PRVAX vs. PGR
PRVAX (T. Rowe Virginia Tax Free Bond Fund) is Municipal Bonds fund managed by T. Rowe Price, while PGR (The Progressive Corporation) is a stock. Over the past 10 years, PRVAX returned 2.13%/yr vs 24.55%/yr for PGR. At a correlation of -0.03, they often move in opposite directions.
Performance
PRVAX vs. PGR - 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 PGR's 0.79% return. Over the past 10 years, PRVAX has underperformed PGR with an annualized return of 2.13%, while PGR has yielded a comparatively higher 24.55% 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%
PGR
- 1D
- 4.01%
- 1M
- 8.11%
- YTD
- 0.79%
- 6M
- 0.71%
- 1Y
- -13.77%
- 3Y*
- 21.14%
- 5Y*
- 20.31%
- 10Y*
- 24.55%
PRVAX vs. PGR - 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% |
PGR The Progressive Corporation | 0.79% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 41.48% | 25.14% | 9.39% | 61.59% |
Correlation
The correlation between PRVAX and PGR 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 | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1992 | -0.03 |
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Return for Risk
PRVAX vs. PGR — Risk / Return Rank
PRVAX
PGR
PRVAX vs. PGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Virginia Tax Free Bond Fund (PRVAX) and The Progressive Corporation (PGR). 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 | PGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.79 | ||
| Sortino ratioReturn per unit of downside risk | +5.72 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 0.91 | +0.88 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | -0.58 | +3.99 |
| Martin ratioReturn relative to average drawdown | 11.96 | -0.88 | +12.84 |
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Drawdowns
PRVAX vs. PGR - Drawdown Comparison
The maximum PRVAX drawdown since its inception was -15.93%, smaller than the maximum PGR drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for PRVAX and PGR.
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Drawdown Indicators
| PRVAX | PGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.93% | -71.06% | +55.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -24.02% | +21.20% |
Max Drawdown (3Y)Largest decline over 3 years | -6.95% | -30.35% | +23.40% |
Max Drawdown (5Y)Largest decline over 5 years | -15.93% | -30.35% | +14.42% |
Max Drawdown (10Y)Largest decline over 10 years | -15.93% | -30.35% | +14.42% |
Current DrawdownCurrent decline from peak | 0.00% | -21.10% | +21.10% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -14.54% | +12.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 15.74% | -14.95% |
Volatility
PRVAX vs. PGR - Volatility Comparison
The current volatility for T. Rowe Virginia Tax Free Bond Fund (PRVAX) is 0.84%, while The Progressive Corporation (PGR) has a volatility of 7.85%. This indicates that PRVAX experiences smaller price fluctuations and is considered to be less risky than PGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRVAX | PGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 7.85% | -7.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 16.67% | -14.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 22.77% | -19.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.57% | 24.60% | -20.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 24.51% | -20.32% |
Dividends
PRVAX vs. PGR - Dividend Comparison
PRVAX's dividend yield for the trailing twelve months is around 4.39%, less than PGR's 6.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGR The Progressive Corporation | 6.44% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
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 PGR 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.
PGR has higher volatility (7.85%) compared to PRVAX (0.84%). In terms of maximum drawdown, PRVAX dropped -15.93% vs PGR's -71.06%.
PRVAX currently has the higher Sharpe Ratio (3.18 vs -0.61), 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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