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.
Performance
PRINX vs. VWAHX - Performance Comparison
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PRINX vs. VWAHX - 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | -0.65% | 4.96% | 3.98% | 8.39% | -11.76% | 3.36% | 5.39% | 9.48% | 1.31% | 7.86% |
Returns By Period
In the year-to-date period, PRINX achieves a -0.56% return, which is significantly higher than VWAHX's -0.65% return. Over the past 10 years, PRINX has underperformed VWAHX with an annualized return of 1.92%, while VWAHX has yielded a comparatively higher 2.95% 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%
VWAHX
- 1D
- 0.19%
- 1M
- -2.87%
- YTD
- -0.65%
- 6M
- 1.03%
- 1Y
- 3.98%
- 3Y*
- 4.41%
- 5Y*
- 1.42%
- 10Y*
- 2.95%
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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.
Return for Risk
PRINX vs. VWAHX — Risk / Return Rank
PRINX
VWAHX
PRINX vs. VWAHX - Risk-Adjusted Trends 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.
| PRINX | VWAHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.74 | 0.87 | -0.13 |
Sortino ratioReturn per unit of downside risk | 1.01 | 1.19 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.56 | 0.95 | -0.39 |
Martin ratioReturn relative to average drawdown | 1.62 | 2.95 | -1.32 |
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 | VWAHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.74 | 0.87 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.30 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.64 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.64 | +0.50 |
Correlation
The correlation between PRINX and VWAHX is 0.88, 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. VWAHX - Dividend Comparison
PRINX's dividend yield for the trailing twelve months is around 3.41%, less than VWAHX's 4.07% 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 4.07% | 4.95% | 4.38% | 3.53% | 3.36% | 2.98% | 3.31% | 3.94% | 3.78% | 3.68% | 3.75% | 3.67% |
Drawdowns
PRINX vs. VWAHX - Drawdown Comparison
The maximum PRINX drawdown since its inception was -16.27%, smaller than the maximum VWAHX drawdown of -40.26%. Use the drawdown chart below to compare losses from any high point for PRINX and VWAHX.
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Drawdown Indicators
| PRINX | VWAHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.27% | -40.26% | +23.99% |
Max Drawdown (1Y)Largest decline over 1 year | -5.44% | -5.63% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -16.27% | -17.32% | +1.05% |
Max Drawdown (10Y)Largest decline over 10 years | -16.27% | -17.32% | +1.05% |
Current DrawdownCurrent decline from peak | -2.72% | -2.87% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -6.95% | +4.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 1.82% | +0.05% |
Volatility
PRINX vs. VWAHX - Volatility Comparison
The current volatility for T. Rowe Price Summit Municipal Income Fund (PRINX) is 1.09%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 1.19%. 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.
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Volatility by Period
| PRINX | VWAHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.19% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.82% | 1.96% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.52% | 5.70% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.34% | 4.75% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 4.61% | -0.34% |