11.68 Down -0.02 -0.17%
DETAILS
Symbol Value ($)
Morningstar Rating
Previous Close 11.70
Category High Yield Muni
Net Assets 2.93 Bil
Yield 4.31%
Morningstar Risk Average
Morningstar Return Above Average
  • Last NAV update 7/30/2014 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 (BB and lower, or an equivalent rating) by a major credit rating agency or by T. Rowe Price, known as "junk" bonds, and may buy these 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 $10,000
  2010 2011 2012 2013 2014
Return 3.91% 10.97% 13.65% -4.51% 9.98%
Value ($) 10,391.19 11,530.89 13,104.53 12,514.02 13,762.72
  • Year to date performance as of 7/30/2014 12:00 AM ET
MANAGEMENT & PURCHASE INFO
Symbol Value ($)
Fund Family T. Rowe Price
Fund Manager James Murphy
Tenure (Years) 12
Fund Status Open
Minimum Initial Purchase 2,500.00
Minimum IRA Investment 1,000.00
Front Load 0.00
Expense Ratio 0.68%
PERFORMANCE
Symbol Value ($)
1 Month 0.25%
3 Months 2.45%
1 Year 10.38%
3 Years* 7.81%
5 Years* 8.83%
  • * Annualized returns
  • Performance as of 7/30/2014 12:00 AM ET
PEER COMPARISON
  PRFHX High Yield Muni
5-Yr Return 8.83% 8.30%
Sharpe Ratio 1.46 1.11
Net Assets 2.93 Bil 376.41 Mil
Avg Market Cap 30.68 Bil 30.94 Bil
Avg P/E 8.62 NA
Portfolio Turnover 23 33
HOLDINGS
Symbol Value ($)
Stocks 1.34%
Cash 0.12%
Fixed Income 98.54%
Other 0.00%
TOP 10 HOLDINGS
NAME % NET ASSETS
American Airlines Group Inc 1.33%
St John Baptist Parish La Rev Rev 5.125% 0.99%
Texas Mun Gas Acquisition & Su Sr 6.25% 0.93%
New York Liberty Dev Corp Libe Lib 5.75% 0.92%
Metropolitan Pier & Exposition Bds 5.25% 0.84%
New York Liberty Dev Corp Libe Se 6.375% 0.84%
Virginia Small Busn Fing A Rev Bds 5% 0.76%
Golden St Tob Securitization C Toba 4.5% 0.74%
Karegnondi Wtr Auth 5.25% 0.74%
Public Auth 6.5% 0.74%
DATA PROVIDERS

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