Correlation
The correlation between PRTAX and FHIGX is -0.01. 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. FHIGX
Compare and contrast key facts about T. Rowe Price Tax Free Income Fund (PRTAX) and Fidelity Municipal Income Fund (FHIGX).
PRTAX is managed by T. Rowe Price. It was launched on Oct 25, 1976. FHIGX is managed by Fidelity. It was launched on Dec 1, 1977.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRTAX or FHIGX.
Performance
PRTAX vs. FHIGX - Performance Comparison
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Key characteristics
PRTAX:
0.13
FHIGX:
0.18
PRTAX:
0.09
FHIGX:
0.29
PRTAX:
1.01
FHIGX:
1.05
PRTAX:
0.03
FHIGX:
0.16
PRTAX:
0.11
FHIGX:
0.58
PRTAX:
1.96%
FHIGX:
1.82%
PRTAX:
6.07%
FHIGX:
5.40%
PRTAX:
-17.64%
FHIGX:
-16.91%
PRTAX:
-4.30%
FHIGX:
-4.33%
Returns By Period
In the year-to-date period, PRTAX achieves a -2.56% return, which is significantly lower than FHIGX's -1.82% return. Over the past 10 years, PRTAX has underperformed FHIGX with an annualized return of 2.04%, while FHIGX has yielded a comparatively higher 2.28% annualized return.
PRTAX
-2.56%
0.20%
-2.80%
0.76%
2.28%
1.17%
2.04%
FHIGX
-1.82%
0.43%
-2.13%
1.06%
2.44%
1.09%
2.28%
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PRTAX vs. FHIGX - Expense Ratio Comparison
PRTAX has a 0.53% expense ratio, which is higher than FHIGX's 0.45% expense ratio.
Risk-Adjusted Performance
PRTAX vs. FHIGX — Risk-Adjusted Performance Rank
PRTAX
FHIGX
PRTAX vs. FHIGX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Tax Free Income Fund (PRTAX) and Fidelity Municipal Income Fund (FHIGX). 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. FHIGX - Dividend Comparison
PRTAX's dividend yield for the trailing twelve months is around 3.60%, more than FHIGX's 3.06% 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% |
FHIGX Fidelity Municipal Income Fund | 3.06% | 2.97% | 2.84% | 2.72% | 3.04% | 3.01% | 3.17% | 3.65% | 4.46% | 4.58% | 3.93% | 3.51% |
Drawdowns
PRTAX vs. FHIGX - Drawdown Comparison
The maximum PRTAX drawdown since its inception was -17.64%, roughly equal to the maximum FHIGX drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for PRTAX and FHIGX.
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Volatility
PRTAX vs. FHIGX - Volatility Comparison
T. Rowe Price Tax Free Income Fund (PRTAX) has a higher volatility of 1.13% compared to Fidelity Municipal Income Fund (FHIGX) at 0.94%. This indicates that PRTAX's price experiences larger fluctuations and is considered to be riskier than FHIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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