PRXCX vs. VTEB
Compare and contrast key facts about T. Rowe Price California Tax Free Bond Fund (PRXCX) and Vanguard Tax-Exempt Bond ETF (VTEB).
PRXCX is managed by T. Rowe Price. It was launched on Sep 14, 1986. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRXCX or VTEB.
Key characteristics
| PRXCX | VTEB | |
|---|---|---|
| YTD Return | 2.64% | 1.60% |
| 1Y Return | 9.33% | 7.56% |
| 3Y Return (Ann) | -0.11% | -0.17% |
| 5Y Return (Ann) | 1.46% | 1.30% |
| Sharpe Ratio | 2.47 | 1.80 |
| Sortino Ratio | 3.75 | 2.67 |
| Omega Ratio | 1.59 | 1.36 |
| Calmar Ratio | 0.99 | 0.88 |
| Martin Ratio | 12.53 | 7.97 |
| Ulcer Index | 0.75% | 0.90% |
| Daily Std Dev | 3.82% | 3.98% |
| Max Drawdown | -19.48% | -17.00% |
| Current Drawdown | -1.36% | -1.20% |
Correlation
The correlation between PRXCX and VTEB is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PRXCX vs. VTEB - Performance Comparison
In the year-to-date period, PRXCX achieves a 2.64% return, which is significantly higher than VTEB's 1.60% 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. VTEB - Expense Ratio Comparison
PRXCX has a 0.53% expense ratio, which is higher than VTEB's 0.05% expense ratio.
Risk-Adjusted Performance
PRXCX vs. VTEB - 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 Tax-Exempt Bond ETF (VTEB). 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. VTEB - Dividend Comparison
PRXCX's dividend yield for the trailing twelve months is around 3.22%, more than VTEB's 3.09% 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.09% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
PRXCX vs. VTEB - Drawdown Comparison
The maximum PRXCX drawdown since its inception was -19.48%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for PRXCX and VTEB. For additional features, visit the drawdowns tool.
Volatility
PRXCX vs. VTEB - Volatility Comparison
T. Rowe Price California Tax Free Bond Fund (PRXCX) and Vanguard Tax-Exempt Bond ETF (VTEB) have volatilities of 1.93% and 1.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.