PRINX vs. VWAHX
Compare and contrast key facts about T. Rowe Price Summit Municipal Income Fund (PRINX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
PRINX is managed by T. Rowe Price. It was launched on Oct 28, 1993. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRINX or VWAHX.
Key characteristics
| PRINX | VWAHX | |
|---|---|---|
| YTD Return | 2.95% | 3.35% |
| 1Y Return | 9.30% | 11.05% |
| 3Y Return (Ann) | -0.47% | -0.42% |
| 5Y Return (Ann) | 1.39% | 1.64% |
| 10Y Return (Ann) | 2.50% | 3.12% |
| Sharpe Ratio | 2.46 | 2.66 |
| Sortino Ratio | 3.76 | 4.05 |
| Omega Ratio | 1.58 | 1.64 |
| Calmar Ratio | 0.90 | 0.95 |
| Martin Ratio | 12.47 | 13.26 |
| Ulcer Index | 0.75% | 0.84% |
| Daily Std Dev | 3.78% | 4.20% |
| Max Drawdown | -15.70% | -17.82% |
| Current Drawdown | -1.97% | -1.95% |
Correlation
The correlation between PRINX and VWAHX is 0.87, 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. VWAHX - Performance Comparison
In the year-to-date period, PRINX achieves a 2.95% return, which is significantly lower than VWAHX's 3.35% return. Over the past 10 years, PRINX has underperformed VWAHX with an annualized return of 2.50%, while VWAHX has yielded a comparatively higher 3.12% annualized return. 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. VWAHX - Expense Ratio Comparison
PRINX has a 0.50% expense ratio, which is higher than VWAHX's 0.17% expense ratio.
Risk-Adjusted Performance
PRINX vs. VWAHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Summit Municipal Income Fund (PRINX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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. VWAHX - Dividend Comparison
PRINX's dividend yield for the trailing twelve months is around 3.23%, less than VWAHX's 3.70% 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.70% | 3.53% | 3.37% | 2.86% | 3.09% | 3.36% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% | 4.12% |
Drawdowns
PRINX vs. VWAHX - Drawdown Comparison
The maximum PRINX drawdown since its inception was -15.70%, smaller than the maximum VWAHX drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for PRINX and VWAHX. For additional features, visit the drawdowns tool.
Volatility
PRINX vs. VWAHX - Volatility Comparison
The current volatility for T. Rowe Price Summit Municipal Income Fund (PRINX) is 1.90%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 2.02%. This indicates that PRINX experiences smaller price fluctuations and is considered to be less risky than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.