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.
Key characteristics
| PRXCX | SCHO | |
|---|---|---|
| YTD Return | 2.64% | 4.54% |
| 1Y Return | 9.33% | 7.37% |
| 3Y Return (Ann) | -0.11% | 2.34% |
| 5Y Return (Ann) | 1.46% | 2.28% |
| 10Y Return (Ann) | 2.48% | 2.08% |
| Sharpe Ratio | 2.47 | 3.46 |
| Sortino Ratio | 3.75 | 6.12 |
| Omega Ratio | 1.59 | 1.84 |
| Calmar Ratio | 0.99 | 8.04 |
| Martin Ratio | 12.53 | 23.19 |
| Ulcer Index | 0.75% | 0.31% |
| Daily Std Dev | 3.82% | 2.09% |
| Max Drawdown | -19.48% | -5.28% |
| Current Drawdown | -1.36% | -0.77% |
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.
Performance
PRXCX vs. SCHO - Performance Comparison
In the year-to-date period, PRXCX achieves a 2.64% return, which is significantly lower than SCHO's 4.54% return. Over the past 10 years, PRXCX has outperformed SCHO with an annualized return of 2.48%, while SCHO has yielded a comparatively lower 2.08% 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. SCHO - Expense Ratio Comparison
PRXCX has a 0.53% expense ratio, which is higher than SCHO's 0.05% expense ratio.
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 3.22%, less than SCHO's 6.05% 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% |
SCHO Schwab Short-Term U.S. Treasury ETF | 6.05% | 5.36% | 2.26% | 0.74% | 1.98% | 3.39% | 2.62% | 1.67% | 1.36% | 0.90% | 0.67% | 0.45% |
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 1.93% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.37%. 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.