T. Rowe Price Tax-Free Income Fund, Inc.
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.8%
1 yr return
8.4%
3 Yr Avg Return
-0.4%
5 Yr Avg Return
1.2%
Net Assets
$2.29 B
Holdings in Top 10
8.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.48%
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 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PRTAX - Profile
Distributions
- YTD Total Return 1.8%
- 3 Yr Annualized Total Return -0.4%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.41%
- Dividend Yield 3.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameT. Rowe Price Tax-Free Income Fund, Inc.
-
Fund Family NameT. Rowe Price
-
Inception DateOct 26, 1976
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKonstantine 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 the adviser 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.
PRTAX - Performance
Return Ranking - Trailing
Period | PRTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.8% | -4.7% | 25.9% | 19.91% |
1 Yr | 8.4% | 0.7% | 37.2% | 14.71% |
3 Yr | -0.4%* | -10.8% | 3.2% | 28.73% |
5 Yr | 1.2%* | -7.0% | 1103.1% | 17.64% |
10 Yr | 2.2%* | -0.9% | 248.6% | 16.82% |
* Annualized
Return Ranking - Calendar
Period | PRTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.7% | -1.4% | 41.0% | 16.69% |
2022 | -12.7% | -39.7% | 0.3% | 65.47% |
2021 | 0.4% | -5.6% | 6.9% | 18.47% |
2020 | 1.9% | -2.6% | 310.0% | 42.99% |
2019 | 3.7% | 0.0% | 26.0% | 50.61% |
Total Return Ranking - Trailing
Period | PRTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.8% | -4.7% | 25.9% | 19.91% |
1 Yr | 8.4% | 0.7% | 37.2% | 14.71% |
3 Yr | -0.4%* | -10.8% | 3.2% | 28.73% |
5 Yr | 1.2%* | -7.0% | 1103.1% | 17.64% |
10 Yr | 2.2%* | -0.9% | 248.6% | 16.82% |
* Annualized
Total Return Ranking - Calendar
Period | PRTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.0% | -1.3% | 41.0% | 18.22% |
2022 | -10.1% | -39.7% | 1.1% | 59.51% |
2021 | 2.8% | -4.8% | 23761504.0% | 18.81% |
2020 | 4.1% | -1.5% | 17057.9% | 39.58% |
2019 | 7.3% | 0.2% | 3514.6% | 28.84% |
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 | 15.19% |
Number of Holdings | 569 | 4 | 13418 | 22.30% |
Net Assets in Top 10 | 190 M | -317 M | 3.09 B | 22.24% |
Weighting of Top 10 | 8.19% | 1.8% | 100.3% | 86.74% |
Top 10 Holdings
- CHICAGO O'HARE INTERNATIONAL AIRPORT 0.98%
- NEW YORK STATE THRUWAY AUTHORITY 0.95%
- CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY 0.90%
- NORTH CAROLINA TURNPIKE AUTHORITY 0.82%
- SALT RIVER PROJECT AGRICULTURAL IMPROVEMENT POWER DISTRICT 0.81%
- DENVER CONVENTION CENTER HOTEL AUTHORITY 0.76%
- REGIONAL TRANSPORTATION AUTHORITY 0.76%
- COUNTY OF HAMILTON OH 0.75%
- WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY DEDICATED REVENUE 0.73%
- COLUMBIA COUNTY HOSPITAL AUTHORITY/GA 0.71%
Asset Allocation
Weighting | Return Low | Return High | PRTAX % Rank | |
---|---|---|---|---|
Bonds | 99.63% | 0.00% | 150.86% | 32.40% |
Cash | 0.37% | -50.86% | 44.62% | 71.84% |
Stocks | 0.00% | 0.00% | 99.78% | 36.13% |
Preferred Stocks | 0.00% | 0.00% | 0.07% | 25.23% |
Other | 0.00% | -3.69% | 51.88% | 36.22% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 24.73% |
Bond Sector Breakdown
Weighting | Return Low | Return High | PRTAX % Rank | |
---|---|---|---|---|
Municipal | 98.17% | 44.39% | 100.00% | 52.87% |
Derivative | 0.00% | -3.69% | 51.88% | 33.22% |
Cash & Equivalents | 0.00% | 0.00% | 44.41% | 68.38% |
Securitized | 0.00% | 0.00% | 5.93% | 26.40% |
Corporate | 0.00% | 0.00% | 9.41% | 39.77% |
Government | 0.00% | 0.00% | 52.02% | 30.35% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | PRTAX % Rank | |
---|---|---|---|---|
US | 99.63% | 0.00% | 142.23% | 30.56% |
Non US | 0.00% | 0.00% | 23.89% | 29.36% |
