PRTAX vs. VTEB
Compare and contrast key facts about T. Rowe Price Tax Free Income Fund (PRTAX) and Vanguard Tax-Exempt Bond ETF (VTEB).
PRTAX is managed by T. Rowe Price. It was launched on Oct 25, 1976. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRTAX or VTEB.
Key characteristics
| PRTAX | VTEB | |
|---|---|---|
| YTD Return | 2.59% | 1.60% |
| 1Y Return | 9.25% | 7.56% |
| 3Y Return (Ann) | -0.26% | -0.17% |
| 5Y Return (Ann) | 1.49% | 1.30% |
| Sharpe Ratio | 2.46 | 1.80 |
| Sortino Ratio | 3.81 | 2.67 |
| Omega Ratio | 1.59 | 1.36 |
| Calmar Ratio | 0.95 | 0.88 |
| Martin Ratio | 11.51 | 7.97 |
| Ulcer Index | 0.80% | 0.90% |
| Daily Std Dev | 3.76% | 3.98% |
| Max Drawdown | -17.63% | -17.00% |
| Current Drawdown | -1.41% | -1.20% |
Correlation
The correlation between PRTAX and VTEB is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PRTAX vs. VTEB - Performance Comparison
In the year-to-date period, PRTAX achieves a 2.59% return, which is significantly higher than VTEB's 1.60% 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. VTEB - Expense Ratio Comparison
PRTAX has a 0.53% expense ratio, which is higher than VTEB's 0.05% expense ratio.
Risk-Adjusted Performance
PRTAX vs. VTEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Tax Free Income Fund (PRTAX) and Vanguard Tax-Exempt Bond ETF (VTEB). 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. VTEB - Dividend Comparison
PRTAX's dividend yield for the trailing twelve months is around 3.28%, more than VTEB's 3.09% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRTAX T. Rowe Price Tax Free Income Fund | 3.28% | 3.03% | 3.03% | 2.42% | 2.85% | 3.28% | 3.61% | 3.63% | 3.80% | 3.79% | 3.82% | 4.02% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.09% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
PRTAX vs. VTEB - Drawdown Comparison
The maximum PRTAX drawdown since its inception was -17.63%, roughly equal to the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for PRTAX and VTEB. For additional features, visit the drawdowns tool.
Volatility
PRTAX vs. VTEB - Volatility Comparison
T. Rowe Price Tax Free Income Fund (PRTAX) and Vanguard Tax-Exempt Bond ETF (VTEB) have volatilities of 1.89% and 1.96%, 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.