PRVAX vs. ADBE
PRVAX (T. Rowe Virginia Tax Free Bond Fund) is Municipal Bonds fund managed by T. Rowe Price, while ADBE (Adobe Inc) is a stock. Over the past 10 years, PRVAX returned 2.13%/yr vs 7.91%/yr for ADBE. At a correlation of -0.05, they often move in opposite directions.
Performance
PRVAX vs. ADBE - Performance Comparison
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Returns By Period
In the year-to-date period, PRVAX achieves a 2.38% return, which is significantly higher than ADBE's -43.59% return. Over the past 10 years, PRVAX has underperformed ADBE with an annualized return of 2.13%, while ADBE has yielded a comparatively higher 7.91% annualized return.
PRVAX
- 1D
- 0.00%
- 1M
- 2.00%
- YTD
- 2.38%
- 6M
- 3.08%
- 1Y
- 9.25%
- 3Y*
- 4.64%
- 5Y*
- 1.25%
- 10Y*
- 2.13%
ADBE
- 1D
- 1.30%
- 1M
- -19.34%
- YTD
- -43.59%
- 6M
- -43.98%
- 1Y
- -48.06%
- 3Y*
- -25.87%
- 5Y*
- -19.34%
- 10Y*
- 7.91%
PRVAX vs. ADBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRVAX T. Rowe Virginia Tax Free Bond Fund | 2.38% | 4.32% | 3.35% | 7.10% | -10.90% | 2.37% | 5.25% | 6.66% | 0.72% | 4.71% |
ADBE Adobe Inc | -43.59% | -21.29% | -25.46% | 77.28% | -40.65% | 13.38% | 51.64% | 45.78% | 29.10% | 70.22% |
Correlation
The correlation between PRVAX and ADBE is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1992 | -0.05 |
The correlation between PRVAX and ADBE shifts across timeframes, from -0.05 (all time) to 0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRVAX vs. ADBE — Risk / Return Rank
PRVAX
ADBE
PRVAX vs. ADBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Virginia Tax Free Bond Fund (PRVAX) and Adobe Inc (ADBE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PRVAX | ADBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.57 | ||
| Sortino ratioReturn per unit of downside risk | +7.16 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 0.74 | +1.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | -0.96 | +4.38 |
| Martin ratioReturn relative to average drawdown | 11.96 | -1.91 | +13.87 |
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Drawdowns
PRVAX vs. ADBE - Drawdown Comparison
The maximum PRVAX drawdown since its inception was -15.93%, smaller than the maximum ADBE drawdown of -79.89%. Use the drawdown chart below to compare losses from any high point for PRVAX and ADBE.
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Drawdown Indicators
| PRVAX | ADBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.93% | -79.89% | +63.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -50.29% | +47.47% |
Max Drawdown (3Y)Largest decline over 3 years | -6.95% | -69.30% | +62.35% |
Max Drawdown (5Y)Largest decline over 5 years | -15.93% | -71.69% | +55.76% |
Max Drawdown (10Y)Largest decline over 10 years | -15.93% | -71.69% | +55.76% |
Current DrawdownCurrent decline from peak | 0.00% | -71.32% | +71.32% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -26.02% | +24.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 25.18% | -24.39% |
Volatility
PRVAX vs. ADBE - Volatility Comparison
The current volatility for T. Rowe Virginia Tax Free Bond Fund (PRVAX) is 0.84%, while Adobe Inc (ADBE) has a volatility of 15.94%. This indicates that PRVAX experiences smaller price fluctuations and is considered to be less risky than ADBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRVAX | ADBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 15.94% | -15.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 29.39% | -27.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 34.73% | -31.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.57% | 36.59% | -32.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 34.45% | -30.26% |
Dividends
PRVAX vs. ADBE - Dividend Comparison
PRVAX's dividend yield for the trailing twelve months is around 4.39%, while ADBE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADBE Adobe Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRVAX T. Rowe Virginia Tax Free Bond Fund | 4.39% | 4.42% | 4.00% | 3.41% | 2.04% | 2.26% | 2.47% | 2.82% | 3.16% | 3.16% | 3.22% | 3.40% |
Frequently Asked Questions
PRVAX and ADBE have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ADBE has higher volatility (15.94%) compared to PRVAX (0.84%). In terms of maximum drawdown, PRVAX dropped -15.93% vs ADBE's -79.89%.
PRVAX currently has the higher Sharpe Ratio (3.18 vs -1.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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