SWCAX vs. PRXCX
Compare and contrast key facts about Schwab California Tax-Free Bond Fund™ (SWCAX) and T. Rowe Price California Tax Free Bond Fund (PRXCX).
SWCAX is managed by Charles Schwab. It was launched on Feb 23, 1992. PRXCX is managed by T. Rowe Price. It was launched on Sep 14, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SWCAX or PRXCX.
Key characteristics
| SWCAX | PRXCX | |
|---|---|---|
| YTD Return | 1.68% | 2.64% |
| 1Y Return | 6.08% | 9.33% |
| 3Y Return (Ann) | -0.45% | -0.11% |
| 5Y Return (Ann) | 0.62% | 1.46% |
| 10Y Return (Ann) | 1.36% | 2.48% |
| Sharpe Ratio | 2.36 | 2.47 |
| Sortino Ratio | 3.60 | 3.75 |
| Omega Ratio | 1.56 | 1.59 |
| Calmar Ratio | 0.79 | 0.99 |
| Martin Ratio | 10.71 | 12.53 |
| Ulcer Index | 0.58% | 0.75% |
| Daily Std Dev | 2.62% | 3.82% |
| Max Drawdown | -13.51% | -19.48% |
| Current Drawdown | -2.17% | -1.36% |
Correlation
The correlation between SWCAX and PRXCX 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
SWCAX vs. PRXCX - Performance Comparison
In the year-to-date period, SWCAX achieves a 1.68% return, which is significantly lower than PRXCX's 2.64% return. Over the past 10 years, SWCAX has underperformed PRXCX with an annualized return of 1.36%, while PRXCX has yielded a comparatively higher 2.48% 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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SWCAX vs. PRXCX - Expense Ratio Comparison
SWCAX has a 0.48% expense ratio, which is lower than PRXCX's 0.53% expense ratio.
Risk-Adjusted Performance
SWCAX vs. PRXCX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab California Tax-Free Bond Fund™ (SWCAX) and T. Rowe Price California Tax Free Bond Fund (PRXCX). 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
SWCAX vs. PRXCX - Dividend Comparison
SWCAX's dividend yield for the trailing twelve months is around 3.07%, less than PRXCX's 3.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Drawdowns
SWCAX vs. PRXCX - Drawdown Comparison
The maximum SWCAX drawdown since its inception was -13.51%, smaller than the maximum PRXCX drawdown of -19.48%. Use the drawdown chart below to compare losses from any high point for SWCAX and PRXCX. For additional features, visit the drawdowns tool.
Volatility
SWCAX vs. PRXCX - Volatility Comparison
The current volatility for Schwab California Tax-Free Bond Fund™ (SWCAX) is 1.38%, while T. Rowe Price California Tax Free Bond Fund (PRXCX) has a volatility of 1.93%. This indicates that SWCAX experiences smaller price fluctuations and is considered to be less risky than PRXCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.