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Trending ETFs

Name

As of 06/14/2024

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

$11.31

$2.45 B

3.51%

$0.40

0.53%

Vitals

YTD Return

1.5%

1 yr return

5.5%

3 Yr Avg Return

-0.9%

5 Yr Avg Return

1.1%

Net Assets

$2.45 B

Holdings in Top 10

6.5%

52 WEEK LOW AND HIGH

$11.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.53%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 23.80%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$25,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

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

$11.31

$2.45 B

3.51%

$0.40

0.53%

PRINX - Profile

Distributions

  • YTD Total Return 1.5%
  • 3 Yr Annualized Total Return -0.9%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.23%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    T. Rowe Price Summit Municipal Income Fund
  • Fund Family Name
    T. Rowe Price
  • Inception Date
    Oct 29, 1993
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Konstantine Mallas

Fund Description

The fund will normally invest at least 80% of its total assets in investment-grade municipal securities, which are securities rated in one of the four highest rating categories by at least one major credit rating agency or, if unrated, deemed by the adviser to be of comparable quality. The fund may invest up to 20% of its total assets in noninvestment-grade bonds, known as “junk” bonds, including those with the lowest credit ratings. While the fund may buy securities of any maturity, most of its investments are expected to be in long-term municipal securities (securities with maturities of more than 10 years).

Normally, at least 80% of the fund’s income will be exempt from federal income taxes. However, a significant portion of the fund’s income could be derived from securities subject to the alternative minimum tax.

Investment decisions generally reflect the portfolio manager’s outlook for interest rates and the economy, as well as the prices, yields, and credit quality of various securities in which the fund may invest. For example, if interest rates are expected to fall, the fund may purchase longer-term securities (to the extent consistent with the fund’s investment program) in an attempt to seek higher yields and/or capital appreciation. Conversely, if interest rates are expected to rise, the fund may seek securities with shorter maturities.

From time to time, the fund may invest a significant portion of its assets in sectors with special risks, such as health care, transportation, utilities, or private activity bonds.

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PRINX - Performance

Return Ranking - Trailing

Period PRINX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -2.9% 17.0% 16.70%
1 Yr 5.5% -1.4% 29.0% 10.73%
3 Yr -0.9%* -11.1% 2.9% 40.34%
5 Yr 1.1%* -6.3% 1102.2% 30.43%
10 Yr 2.5%* -0.5% 248.4% 16.35%

* Annualized

Return Ranking - Calendar

Period PRINX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -1.4% 41.0% 10.55%
2022 -13.3% -39.7% 0.3% 76.29%
2021 1.0% -5.6% 6.9% 8.78%
2020 1.8% -2.6% 310.0% 45.07%
2019 4.7% 0.0% 26.0% 18.78%

Total Return Ranking - Trailing

Period PRINX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -2.9% 17.0% 16.70%
1 Yr 5.5% -1.4% 29.0% 10.73%
3 Yr -0.9%* -11.1% 2.9% 40.34%
5 Yr 1.1%* -6.3% 1102.2% 30.43%
10 Yr 2.5%* -0.5% 248.4% 16.35%

* Annualized

Total Return Ranking - Calendar

Period PRINX Return Category Return Low Category Return High Rank in Category (%)
2023 7.3% -1.3% 41.0% 13.68%
2022 -11.1% -39.7% 1.1% 75.43%
2021 3.2% -4.8% 23761504.0% 14.49%
2020 2.9% -1.5% 17057.9% 75.46%
2019 7.8% 0.2% 3514.6% 16.69%

NAV & Total Return History


PRINX - Holdings

Concentration Analysis

PRINX Category Low Category High PRINX % Rank
Net Assets 2.45 B 3.22 M 71.9 B 14.30%
Number of Holdings 818 2 13067 12.80%
Net Assets in Top 10 153 M -317 M 3.56 B 30.41%
Weighting of Top 10 6.45% 2.0% 100.2% 94.60%

Top 10 Holdings

  1. NORTH CAROLINA TURNPIKE AUTHORITY 1.00%
  2. BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY 0.82%
  3. SALT RIVER PROJECT AGRICULTURAL IMPROVEMENT POWER DISTRICT 0.71%
  4. OKLAHOMA TURNPIKE AUTHORITY 0.69%
  5. NEW YORK STATE THRUWAY AUTHORITY 0.60%
  6. STATE OF COLORADO 0.58%
  7. NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY 0.57%
  8. PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 0.52%
  9. UNIVERSITY OF CALIFORNIA 0.48%
  10. STATE OF COLORADO 0.48%

Asset Allocation

Weighting Return Low Return High PRINX % Rank
Bonds
99.91% 0.00% 150.86% 16.95%
Cash
0.10% -50.86% 46.80% 84.15%
Stocks
0.00% 0.00% 99.81% 70.19%
Preferred Stocks
0.00% 0.00% 0.56% 64.72%
Other
0.00% -3.18% 33.35% 64.59%
Convertible Bonds
0.00% 0.00% 0.93% 64.71%

Bond Sector Breakdown

Weighting Return Low Return High PRINX % Rank
Municipal
98.79% 44.39% 100.00% 42.79%
Derivative
0.00% -3.18% 19.67% 63.09%
Cash & Equivalents
0.00% 0.00% 46.24% 84.15%
Securitized
0.00% 0.00% 5.93% 65.17%
Corporate
0.00% 0.00% 9.41% 69.34%
Government
0.00% 0.00% 52.02% 66.28%

Bond Geographic Breakdown

Weighting Return Low Return High PRINX % Rank
US
99.91% 0.00% 142.23% 15.79%
Non US
0.00% 0.00% 23.89% 67.06%

PRINX - Expenses

Operational Fees

PRINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.53% 0.01% 20.65% 79.32%
Management Fee 0.37% 0.00% 1.20% 32.21%
12b-1 Fee N/A 0.00% 1.00% 58.92%
Administrative Fee 0.15% 0.01% 0.44% 69.72%

Sales Fees

PRINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

PRINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

PRINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 23.80% 0.00% 283.00% 69.54%

PRINX - Distributions

Dividend Yield Analysis

PRINX Category Low Category High PRINX % Rank
Dividend Yield 3.51% 0.00% 14.51% 30.84%

Dividend Distribution Analysis

PRINX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

PRINX Category Low Category High PRINX % Rank
Net Income Ratio 2.23% -0.53% 5.33% 33.46%

Capital Gain Distribution Analysis

PRINX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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PRINX - Fund Manager Analysis

Managers

Konstantine Mallas


Start Date

Tenure

Tenure Rank

Feb 28, 1999

23.27

23.3%

Dino Mallas is a portfolio manager in the Fixed Income Division. Mr. Mallas is president and chairman of its Investment Advisory Committee. He is also executive vice president and chairman of the Investment Advisory Committee. Mr. Mallas is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. He joined the firm in 1986 as a broker in the Discount Brokerage Department and, in 1991, transferred to the Municipal Department. Mr. Mallas began his fixed income responsibilities as a fixed income specialist and later transitioned into trading intermediate- and long-term state and national portfolios. He assumed portfolio management responsibilities in 1999. Mr. Mallas earned a B.S. from American University and an M.B.A. from Loyola University Maryland.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58