PRINX vs. PRTAX
Compare and contrast key facts about T. Rowe Price Summit Municipal Income Fund (PRINX) and T. Rowe Price Tax Free Income Fund (PRTAX).
PRINX is managed by T. Rowe Price. It was launched on Oct 28, 1993. PRTAX is managed by T. Rowe Price. It was launched on Oct 25, 1976.
Performance
PRINX vs. PRTAX - Performance Comparison
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PRINX vs. PRTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRINX T. Rowe Price Summit Municipal Income Fund | -0.56% | 3.29% | 2.36% | 6.71% | -11.67% | 3.16% | 4.60% | 7.81% | 0.40% | 5.94% |
PRTAX T. Rowe Price Tax Free Income Fund | -0.18% | 4.45% | 5.18% | 9.82% | -10.81% | 2.85% | 4.87% | 7.25% | 0.70% | 5.17% |
Returns By Period
In the year-to-date period, PRINX achieves a -0.56% return, which is significantly lower than PRTAX's -0.18% return. Over the past 10 years, PRINX has underperformed PRTAX with an annualized return of 1.92%, while PRTAX has yielded a comparatively higher 2.66% annualized return.
PRINX
- 1D
- 0.18%
- 1M
- -2.72%
- YTD
- -0.56%
- 6M
- 1.01%
- 1Y
- 3.49%
- 3Y*
- 2.94%
- 5Y*
- 0.41%
- 10Y*
- 1.92%
PRTAX
- 1D
- 0.22%
- 1M
- -2.62%
- YTD
- -0.18%
- 6M
- 1.34%
- 1Y
- 4.10%
- 3Y*
- 5.22%
- 5Y*
- 2.05%
- 10Y*
- 2.66%
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PRINX vs. PRTAX - Expense Ratio Comparison
PRINX has a 0.50% expense ratio, which is lower than PRTAX's 0.53% expense ratio.
Return for Risk
PRINX vs. PRTAX — Risk / Return Rank
PRINX
PRTAX
PRINX vs. PRTAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Summit Municipal Income Fund (PRINX) and T. Rowe Price Tax Free Income Fund (PRTAX). 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.
| PRINX | PRTAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.74 | 0.86 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.01 | 1.17 | -0.17 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.23 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.56 | 0.74 | -0.18 |
Martin ratioReturn relative to average drawdown | 1.62 | 2.16 | -0.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRINX | PRTAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.74 | 0.86 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.47 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.63 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.89 | +0.24 |
Correlation
The correlation between PRINX and PRTAX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PRINX vs. PRTAX - Dividend Comparison
PRINX's dividend yield for the trailing twelve months is around 3.41%, less than PRTAX's 3.79% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRINX T. Rowe Price Summit Municipal Income Fund | 3.41% | 3.63% | 2.78% | 2.46% | 1.96% | 2.14% | 2.64% | 2.87% | 3.12% | 3.19% | 3.32% | 3.42% |
PRTAX T. Rowe Price Tax Free Income Fund | 3.79% | 4.61% | 5.90% | 5.55% | 2.20% | 2.42% | 2.85% | 3.28% | 3.61% | 3.63% | 3.80% | 3.78% |
Drawdowns
PRINX vs. PRTAX - Drawdown Comparison
The maximum PRINX drawdown since its inception was -16.27%, smaller than the maximum PRTAX drawdown of -20.97%. Use the drawdown chart below to compare losses from any high point for PRINX and PRTAX.
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Drawdown Indicators
| PRINX | PRTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.27% | -20.97% | +4.70% |
Max Drawdown (1Y)Largest decline over 1 year | -5.44% | -5.33% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -16.27% | -15.68% | -0.59% |
Max Drawdown (10Y)Largest decline over 10 years | -16.27% | -15.68% | -0.59% |
Current DrawdownCurrent decline from peak | -2.72% | -2.62% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -3.25% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 1.82% | +0.05% |
Volatility
PRINX vs. PRTAX - Volatility Comparison
T. Rowe Price Summit Municipal Income Fund (PRINX) and T. Rowe Price Tax Free Income Fund (PRTAX) have volatilities of 1.09% and 1.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRINX | PRTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.14% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.82% | 1.90% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.52% | 5.55% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.34% | 4.36% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 4.21% | +0.06% |