PRMDX vs. TRBUX
Compare and contrast key facts about T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX).
PRMDX is managed by T. Rowe Price. It was launched on Jan 28, 1993. TRBUX is managed by T. Rowe Price. It was launched on Dec 3, 2012.
Performance
PRMDX vs. TRBUX - Performance Comparison
Loading graphics...
PRMDX vs. TRBUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRMDX T. Rowe Price Maryland Short-Term Tax-Free Bond Fund | 0.43% | 5.65% | 2.22% | 3.36% | -2.29% | 0.30% | 1.15% | 2.52% | 0.98% | 1.09% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 0.65% | 8.98% | 6.48% | 6.99% | -1.28% | 0.22% | 3.11% | 3.60% | 1.88% | 1.83% |
Returns By Period
In the year-to-date period, PRMDX achieves a 0.43% return, which is significantly lower than TRBUX's 0.65% return. Over the past 10 years, PRMDX has underperformed TRBUX with an annualized return of 1.44%, while TRBUX has yielded a comparatively higher 3.34% annualized return.
PRMDX
- 1D
- 0.00%
- 1M
- -0.77%
- YTD
- 0.43%
- 6M
- 1.57%
- 1Y
- 5.25%
- 3Y*
- 3.49%
- 5Y*
- 1.86%
- 10Y*
- 1.44%
TRBUX
- 1D
- 0.00%
- 1M
- -0.39%
- YTD
- 0.65%
- 6M
- 3.19%
- 1Y
- 8.39%
- 3Y*
- 7.01%
- 5Y*
- 4.28%
- 10Y*
- 3.34%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PRMDX vs. TRBUX - Expense Ratio Comparison
PRMDX has a 0.53% expense ratio, which is higher than TRBUX's 0.31% expense ratio.
Return for Risk
PRMDX vs. TRBUX — Risk / Return Rank
PRMDX
TRBUX
PRMDX vs. TRBUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). 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.
| PRMDX | TRBUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.00 | 4.54 | -1.54 |
Sortino ratioReturn per unit of downside risk | 5.01 | 14.92 | -9.91 |
Omega ratioGain probability vs. loss probability | 2.37 | 5.90 | -3.52 |
Calmar ratioReturn relative to maximum drawdown | 4.16 | 22.36 | -18.20 |
Martin ratioReturn relative to average drawdown | 19.18 | 69.43 | -50.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| PRMDX | TRBUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.00 | 4.54 | -1.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.09 | 2.55 | -1.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 2.21 | -1.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.45 | 1.95 | -0.50 |
Correlation
The correlation between PRMDX and TRBUX is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PRMDX vs. TRBUX - Dividend Comparison
PRMDX's dividend yield for the trailing twelve months is around 4.73%, less than TRBUX's 8.06% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRMDX T. Rowe Price Maryland Short-Term Tax-Free Bond Fund | 4.73% | 4.50% | 2.58% | 1.71% | 0.61% | 0.69% | 1.14% | 1.33% | 1.16% | 0.89% | 0.74% | 0.67% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 8.06% | 8.17% | 5.05% | 4.48% | 1.53% | 1.21% | 1.86% | 2.73% | 2.47% | 1.62% | 1.18% | 0.81% |
Drawdowns
PRMDX vs. TRBUX - Drawdown Comparison
The maximum PRMDX drawdown since its inception was -4.31%, roughly equal to the maximum TRBUX drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for PRMDX and TRBUX.
Loading graphics...
Drawdown Indicators
| PRMDX | TRBUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.31% | -4.15% | -0.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.36% | -0.39% | -0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -4.31% | -2.68% | -1.63% |
Max Drawdown (10Y)Largest decline over 10 years | -4.31% | -4.15% | -0.16% |
Current DrawdownCurrent decline from peak | -0.77% | -0.39% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -0.22% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 0.13% | +0.17% |
Volatility
PRMDX vs. TRBUX - Volatility Comparison
T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX) has a higher volatility of 0.46% compared to T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) at 0.27%. This indicates that PRMDX's price experiences larger fluctuations and is considered to be riskier than TRBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| PRMDX | TRBUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 0.27% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 1.04% | 1.32% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.83% | 2.06% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.71% | 1.70% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.62% | 1.52% | +0.10% |