PRFHX vs. PIMIX
Compare and contrast key facts about T. Rowe Price Tax Free High Yield Fund (PRFHX) and PIMCO Income Fund Institutional Class (PIMIX).
PRFHX is managed by T. Rowe Price. It was launched on Feb 28, 1985. PIMIX is managed by PIMCO. It was launched on Mar 30, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRFHX or PIMIX.
Performance
PRFHX vs. PIMIX - Performance Comparison
Returns By Period
In the year-to-date period, PRFHX achieves a 6.47% return, which is significantly higher than PIMIX's 4.75% return. Over the past 10 years, PRFHX has underperformed PIMIX with an annualized return of 3.15%, while PIMIX has yielded a comparatively higher 4.16% annualized return.
PRFHX
6.47%
-0.30%
4.48%
11.88%
1.71%
3.15%
PIMIX
4.75%
-0.33%
3.56%
9.25%
3.17%
4.16%
Key characteristics
| PRFHX | PIMIX | |
|---|---|---|
| Sharpe Ratio | 3.01 | 2.17 |
| Sortino Ratio | 4.70 | 3.29 |
| Omega Ratio | 1.76 | 1.43 |
| Calmar Ratio | 1.02 | 2.55 |
| Martin Ratio | 15.95 | 10.52 |
| Ulcer Index | 0.76% | 0.89% |
| Daily Std Dev | 4.05% | 4.31% |
| Max Drawdown | -24.76% | -13.39% |
| Current Drawdown | -1.57% | -1.80% |
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PRFHX vs. PIMIX - Expense Ratio Comparison
PRFHX has a 0.63% expense ratio, which is higher than PIMIX's 0.62% expense ratio.
Correlation
The correlation between PRFHX and PIMIX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
PRFHX vs. PIMIX - 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 PIMCO Income Fund Institutional Class (PIMIX). 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
PRFHX vs. PIMIX - Dividend Comparison
PRFHX's dividend yield for the trailing twelve months is around 3.66%, less than PIMIX's 6.25% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRFHX T. Rowe Price Tax Free High Yield Fund | 3.66% | 3.62% | 3.75% | 2.98% | 3.50% | 3.53% | 3.68% | 3.62% | 3.89% | 4.01% | 4.13% | 4.58% |
PIMIX PIMCO Income Fund Institutional Class | 6.25% | 6.21% | 6.40% | 4.02% | 4.89% | 5.86% | 5.68% | 5.41% | 5.57% | 7.84% | 6.30% | 5.46% |
Drawdowns
PRFHX vs. PIMIX - Drawdown Comparison
The maximum PRFHX drawdown since its inception was -24.76%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for PRFHX and PIMIX. For additional features, visit the drawdowns tool.
Volatility
PRFHX vs. PIMIX - Volatility Comparison
T. Rowe Price Tax Free High Yield Fund (PRFHX) has a higher volatility of 1.80% compared to PIMCO Income Fund Institutional Class (PIMIX) at 1.04%. This indicates that PRFHX's price experiences larger fluctuations and is considered to be riskier than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.