MISHX vs. PRFHX
Compare and contrast key facts about AB Municipal Income Shares (MISHX) and T. Rowe Price Tax Free High Yield Fund (PRFHX).
MISHX is managed by AllianceBernstein. It was launched on Aug 31, 2010. PRFHX is managed by T. Rowe Price. It was launched on Feb 28, 1985.
Performance
MISHX vs. PRFHX - Performance Comparison
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MISHX vs. PRFHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MISHX AB Municipal Income Shares | -0.28% | 6.41% | 5.29% | 6.24% | -12.77% | 6.81% | 6.22% | 11.52% | 0.80% | 9.59% |
PRFHX T. Rowe Price Tax Free High Yield Fund | 0.63% | 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, MISHX achieves a -0.28% return, which is significantly lower than PRFHX's 0.63% return. Over the past 10 years, MISHX has outperformed PRFHX with an annualized return of 3.67%, while PRFHX has yielded a comparatively lower 3.08% annualized return.
MISHX
- 1D
- 0.36%
- 1M
- -2.13%
- YTD
- -0.28%
- 6M
- 1.03%
- 1Y
- 3.93%
- 3Y*
- 4.92%
- 5Y*
- 1.71%
- 10Y*
- 3.67%
PRFHX
- 1D
- 0.45%
- 1M
- -1.87%
- YTD
- 0.63%
- 6M
- 3.44%
- 1Y
- 7.76%
- 3Y*
- 6.09%
- 5Y*
- 1.99%
- 10Y*
- 3.08%
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MISHX vs. PRFHX - Expense Ratio Comparison
MISHX has a 0.00% expense ratio, which is lower than PRFHX's 0.63% expense ratio.
Return for Risk
MISHX vs. PRFHX — Risk / Return Rank
MISHX
PRFHX
MISHX vs. PRFHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Municipal Income Shares (MISHX) 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.
| MISHX | PRFHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 1.33 | -0.54 |
Sortino ratioReturn per unit of downside risk | 1.09 | 1.78 | -0.69 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.36 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.23 | -0.23 |
Martin ratioReturn relative to average drawdown | 3.23 | 4.31 | -1.08 |
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
| MISHX | PRFHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 1.33 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.41 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.67 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 1.28 | -0.38 |
Correlation
The correlation between MISHX and PRFHX is 0.85, 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
MISHX vs. PRFHX - Dividend Comparison
MISHX's dividend yield for the trailing twelve months is around 4.83%, less than PRFHX's 7.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MISHX AB Municipal Income Shares | 4.83% | 6.23% | 4.80% | 3.23% | 3.75% | 2.77% | 3.56% | 3.98% | 3.77% | 3.78% | 4.25% | 4.38% |
PRFHX T. Rowe Price Tax Free High Yield Fund | 7.19% | 7.11% | 3.80% | 4.19% | 2.81% | 3.01% | 3.47% | 3.52% | 3.71% | 3.64% | 3.88% | 4.02% |
Drawdowns
MISHX vs. PRFHX - Drawdown Comparison
The maximum MISHX drawdown since its inception was -19.03%, smaller than the maximum PRFHX drawdown of -24.76%. Use the drawdown chart below to compare losses from any high point for MISHX and PRFHX.
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Drawdown Indicators
| MISHX | PRFHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.03% | -24.76% | +5.73% |
Max Drawdown (1Y)Largest decline over 1 year | -5.34% | -6.12% | +0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -18.20% | -18.81% | +0.61% |
Max Drawdown (10Y)Largest decline over 10 years | -19.03% | -18.81% | -0.22% |
Current DrawdownCurrent decline from peak | -2.47% | -2.13% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -2.79% | -0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 1.74% | -0.09% |
Volatility
MISHX vs. PRFHX - Volatility Comparison
AB Municipal Income Shares (MISHX) and T. Rowe Price Tax Free High Yield Fund (PRFHX) have volatilities of 1.29% and 1.32%, 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.
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Volatility by Period
| MISHX | PRFHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.32% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.02% | 2.19% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.64% | 6.31% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.95% | 4.88% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.17% | 4.64% | +0.53% |