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Trending ETFs

Name

As of 04/11/2024

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

$9.32

$2.29 B

0.00%

0.59%

Vitals

YTD Return

-1.0%

1 yr return

2.1%

3 Yr Avg Return

-0.8%

5 Yr Avg Return

1.3%

Net Assets

$2.29 B

Holdings in Top 10

8.3%

52 WEEK LOW AND HIGH

$9.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.59%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 10.60%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/11/2024

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

$9.32

$2.29 B

0.00%

0.59%

PRTAX - Profile

Distributions

  • YTD Total Return -1.0%
  • 3 Yr Annualized Total Return -0.8%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.41%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    T. Rowe Price Tax-Free Income Fund, Inc.
  • Fund Family Name
    T. Rowe Price
  • Inception Date
    Oct 26, 1976
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Konstantine Mallas

Fund Description

Although the fund may purchase securities of any maturity, the fund generally seeks longer-term municipal securities. Most investments are in investment-grade securities, which are securities rated in one of the four highest credit rating categories by at least one major credit rating agency or, if unrated, deemed by T. Rowe Price to be of comparable quality. The fund may invest up to 10% of its total assets in below investment-grade securities, known as “junk” bonds, including those with the lowest credit ratings.

T. Rowe Price’s active investment management approach emphasizes the value of in-depth fundamental credit research, diversification, and risk management practices. By using fundamental research, T. Rowe Price seeks to select investments for the fund’s portfolio based on its outlook for the different sectors of the tax-free municipal market (for example, T. Rowe Price may emphasize revenue bonds instead of state and local general obligation debt) and specific issuers or securities. The goal of this approach is to seek higher yields while taking a risk-conscious approach. Risk management practices include managing the fund’s duration (which is a measurement of the price sensitivity of a bond or bond fund to changes in interest rates), while also focusing on striking a balance between (i) investing more heavily in certain sectors or issuers and (ii) diversifying the fund’s investments across the broader municipal market.

Normally, at least 80% of the fund’s income will be exempt from federal income taxes. The fund does not normally invest in assets subject to the alternative minimum tax; however, up to 20% of the fund’s income could be derived from securities subject to the alternative minimum tax.

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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PRTAX - Performance

Return Ranking - Trailing

Period PRTAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -4.3% 14.6% 83.40%
1 Yr 2.1% -7.4% 35.1% 26.89%
3 Yr -0.8%* -11.1% 2.6% 36.00%
5 Yr 1.3%* -6.0% 1102.3% 21.47%
10 Yr 2.3%* -0.4% 248.2% 21.22%

* Annualized

Return Ranking - Calendar

Period PRTAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.7% -1.4% 41.0% 16.19%
2022 -12.7% -39.7% 0.3% 66.49%
2021 0.4% -5.6% 6.9% 18.06%
2020 1.9% -2.6% 310.0% 42.93%
2019 3.7% 0.0% 26.0% 49.65%

Total Return Ranking - Trailing

Period PRTAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -4.3% 14.6% 83.40%
1 Yr 2.1% -7.4% 35.1% 26.89%
3 Yr -0.8%* -11.1% 2.6% 36.00%
5 Yr 1.3%* -6.0% 1102.3% 21.47%
10 Yr 2.3%* -0.4% 248.2% 21.22%

* Annualized

Total Return Ranking - Calendar

Period PRTAX Return Category Return Low Category Return High Rank in Category (%)
2023 7.0% -1.3% 41.0% 17.62%
2022 -10.1% -39.7% 1.1% 60.51%
2021 2.8% -4.8% 23761504.0% 18.12%
2020 4.1% -1.5% 17057.9% 39.42%
2019 7.3% 0.2% 3514.6% 28.22%

NAV & Total Return History


PRTAX - Holdings

Concentration Analysis

PRTAX Category Low Category High PRTAX % Rank
Net Assets 2.29 B 3.22 M 71.9 B 14.70%
Number of Holdings 589 2 13067 20.68%
Net Assets in Top 10 184 M -317 M 3.4 B 23.32%
Weighting of Top 10 8.30% 1.9% 100.4% 88.39%

Top 10 Holdings

  1. CHICAGO O'HARE INTERNATIONAL AIRPORT 1.02%
  2. NEW YORK STATE THRUWAY AUTHORITY 1.00%
  3. SALT RIVER PROJECT AGRICULTURAL IMPROVEMENT POWER DISTRICT 0.85%
  4. MIAMI-DADE COUNTY EDUCATIONAL FACILITIES AUTHORITY 0.85%
  5. REGIONAL TRANSPORTATION AUTHORITY 0.81%
  6. DENVER CONVENTION CENTER HOTEL AUTHORITY 0.79%
  7. BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY 0.79%
  8. COLUMBIA COUNTY HOSPITAL AUTHORITY/GA 0.73%
  9. COUNTY OF HAMILTON OH 0.73%
  10. METROPOLITAN TRANSPORTATION AUTHORITY 0.72%

Asset Allocation

Weighting Return Low Return High PRTAX % Rank
Bonds
98.94% 0.00% 150.86% 39.54%
Cash
1.06% -50.86% 50.09% 57.99%
Stocks
0.00% 0.00% 99.81% 48.87%
Preferred Stocks
0.00% 0.00% 0.52% 37.44%
Other
0.00% -8.54% 33.35% 40.46%
Convertible Bonds
0.00% 0.00% 0.93% 37.39%

Bond Sector Breakdown

Weighting Return Low Return High PRTAX % Rank
Municipal
98.17% 44.39% 100.00% 52.85%
Derivative
0.00% -8.54% 23.38% 38.66%
Cash & Equivalents
0.00% 0.00% 48.02% 73.13%
Securitized
0.00% 0.00% 5.93% 38.29%
Corporate
0.00% 0.00% 9.41% 50.45%
Government
0.00% 0.00% 52.02% 41.72%

Bond Geographic Breakdown

Weighting Return Low Return High PRTAX % Rank
US
98.94% 0.00% 142.23% 37.31%
Non US
0.00% 0.00% 23.89% 46.65%

PRTAX - Expenses

Operational Fees

PRTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.59% 0.01% 20.65% 68.45%
Management Fee 0.44% 0.00% 1.20% 52.87%
12b-1 Fee N/A 0.00% 1.00% 5.47%
Administrative Fee N/A 0.01% 0.44% 73.57%

Sales Fees

PRTAX 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

PRTAX 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.

PRTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 10.60% 0.00% 283.00% 24.74%

PRTAX - Distributions

Dividend Yield Analysis

PRTAX Category Low Category High PRTAX % Rank
Dividend Yield 0.00% 0.00% 14.51% 28.01%

Dividend Distribution Analysis

PRTAX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Monthly

Net Income Ratio Analysis

PRTAX Category Low Category High PRTAX % Rank
Net Income Ratio 2.41% -0.53% 5.33% 22.77%

Capital Gain Distribution Analysis

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

Distributions History

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PRTAX - Fund Manager Analysis

Managers

Konstantine Mallas


Start Date

Tenure

Tenure Rank

Jul 01, 2007

14.93

14.9%

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