PRFHX vs. VTEB
Compare and contrast key facts about T. Rowe Price Tax Free High Yield Fund (PRFHX) and Vanguard Tax-Exempt Bond ETF (VTEB).
PRFHX is managed by T. Rowe Price. It was launched on Feb 28, 1985. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRFHX or VTEB.
Performance
PRFHX vs. VTEB - Performance Comparison
Returns By Period
In the year-to-date period, PRFHX achieves a 6.38% return, which is significantly higher than VTEB's 1.64% return.
PRFHX
6.38%
0.05%
4.58%
11.57%
1.69%
3.13%
VTEB
1.64%
0.46%
3.15%
5.47%
1.20%
N/A
Key characteristics
| PRFHX | VTEB | |
|---|---|---|
| Sharpe Ratio | 2.91 | 1.46 |
| Sortino Ratio | 4.54 | 2.14 |
| Omega Ratio | 1.73 | 1.29 |
| Calmar Ratio | 0.99 | 0.88 |
| Martin Ratio | 15.31 | 6.18 |
| Ulcer Index | 0.77% | 0.92% |
| Daily Std Dev | 4.05% | 3.88% |
| Max Drawdown | -24.76% | -17.00% |
| Current Drawdown | -1.65% | -1.17% |
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PRFHX vs. VTEB - Expense Ratio Comparison
PRFHX has a 0.63% expense ratio, which is higher than VTEB's 0.05% expense ratio.
Correlation
The correlation between PRFHX and VTEB is 0.62, 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.
Risk-Adjusted Performance
PRFHX vs. VTEB - 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 Vanguard Tax-Exempt Bond ETF (VTEB). 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. VTEB - Dividend Comparison
PRFHX's dividend yield for the trailing twelve months is around 3.66%, more than VTEB's 3.09% 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.09% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
PRFHX vs. VTEB - Drawdown Comparison
The maximum PRFHX drawdown since its inception was -24.76%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for PRFHX and VTEB. For additional features, visit the drawdowns tool.
Volatility
PRFHX vs. VTEB - Volatility Comparison
The current volatility for T. Rowe Price Tax Free High Yield Fund (PRFHX) is 1.60%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.83%. This indicates that PRFHX experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.