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PRFHX vs. AMHIX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between PRFHX and AMHIX is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


-0.50.00.51.0
Correlation: -0.0

Performance

PRFHX vs. AMHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Tax Free High Yield Fund (PRFHX) and American High-Income Municipal Bond Fund (AMHIX). The values are adjusted to include any dividend payments, if applicable.

290.00%300.00%310.00%320.00%330.00%NovemberDecember2025FebruaryMarchApril
296.13%
308.68%
PRFHX
AMHIX

Key characteristics

Sharpe Ratio

PRFHX:

0.34

AMHIX:

0.59

Sortino Ratio

PRFHX:

0.47

AMHIX:

0.80

Omega Ratio

PRFHX:

1.09

AMHIX:

1.14

Calmar Ratio

PRFHX:

0.31

AMHIX:

0.59

Martin Ratio

PRFHX:

1.34

AMHIX:

2.33

Ulcer Index

PRFHX:

1.64%

AMHIX:

1.54%

Daily Std Dev

PRFHX:

6.51%

AMHIX:

6.03%

Max Drawdown

PRFHX:

-24.76%

AMHIX:

-21.73%

Current Drawdown

PRFHX:

-4.67%

AMHIX:

-4.01%

Returns By Period

In the year-to-date period, PRFHX achieves a -2.77% return, which is significantly lower than AMHIX's -2.16% return. Over the past 10 years, PRFHX has underperformed AMHIX with an annualized return of 2.56%, while AMHIX has yielded a comparatively higher 3.11% annualized return.


PRFHX

YTD

-2.77%

1M

-2.06%

6M

-2.73%

1Y

2.48%

5Y*

2.90%

10Y*

2.56%

AMHIX

YTD

-2.16%

1M

-1.80%

6M

-1.72%

1Y

3.86%

5Y*

3.20%

10Y*

3.11%

*Annualized

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PRFHX vs. AMHIX - Expense Ratio Comparison

Both PRFHX and AMHIX have an expense ratio of 0.63%.


Expense ratio chart for PRFHX: current value is 0.63%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
PRFHX: 0.63%
Expense ratio chart for AMHIX: current value is 0.63%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
AMHIX: 0.63%

Risk-Adjusted Performance

PRFHX vs. AMHIX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRFHX
The Risk-Adjusted Performance Rank of PRFHX is 4545
Overall Rank
The Sharpe Ratio Rank of PRFHX is 4444
Sharpe Ratio Rank
The Sortino Ratio Rank of PRFHX is 3939
Sortino Ratio Rank
The Omega Ratio Rank of PRFHX is 4747
Omega Ratio Rank
The Calmar Ratio Rank of PRFHX is 4848
Calmar Ratio Rank
The Martin Ratio Rank of PRFHX is 4848
Martin Ratio Rank

AMHIX
The Risk-Adjusted Performance Rank of AMHIX is 6464
Overall Rank
The Sharpe Ratio Rank of AMHIX is 6262
Sharpe Ratio Rank
The Sortino Ratio Rank of AMHIX is 5656
Sortino Ratio Rank
The Omega Ratio Rank of AMHIX is 6767
Omega Ratio Rank
The Calmar Ratio Rank of AMHIX is 7272
Calmar Ratio Rank
The Martin Ratio Rank of AMHIX is 6363
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

PRFHX vs. AMHIX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Tax Free High Yield Fund (PRFHX) and American High-Income Municipal Bond Fund (AMHIX). 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.


The chart of Sharpe ratio for PRFHX, currently valued at 0.34, compared to the broader market-1.000.001.002.003.00
PRFHX: 0.34
AMHIX: 0.59
The chart of Sortino ratio for PRFHX, currently valued at 0.47, compared to the broader market-2.000.002.004.006.008.00
PRFHX: 0.47
AMHIX: 0.80
The chart of Omega ratio for PRFHX, currently valued at 1.09, compared to the broader market0.501.001.502.002.503.00
PRFHX: 1.09
AMHIX: 1.14
The chart of Calmar ratio for PRFHX, currently valued at 0.31, compared to the broader market0.002.004.006.008.0010.00
PRFHX: 0.31
AMHIX: 0.59
The chart of Martin ratio for PRFHX, currently valued at 1.34, compared to the broader market0.0010.0020.0030.0040.0050.00
PRFHX: 1.34
AMHIX: 2.33

The current PRFHX Sharpe Ratio is 0.34, which is lower than the AMHIX Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of PRFHX and AMHIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
0.34
0.59
PRFHX
AMHIX

Dividends

PRFHX vs. AMHIX - Dividend Comparison

PRFHX's dividend yield for the trailing twelve months is around 3.98%, which matches AMHIX's 3.97% yield.


TTM20242023202220212020201920182017201620152014
PRFHX
T. Rowe Price Tax Free High Yield Fund
3.98%3.80%3.62%3.82%3.01%3.54%3.53%3.71%3.64%3.91%4.02%4.15%
AMHIX
American High-Income Municipal Bond Fund
3.97%3.84%3.77%3.39%2.72%3.25%3.39%3.68%3.71%3.89%4.01%4.20%

Drawdowns

PRFHX vs. AMHIX - Drawdown Comparison

The maximum PRFHX drawdown since its inception was -24.76%, which is greater than AMHIX's maximum drawdown of -21.73%. Use the drawdown chart below to compare losses from any high point for PRFHX and AMHIX. For additional features, visit the drawdowns tool.


-7.00%-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%NovemberDecember2025FebruaryMarchApril
-4.67%
-4.01%
PRFHX
AMHIX

Volatility

PRFHX vs. AMHIX - Volatility Comparison

T. Rowe Price Tax Free High Yield Fund (PRFHX) has a higher volatility of 5.35% compared to American High-Income Municipal Bond Fund (AMHIX) at 4.76%. This indicates that PRFHX's price experiences larger fluctuations and is considered to be riskier than AMHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


1.00%2.00%3.00%4.00%5.00%NovemberDecember2025FebruaryMarchApril
5.35%
4.76%
PRFHX
AMHIX