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

Correlation

The correlation between PRXCX and VCITX is 0.88, 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.


-0.50.00.51.00.9

Performance

PRXCX vs. VCITX - 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 Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX). The values are adjusted to include any dividend payments, if applicable.

-1.00%0.00%1.00%2.00%3.00%AugustSeptemberOctoberNovemberDecember2025
1.18%
0.60%
PRXCX
VCITX

Key characteristics

Sharpe Ratio

PRXCX:

1.66

VCITX:

0.79

Sortino Ratio

PRXCX:

2.32

VCITX:

1.11

Omega Ratio

PRXCX:

1.35

VCITX:

1.16

Calmar Ratio

PRXCX:

2.07

VCITX:

0.52

Martin Ratio

PRXCX:

6.46

VCITX:

2.52

Ulcer Index

PRXCX:

1.01%

VCITX:

1.23%

Daily Std Dev

PRXCX:

3.93%

VCITX:

3.88%

Max Drawdown

PRXCX:

-19.48%

VCITX:

-19.43%

Current Drawdown

PRXCX:

-2.16%

VCITX:

-2.35%

Returns By Period

In the year-to-date period, PRXCX achieves a -0.46% return, which is significantly lower than VCITX's -0.26% return. Over the past 10 years, PRXCX has outperformed VCITX with an annualized return of 4.32%, while VCITX has yielded a comparatively lower 2.27% annualized return.


PRXCX

YTD

-0.46%

1M

-0.08%

6M

1.18%

1Y

5.67%

5Y*

3.66%

10Y*

4.32%

VCITX

YTD

-0.26%

1M

0.11%

6M

0.60%

1Y

2.64%

5Y*

0.51%

10Y*

2.27%

*Annualized

Compare stocks, funds, or ETFs

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PRXCX vs. VCITX - Expense Ratio Comparison

PRXCX has a 0.53% expense ratio, which is higher than VCITX's 0.17% expense ratio.


PRXCX
T. Rowe Price California Tax Free Bond Fund
Expense ratio chart for PRXCX: current value at 0.53% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.53%
Expense ratio chart for VCITX: current value at 0.17% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.17%

Risk-Adjusted Performance

PRXCX vs. VCITX — 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 8181
Overall Rank
The Sharpe Ratio Rank of PRXCX is 8282
Sharpe Ratio Rank
The Sortino Ratio Rank of PRXCX is 8282
Sortino Ratio Rank
The Omega Ratio Rank of PRXCX is 8686
Omega Ratio Rank
The Calmar Ratio Rank of PRXCX is 8484
Calmar Ratio Rank
The Martin Ratio Rank of PRXCX is 7171
Martin Ratio Rank

VCITX
The Risk-Adjusted Performance Rank of VCITX is 3939
Overall Rank
The Sharpe Ratio Rank of VCITX is 3939
Sharpe Ratio Rank
The Sortino Ratio Rank of VCITX is 3939
Sortino Ratio Rank
The Omega Ratio Rank of VCITX is 4343
Omega Ratio Rank
The Calmar Ratio Rank of VCITX is 4040
Calmar Ratio Rank
The Martin Ratio Rank of VCITX is 3636
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. VCITX - 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 Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX). 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.


Sharpe ratio
The chart of Sharpe ratio for PRXCX, currently valued at 1.66, compared to the broader market-1.000.001.002.003.004.001.660.79
The chart of Sortino ratio for PRXCX, currently valued at 2.32, compared to the broader market0.002.004.006.008.0010.0012.002.321.11
The chart of Omega ratio for PRXCX, currently valued at 1.35, compared to the broader market1.002.003.004.001.351.16
The chart of Calmar ratio for PRXCX, currently valued at 2.07, compared to the broader market0.005.0010.0015.0020.002.070.52
The chart of Martin ratio for PRXCX, currently valued at 6.46, compared to the broader market0.0020.0040.0060.0080.006.462.52
PRXCX
VCITX

The current PRXCX Sharpe Ratio is 1.66, which is higher than the VCITX Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of PRXCX and VCITX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00AugustSeptemberOctoberNovemberDecember2025
1.66
0.79
PRXCX
VCITX

Dividends

PRXCX vs. VCITX - Dividend Comparison

PRXCX's dividend yield for the trailing twelve months is around 5.72%, more than VCITX's 3.31% yield.


TTM20242023202220212020201920182017201620152014
PRXCX
T. Rowe Price California Tax Free Bond Fund
5.72%5.95%6.08%5.66%5.02%5.45%5.66%5.46%5.16%3.34%3.43%3.60%
VCITX
Vanguard California Long-Term Tax-Exempt Fund Investor Shares
3.31%3.30%2.99%2.66%2.34%2.56%2.93%3.32%3.22%3.45%3.53%3.64%

Drawdowns

PRXCX vs. VCITX - Drawdown Comparison

The maximum PRXCX drawdown since its inception was -19.48%, roughly equal to the maximum VCITX drawdown of -19.43%. Use the drawdown chart below to compare losses from any high point for PRXCX and VCITX. For additional features, visit the drawdowns tool.


-3.50%-3.00%-2.50%-2.00%-1.50%-1.00%-0.50%0.00%AugustSeptemberOctoberNovemberDecember2025
-2.16%
-2.35%
PRXCX
VCITX

Volatility

PRXCX vs. VCITX - Volatility Comparison

T. Rowe Price California Tax Free Bond Fund (PRXCX) has a higher volatility of 1.21% compared to Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) at 1.15%. This indicates that PRXCX's price experiences larger fluctuations and is considered to be riskier than VCITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%AugustSeptemberOctoberNovemberDecember2025
1.21%
1.15%
PRXCX
VCITX
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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