PRXCX vs. SWCAX
Compare and contrast key facts about T. Rowe Price California Tax Free Bond Fund (PRXCX) and Schwab California Tax-Free Bond Fund™ (SWCAX).
PRXCX is managed by T. Rowe Price. It was launched on Sep 14, 1986. SWCAX is managed by Charles Schwab. It was launched on Feb 23, 1992.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRXCX or SWCAX.
Key characteristics
| PRXCX | SWCAX | |
|---|---|---|
| YTD Return | 2.64% | 1.68% |
| 1Y Return | 9.33% | 6.08% |
| 3Y Return (Ann) | -0.11% | -0.45% |
| 5Y Return (Ann) | 1.46% | 0.62% |
| 10Y Return (Ann) | 2.48% | 1.36% |
| Sharpe Ratio | 2.47 | 2.36 |
| Sortino Ratio | 3.75 | 3.60 |
| Omega Ratio | 1.59 | 1.56 |
| Calmar Ratio | 0.99 | 0.79 |
| Martin Ratio | 12.53 | 10.71 |
| Ulcer Index | 0.75% | 0.58% |
| Daily Std Dev | 3.82% | 2.62% |
| Max Drawdown | -19.48% | -13.51% |
| Current Drawdown | -1.36% | -2.17% |
Correlation
The correlation between PRXCX and SWCAX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PRXCX vs. SWCAX - Performance Comparison
In the year-to-date period, PRXCX achieves a 2.64% return, which is significantly higher than SWCAX's 1.68% return. Over the past 10 years, PRXCX has outperformed SWCAX with an annualized return of 2.48%, while SWCAX has yielded a comparatively lower 1.36% 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. SWCAX - Expense Ratio Comparison
PRXCX has a 0.53% expense ratio, which is higher than SWCAX's 0.48% expense ratio.
Risk-Adjusted Performance
PRXCX vs. SWCAX - 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 California Tax-Free Bond Fund™ (SWCAX). 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. SWCAX - Dividend Comparison
PRXCX's dividend yield for the trailing twelve months is around 3.22%, more than SWCAX's 3.07% 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% |
SWCAX Schwab California Tax-Free Bond Fund™ | 3.07% | 2.68% | 2.12% | 1.60% | 1.85% | 2.24% | 2.51% | 2.38% | 2.32% | 2.24% | 2.39% | 2.53% |
Drawdowns
PRXCX vs. SWCAX - Drawdown Comparison
The maximum PRXCX drawdown since its inception was -19.48%, which is greater than SWCAX's maximum drawdown of -13.51%. Use the drawdown chart below to compare losses from any high point for PRXCX and SWCAX. For additional features, visit the drawdowns tool.
Volatility
PRXCX vs. SWCAX - Volatility Comparison
T. Rowe Price California Tax Free Bond Fund (PRXCX) has a higher volatility of 1.93% compared to Schwab California Tax-Free Bond Fund™ (SWCAX) at 1.38%. This indicates that PRXCX's price experiences larger fluctuations and is considered to be riskier than SWCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.