 0.19% | 6.15% |
PRMDX T. Rowe Price Maryland Short-Term Tax-Free Bond Fund | 0.67% | 4.24% | 3.84% | 4.83% | -2.29% | 0.30% | 1.15% | 2.52% | 0.98% | 1.09% |
Correlation
The correlation between COLTX and PRMDX is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994 | 0.46 |
The correlation between COLTX and PRMDX shifts across timeframes, from 0.38 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
COLTX vs. PRMDX — Risk / Return Rank
COLTX
PRMDX
COLTX vs. PRMDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Tax-Exempt Fund (COLTX) and T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX). 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.
| COLTX | PRMDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.57 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 1.85 | +0.39 |
| Martin ratioReturn relative to average drawdown | 7.78 | 5.55 | +2.24 |
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Drawdowns
COLTX vs. PRMDX - Drawdown Comparison
The maximum COLTX drawdown since its inception was -18.07%, which is greater than PRMDX's maximum drawdown of -4.31%. Use the drawdown chart below to compare losses from any high point for COLTX and PRMDX.
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Drawdown Indicators
| COLTX | PRMDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.07% | -4.31% | -13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -0.96% | -2.15% |
Max Drawdown (3Y)Largest decline over 3 years | -7.03% | -1.56% | -5.47% |
Max Drawdown (5Y)Largest decline over 5 years | -18.07% | -4.31% | -13.76% |
Max Drawdown (10Y)Largest decline over 10 years | -18.07% | -4.31% | -13.76% |
Current DrawdownCurrent decline from peak | -2.53% | -0.39% | -2.14% |
Average DrawdownAverage peak-to-trough decline | -2.62% | -0.36% | -2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.32% | +0.58% |
Volatility
COLTX vs. PRMDX - Volatility Comparison
Columbia Tax-Exempt Fund (COLTX) has a higher volatility of 1.17% compared to T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX) at 0.27%. This indicates that COLTX's price experiences larger fluctuations and is considered to be riskier than PRMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COLTX | PRMDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.27% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 1.03% | +1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 1.33% | +2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.26% | 1.75% | +3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.99% | 1.64% | +3.35% |
COLTX vs. PRMDX - Expense Ratio Comparison
COLTX has a 0.73% expense ratio, which is higher than PRMDX's 0.53% expense ratio.
Dividends
COLTX vs. PRMDX - Dividend Comparison
COLTX's dividend yield for the trailing twelve months is around 3.51%, more than PRMDX's 2.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COLTX Columbia Tax-Exempt Fund | 3.51% | 4.91% | 3.66% | 3.15% | 3.05% | 3.20% | 3.27% | 4.60% | 3.80% | 3.86% | 4.15% | 4.13% |
PRMDX T. Rowe Price Maryland Short-Term Tax-Free Bond Fund | 2.35% | 3.16% | 4.15% | 3.10% | 0.61% | 0.69% | 1.14% | 1.33% | 1.16% | 0.89% | 0.74% | 0.67% |
Frequently Asked Questions
COLTX and PRMDX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COLTX has higher volatility (1.17%) compared to PRMDX (0.27%). In terms of maximum drawdown, COLTX dropped -18.07% vs PRMDX's -4.31%.
COLTX currently has the higher Sharpe Ratio (1.98 vs 1.35), 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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