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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PBDIX or PRXCX.
Key characteristics
| PBDIX | PRXCX | |
|---|---|---|
| YTD Return | 2.35% | 2.64% |
| 1Y Return | 9.07% | 9.33% |
| 3Y Return (Ann) | -2.58% | -0.11% |
| 5Y Return (Ann) | 0.27% | 1.46% |
| 10Y Return (Ann) | 1.63% | 2.48% |
| Sharpe Ratio | 1.35 | 2.47 |
| Sortino Ratio | 2.00 | 3.75 |
| Omega Ratio | 1.24 | 1.59 |
| Calmar Ratio | 0.49 | 0.99 |
| Martin Ratio | 4.93 | 12.53 |
| Ulcer Index | 1.65% | 0.75% |
| Daily Std Dev | 6.04% | 3.82% |
| Max Drawdown | -19.26% | -19.48% |
| Current Drawdown | -8.88% | -1.36% |
Correlation
The correlation between PBDIX and PRXCX is 0.57, 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.
Performance
PBDIX vs. PRXCX - Performance Comparison
In the year-to-date period, PBDIX achieves a 2.35% return, which is significantly lower than PRXCX's 2.64% return. Over the past 10 years, PBDIX has underperformed PRXCX with an annualized return of 1.63%, while PRXCX has yielded a comparatively higher 2.48% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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.
Risk-Adjusted Performance
PBDIX vs. PRXCX - Risk-Adjusted Performance 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.
Dividends
PBDIX vs. PRXCX - Dividend Comparison
PBDIX's dividend yield for the trailing twelve months is around 3.97%, more than PRXCX's 3.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 3.97% | 3.49% | 2.74% | 1.85% | 4.85% | 2.92% | 2.94% | 2.75% | 2.78% | 2.90% | 2.86% | 3.05% |
PRXCX T. Rowe Price California Tax Free Bond Fund | 3.22% | 3.04% | 2.83% | 2.51% | 2.73% | 2.93% | 3.11% | 3.09% | 3.34% | 3.43% | 3.60% | 3.95% |
Drawdowns
PBDIX vs. PRXCX - Drawdown Comparison
The maximum PBDIX drawdown since its inception was -19.26%, roughly equal to the maximum PRXCX drawdown of -19.48%. Use the drawdown chart below to compare losses from any high point for PBDIX and PRXCX. For additional features, visit the drawdowns tool.
Volatility
PBDIX vs. PRXCX - Volatility Comparison
The current volatility for T. Rowe Price QM U.S. Bond Index Fund (PBDIX) is 1.59%, while T. Rowe Price California Tax Free Bond Fund (PRXCX) has a volatility of 1.93%. This indicates that PBDIX experiences smaller price fluctuations and is considered to be less risky than PRXCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.