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PRTAX T. Rowe Price Tax-Free Income Inv

  • Fund
  • PRTAX
  • Price as of: Aug 08, 2016
  • $10.56
  • - $0.00
  • - 0.00%
  • Category
  • National Munis

PRTAX - Profile

Vitals

  • YTD Return 1.8%
  • 3 Yr Annualized Return 6.4%
  • 5 Yr Annualized Return 5.5%
  • Net Assets $2.7 B
  • Holdings in Top 10 8.4%

52 WEEK LOW AND HIGH

$10.56
$10.27
$10.65

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.52%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 8.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 6.4%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.77%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name T. Rowe Price Tax Free Income Fund
  • Fund Family Name T. Rowe Price
  • Inception Date Oct 26, 1976
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Konstantine B. Mallas

Fund Description

Normally, at least 80% of the fund's income will be exempt from federal income taxes. 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 categories by at least one major credit rating agency or, if unrated, deemed to be of comparable quality by T. Rowe Price.

PRTAX - Performance

Return Ranking - Trailing

Period PRTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.8% -2.5% 99.4% 33.98% 3
1 Yr 6.6% -5.8% 13.3% 27.05% 2
3 Yr 6.4% * -4.5% 9.4% 17.68% 1
5 Yr 5.5% * -0.5% 8.0% 19.56% 1
10 Yr 4.9% * -0.3% 5.9% 13.71% 1

* Annualized


Return Ranking - Calendar

Period PRTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.7% -10.9% 99.6% 47.45% 4
2014 N/A 4.5% 4.5% N/A N/A
2013 N/A -6.5% -6.5% N/A N/A
2012 N/A 1.5% 1.5% N/A N/A
2011 N/A 3.3% 3.3% N/A N/A

Total Return Ranking - Trailing

Period PRTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.8% -2.5% 99.4% 33.77% 3
1 Yr 6.6% -8.9% 13.3% 17.23% 1
3 Yr 6.4% * -5.4% 9.4% 13.00% 1
5 Yr 5.5% * -0.5% 8.0% 16.24% 1
10 Yr 4.9% * -0.3% 5.9% 11.18% 1

* Annualized


Total Return Ranking - Calendar

Period PRTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.7% -10.9% 99.6% 47.45% 4
2014 N/A 4.5% 4.5% N/A N/A
2013 N/A -6.5% -6.5% N/A N/A
2012 N/A 1.5% 1.5% N/A N/A
2011 N/A 3.3% 3.3% N/A N/A

NAV & Total Return History

PRTAX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

PRTAX Category Low Category High PRTAX % Rank Quintile
Net Assets 2.7 B 491 K 52.2 B 7.57% 2
Number of Holdings 447 1 5633 12.26% 2
Net Assets in Top 10 224 M -90.5 M 1.34 B 8.87% 2
Weighting of Top 10 8.4% 0.0% 100.0% 28.23% 5

Top 10 Holdings

  1. New York Liberty Dev Corp Libe Lib 5.75% 1.21%
  2. South Broward Hosp Dist 4% 0.91%
  3. Colorado Health Facs Auth 5.25% 0.86%
  4. Metropolitan Pier & Exposition Bds 5.5% 0.81%
  5. Orange Cnty Fla Health Facs Au Rev Bd 5% 0.81%
  6. Metropolitan Wash D C Arpts Au Re 5.625% 0.79%
  7. Regl Transn Auth 6% 0.79%
  8. Metropolitan Transn Auth 5.25% 0.76%
  9. Miami-Dade Cnty Fla Tran Sys S Sales 5% 0.72%
  10. California St For Previous Iss Go Ref 5% 0.70%

Asset Allocation

Weighting Category Low Category High PRTAX % Rank Quintile
Bonds
99.24% 0.00% 202.21% 4.19% 1
Cash
0.76% -110.85% 100.00% 27.74% 5
Other
0.00% -2.77% 30.50% 6.45% 3
Convertible Bonds
0.00% 0.00% 4.07% 0.65% 2
Preferred Stocks
0.00% 0.00% 11.63% 1.13% 2
Stocks
0.00% 0.00% 1.71% 1.13% 2

Bond Sector Breakdown

Weighting Category Low Category High PRTAX % Rank Quintile
Municipal
98.90% 0.00% 146.16% 5.00% 1
Cash & Equivalents
0.76% -110.85% 100.00% 27.90% 5
Government
0.34% -17.17% 117.34% 4.84% 1
Securitized
0.00% 0.00% 30.99% 2.26% 2
Corporate
0.00% 0.00% 33.65% 3.71% 2
Derivative
0.00% -0.52% 5.07% 0.48% 2

Bond Geographic Breakdown

Weighting Category Low Category High PRTAX % Rank Quintile
US
99.24% 0.00% 202.21% 4.19% 1
Non US
0.00% 0.00% 24.05% 0.97% 2

PRTAX - Expenses

Operational Fees

PRTAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.52% 0.09% 4.60% 21.26% 1
Management Fee 0.44% 0.00% 1.00% 2.42% 3
12b-1 Fee 0.00% 0.00% 1.00% 7.13% 1
Administrative Fee 0.15% 0.00% 0.35% 3.41% 3

Sales Fees

PRTAX Fees (% of AUM) Category Low Category High PRTAX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

PRTAX Fees (% of AUM) Category Low Category High PRTAX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover 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 Low Category High PRTAX Rank Quintile
Turnover 8.00% 0.00% 783.51% 16.43% 1

PRTAX - Distributions

Dividend Yield Analysis

PRTAX Category Low Category High PRTAX % Rank Quintile
Dividend Yield 0.4% 0.00% 2.86% 13.36% 1

Dividend Distribution Analysis

PRTAX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PRTAX Category Low Category High PRTAX % Rank Quintile
Net Income Ratio 3.77% -0.70% 5.26% 6.60% 1

Capital Gain Distribution Analysis

PRTAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

PRTAX - Managers

Konstantine B. Mallas

Manager

Start Date

Jul 01, 2007

Tenure

9.09

Tenure Rank

8.0%

Konstantine B. (Dino) Mallas has been chairman of the committee since 2003 and he is a vice president of T. Rowe Price Associates, Inc., and a portfolio manager in the Fixed Income Division. Mr. Mallas also heads the Investment Advisory Committees for four tax-free bond strategies.He joined the firm in 1987 as a broker in the Discount Brokerage Department and in 1991 transferred to the Municipal Department. He began his fixed-income responsibilities as a fixed-income specialist and later transitioned into trading intermediate- and long-term state and national portfolios. Mr. Mallas assumed portfolio management responsibilities in 1999. Mr. Mallas earned a B.S. from American University and an M.B.A. from Loyola College in Baltimore, Maryland.


Tenure Analysis

Category Low

0.1

Category High

36.9

Category Average

7.39

Category Mode

1.6