PRILX vs. MDXBX
PRILX (Parnassus Core Equity Institutional Shares) and MDXBX (T. Rowe Price Maryland Tax Free Bond Fund) are both mutual funds - PRILX is a Large Cap Blend Equities fund managed by Parnassus, while MDXBX is a Municipal Bonds fund managed by T. Rowe Price. Over the past 10 years, PRILX returned 13.74%/yr vs 2.17%/yr for MDXBX. Their -0.07 correlation means they have often moved in opposite directions in the past. PRILX charges 0.61%/yr vs 0.49%/yr for MDXBX.
Performance
PRILX vs. MDXBX - Performance Comparison
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Returns By Period
In the year-to-date period, PRILX achieves a 7.88% return, which is significantly higher than MDXBX's 0.88% return. Over the past 10 years, PRILX has outperformed MDXBX with an annualized return of 13.74%, while MDXBX has yielded a comparatively lower 2.17% annualized return.
PRILX
- 1D
- 1.78%
- 1M
- -0.84%
- 6M
- 6.29%
- YTD
- 7.88%
- 1Y
- 11.95%
- 3Y*
- 14.51%
- 5Y*
- 9.51%
- 10Y*
- 13.74%
- ALL TIME*
- 11.70%
MDXBX
- 1D
- -0.30%
- 1M
- -2.15%
- 6M
- 0.28%
- YTD
- 0.88%
- 1Y
- 7.15%
- 3Y*
- 4.29%
- 5Y*
- 1.08%
- 10Y*
- 2.17%
- ALL TIME*
- 4.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRILX vs. MDXBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRILX Parnassus Core Equity Institutional Shares | 7.88% | 11.91% | 18.81% | 25.25% | -18.47% | 27.86% | 21.50% | 30.95% | -0.06% | 16.87% |
MDXBX T. Rowe Price Maryland Tax Free Bond Fund | 0.88% | 4.94% | 3.79% | 7.18% | -10.37% | 3.07% | 4.05% | 6.89% | 0.83% | 4.91% |
Correlation
The correlation between PRILX and MDXBX is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | -0.07 |
The correlation between PRILX and MDXBX shifts across timeframes, from -0.07 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PRILX vs. MDXBX — Risk / Return Rank
PRILX
MDXBX
PRILX vs. MDXBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parnassus Core Equity Institutional Shares (PRILX) and T. Rowe Price Maryland Tax Free Bond Fund (MDXBX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PRILX | MDXBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.68 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 2.89 | -2.08 |
| Martin ratioReturn relative to average drawdown | 3.13 | 10.20 | -7.07 |
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Drawdowns
PRILX vs. MDXBX - Drawdown Comparison
The maximum PRILX drawdown since its inception was -42.00%, which is greater than MDXBX's maximum drawdown of -15.38%. Use the drawdown chart below to compare losses from any high point for PRILX and MDXBX.
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Drawdown Indicators
| PRILX | MDXBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.00% | -15.38% | -26.62% |
Max Drawdown (1Y)Largest decline over 1 year | -11.61% | -2.83% | -8.78% |
Max Drawdown (3Y)Largest decline over 3 years | -16.28% | -5.97% | -10.31% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -14.97% | -11.21% |
Max Drawdown (10Y)Largest decline over 10 years | -30.02% | -14.97% | -15.05% |
Current DrawdownCurrent decline from peak | -1.67% | -2.15% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -4.63% | -2.14% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 0.80% | +2.22% |
Volatility
PRILX vs. MDXBX - Volatility Comparison
Parnassus Core Equity Institutional Shares (PRILX) has a higher volatility of 3.69% compared to T. Rowe Price Maryland Tax Free Bond Fund (MDXBX) at 0.92%. This indicates that PRILX's price experiences larger fluctuations and is considered to be riskier than MDXBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRILX | MDXBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 0.92% | +2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 2.35% | +8.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.89% | 3.00% | +9.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 4.31% | +12.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.25% | 3.92% | +13.33% |
PRILX vs. MDXBX - Expense Ratio Comparison
PRILX has a 0.61% expense ratio, which is higher than MDXBX's 0.49% expense ratio.
Dividends
PRILX vs. MDXBX - Dividend Comparison
PRILX's dividend yield for the trailing twelve months is around 17.73%, more than MDXBX's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDXBX T. Rowe Price Maryland Tax Free Bond Fund | 4.18% | 4.63% | 4.11% | 3.51% | 2.40% | 2.30% | 2.65% | 2.82% | 3.17% | 3.28% | 3.42% | 3.61% |
PRILX Parnassus Core Equity Institutional Shares | 17.73% | 19.16% | 10.17% | 6.18% | 10.34% | 7.94% | 6.04% | 8.23% | 9.89% | 7.37% | 3.99% | 9.84% |
Frequently Asked Questions
PRILX and MDXBX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRILX has higher volatility (3.69%) compared to MDXBX (0.92%). In terms of maximum drawdown, PRILX dropped -42.00% vs MDXBX's -15.38%.
MDXBX currently has the higher Sharpe Ratio (2.73 vs 0.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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