PRVAX vs. BIPC
PRVAX (T. Rowe Virginia Tax Free Bond Fund) is Municipal Bonds fund managed by T. Rowe Price, while BIPC (Brookfield Infrastructure Corporation) is a stock. Over the past year, PRVAX returned 9.25% vs -2.47% for BIPC. At a 0.09 correlation, their price movements are largely independent.
Performance
PRVAX vs. BIPC - 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 BIPC's -12.81% 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%
BIPC
- 1D
- 2.48%
- 1M
- -6.94%
- YTD
- -12.81%
- 6M
- -14.78%
- 1Y
- -2.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRVAX vs. BIPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PRVAX T. Rowe Virginia Tax Free Bond Fund | 2.38% | 4.32% | 0.55% |
BIPC Brookfield Infrastructure Corporation | -12.81% | 18.32% | 3.65% |
Correlation
The correlation between PRVAX and BIPC is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 27, 2024 | 0.09 |
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Return for Risk
PRVAX vs. BIPC — Risk / Return Rank
PRVAX
BIPC
PRVAX vs. BIPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Virginia Tax Free Bond Fund (PRVAX) and Brookfield Infrastructure Corporation (BIPC). 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 | BIPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.27 | ||
| Sortino ratioReturn per unit of downside risk | +4.91 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 1.01 | +0.79 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | -0.08 | +3.50 |
| Martin ratioReturn relative to average drawdown | 11.96 | -0.22 | +12.18 |
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Drawdowns
PRVAX vs. BIPC - Drawdown Comparison
The maximum PRVAX drawdown since its inception was -15.93%, smaller than the maximum BIPC drawdown of -29.77%. Use the drawdown chart below to compare losses from any high point for PRVAX and BIPC.
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Drawdown Indicators
| PRVAX | BIPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.93% | -29.77% | +13.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -29.77% | +26.95% |
Max Drawdown (3Y)Largest decline over 3 years | -6.95% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.93% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -22.38% | +22.38% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -8.17% | +6.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 11.28% | -10.49% |
Volatility
PRVAX vs. BIPC - Volatility Comparison
The current volatility for T. Rowe Virginia Tax Free Bond Fund (PRVAX) is 0.84%, while Brookfield Infrastructure Corporation (BIPC) has a volatility of 7.16%. This indicates that PRVAX experiences smaller price fluctuations and is considered to be less risky than BIPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRVAX | BIPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 7.16% | -6.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 22.91% | -20.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 28.44% | -25.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.57% | 29.70% | -25.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 29.70% | -25.51% |
Dividends
PRVAX vs. BIPC - Dividend Comparison
PRVAX's dividend yield for the trailing twelve months is around 4.39%, less than BIPC's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIPC Brookfield Infrastructure Corporation | 4.56% | 3.79% | 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 BIPC have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIPC has higher volatility (7.16%) compared to PRVAX (0.84%). In terms of maximum drawdown, PRVAX dropped -15.93% vs BIPC's -29.77%.
PRVAX currently has the higher Sharpe Ratio (3.18 vs -0.09), 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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