PRXCX vs. PBDIX
Compare and contrast key facts about T. Rowe Price California Tax Free Bond Fund (PRXCX) and T. Rowe Price QM U.S. Bond Index Fund (PBDIX).
PRXCX is managed by T. Rowe Price. It was launched on Sep 14, 1986. PBDIX is managed by T. Rowe Price.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRXCX or PBDIX.
Key characteristics
| PRXCX | PBDIX | |
|---|---|---|
| YTD Return | 2.64% | 2.35% |
| 1Y Return | 9.33% | 9.07% |
| 3Y Return (Ann) | -0.11% | -2.58% |
| 5Y Return (Ann) | 1.46% | 0.27% |
| 10Y Return (Ann) | 2.48% | 1.63% |
| Sharpe Ratio | 2.47 | 1.35 |
| Sortino Ratio | 3.75 | 2.00 |
| Omega Ratio | 1.59 | 1.24 |
| Calmar Ratio | 0.99 | 0.49 |
| Martin Ratio | 12.53 | 4.93 |
| Ulcer Index | 0.75% | 1.65% |
| Daily Std Dev | 3.82% | 6.04% |
| Max Drawdown | -19.48% | -19.26% |
| Current Drawdown | -1.36% | -8.88% |
Correlation
The correlation between PRXCX and PBDIX is 0.57, 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
PRXCX vs. PBDIX - Performance Comparison
In the year-to-date period, PRXCX achieves a 2.64% return, which is significantly higher than PBDIX's 2.35% return. Over the past 10 years, PRXCX has outperformed PBDIX with an annualized return of 2.48%, while PBDIX has yielded a comparatively lower 1.63% annualized 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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PRXCX vs. PBDIX - Expense Ratio Comparison
PRXCX has a 0.53% expense ratio, which is higher than PBDIX's 0.23% expense ratio.
Risk-Adjusted Performance
PRXCX vs. PBDIX - 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 T. Rowe Price QM U.S. Bond Index Fund (PBDIX). 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
PRXCX vs. PBDIX - Dividend Comparison
PRXCX's dividend yield for the trailing twelve months is around 3.22%, less than PBDIX's 3.97% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRXCX T. Rowe Price California Tax Free Bond Fund | 3.22% | 3.04% | 2.83% | 2.51% | 2.73% | 2.93% | 3.11% | 3.09% | 3.34% | 3.43% | 3.60% | 3.95% |
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 3.97% | 3.49% | 2.74% | 1.85% | 4.85% | 2.92% | 2.94% | 2.75% | 2.78% | 2.90% | 2.86% | 3.05% |
Drawdowns
PRXCX vs. PBDIX - Drawdown Comparison
The maximum PRXCX drawdown since its inception was -19.48%, roughly equal to the maximum PBDIX drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for PRXCX and PBDIX. For additional features, visit the drawdowns tool.
Volatility
PRXCX vs. PBDIX - Volatility Comparison
T. Rowe Price California Tax Free Bond Fund (PRXCX) has a higher volatility of 1.93% compared to T. Rowe Price QM U.S. Bond Index Fund (PBDIX) at 1.59%. This indicates that PRXCX's price experiences larger fluctuations and is considered to be riskier than PBDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.