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T. Rowe Price Tax-Free High Yield (PRFHX)

11.90 Up 0.01(0.08%) Nov 26

Profile as of Oct 30, 2014Get Profile for:
T. Rowe Price Tax-Free High Yield
100 East Pratt StreetBaltimore MD 21202
Phone: 800-638-5660
Fund Overview 
Category:High Yield Muni
Fund Family:T. Rowe Price
Net Assets:3.13B
Year-to-Date Return:13.25%
Morningstar Rating:4 stars
Fund Inception Date:Mar 1, 1985
Morningstar Style Box 
High Yield Muni
[View Category Definition]
View Top High Yield Muni Funds
About the Morningstar Style Box
Management Information 
James M. Murphy
Lead Manager since Jan 31, 2002
Mr. Murphy has been chairman of the committee since 2002 and he is a portfolio manager in T. Rowe Price's Fixed Income Group. He is a vice president of T. Rowe Price Group, Inc.,. Prior to joining the firm in 2000, he worked as a portfolio manager for Prudential Investments. Mr. Murphy received a B.S. in finance from the University of Delaware and an M.B.A. in finance from Seton Hall University. He has also earned the Chartered Financial Analyst accreditation.
Investment Information 
Min Initial Investment:2,500
Min Initial Investment, IRA:1,000
Min Initial Investment, AIP:2,500
Min Subsequent Investment:100
Min Subsequent Investment, IRA:100
Min Subsequent Investment, AIP:100
PRFHX can be purchased from 91 brokerages.

Fund Summary 
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.

Fund Operations 
Last Dividend (Oct 30, 2014) : 0.04
Last Cap Gain : 0.00
Annual Holdings Turnover (Nov 24, 2014) : 22.90%
Average for Category:25.94%
Fees & Expenses 
ExpensePRFHXCategory Avg
Annual Report Expense Ratio (net):0.68%0.99%
Prospectus Net Expense Ratio:0.68%N/A
Prospectus Gross Expense Ratio:0.68%N/A
Max 12b1 Fee:0.00%N/A
Max Front End Sales Load:N/A3.79%
Max Deferred Sales Load: N/A2.18%
3 Yr Expense Projection*:218540
5 Yr Expense Projection*:379803
10 Yr Expense Projection*:8471,519
* Per $10,000 invested