PRSMX vs. SWNTX
Compare and contrast key facts about T. Rowe Price Summit Municipal Intermediate Fund (PRSMX) and Schwab Tax-Free Bond Fund™ (SWNTX).
PRSMX is managed by T. Rowe Price. It was launched on Oct 28, 1993. SWNTX is managed by Charles Schwab. It was launched on Sep 10, 1992.
Performance
PRSMX vs. SWNTX - Performance Comparison
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PRSMX vs. SWNTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRSMX T. Rowe Price Summit Municipal Intermediate Fund | -0.54% | 5.01% | 0.87% | 5.02% | -8.09% | 1.49% | 4.47% | 6.51% | 0.80% | 4.20% |
SWNTX Schwab Tax-Free Bond Fund™ | -0.62% | 4.20% | 1.57% | 5.09% | -8.57% | 0.37% | 4.45% | 6.55% | 0.88% | 4.29% |
Returns By Period
In the year-to-date period, PRSMX achieves a -0.54% return, which is significantly higher than SWNTX's -0.62% return. Over the past 10 years, PRSMX has outperformed SWNTX with an annualized return of 1.74%, while SWNTX has yielded a comparatively lower 1.55% annualized return.
PRSMX
- 1D
- 0.09%
- 1M
- -2.58%
- YTD
- -0.54%
- 6M
- 0.99%
- 1Y
- 4.39%
- 3Y*
- 2.64%
- 5Y*
- 0.66%
- 10Y*
- 1.74%
SWNTX
- 1D
- 0.19%
- 1M
- -2.70%
- YTD
- -0.62%
- 6M
- 0.90%
- 1Y
- 3.60%
- 3Y*
- 2.58%
- 5Y*
- 0.44%
- 10Y*
- 1.55%
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PRSMX vs. SWNTX - Expense Ratio Comparison
PRSMX has a 0.50% expense ratio, which is higher than SWNTX's 0.48% expense ratio.
Return for Risk
PRSMX vs. SWNTX — Risk / Return Rank
PRSMX
SWNTX
PRSMX vs. SWNTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Summit Municipal Intermediate Fund (PRSMX) and Schwab Tax-Free Bond Fund™ (SWNTX). 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.
| PRSMX | SWNTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.33 | 1.02 | +0.32 |
Sortino ratioReturn per unit of downside risk | 1.75 | 1.38 | +0.37 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.30 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.08 | +0.02 |
Martin ratioReturn relative to average drawdown | 4.08 | 3.58 | +0.51 |
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
| PRSMX | SWNTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.02 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.13 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.44 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.33 | 1.15 | +0.17 |
Correlation
The correlation between PRSMX and SWNTX is 0.81, 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
PRSMX vs. SWNTX - Dividend Comparison
PRSMX's dividend yield for the trailing twelve months is around 2.96%, less than SWNTX's 3.26% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRSMX T. Rowe Price Summit Municipal Intermediate Fund | 2.96% | 3.16% | 2.37% | 2.02% | 1.75% | 2.05% | 2.30% | 2.42% | 2.49% | 2.49% | 2.71% | 2.62% |
SWNTX Schwab Tax-Free Bond Fund™ | 3.26% | 3.78% | 3.20% | 2.54% | 1.73% | 1.62% | 2.34% | 2.58% | 2.41% | 2.21% | 3.14% | 2.71% |
Drawdowns
PRSMX vs. SWNTX - Drawdown Comparison
The maximum PRSMX drawdown since its inception was -12.30%, smaller than the maximum SWNTX drawdown of -13.26%. Use the drawdown chart below to compare losses from any high point for PRSMX and SWNTX.
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Drawdown Indicators
| PRSMX | SWNTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.30% | -13.26% | +0.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.71% | -4.40% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -12.30% | -13.26% | +0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -12.30% | -13.26% | +0.96% |
Current DrawdownCurrent decline from peak | -2.58% | -2.70% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -1.89% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.33% | -0.33% |
Volatility
PRSMX vs. SWNTX - Volatility Comparison
T. Rowe Price Summit Municipal Intermediate Fund (PRSMX) and Schwab Tax-Free Bond Fund™ (SWNTX) have volatilities of 0.94% and 0.94%, 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.
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Volatility by Period
| PRSMX | SWNTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 0.94% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 1.57% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 4.43% | -0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.10% | 3.45% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.24% | 3.56% | -0.32% |