PRMDX vs. VWSTX
Compare and contrast key facts about T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX) and Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX).
PRMDX is managed by T. Rowe Price. It was launched on Jan 28, 1993. VWSTX is managed by Vanguard. It was launched on Sep 1, 1977.
Performance
PRMDX vs. VWSTX - Performance Comparison
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PRMDX vs. VWSTX - 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% |
VWSTX Vanguard Short-Term Tax-Exempt Fund Investor Shares | 0.22% | 4.79% | 3.68% | 3.87% | -0.81% | 0.17% | 1.82% | 2.50% | 1.59% | 1.00% |
Returns By Period
In the year-to-date period, PRMDX achieves a 0.43% return, which is significantly higher than VWSTX's 0.22% return. Over the past 10 years, PRMDX has underperformed VWSTX with an annualized return of 1.44%, while VWSTX has yielded a comparatively higher 1.87% 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%
VWSTX
- 1D
- 0.00%
- 1M
- -0.69%
- YTD
- 0.22%
- 6M
- 0.88%
- 1Y
- 3.49%
- 3Y*
- 3.83%
- 5Y*
- 2.35%
- 10Y*
- 1.87%
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PRMDX vs. VWSTX - Expense Ratio Comparison
PRMDX has a 0.53% expense ratio, which is higher than VWSTX's 0.17% expense ratio.
Return for Risk
PRMDX vs. VWSTX — Risk / Return Rank
PRMDX
VWSTX
PRMDX vs. VWSTX - 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 Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX). 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 | VWSTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.00 | 2.74 | +0.27 |
Sortino ratioReturn per unit of downside risk | 5.01 | 5.45 | -0.44 |
Omega ratioGain probability vs. loss probability | 2.37 | 2.30 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 4.16 | 4.12 | +0.04 |
Martin ratioReturn relative to average drawdown | 19.18 | 18.74 | +0.44 |
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
| PRMDX | VWSTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.00 | 2.74 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.09 | 1.99 | -0.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 1.71 | -0.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.45 | 2.03 | -0.58 |
Correlation
The correlation between PRMDX and VWSTX is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PRMDX vs. VWSTX - Dividend Comparison
PRMDX's dividend yield for the trailing twelve months is around 4.73%, more than VWSTX's 3.11% 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% |
VWSTX Vanguard Short-Term Tax-Exempt Fund Investor Shares | 3.11% | 3.90% | 3.73% | 2.42% | 1.16% | 0.61% | 1.17% | 1.71% | 1.45% | 1.06% | 0.87% | 0.70% |
Drawdowns
PRMDX vs. VWSTX - Drawdown Comparison
The maximum PRMDX drawdown since its inception was -4.31%, which is greater than VWSTX's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for PRMDX and VWSTX.
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Drawdown Indicators
| PRMDX | VWSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.31% | -3.09% | -1.22% |
Max Drawdown (1Y)Largest decline over 1 year | -1.36% | -1.01% | -0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -4.31% | -2.32% | -1.99% |
Max Drawdown (10Y)Largest decline over 10 years | -4.31% | -3.08% | -1.23% |
Current DrawdownCurrent decline from peak | -0.77% | -0.69% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -0.32% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 0.22% | +0.08% |
Volatility
PRMDX vs. VWSTX - Volatility Comparison
T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX) has a higher volatility of 0.46% compared to Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX) at 0.28%. This indicates that PRMDX's price experiences larger fluctuations and is considered to be riskier than VWSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRMDX | VWSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 0.28% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 1.04% | 0.75% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.83% | 1.51% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.71% | 1.19% | +0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.62% | 1.10% | +0.52% |