MELI vs. PRVAX
MELI (MercadoLibre, Inc.) is a stock, while PRVAX (T. Rowe Virginia Tax Free Bond Fund) is Municipal Bonds fund managed by T. Rowe Price. Over the past 10 years, MELI returned 28.60%/yr vs 2.14%/yr for PRVAX. At a correlation of -0.04, they often move in opposite directions.
Performance
MELI vs. PRVAX - Performance Comparison
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Returns By Period
In the year-to-date period, MELI achieves a -18.26% return, which is significantly lower than PRVAX's 2.02% return. Over the past 10 years, MELI has outperformed PRVAX with an annualized return of 28.60%, while PRVAX has yielded a comparatively lower 2.14% annualized return.
MELI
- 1D
- 3.57%
- 1M
- 6.44%
- YTD
- -18.26%
- 6M
- -16.29%
- 1Y
- -30.59%
- 3Y*
- 11.28%
- 5Y*
- 2.90%
- 10Y*
- 28.60%
PRVAX
- 1D
- 0.00%
- 1M
- 1.55%
- YTD
- 2.02%
- 6M
- 2.71%
- 1Y
- 9.06%
- 3Y*
- 4.70%
- 5Y*
- 1.10%
- 10Y*
- 2.14%
MELI vs. PRVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MELI MercadoLibre, Inc. | -18.26% | 18.46% | 8.20% | 85.71% | -37.24% | -19.51% | 192.90% | 95.30% | -6.93% | 101.99% |
PRVAX T. Rowe Virginia Tax Free Bond Fund | 2.02% | 4.32% | 3.35% | 7.10% | -10.90% | 2.37% | 5.25% | 6.66% | 0.72% | 4.71% |
Correlation
The correlation between MELI and PRVAX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2007 | -0.04 |
The correlation between MELI and PRVAX shifts across timeframes, from -0.04 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MELI vs. PRVAX — Risk / Return Rank
MELI
PRVAX
MELI vs. PRVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MercadoLibre, Inc. (MELI) and T. Rowe Virginia Tax Free Bond Fund (PRVAX). 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.
| MELI | PRVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.78 | ||
| Sortino ratioReturn per unit of downside risk | -5.63 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.75 | -0.87 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 3.24 | -3.99 |
| Martin ratioReturn relative to average drawdown | -1.31 | 11.34 | -12.65 |
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Drawdowns
MELI vs. PRVAX - Drawdown Comparison
The maximum MELI drawdown since its inception was -89.49%, which is greater than PRVAX's maximum drawdown of -15.93%. Use the drawdown chart below to compare losses from any high point for MELI and PRVAX.
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Drawdown Indicators
| MELI | PRVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.49% | -15.93% | -73.56% |
Max Drawdown (1Y)Largest decline over 1 year | -40.82% | -2.82% | -38.00% |
Max Drawdown (3Y)Largest decline over 3 years | -40.82% | -6.95% | -33.87% |
Max Drawdown (5Y)Largest decline over 5 years | -68.64% | -15.93% | -52.71% |
Max Drawdown (10Y)Largest decline over 10 years | -69.12% | -15.93% | -53.19% |
Current DrawdownCurrent decline from peak | -37.01% | -0.27% | -36.74% |
Average DrawdownAverage peak-to-trough decline | -23.59% | -1.87% | -21.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.36% | 0.79% | +22.57% |
Volatility
MELI vs. PRVAX - Volatility Comparison
MercadoLibre, Inc. (MELI) has a higher volatility of 10.16% compared to T. Rowe Virginia Tax Free Bond Fund (PRVAX) at 1.19%. This indicates that MELI's price experiences larger fluctuations and is considered to be riskier than PRVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MELI | PRVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.16% | 1.19% | +8.97% |
Volatility (6M)Calculated over the trailing 6-month period | 29.91% | 2.21% | +27.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.73% | 3.06% | +36.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.68% | 4.57% | +45.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.91% | 4.19% | +44.72% |
Dividends
MELI vs. PRVAX - Dividend Comparison
MELI has not paid dividends to shareholders, while PRVAX's dividend yield for the trailing twelve months is around 4.41%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MELI MercadoLibre, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.38% | 0.36% |
PRVAX T. Rowe Virginia Tax Free Bond Fund | 4.41% | 4.42% | 4.00% | 3.41% | 2.04% | 2.26% | 2.47% | 2.82% | 3.16% | 3.16% | 3.22% | 3.40% |
Frequently Asked Questions
MELI and PRVAX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MELI has higher volatility (10.16%) compared to PRVAX (1.19%). In terms of maximum drawdown, MELI dropped -89.49% vs PRVAX's -15.93%.
PRVAX currently has the higher Sharpe Ratio (3.00 vs -0.77), 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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