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

11.78 0.00(0.00%) Sep 19

Profile as of Aug 30, 2014Get Profile for:
T. Rowe Price Tax-Free High Yield
100 East Pratt StreetBaltimore MD 21202
Map
Phone: 800-638-5660
Fund Overview 
Category:High Yield Muni
Fund Family:T. Rowe Price
Net Assets:2.96B
Year-to-Date Return:11.62%
Yield:4.24%
Morningstar Rating:4 stars
Fund Inception Date:Mar 1, 1985
Morningstar Style Box 
High Yield Muni
[View Category Definition]
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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 89 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 (Aug 28, 2014) : 0.04
Last Cap Gain : 0.00
Annual Holdings Turnover (Sep 17, 2014) : 22.90%
Average for Category:25.31%
Fees & Expenses 
ExpensePRFHXCategory Avg
Annual Report Expense Ratio (net):0.68%0.97%
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/A2.21%
3 Yr Expense Projection*:218540
5 Yr Expense Projection*:379803
10 Yr Expense Projection*:8471,520
* Per $10,000 invested