PATAX: T. Rowe Price Tax Free Income Fund - MutualFunds.com
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T. Rowe Price Tax-Free Income Adv

PATAX - Snapshot

Vitals

  • YTD Return 1.0%
  • 3 Yr Annualized Return 4.6%
  • 5 Yr Annualized Return 3.1%
  • Net Assets $2.82 B
  • Holdings in Top 10 7.1%

52 WEEK LOW AND HIGH

$10.55
$10.12
$10.58

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.85%

SALES FEES

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

BROKERAGE FEES

  • Turnover 14.90%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA N/A

Fund Classification

  • Primary Theme
    Municipal Bond
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Compare PATAX to Popular Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Vanguard Intermediate-Term Tax-Exempt Fund

Fund

$14.85

0.00%

$85.72 B

-

$0.00

-0.07%

0.17%

Vanguard Limited Term Tax Exempt Fund

Fund

$11.24

0.00%

$36.46 B

-

$0.00

-0.18%

0.17%

American Funds Tax Exempt Bond Fund®

Fund

$13.72

-0.07%

$26.46 B

-

$0.00

0.73%

0.52%

iShares National Muni Bond ETF

MUB | ETF

$117.33

-0.01%

$22.01 B

-

-

0.11%

0.07%

Vanguard Short Term Tax Exempt Fund

Fund

$15.93

0.00%

$21.98 B

-

$0.00

-0.13%

0.17%

PATAX - Profile

Distributions

  • YTD Total Return 1.0%
  • 3 Yr Annualized Total Return 4.6%
  • 5 Yr Annualized Total Return 3.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.50%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    T. Rowe Price Tax Free Income Fund
  • Fund Family Name
    T. Rowe Price
  • Inception Date
    Sep 30, 2002
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Konstantine 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 rating categories by at least one major credit rating agency or, if unrated, deemed to be of comparable quality by T. Rowe Price.

PATAX - Performance

Return Ranking - Trailing

Period PATAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -2.2% 7.4% 26.10%
1 Yr 7.9% -1.3% 22.3% 19.66%
3 Yr 4.6%* 0.3% 10.0% 39.30%
5 Yr 3.1%* -0.6% 7.8% 41.03%
10 Yr 4.1%* -0.2% 9.6% 35.57%

* Annualized

Return Ranking - Calendar

Period PATAX Return Category Return Low Category Return High Rank in Category (%)
2020 1.8% -2.8% 310.0% 45.41%
2019 3.7% -0.3% 15.4% 50.03%
2018 -2.8% -10.3% 97.2% 76.42%
2017 1.4% -100.0% 7.6% 54.74%
2016 -3.4% -7.9% 96.8% 76.96%

Total Return Ranking - Trailing

Period PATAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -2.2% 7.3% 26.04%
1 Yr 7.9% -5.4% 22.3% 15.86%
3 Yr 4.6%* -1.7% 10.0% 32.42%
5 Yr 3.1%* -1.8% 7.8% 34.54%
10 Yr 4.1%* -0.4% 9.6% 32.38%

* Annualized

Total Return Ranking - Calendar

Period PATAX Return Category Return Low Category Return High Rank in Category (%)
2020 1.8% -2.8% 310.0% 45.41%
2019 3.7% -0.3% 15.4% 51.48%
2018 -2.8% -10.3% 11.0% 78.41%
2017 1.4% -100.0% 7.6% 58.25%
2016 -3.4% -7.9% 3.0% 80.32%

NAV & Total Return History

PATAX - Holdings

Concentration Analysis

PATAX Category Low Category High PATAX % Rank
Net Assets 2.82 B 907 K 85.7 B 14.24%
Number of Holdings 620 3 11766 19.46%
Net Assets in Top 10 196 M -241 M 4.15 B 23.39%
Weighting of Top 10 7.09% 2.3% 100.0% 91.48%

Top 10 Holdings

  1. NEW YORK LIBERTY DEV CORP LIBERTY REV 5.75% 0.89%
  2. MARYLAND ST STAD AUTH REV 5% 0.84%
  3. BROOKHAVEN GA DEV AUTH REV 4% 0.78%
  4. MIAMI-DADE CNTY FLA EDL FACS AUTH REV 5% 0.77%
  5. IDAHO HEALTH FACS AUTH REV 5% 0.76%
  6. REGIONAL TRANSN AUTH ILL 6% 0.76%
  7. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 0.72%
  8. WASHINGTON D C MET AREA TRAN AUTH GROSS REV 5% 0.67%
  9. TARRANT CNTY TEX CULTURAL ED FACS FIN CORP HOSP REV 4% 0.67%
  10. METROPOLITAN TRANSN AUTH N Y REV 5.25% 0.66%

Asset Allocation

Weighting Return Low Return High PATAX % Rank
Bonds 		99.61% 65.18% 145.79% 31.23%
Cash 		0.39% -45.79% 34.82% 66.70%
Stocks 		0.00% -0.06% 2.34% 31.91%
Preferred Stocks 		0.00% -0.94% 1.06% 30.17%
Other 		0.00% -13.58% 30.00% 32.27%
Convertible Bonds 		0.00% 0.00% 1.24% 30.22%

Bond Sector Breakdown

Weighting Return Low Return High PATAX % Rank
Municipal 		99.61% 42.61% 100.00% 28.46%
Cash & Equivalents 		0.39% 0.00% 34.82% 69.89%
Derivative 		0.00% 0.00% 0.85% 29.94%
Securitized 		0.00% 0.00% 7.07% 32.27%
Corporate 		0.00% 0.00% 15.60% 41.32%
Government 		0.00% 0.00% 50.29% 35.74%

Bond Geographic Breakdown

Weighting Return Low Return High PATAX % Rank
US 		97.88% 65.18% 141.11% 32.44%
Non US 		1.73% 0.00% 23.68% 42.17%

PATAX - Expenses

Operational Fees

PATAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.85% 0.01% 16.95% 40.99%
Management Fee 0.44% 0.00% 1.12% 48.02%
12b-1 Fee 0.25% 0.00% 1.00% 41.64%
Administrative Fee N/A 0.01% 0.47% 73.64%

Sales Fees

PATAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

PATAX 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.

PATAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.90% 0.00% 299.40% 27.14%

PATAX - Distributions

Dividend Yield Analysis

PATAX Category Low Category High PATAX % Rank
Dividend Yield 0.00% 0.00% 1.77% 34.52%

Dividend Distribution Analysis

PATAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

PATAX Category Low Category High PATAX % Rank
Net Income Ratio 2.50% -1.65% 5.71% 36.37%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

PATAX - Fund Manager Analysis

Managers

Konstantine Mallas

Start Date

Tenure

Tenure Rank

Jul 01, 2007

13.93

13.9%

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
0.01 36.19 7.08 0.58

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