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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRINX or PRTAX.
Key characteristics
| PRINX | PRTAX | |
|---|---|---|
| YTD Return | 2.95% | 2.59% |
| 1Y Return | 9.30% | 9.25% |
| 3Y Return (Ann) | -0.47% | -0.26% |
| 5Y Return (Ann) | 1.39% | 1.49% |
| 10Y Return (Ann) | 2.50% | 2.39% |
| Sharpe Ratio | 2.46 | 2.46 |
| Sortino Ratio | 3.76 | 3.81 |
| Omega Ratio | 1.58 | 1.59 |
| Calmar Ratio | 0.90 | 0.95 |
| Martin Ratio | 12.47 | 11.51 |
| Ulcer Index | 0.75% | 0.80% |
| Daily Std Dev | 3.78% | 3.76% |
| Max Drawdown | -15.70% | -17.63% |
| Current Drawdown | -1.97% | -1.41% |
Correlation
The correlation between PRINX and PRTAX is 0.90, 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.
Performance
PRINX vs. PRTAX - Performance Comparison
In the year-to-date period, PRINX achieves a 2.95% return, which is significantly higher than PRTAX's 2.59% return. Both investments have delivered pretty close results over the past 10 years, with PRINX having a 2.50% annualized return and PRTAX not far behind at 2.39%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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.
Risk-Adjusted Performance
PRINX vs. PRTAX - Risk-Adjusted Performance 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.
Dividends
PRINX vs. PRTAX - Dividend Comparison
PRINX's dividend yield for the trailing twelve months is around 3.23%, less than PRTAX's 3.28% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRINX T. Rowe Price Summit Municipal Income Fund | 3.23% | 2.97% | 2.61% | 2.13% | 2.64% | 2.87% | 3.12% | 3.18% | 3.32% | 3.42% | 3.53% | 3.84% |
PRTAX T. Rowe Price Tax Free Income Fund | 3.28% | 3.03% | 3.03% | 2.42% | 2.85% | 3.28% | 3.61% | 3.63% | 3.80% | 3.79% | 3.82% | 4.02% |
Drawdowns
PRINX vs. PRTAX - Drawdown Comparison
The maximum PRINX drawdown since its inception was -15.70%, smaller than the maximum PRTAX drawdown of -17.63%. Use the drawdown chart below to compare losses from any high point for PRINX and PRTAX. For additional features, visit the drawdowns tool.
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 1.90% and 1.89%, 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.