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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$1.00

$1.33 B

2.89%

$0.03

0.44%

Vitals

YTD Return

0.8%

1 yr return

3.0%

3 Yr Avg Return

1.4%

5 Yr Avg Return

1.0%

Net Assets

$1.33 B

Holdings in Top 10

17.9%

52 WEEK LOW AND HIGH

$1.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.44%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Money Market Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$1.00

$1.33 B

2.89%

$0.03

0.44%

PTEXX - Profile

Distributions

  • YTD Total Return 0.8%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.01%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    T. Rowe Price Tax-Exempt Money Fund, Inc.
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Apr 08, 1981
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Douglas Spratley

Fund Description

The fund is a retail money market fund managed in compliance with Rule 2a-7 under the Investment Company Act of 1940.

The securities purchased by the fund are subject to the maturity, credit quality, diversification, liquidity, and other requirements of Rule 2a-7. All securities purchased by the fund present minimal credit risk in the opinion of T. Rowe Price. The fund is managed to provide a stable share price of $1.00 by investing in high-quality U.S. dollar-denominated municipal securities whose income is expected to be exempt from federal income taxes. The fund’s weighted average maturity will not exceed 60 calendar days, the fund’s weighted average life will not exceed 120 calendar days, and the fund will not purchase any security with a remaining maturity longer than 397 calendar days (unless otherwise permitted by Rule 2a-7, such as certain variable and floating rate instruments). When calculating its weighted average maturity, the fund may shorten its maturity by using the interest rate resets of certain adjustable rate securities. The fund may not take into account these resets when calculating its weighted average life.

In selecting securities for the fund, the portfolio manager may examine relationships among yields of various types and maturities of money market securities in the context of interest rate outlooks. The fund’s yield will fluctuate with changes in short-term interest rates.

Normally, at least 80% of the fund’s income will be exempt from federal income taxes. The fund does not purchase securities that are subject to the alternative minimum tax.

It is possible that 25% or more of the fund’s assets could be invested in municipal securities that would tend to respond similarly to particular economic or political developments. For example, the fund may invest in securities of issuers whose revenues are generated from similar types of projects or operate in similar industries.

Although the fund may invest more than 25% of its net assets in industrial development bonds, the fund limits its investments in industrial development bonds that are supported principally by the assets or revenues of non-governmental users related to the same industry to 25% of its net assets. Bonds that are refunded with escrowed U.S. government securities are not subject to the 25% limitation. Refunded bonds may have originally been issued as general obligation or revenue bonds, but become “refunded” when they are secured by an escrow fund, usually consisting entirely of direct U.S. government obligations and/or U.S. government agency obligations.

In accordance with the requirements for “retail money market funds” under Rule 2a-7, the fund has implemented policies and procedures designed to limit accounts to only those beneficially owned by natural persons. The fund has also obtained assurances from financial intermediaries that sell the fund that they have developed adequate procedures to limit accounts to only those beneficially owned by natural persons. Any new investors wishing to purchase shares will be required to demonstrate eligibility (for example, by providing their Social Security number). The fund will, upon advance written notification, involuntarily redeem investors that do not satisfy these eligibility requirements.

Pursuant to Rule 2a-7, if the fund’s weekly liquid assets fall below 30% of its total assets, the fund’s Board of Directors, in its discretion, may impose liquidity fees of up to 2% of the value of the shares redeemed or temporarily suspend redemptions from the fund for up to 10 business days during any 90-day period (i.e., a “redemption gate”). In addition, if the fund’s weekly liquid assets fall below 10% of its total assets at the end of any business day, the fund must impose a 1% liquidity fee on shareholder redemptions unless the fund’s Board of Directors determines that not doing so is in the best interests of the fund. Pursuant to Rule 2a-7, weekly liquid assets include cash, U.S. Treasuries, other government securities with remaining maturities of 60 days or less, or securities that mature or are subject to a demand feature within five business days.

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PTEXX - Performance

Return Ranking - Trailing

Period PTEXX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% 0.2% 1.3% 47.95%
1 Yr 3.0% 1.8% 5.2% 54.79%
3 Yr 1.4%* 0.9% 2.5% 58.46%
5 Yr 1.0%* 0.6% 1.9% 59.70%
10 Yr 0.7%* 0.4% 1.0% 61.70%

* Annualized

Return Ranking - Calendar

Period PTEXX Return Category Return Low Category Return High Rank in Category (%)
2023 0.0% 0.0% 0.0% 10.47%
2022 0.0% 0.0% 0.0% 4.65%
2021 0.0% 0.0% 0.0% 5.13%
2020 0.0% 0.0% 0.0% 5.41%
2019 0.0% 0.0% 0.0% 5.13%