PRTAX - Expenses
Operational Fees
PRTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.48% | 0.01% | 8.02% | 84.34% |
Management Fee | 0.32% | 0.00% | 1.20% | 19.69% |
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% | 24.46% |
PRTAX - Distributions
Dividend Yield Analysis
PRTAX | Category Low | Category High | PRTAX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.10% | 0.00% | 14.51% | 27.81% |
Dividend Distribution Analysis
PRTAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
PRTAX | Category Low | Category High | PRTAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.41% | -0.53% | 5.33% | 23.32% |
Capital Gain Distribution Analysis
PRTAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 30, 2024 | $0.027 | OrdinaryDividend |
Sep 27, 2024 | $0.024 | OrdinaryDividend |
Aug 29, 2024 | $0.029 | OrdinaryDividend |
Jul 30, 2024 | $0.027 | OrdinaryDividend |
Apr 29, 2024 | $0.026 | OrdinaryDividend |
Mar 27, 2024 | $0.026 | OrdinaryDividend |
Feb 28, 2024 | $0.024 | OrdinaryDividend |
Jan 30, 2024 | $0.025 | OrdinaryDividend |
Dec 28, 2023 | $0.026 | OrdinaryDividend |
Nov 29, 2023 | $0.024 | OrdinaryDividend |
Oct 30, 2023 | $0.024 | OrdinaryDividend |
Sep 28, 2023 | $0.025 | OrdinaryDividend |
Aug 30, 2023 | $0.025 | OrdinaryDividend |
Jul 28, 2023 | $0.023 | OrdinaryDividend |
Jun 29, 2023 | $0.025 | OrdinaryDividend |
May 30, 2023 | $0.025 | OrdinaryDividend |
Apr 27, 2023 | $0.022 | OrdinaryDividend |
Mar 30, 2023 | $0.026 | OrdinaryDividend |
Feb 27, 2023 | $0.021 | OrdinaryDividend |
Jan 30, 2023 | $0.022 | OrdinaryDividend |
Dec 29, 2022 | $0.025 | OrdinaryDividend |
Nov 29, 2022 | $0.022 | OrdinaryDividend |
Oct 28, 2022 | $0.022 | OrdinaryDividend |
Sep 29, 2022 | $0.024 | OrdinaryDividend |
Aug 30, 2022 | $0.023 | OrdinaryDividend |
Jul 28, 2022 | $0.025 | OrdinaryDividend |
Jun 29, 2022 | $0.027 | OrdinaryDividend |
May 27, 2022 | $0.026 | OrdinaryDividend |
Apr 28, 2022 | $0.023 | OrdinaryDividend |
Mar 30, 2022 | $0.022 | OrdinaryDividend |
Feb 25, 2022 | $0.019 | OrdinaryDividend |
Jan 28, 2022 | $0.019 | OrdinaryDividend |
Dec 30, 2021 | $0.022 | OrdinaryDividend |
Nov 29, 2021 | $0.020 | OrdinaryDividend |
Oct 28, 2021 | $0.021 | OrdinaryDividend |
Sep 29, 2021 | $0.020 | OrdinaryDividend |
Aug 30, 2021 | $0.021 | OrdinaryDividend |
Jul 29, 2021 | $0.022 | OrdinaryDividend |
Jun 29, 2021 | $0.021 | OrdinaryDividend |
May 27, 2021 | $0.021 | OrdinaryDividend |
Apr 29, 2021 | $0.023 | OrdinaryDividend |
Mar 30, 2021 | $0.022 | OrdinaryDividend |
Feb 25, 2021 | $0.020 | OrdinaryDividend |
Jan 28, 2021 | $0.021 | OrdinaryDividend |
Dec 30, 2020 | $0.025 | OrdinaryDividend |
Nov 27, 2020 | $0.022 | OrdinaryDividend |
Oct 29, 2020 | $0.025 | OrdinaryDividend |
Sep 29, 2020 | $0.024 | OrdinaryDividend |
Aug 28, 2020 | $0.023 | OrdinaryDividend |
Jun 29, 2020 | $0.025 | OrdinaryDividend |
Apr 29, 2020 | $0.025 | OrdinaryDividend |
Feb 27, 2020 | $0.024 | OrdinaryDividend |
Jan 30, 2020 | $0.027 | OrdinaryDividend |
Dec 30, 2019 | $0.027 | OrdinaryDividend |
Nov 27, 2019 | $0.027 | OrdinaryDividend |
Oct 30, 2019 | $0.027 | OrdinaryDividend |
Sep 27, 2019 | $0.025 | OrdinaryDividend |
Aug 29, 2019 | $0.030 | OrdinaryDividend |
Jul 30, 2019 | $0.028 | OrdinaryDividend |
Dec 07, 2018 | $0.001 | CapitalGainShortTerm |
Dec 07, 2017 | $0.001 | CapitalGainShortTerm |
Dec 07, 2016 | $0.002 | CapitalGainShortTerm |
Dec 05, 2014 | $0.001 | CapitalGainShortTerm |
Mar 29, 1999 | $0.010 | CapitalGainLongTerm |
Dec 16, 1998 | $0.020 | CapitalGainShortTerm |
Dec 16, 1998 | $0.010 | CapitalGainLongTerm |
Mar 27, 1998 | $0.010 | CapitalGainLongTerm |
Mar 29, 1994 | $0.010 | OrdinaryDividend |
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 | 7.35 | 1.58 |