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PRTAX vs. ABHYX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

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.


Performance

PRTAX vs. ABHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Tax Free Income Fund (PRTAX) and American Century High-Yield Municipal Fund (ABHYX). The values are adjusted to include any dividend payments, if applicable.

160.00%170.00%180.00%190.00%200.00%December2025FebruaryMarchAprilMay
170.09%
185.71%
PRTAX
ABHYX

Key characteristics

Sharpe Ratio

PRTAX:

0.08

ABHYX:

0.19

Sortino Ratio

PRTAX:

0.26

ABHYX:

0.40

Omega Ratio

PRTAX:

1.04

ABHYX:

1.07

Calmar Ratio

PRTAX:

0.15

ABHYX:

0.22

Martin Ratio

PRTAX:

0.55

ABHYX:

0.97

Ulcer Index

PRTAX:

1.82%

ABHYX:

1.85%

Daily Std Dev

PRTAX:

6.01%

ABHYX:

6.56%

Max Drawdown

PRTAX:

-17.64%

ABHYX:

-26.33%

Current Drawdown

PRTAX:

-3.65%

ABHYX:

-5.20%

Returns By Period

In the year-to-date period, PRTAX achieves a -1.90% return, which is significantly higher than ABHYX's -2.14% return. Over the past 10 years, PRTAX has underperformed ABHYX with an annualized return of 2.07%, while ABHYX has yielded a comparatively higher 2.94% annualized return.


PRTAX

YTD

-1.90%

1M

1.33%

6M

-1.21%

1Y

0.47%

5Y*

1.60%

10Y*

2.07%

ABHYX

YTD

-2.14%

1M

1.06%

6M

-1.44%

1Y

1.23%

5Y*

2.73%

10Y*

2.94%

*Annualized

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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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRTAX
The Risk-Adjusted Performance Rank of PRTAX is 3030
Overall Rank
The Sharpe Ratio Rank of PRTAX is 2626
Sharpe Ratio Rank
The Sortino Ratio Rank of PRTAX is 2727
Sortino Ratio Rank
The Omega Ratio Rank of PRTAX is 3030
Omega Ratio Rank
The Calmar Ratio Rank of PRTAX is 3535
Calmar Ratio Rank
The Martin Ratio Rank of PRTAX is 3232
Martin Ratio Rank

ABHYX
The Risk-Adjusted Performance Rank of ABHYX is 3737
Overall Rank
The Sharpe Ratio Rank of ABHYX is 3333
Sharpe Ratio Rank
The Sortino Ratio Rank of ABHYX is 3434
Sortino Ratio Rank
The Omega Ratio Rank of ABHYX is 3939
Omega Ratio Rank
The Calmar Ratio Rank of ABHYX is 4040
Calmar Ratio Rank
The Martin Ratio Rank of ABHYX is 4040
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.


The current PRTAX Sharpe Ratio is 0.08, which is lower than the ABHYX Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of PRTAX and ABHYX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.00December2025FebruaryMarchAprilMay
0.08
0.19
PRTAX
ABHYX

Dividends

PRTAX vs. ABHYX - Dividend Comparison

PRTAX's dividend yield for the trailing twelve months is around 3.25%, less than ABHYX's 3.97% yield.


TTM20242023202220212020201920182017201620152014
PRTAX
T. Rowe Price Tax Free Income Fund
3.25%3.36%3.03%3.03%2.42%2.85%3.28%3.61%3.63%3.80%3.79%3.82%
ABHYX
American Century High-Yield Municipal Fund
3.97%4.21%4.01%3.74%2.93%3.36%3.50%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. For additional features, visit the drawdowns tool.


-8.00%-6.00%-4.00%-2.00%0.00%December2025FebruaryMarchAprilMay
-3.65%
-5.20%
PRTAX
ABHYX

Volatility

PRTAX vs. ABHYX - Volatility Comparison

The current volatility for T. Rowe Price Tax Free Income Fund (PRTAX) is 3.76%, while American Century High-Yield Municipal Fund (ABHYX) has a volatility of 4.09%. 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.


1.00%2.00%3.00%4.00%5.00%December2025FebruaryMarchAprilMay
3.76%
4.09%
PRTAX
ABHYX