SMB vs. PRMDX
Compare and contrast key facts about VanEck Short Muni ETF (SMB) and T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX).
SMB is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Short Continuous. It was launched on Feb 22, 2008. PRMDX is managed by T. Rowe Price. It was launched on Jan 28, 1993.
Performance
SMB vs. PRMDX - Performance Comparison
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SMB vs. PRMDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | -0.17% | 4.61% | 2.41% | 3.14% | -4.50% | 0.12% | 3.30% | 4.54% | 1.86% | 1.16% |
PRMDX T. Rowe Price Maryland Short-Term Tax-Free Bond Fund | 0.63% | 5.65% | 2.22% | 3.36% | -2.29% | 0.30% | 1.15% | 2.52% | 0.98% | 1.09% |
Returns By Period
In the year-to-date period, SMB achieves a -0.17% return, which is significantly lower than PRMDX's 0.63% return. Both investments have delivered pretty close results over the past 10 years, with SMB having a 1.50% annualized return and PRMDX not far behind at 1.46%.
SMB
- 1D
- 0.03%
- 1M
- -0.85%
- YTD
- -0.17%
- 6M
- 0.63%
- 1Y
- 3.54%
- 3Y*
- 3.00%
- 5Y*
- 1.08%
- 10Y*
- 1.50%
PRMDX
- 1D
- 0.19%
- 1M
- -0.58%
- YTD
- 0.63%
- 6M
- 1.77%
- 1Y
- 5.25%
- 3Y*
- 3.55%
- 5Y*
- 1.90%
- 10Y*
- 1.46%
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SMB vs. PRMDX - Expense Ratio Comparison
SMB has a 0.20% expense ratio, which is lower than PRMDX's 0.53% expense ratio.
Return for Risk
SMB vs. PRMDX — Risk / Return Rank
SMB
PRMDX
SMB vs. PRMDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) and T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX). 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.
| SMB | PRMDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.51 | 3.00 | -1.49 |
Sortino ratioReturn per unit of downside risk | 1.94 | 5.00 | -3.07 |
Omega ratioGain probability vs. loss probability | 1.34 | 2.37 | -1.02 |
Calmar ratioReturn relative to maximum drawdown | 2.29 | 4.16 | -1.87 |
Martin ratioReturn relative to average drawdown | 8.70 | 19.03 | -10.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMB | PRMDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 3.00 | -1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 1.11 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.90 | -0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 1.45 | -1.04 |
Correlation
The correlation between SMB and PRMDX is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SMB vs. PRMDX - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.70%, less than PRMDX's 4.72% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | 2.70% | 2.63% | 2.38% | 1.83% | 1.32% | 1.24% | 1.50% | 1.58% | 1.49% | 1.23% | 1.12% | 1.13% |
PRMDX T. Rowe Price Maryland Short-Term Tax-Free Bond Fund | 4.72% | 4.50% | 2.58% | 1.71% | 0.61% | 0.69% | 1.14% | 1.33% | 1.16% | 0.89% | 0.74% | 0.67% |
Drawdowns
SMB vs. PRMDX - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, which is greater than PRMDX's maximum drawdown of -4.31%. Use the drawdown chart below to compare losses from any high point for SMB and PRMDX.
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Drawdown Indicators
| SMB | PRMDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -4.31% | -8.33% |
Max Drawdown (1Y)Largest decline over 1 year | -1.63% | -1.36% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -7.48% | -4.31% | -3.17% |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | -4.31% | -8.33% |
Current DrawdownCurrent decline from peak | -0.96% | -0.58% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -0.38% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.30% | +0.13% |
Volatility
SMB vs. PRMDX - Volatility Comparison
VanEck Short Muni ETF (SMB) has a higher volatility of 0.58% compared to T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX) at 0.51%. This indicates that SMB's price experiences larger fluctuations and is considered to be riskier than PRMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMB | PRMDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.51% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.19% | 1.04% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 1.83% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 1.71% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 1.62% | +2.65% |