Correlation
The correlation between PRTAX and ABHYX is -0.08. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
PRTAX vs. ABHYX
Compare and contrast key facts about T. Rowe Price Tax Free Income Fund (PRTAX) and American Century High-Yield Municipal Fund (ABHYX).
PRTAX is managed by T. Rowe Price. It was launched on Oct 25, 1976. ABHYX is managed by American Century Investments. It was launched on Mar 30, 1998.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRTAX or ABHYX.
Performance
PRTAX vs. ABHYX - Performance Comparison
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Key characteristics
PRTAX:
0.13
ABHYX:
0.22
PRTAX:
0.09
ABHYX:
0.24
PRTAX:
1.01
ABHYX:
1.04
PRTAX:
0.03
ABHYX:
0.12
PRTAX:
0.11
ABHYX:
0.49
PRTAX:
1.96%
ABHYX:
2.01%
PRTAX:
6.07%
ABHYX:
6.64%
PRTAX:
-17.64%
ABHYX:
-26.33%
PRTAX:
-4.30%
ABHYX:
-5.65%
Returns By Period
The year-to-date returns for both stocks are quite close, with PRTAX having a -2.56% return and ABHYX slightly lower at -2.58%. Over the past 10 years, PRTAX has underperformed ABHYX with an annualized return of 2.04%, while ABHYX has yielded a comparatively higher 2.93% annualized return.
PRTAX
-2.56%
0.20%
-2.80%
0.76%
2.28%
1.17%
2.04%
ABHYX
-2.58%
0.38%
-2.97%
1.56%
1.92%
2.21%
2.93%
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PRTAX vs. ABHYX - Expense Ratio Comparison
PRTAX has a 0.53% expense ratio, which is lower than ABHYX's 0.59% expense ratio.
Risk-Adjusted Performance
PRTAX vs. ABHYX — Risk-Adjusted Performance Rank
PRTAX
ABHYX
PRTAX vs. ABHYX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Tax Free Income Fund (PRTAX) and American Century High-Yield Municipal Fund (ABHYX). 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.
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Dividends
PRTAX vs. ABHYX - Dividend Comparison
PRTAX's dividend yield for the trailing twelve months is around 3.60%, less than ABHYX's 4.38% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRTAX T. Rowe Price Tax Free Income Fund | 3.60% | 3.36% | 3.03% | 3.03% | 2.42% | 2.85% | 3.28% | 3.61% | 3.64% | 3.82% | 3.79% | 3.83% |
ABHYX American Century High-Yield Municipal Fund | 4.38% | 4.21% | 4.01% | 3.74% | 3.74% | 3.36% | 3.81% | 3.89% | 3.63% | 3.61% | 3.93% | 4.14% |
Drawdowns
PRTAX vs. ABHYX - Drawdown Comparison
The maximum PRTAX drawdown since its inception was -17.64%, smaller than the maximum ABHYX drawdown of -26.33%. Use the drawdown chart below to compare losses from any high point for PRTAX and ABHYX.
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Volatility
PRTAX vs. ABHYX - Volatility Comparison
The current volatility for T. Rowe Price Tax Free Income Fund (PRTAX) is 1.13%, while American Century High-Yield Municipal Fund (ABHYX) has a volatility of 1.33%. This indicates that PRTAX experiences smaller price fluctuations and is considered to be less risky than ABHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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