Correlation
The correlation between PRXCX and BCHYX is 0.00, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
PRXCX vs. BCHYX
Compare and contrast key facts about T. Rowe Price California Tax Free Bond Fund (PRXCX) and American Century California High Yield Municipal Fund (BCHYX).
PRXCX is managed by T. Rowe Price. It was launched on Sep 14, 1986. BCHYX is managed by American Century Investments. It was launched on Dec 29, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRXCX or BCHYX.
Performance
PRXCX vs. BCHYX - Performance Comparison
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Key characteristics
PRXCX:
0.11
BCHYX:
0.18
PRXCX:
0.18
BCHYX:
0.21
PRXCX:
1.03
BCHYX:
1.04
PRXCX:
0.10
BCHYX:
0.10
PRXCX:
0.31
BCHYX:
0.37
PRXCX:
2.11%
BCHYX:
2.21%
PRXCX:
6.01%
BCHYX:
6.37%
PRXCX:
-19.48%
BCHYX:
-17.63%
PRXCX:
-4.47%
BCHYX:
-5.89%
Returns By Period
The year-to-date returns for both stocks are quite close, with PRXCX having a -2.81% return and BCHYX slightly lower at -2.86%. Over the past 10 years, PRXCX has underperformed BCHYX with an annualized return of 2.14%, while BCHYX has yielded a comparatively higher 2.52% annualized return.
PRXCX
-2.81%
-1.05%
-4.13%
0.54%
1.74%
1.04%
2.14%
BCHYX
-2.86%
-1.16%
-4.32%
0.71%
1.21%
1.10%
2.52%
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PRXCX vs. BCHYX - Expense Ratio Comparison
PRXCX has a 0.53% expense ratio, which is higher than BCHYX's 0.49% expense ratio.
Risk-Adjusted Performance
PRXCX vs. BCHYX — Risk-Adjusted Performance Rank
PRXCX
BCHYX
PRXCX vs. BCHYX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price California Tax Free Bond Fund (PRXCX) and American Century California High Yield Municipal Fund (BCHYX). 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.
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Dividends
PRXCX vs. BCHYX - Dividend Comparison
PRXCX's dividend yield for the trailing twelve months is around 3.12%, less than BCHYX's 3.59% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRXCX T. Rowe Price California Tax Free Bond Fund | 3.12% | 3.26% | 3.04% | 2.93% | 2.82% | 2.81% | 2.93% | 3.12% | 3.09% | 3.35% | 3.43% | 3.62% |
BCHYX American Century California High Yield Municipal Fund | 3.59% | 3.76% | 3.67% | 3.43% | 2.94% | 3.07% | 3.24% | 3.50% | 3.48% | 3.61% | 3.70% | 3.87% |
Drawdowns
PRXCX vs. BCHYX - Drawdown Comparison
The maximum PRXCX drawdown since its inception was -19.48%, which is greater than BCHYX's maximum drawdown of -17.63%. Use the drawdown chart below to compare losses from any high point for PRXCX and BCHYX.
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Volatility
PRXCX vs. BCHYX - Volatility Comparison
The current volatility for T. Rowe Price California Tax Free Bond Fund (PRXCX) is 0.85%, while American Century California High Yield Municipal Fund (BCHYX) has a volatility of 0.96%. This indicates that PRXCX experiences smaller price fluctuations and is considered to be less risky than BCHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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