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 U.S. Treasury 1-3 Year Index. It was launched on Aug 5, 2010.
Performance
PRXCX vs. SCHO - Performance Comparison
Loading graphics...
PRXCX vs. SCHO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRXCX T. Rowe Price California Tax Free Bond Fund | 0.20% | 5.51% | 2.75% | 7.64% | -9.93% | 2.68% | 4.39% | 7.31% | 0.75% | 5.54% |
SCHO Schwab Short-Term U.S. Treasury ETF | 0.26% | 5.49% | 3.65% | 4.31% | -3.87% | -0.64% | 3.11% | 3.47% | 1.37% | 0.33% |
Returns By Period
In the year-to-date period, PRXCX achieves a 0.20% return, which is significantly lower than SCHO's 0.26% return. Over the past 10 years, PRXCX has outperformed SCHO with an annualized return of 2.37%, while SCHO has yielded a comparatively lower 1.72% annualized return.
PRXCX
- 1D
- 0.38%
- 1M
- -2.02%
- YTD
- 0.20%
- 6M
- 2.57%
- 1Y
- 6.24%
- 3Y*
- 4.29%
- 5Y*
- 1.55%
- 10Y*
- 2.37%
SCHO
- 1D
- 0.02%
- 1M
- -0.31%
- YTD
- 0.26%
- 6M
- 1.27%
- 1Y
- 3.69%
- 3Y*
- 4.00%
- 5Y*
- 1.79%
- 10Y*
- 1.72%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PRXCX vs. SCHO - Expense Ratio Comparison
PRXCX has a 0.53% expense ratio, which is higher than SCHO's 0.03% expense ratio.
Return for Risk
PRXCX vs. SCHO — Risk / Return Rank
PRXCX
SCHO
PRXCX vs. SCHO - Risk-Adjusted Trends 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.
| PRXCX | SCHO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.19 | 2.44 | -1.25 |
Sortino ratioReturn per unit of downside risk | 1.59 | 3.92 | -2.33 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.50 | -0.18 |
Calmar ratioReturn relative to maximum drawdown | 1.28 | 4.42 | -3.14 |
Martin ratioReturn relative to average drawdown | 4.13 | 17.32 | -13.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| PRXCX | SCHO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 2.44 | -1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.92 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 1.11 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 1.00 | +0.09 |
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.
Dividends
PRXCX vs. SCHO - Dividend Comparison
PRXCX's dividend yield for the trailing twelve months is around 6.38%, more than SCHO's 3.98% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRXCX T. Rowe Price California Tax Free Bond Fund | 6.38% | 6.00% | 3.26% | 3.50% | 2.21% | 2.82% | 2.80% | 2.94% | 3.11% | 3.09% | 3.33% | 3.42% |
SCHO Schwab Short-Term U.S. Treasury ETF | 3.98% | 4.06% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.27% | 1.60% | 1.12% | 0.82% | 0.68% |
Drawdowns
PRXCX vs. SCHO - Drawdown Comparison
The maximum PRXCX drawdown since its inception was -21.67%, which is greater than SCHO's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for PRXCX and SCHO.
Loading graphics...
Drawdown Indicators
| PRXCX | SCHO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.67% | -5.69% | -15.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.56% | -0.86% | -4.70% |
Max Drawdown (5Y)Largest decline over 5 years | -15.41% | -5.69% | -9.72% |
Max Drawdown (10Y)Largest decline over 10 years | -15.41% | -5.69% | -9.72% |
Current DrawdownCurrent decline from peak | -2.38% | -0.43% | -1.95% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -0.61% | -2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.73% | 0.22% | +1.51% |
Volatility
PRXCX vs. SCHO - Volatility Comparison
T. Rowe Price California Tax Free Bond Fund (PRXCX) has a higher volatility of 1.30% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.52%. 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.
Loading graphics...
Volatility by Period
| PRXCX | SCHO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 0.52% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.05% | 0.87% | +1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.63% | 1.52% | +4.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.38% | 1.97% | +2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 1.55% | +2.58% |