PBDIX vs. PRXCX
Compare and contrast key facts about T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and T. Rowe Price California Tax Free Bond Fund (PRXCX).
PBDIX is managed by T. Rowe Price. PRXCX is managed by T. Rowe Price. It was launched on Sep 14, 1986.
Performance
PBDIX vs. PRXCX - Performance Comparison
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PBDIX vs. PRXCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | -0.33% | 10.63% | 1.96% | 5.47% | -14.24% | -1.45% | 8.17% | 8.69% | -0.01% | 3.83% |
PRXCX T. Rowe Price California Tax Free Bond Fund | -0.18% | 5.51% | 2.75% | 7.64% | -9.93% | 2.68% | 4.39% | 7.31% | 0.75% | 5.54% |
Returns By Period
In the year-to-date period, PBDIX achieves a -0.33% return, which is significantly lower than PRXCX's -0.18% return. Over the past 10 years, PBDIX has underperformed PRXCX with an annualized return of 2.02%, while PRXCX has yielded a comparatively higher 2.34% annualized return.
PBDIX
- 1D
- 0.52%
- 1M
- -2.44%
- YTD
- -0.33%
- 6M
- 1.93%
- 1Y
- 7.31%
- 3Y*
- 4.79%
- 5Y*
- 0.69%
- 10Y*
- 2.02%
PRXCX
- 1D
- 0.28%
- 1M
- -2.75%
- YTD
- -0.18%
- 6M
- 2.28%
- 1Y
- 6.23%
- 3Y*
- 4.16%
- 5Y*
- 1.51%
- 10Y*
- 2.34%
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PBDIX vs. PRXCX - Expense Ratio Comparison
PBDIX has a 0.23% expense ratio, which is lower than PRXCX's 0.53% expense ratio.
Return for Risk
PBDIX vs. PRXCX — Risk / Return Rank
PBDIX
PRXCX
PBDIX vs. PRXCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and T. Rowe Price California Tax Free Bond Fund (PRXCX). 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.
| PBDIX | PRXCX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.73 | 1.20 | +0.53 |
Sortino ratioReturn per unit of downside risk | 2.51 | 1.61 | +0.90 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 2.64 | 1.26 | +1.38 |
Martin ratioReturn relative to average drawdown | 8.49 | 4.09 | +4.41 |
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
| PBDIX | PRXCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.73 | 1.20 | +0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.35 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.57 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 1.09 | -0.23 |
Correlation
The correlation between PBDIX and PRXCX is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PBDIX vs. PRXCX - Dividend Comparison
PBDIX's dividend yield for the trailing twelve months is around 7.42%, more than PRXCX's 6.41% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 7.42% | 7.33% | 4.48% | 3.49% | 2.01% | 1.84% | 3.59% | 3.18% | 2.94% | 2.75% | 2.82% | 2.99% |
PRXCX T. Rowe Price California Tax Free Bond Fund | 6.41% | 6.00% | 3.26% | 3.50% | 2.21% | 2.82% | 2.80% | 2.94% | 3.11% | 3.09% | 3.33% | 3.42% |
Drawdowns
PBDIX vs. PRXCX - Drawdown Comparison
The maximum PBDIX drawdown since its inception was -19.20%, smaller than the maximum PRXCX drawdown of -21.67%. Use the drawdown chart below to compare losses from any high point for PBDIX and PRXCX.
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Drawdown Indicators
| PBDIX | PRXCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.20% | -21.67% | +2.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -5.56% | +2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -15.41% | -3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -19.20% | -15.41% | -3.79% |
Current DrawdownCurrent decline from peak | -2.44% | -2.75% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -2.78% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 1.72% | -0.80% |
Volatility
PBDIX vs. PRXCX - Volatility Comparison
T. Rowe Price QM U.S. Bond Index Fund (PBDIX) has a higher volatility of 1.71% compared to T. Rowe Price California Tax Free Bond Fund (PRXCX) at 1.23%. This indicates that PBDIX's price experiences larger fluctuations and is considered to be riskier than PRXCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBDIX | PRXCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 1.23% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.06% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 5.63% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 4.38% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 4.12% | +0.86% |