PRTAX vs. FTABX
Compare and contrast key facts about T. Rowe Price Tax Free Income Fund (PRTAX) and Fidelity Tax-Free Bond Fund (FTABX).
PRTAX is managed by T. Rowe Price. It was launched on Oct 25, 1976. FTABX is managed by Fidelity. It was launched on Apr 10, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRTAX or FTABX.
Key characteristics
| PRTAX | FTABX | |
|---|---|---|
| YTD Return | 3.22% | 2.85% |
| 1Y Return | 8.95% | 8.35% |
| 3Y Return (Ann) | -0.08% | -0.23% |
| 5Y Return (Ann) | 1.62% | 1.63% |
| 10Y Return (Ann) | 2.58% | 2.85% |
| Sharpe Ratio | 2.16 | 2.13 |
| Daily Std Dev | 4.09% | 3.99% |
| Max Drawdown | -17.63% | -15.54% |
| Current Drawdown | -0.80% | -1.31% |
Correlation
The correlation between PRTAX and FTABX is 0.86, 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.
Performance
PRTAX vs. FTABX - Performance Comparison
In the year-to-date period, PRTAX achieves a 3.22% return, which is significantly higher than FTABX's 2.85% return. Over the past 10 years, PRTAX has underperformed FTABX with an annualized return of 2.58%, while FTABX has yielded a comparatively higher 2.85% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PRTAX vs. FTABX - Expense Ratio Comparison
PRTAX has a 0.53% expense ratio, which is higher than FTABX's 0.25% expense ratio.
Risk-Adjusted Performance
PRTAX vs. FTABX - 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 Tax-Free Bond Fund (FTABX). 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.
Dividends
PRTAX vs. FTABX - Dividend Comparison
PRTAX's dividend yield for the trailing twelve months is around 3.22%, more than FTABX's 2.96% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRTAX T. Rowe Price Tax Free Income Fund | 3.22% | 3.03% | 3.03% | 2.42% | 2.85% | 3.28% | 3.61% | 3.64% | 3.82% | 3.79% | 3.84% | 4.02% |
FTABX Fidelity Tax-Free Bond Fund | 2.96% | 2.90% | 2.86% | 2.68% | 2.97% | 2.94% | 3.21% | 3.49% | 3.92% | 3.58% | 3.62% | 3.86% |
Drawdowns
PRTAX vs. FTABX - Drawdown Comparison
The maximum PRTAX drawdown since its inception was -17.63%, which is greater than FTABX's maximum drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for PRTAX and FTABX. For additional features, visit the drawdowns tool.
Volatility
PRTAX vs. FTABX - Volatility Comparison
T. Rowe Price Tax Free Income Fund (PRTAX) has a higher volatility of 0.55% compared to Fidelity Tax-Free Bond Fund (FTABX) at 0.45%. This indicates that PRTAX's price experiences larger fluctuations and is considered to be riskier than FTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.