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PRXCX vs. SCHO
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

PRXCX vs. SCHO

Last updated May 12, 2025

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.

Correlation

The correlation between PRXCX and SCHO is -0.32. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Performance

PRXCX vs. SCHO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price California Tax Free Bond Fund (PRXCX) and Schwab Short-Term U.S. Treasury ETF (SCHO). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Daily Std Dev

PRXCX:

1.90%

SCHO:

2.16%

Max Drawdown

PRXCX:

-0.10%

SCHO:

-0.21%

Current Drawdown

PRXCX:

-0.10%

SCHO:

-0.21%

Returns By Period

PRXCX

YTD

N/A

1M

N/A

6M

N/A

1Y

N/A

5Y*

N/A

10Y*

N/A

SCHO

YTD

N/A

1M

N/A

6M

N/A

1Y

N/A

5Y*

N/A

10Y*

N/A

*Annualized

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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.

PRXCX
T. Rowe Price California Tax Free Bond Fund
SCHO
Schwab Short-Term U.S. Treasury ETF

Risk-Adjusted Performance

PRXCX vs. SCHO — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PRXCX
The Risk-Adjusted Performance Rank of PRXCX is 2323
Overall Rank
The Sharpe Ratio Rank of PRXCX is 2626
Sharpe Ratio Rank
The Sortino Ratio Rank of PRXCX is 2121
Sortino Ratio Rank
The Omega Ratio Rank of PRXCX is 2121
Omega Ratio Rank
The Calmar Ratio Rank of PRXCX is 2525
Calmar Ratio Rank
The Martin Ratio Rank of PRXCX is 2525
Martin Ratio Rank
SCHO
The Risk-Adjusted Performance Rank of SCHO is 9898
Overall Rank
The Sharpe Ratio Rank of SCHO is 9898
Sharpe Ratio Rank
The Sortino Ratio Rank of SCHO is 9898
Sortino Ratio Rank
The Omega Ratio Rank of SCHO is 9898
Omega Ratio Rank
The Calmar Ratio Rank of SCHO is 9898
Calmar Ratio Rank
The Martin Ratio Rank of SCHO is 9797
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.

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Dividends

PRXCX vs. SCHO - Dividend Comparison

PRXCX's dividend yield for the trailing twelve months is around 3.11%, less than SCHO's 4.23% yield.

TTM20242023202220212020201920182017201620152014
PRXCX
T. Rowe Price California Tax Free Bond Fund		3.11%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SCHO
Schwab Short-Term U.S. Treasury ETF		4.23%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

PRXCX vs. SCHO - Drawdown Comparison

The maximum PRXCX drawdown since its inception was -0.10%, smaller than the maximum SCHO drawdown of -0.21%. Use the drawdown chart below to compare losses from any high point for PRXCX and SCHO. For additional features, visit the drawdowns tool.

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Volatility

PRXCX vs. SCHO - Volatility Comparison

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