Correlation
The correlation between PRXCX and SCHO is -0.16. 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.
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
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Key characteristics
PRXCX:
0.11
SCHO:
3.25
PRXCX:
0.18
SCHO:
5.30
PRXCX:
1.03
SCHO:
1.72
PRXCX:
0.10
SCHO:
6.01
PRXCX:
0.31
SCHO:
16.71
PRXCX:
2.11%
SCHO:
0.35%
PRXCX:
6.01%
SCHO:
1.80%
PRXCX:
-19.48%
SCHO:
-5.69%
PRXCX:
-4.47%
SCHO:
-0.23%
Returns By Period
In the year-to-date period, PRXCX achieves a -2.81% return, which is significantly lower than SCHO's 2.51% return. Over the past 10 years, PRXCX has outperformed SCHO with an annualized return of 2.14%, while SCHO has yielded a comparatively lower 1.49% annualized return.
PRXCX
-2.81%
-0.95%
-4.13%
0.64%
1.74%
1.04%
2.14%
SCHO
2.51%
-0.23%
2.39%
5.79%
2.97%
1.17%
1.49%
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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 Rank
PRXCX
SCHO
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 3.12%, less than SCHO's 4.22% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRXCX T. Rowe Price California Tax Free Bond Fund | 3.12% | 3.26% | 3.04% | 2.93% | 2.82% | 2.81% | 2.93% | 3.12% | 3.09% | 3.35% | 3.43% | 3.62% |
SCHO Schwab Short-Term U.S. Treasury ETF | 4.22% | 4.29% | 3.76% | 1.34% | 0.41% | 1.27% | 2.26% | 1.78% | 1.12% | 0.82% | 0.68% | 0.47% |
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 -5.69%. Use the drawdown chart below to compare losses from any high point for PRXCX and SCHO.
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Volatility
PRXCX vs. SCHO - Volatility Comparison
T. Rowe Price California Tax Free Bond Fund (PRXCX) has a higher volatility of 0.85% compared to Schwab Short-Term U.S. Treasury ETF (SCHO) at 0.49%. 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.
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