11.48 Up unch unch
DETAILS
Symbol Value ($)
Morningstar Rating
Previous Close 11.48
Category High Yield Muni
Net Assets 2.68 Bil
Yield 4.43%
Morningstar Risk Average
Morningstar Return Above Average
  • Last NAV update 4/16/2014 4:00 PM ET
INVESTMENT OBJECTIVE
NA
The investment seeks a high level of income exempt from federal income taxes. The fund invests primarily in long-term municipal securities and its weighted average maturity is expected to normally exceed 10 years. It normally invests a substantial portion of its assets in municipal bonds that are rated noninvestment-grade by a major credit rating agency or by T. Rowe Price, known as "junk" bonds in the taxable bond market, and may buy bonds in default as long as they do not exceed 10% of the fund's total assets. Normally, at least 80% of the fund's income will be exempt from federal income taxes.
CUMULATIVE PERFORMANCE OF $10,000
  2010 2011 2012 2013 2014
Return 3.91% 10.97% 13.65% -4.51% 6.80%
Value ($) 10,391.19 11,530.89 13,104.53 12,514.02 13,365.13
  • Year to date performance as of 4/16/2014 12:00 AM ET
MANAGEMENT & PURCHASE INFO
Symbol Value ($)
Fund Family T. Rowe Price
Fund Manager James Murphy
Tenure (Years) 12
Fund Status Open
Minimum Initial Purchase 2,500.00
Minimum IRA Investment 1,000.00
Front Load 0.00
Expense Ratio 0.67%
PERFORMANCE
Symbol Value ($)
1 Month 1.43%
3 Months 4.68%
1 Year 0.03%
3 Years* 8.80%
5 Years* 10.19%
  • * Annualized returns
  • Performance as of 4/16/2014 12:00 AM ET
PEER COMPARISON
  PRFHX High Yield Muni
5-Yr Return 10.19% 9.46%
Sharpe Ratio 1.51 -0.21
Net Assets 2.68 Bil 376.41 Mil
Avg Market Cap 7.78 Bil 17.26 Bil
Avg P/E 12.52 NA
Portfolio Turnover 12 32
HOLDINGS
Symbol Value ($)
Stocks 1.35%
Cash 0.14%
Fixed Income 98.44%
Other 0.07%
TOP 10 HOLDINGS
NAME % NET ASSETS
Amer Airls Grp Pfd 1.34%
Texas Mun Gas Acquisition & Su Sr 6.25% 1.16%
New York Liberty Dev Corp Libe Lib 5.75% 1.14%
New York Liberty Dev Corp Libe Se 6.375% 1.06%
Metropolitan Pier & Exposition Bds 5.25% 1.03%
St John Baptist Parish La Rev Rev 5.125% 0.97%
Seminole Tribe Fla Spl Obl R Speci 5.25% 0.89%
Virginia Small Busn Fing A Rev Bds 5% 0.86%
Mashantucket Western Pequot Tr Bd 6.05% 0.83%
Route 460 Fdg Corp Va Toll Rd Toll Rd 5% 0.79%
DATA PROVIDERS

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