Total Return Ranking - Trailing

Period PTEXX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% 0.2% 1.3% 47.95%
1 Yr 3.0% 1.8% 5.2% 54.79%
3 Yr 1.4%* 0.9% 2.5% 58.46%
5 Yr 1.0%* 0.6% 1.9% 59.70%
10 Yr 0.7%* 0.4% 1.0% 61.70%

* Annualized

Total Return Ranking - Calendar

Period PTEXX Return Category Return Low Category Return High Rank in Category (%)
2023 2.6% 2.0% 5.4% 82.56%
2022 0.8% 0.2% 1.2% 50.00%
2021 0.0% 0.0% 0.3% 47.44%
2020 0.2% 0.0% 1.3% 78.38%
2019 1.1% 0.0% 2.7% 56.41%

NAV & Total Return History


PTEXX - Holdings

Concentration Analysis

PTEXX Category Low Category High PTEXX % Rank
Net Assets 1.33 B 3.67 M 19.7 B 34.88%
Number of Holdings 181 1 921 30.23%
Net Assets in Top 10 114 M 40.6 M 17.4 B 77.91%
Weighting of Top 10 17.85% 9.8% 100.0% 81.40%

Top 10 Holdings

  1. NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 5% 2.84%
  2. ALASKA HSG FIN CORP HOME MTG REV 0.1% 2.63%
  3. NEW YORK ST MTG AGY HOMEOWNER MTG REV 0.1% 2.59%
  4. ILLINOIS FIN AUTH REV 0.08% 2.54%
  5. MARYLAND ST ECONOMIC DEV CORP REV 0.04% 2.18%
  6. GULF COAST INDL DEV AUTH TEX REV 0.01% 2.15%
  7. CONNECTICUT ST HEALTH & EDL FACS AUTH REV 0.44% 2.10%
  8. MIAMI-DADE CNTY FLA SEAPORT REV 0.05% 1.98%
  9. CHARLOTTE-MECKLENBERG HOSP AUTH N C HEALTH CARE SYS REV 0.1% 1.95%
  10. UNIVERSITY WIS HOSPS & CLINICS AUTH REV 0.08% 1.92%

Asset Allocation

Weighting Return Low Return High PTEXX % Rank
Bonds
77.22% 0.00% 99.21% 75.58%
Cash
22.78% 0.79% 100.00% 24.42%
Stocks
0.00% 0.00% 0.00% 4.65%
Preferred Stocks
0.00% 0.00% 0.00% 4.65%
Other
0.00% 0.00% 0.00% 4.65%
Convertible Bonds
0.00% 0.00% 0.00% 4.65%

Bond Sector Breakdown

Weighting Return Low Return High PTEXX % Rank
Municipal
77.06% 0.00% 99.21% 77.91%
Cash & Equivalents
22.94% 0.79% 100.00% 22.09%
Derivative
0.00% 0.00% 0.00% 4.65%
Securitized
0.00% 0.00% 0.00% 4.65%
Corporate
0.00% 0.00% 0.00% 4.65%
Government
0.00% 0.00% 13.45% 11.63%

Bond Geographic Breakdown

Weighting Return Low Return High PTEXX % Rank
US
77.22% 0.00% 99.21% 75.58%
Non US
0.00% 0.00% 0.00% 4.65%

PTEXX - Expenses

Operational Fees

PTEXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.44% 0.15% 1.77% 52.33%
Management Fee 0.19% 0.08% 0.49% 47.67%
12b-1 Fee N/A 0.00% 0.75% 6.39%
Administrative Fee 0.15% 0.05% 0.55% 79.31%

Sales Fees

PTEXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

PTEXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PTEXX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 0.00% N/A

PTEXX - Distributions

Dividend Yield Analysis

PTEXX Category Low Category High PTEXX % Rank
Dividend Yield 2.89% 2.15% 5.12% 62.79%

Dividend Distribution Analysis

PTEXX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

PTEXX Category Low Category High PTEXX % Rank
Net Income Ratio 0.01% 0.00% 0.12% 20.93%

Capital Gain Distribution Analysis

PTEXX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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PTEXX - Fund Manager Analysis

Managers

Douglas Spratley


Start Date

Tenure

Tenure Rank

Mar 01, 2020

2.25

2.3%

Douglas D. Spratley joined T. Rowe Price in 2008 and became cochairman in 2020. His investment experience dates from 1996. Previously, he was an investment analyst for the Prudential Capital Group. Spratley joined Prudential in 1992. Spratley holds the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.83 27.88 14.3 15.26