PRXCX vs. SCHO
Compare and contrast key facts about T. Rowe Price California Tax Free Bond Fund (PRXCX) and Schwab Short-Term U.S. Treasury ETF (SCHO).
PRXCX is managed by T. Rowe Price. It was launched on Sep 14, 1986. SCHO is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US Treasury (1-3 Y) (Inception 4/30/1996). It was launched on Aug 5, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRXCX or SCHO.
Performance
PRXCX vs. SCHO - Performance Comparison
Returns By Period
In the year-to-date period, PRXCX achieves a 2.93% return, which is significantly lower than SCHO's 4.50% return. Over the past 10 years, PRXCX has outperformed SCHO with an annualized return of 2.51%, while SCHO has yielded a comparatively lower 2.06% annualized return.
PRXCX
2.93%
0.37%
3.55%
7.64%
1.43%
2.51%
SCHO
4.50%
-0.16%
3.28%
6.84%
2.24%
2.06%
Key characteristics
| PRXCX | SCHO | |
|---|---|---|
| Sharpe Ratio | 2.11 | 3.35 |
| Sortino Ratio | 3.15 | 5.88 |
| Omega Ratio | 1.50 | 1.80 |
| Calmar Ratio | 1.01 | 7.00 |
| Martin Ratio | 9.96 | 19.65 |
| Ulcer Index | 0.79% | 0.35% |
| Daily Std Dev | 3.71% | 2.05% |
| Max Drawdown | -19.48% | -5.28% |
| Current Drawdown | -1.08% | -0.82% |
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PRXCX vs. SCHO - Expense Ratio Comparison
PRXCX has a 0.53% expense ratio, which is higher than SCHO's 0.05% expense ratio.
Correlation
The correlation between PRXCX and SCHO is 0.37, 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.
Risk-Adjusted Performance
PRXCX vs. SCHO - 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 Schwab Short-Term U.S. Treasury ETF (SCHO). 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. SCHO - Dividend Comparison
PRXCX's dividend yield for the trailing twelve months is around 3.21%, less than SCHO's 5.72% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRXCX T. Rowe Price California Tax Free Bond Fund | 3.21% | 3.04% | 2.83% | 2.51% | 2.73% | 2.93% | 3.11% | 3.09% | 3.34% | 3.43% | 3.60% | 3.95% |
SCHO Schwab Short-Term U.S. Treasury ETF | 5.72% | 6.05% | 2.16% | 0.69% | 1.83% | 3.60% | 3.11% | 1.86% | 1.30% | 1.11% | 0.74% | 0.46% |
Drawdowns
PRXCX vs. SCHO - Drawdown Comparison
The maximum PRXCX drawdown since its inception was -19.48%, which is greater than SCHO's maximum drawdown of -5.28%. Use the drawdown chart below to compare losses from any high point for PRXCX and SCHO. For additional features, visit the drawdowns tool.
Volatility
PRXCX vs. SCHO - Volatility Comparison
T. Rowe Price California Tax Free Bond Fund (PRXCX) has a higher volatility of 1.70% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.38%. This indicates that PRXCX's price experiences larger fluctuations and is considered to be riskier than SCHO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.