PATFX: T. Rowe Price Tax-Free High Yield Adv

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PATFX T. Rowe Price Tax-Free High Yield Adv


Profile

PATFX - Profile

Vitals

  • YTD Return -7.9%
  • 3 Yr Annualized Return -1.8%
  • 5 Yr Annualized Return -0.8%
  • Net Assets $4.48 B
  • Holdings in Top 10 9.1%

52 WEEK LOW AND HIGH

$11.43
$10.87
$12.74

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.03%

SALES FEES

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

BROKERAGE FEES

  • Turnover 5.10%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

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

Fund Classification


Distributions

  • YTD Total Return -7.9%
  • 3 Yr Annualized Total Return -1.8%
  • 5 Yr Annualized Total Return -0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.25%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    T. Rowe Price Tax Free High Yield Fund
  • Fund Family Name
    T. Rowe Price
  • Inception Date
    Aug 08, 2012
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    James Murphy

Fund Description

Normally, at least 80% of the fund's income will be exempt from federal income taxes. However, up to 20% of the fund's income could be derived from securities subject to the alternative minimum tax. It generally seeks higher yielding municipal bonds, including those that are rated noninvestment grade (BB and lower, or an equivalent rating) by a major credit rating agency or by T. Rowe Price, known as "junk" bonds.


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Categories

Fund Company Quick Screens

PATFX - Fund Company Quick Screens


Performance

PATFX - Performance

Return Ranking - Trailing

Period PATFX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.9% -14.0% 0.5% 73.06%
1 Yr -6.7% -13.9% 5.3% 70.00%
3 Yr -1.8%* -3.0% 1.8% 84.34%
5 Yr -0.8%* -2.2% 1.6% 58.82%
10 Yr N/A* -1.4% 1.8% N/A

* Annualized

Return Ranking - Calendar

Period PATFX Return Category Return Low Category Return High Rank in Category (%)
2019 5.2% -0.7% 9.1% 45.99%
2018 -3.0% -4.8% 9.2% 70.69%
2017 3.6% -9.7% 8.6% 60.00%
2016 -1.9% -6.1% -0.8% 20.27%
2015 -0.3% -5.6% 2.9% 66.41%

Total Return Ranking - Trailing

Period PATFX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.9% -14.0% 0.5% 73.06%
1 Yr -6.7% -13.9% 5.3% 70.00%
3 Yr -1.8%* -3.0% 1.8% 84.34%
5 Yr -0.8%* -2.2% 2.3% 62.50%
10 Yr N/A* -1.4% 4.3% N/A

* Annualized

Total Return Ranking - Calendar

Period PATFX Return Category Return Low Category Return High Rank in Category (%)
2019 5.2% -0.7% 9.1% 45.99%
2018 -3.0% -4.8% 9.2% 73.56%
2017 3.6% -9.7% 8.8% 63.23%
2016 -1.9% -6.1% 1.0% 24.32%
2015 -0.3% -5.6% 5.3% 66.41%

NAV & Total Return History


Holdings

PATFX - Holdings

Concentration Analysis

PATFX Category Low Category High PATFX % Rank
Net Assets 4.48 B 366 K 17.9 B 23.47%
Number of Holdings 1021 6 3645 23.71%
Net Assets in Top 10 423 M -38.7 M 2.51 B 15.98%
Weighting of Top 10 9.13% 4.2% 98.8% 92.78%

Top 10 Holdings

  1. VIRGINIA SMALL BUSINESS FING AUTH PRIVATE ACTIVITY REV 5% 1.97%
  2. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 1.30%
  3. VIRGINIA SMALL BUSINESS FING AUTH REV 5% 1.04%
  4. METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV 0% 0.81%
  5. LIBERTY N Y DEV CORP REV 5.25% 0.77%
  6. DENVER COLO CITY & CNTY SPL FACS ARPT REV 5% 0.72%
  7. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5.3% 0.72%
  8. VIRGINIA SMALL BUSINESS FING AUTH REV 5% 0.64%
  9. GREAT LAKES WTR AUTH MICH SEW DISP SYS REV 5% 0.61%
  10. JEFFERSON CNTY ALA SWR REV 5.5% 0.56%

Asset Allocation

Weighting Return Low Return High PATFX % Rank
Bonds
99.92% 79.21% 148.07% 12.89%
Cash
0.08% -1.98% 17.48% 82.47%
Stocks
0.00% 0.00% 3.82% 48.97%
Preferred Stocks
0.00% -48.07% 0.00% 42.27%
Other
0.00% -0.09% 1.67% 52.06%
Convertible Bonds
0.00% 0.00% 0.00% 42.78%

Bond Sector Breakdown

Weighting Return Low Return High PATFX % Rank
Municipal
99.92% 82.40% 100.00% 14.43%
Cash & Equivalents
0.08% 0.00% 17.60% 84.02%
Derivative
0.00% 0.00% 0.26% 46.91%
Securitized
0.00% 0.00% 0.00% 42.78%
Corporate
0.00% 0.00% 5.11% 63.40%
Government
0.00% -2.36% 1.20% 49.48%

Bond Geographic Breakdown

Weighting Return Low Return High PATFX % Rank
US
94.74% 74.35% 141.91% 32.47%
Non US
5.18% 0.00% 14.58% 47.42%

Expenses

PATFX - Expenses

Operational Fees

PATFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.03% 0.21% 2.78% 39.58%
Management Fee 0.59% 0.00% 1.25% 83.25%
12b-1 Fee 0.25% 0.00% 1.00% 43.86%
Administrative Fee N/A 0.01% 0.35% 76.32%

Sales Fees

PATFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

PATFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 30.77%

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.

PATFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 5.10% 5.10% 125.00% 0.52%

Distributions

PATFX - Distributions

Dividend Yield Analysis

PATFX Category Low Category High PATFX % Rank
Dividend Yield 0.00% 0.00% 1.16% 64.97%

Dividend Distribution Analysis

PATFX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PATFX Category Low Category High PATFX % Rank
Net Income Ratio 3.25% 1.99% 5.67% 76.04%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PATFX - Fund Manager Analysis

Managers

James Murphy


Start Date

Tenure

Tenure Rank

Jan 19, 2001

19.29

19.3%

Mr. Murphy, who joined T. Rowe Price in 2000, is a Vice President of T. Rowe Price Group, Inc. and T. Rowe Price Associates, Inc., and Portfolio Manager in the Fixed Income Division managing the firm's tax-free high-yield strategy. Mr. Murphy received a B.S. in finance from the University of Delaware and an M.B.A. in finance from Seton Hall University. He has also earned the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.35 6.94 0.44