JHTFX vs. PRFHX
Compare and contrast key facts about John Hancock High Yield Municipal Bond Fund (JHTFX) and T. Rowe Price Tax Free High Yield Fund (PRFHX).
JHTFX is managed by John Hancock. It was launched on Dec 30, 1993. PRFHX is managed by T. Rowe Price. It was launched on Feb 28, 1985.
Performance
JHTFX vs. PRFHX - Performance Comparison
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JHTFX vs. PRFHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JHTFX John Hancock High Yield Municipal Bond Fund | -0.94% | 3.07% | 6.57% | 6.84% | -16.77% | 5.69% | 4.65% | 9.50% | 0.61% | 6.83% |
PRFHX T. Rowe Price Tax Free High Yield Fund | 0.17% | 7.33% | 5.99% | 7.65% | -14.41% | 6.09% | 3.40% | 9.03% | 0.66% | 7.31% |
Returns By Period
In the year-to-date period, JHTFX achieves a -0.94% return, which is significantly lower than PRFHX's 0.17% return. Over the past 10 years, JHTFX has underperformed PRFHX with an annualized return of 2.21%, while PRFHX has yielded a comparatively higher 3.03% annualized return.
JHTFX
- 1D
- 0.15%
- 1M
- -3.06%
- YTD
- -0.94%
- 6M
- 0.47%
- 1Y
- 0.53%
- 3Y*
- 4.24%
- 5Y*
- 0.22%
- 10Y*
- 2.21%
PRFHX
- 1D
- 0.18%
- 1M
- -2.57%
- YTD
- 0.17%
- 6M
- 3.06%
- 1Y
- 7.66%
- 3Y*
- 5.93%
- 5Y*
- 1.91%
- 10Y*
- 3.03%
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JHTFX vs. PRFHX - Expense Ratio Comparison
JHTFX has a 0.85% expense ratio, which is higher than PRFHX's 0.63% expense ratio.
Return for Risk
JHTFX vs. PRFHX — Risk / Return Rank
JHTFX
PRFHX
JHTFX vs. PRFHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock High Yield Municipal Bond Fund (JHTFX) 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.
| JHTFX | PRFHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.22 | 1.36 | -1.14 |
Sortino ratioReturn per unit of downside risk | 0.34 | 1.81 | -1.47 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.37 | -0.30 |
Calmar ratioReturn relative to maximum drawdown | 0.28 | 1.17 | -0.88 |
Martin ratioReturn relative to average drawdown | 0.68 | 4.10 | -3.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JHTFX | PRFHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 1.36 | -1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.40 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.66 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 1.28 | -0.35 |
Correlation
The correlation between JHTFX and PRFHX 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.
Dividends
JHTFX vs. PRFHX - Dividend Comparison
JHTFX's dividend yield for the trailing twelve months is around 5.12%, less than PRFHX's 7.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JHTFX John Hancock High Yield Municipal Bond Fund | 5.12% | 6.24% | 4.03% | 3.29% | 3.48% | 3.44% | 3.76% | 6.05% | 4.45% | 4.55% | 4.43% | 4.67% |
PRFHX T. Rowe Price Tax Free High Yield Fund | 7.22% | 7.11% | 3.80% | 4.19% | 2.81% | 3.01% | 3.47% | 3.52% | 3.71% | 3.64% | 3.88% | 4.02% |
Drawdowns
JHTFX vs. PRFHX - Drawdown Comparison
The maximum JHTFX drawdown since its inception was -22.40%, smaller than the maximum PRFHX drawdown of -24.76%. Use the drawdown chart below to compare losses from any high point for JHTFX and PRFHX.
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Drawdown Indicators
| JHTFX | PRFHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.40% | -24.76% | +2.36% |
Max Drawdown (1Y)Largest decline over 1 year | -7.36% | -6.12% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -18.81% | -3.59% |
Max Drawdown (10Y)Largest decline over 10 years | -22.40% | -18.81% | -3.59% |
Current DrawdownCurrent decline from peak | -3.52% | -2.57% | -0.95% |
Average DrawdownAverage peak-to-trough decline | -2.91% | -2.79% | -0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 1.74% | +1.32% |
Volatility
JHTFX vs. PRFHX - Volatility Comparison
John Hancock High Yield Municipal Bond Fund (JHTFX) has a higher volatility of 1.33% compared to T. Rowe Price Tax Free High Yield Fund (PRFHX) at 1.20%. This indicates that JHTFX's price experiences larger fluctuations and is considered to be riskier than PRFHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHTFX | PRFHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.20% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 2.16% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.53% | 6.31% | +1.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.82% | 4.87% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 4.63% | +0.91% |