PRFHX: T. Rowe Price Tax Free High Yield Fund - MutualFunds.com

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T. Rowe Price Tax-Free High Yield

PRFHX - Snapshot

Vitals

  • YTD Return -1.4%
  • 3 Yr Annualized Return 4.1%
  • 5 Yr Annualized Return 4.2%
  • Net Assets $4.67 B
  • Holdings in Top 10 9.5%

52 WEEK LOW AND HIGH

$12.14
$10.80
$12.67

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.72%

SALES FEES

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

BROKERAGE FEES

  • Turnover 5.10%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $1,000

Fund Classification


Compare PRFHX to Popular High Yield Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$17.31

+0.29%

$19.31 B

0.00%

$0.00

-3.78%

-

$10.04

+0.20%

$10.00 B

-

$0.00

-2.52%

-

$10.29

+0.20%

$9.25 B

-

$0.00

0.00%

-

$13.02

+0.23%

$8.87 B

0.00%

$0.00

0.31%

-

$16.42

+0.18%

$7.96 B

-

$0.00

-0.12%

-

PRFHX - Profile

Distributions

  • YTD Total Return -1.4%
  • 3 Yr Annualized Total Return 4.1%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency None
  • Net Income Ratio 3.56%
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
    Mar 01, 1985
  • Shares Outstanding
    N/A
  • Share Class
    No Load
  • 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.


PRFHX - Performance

Return Ranking - Trailing

Period PRFHX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.4% -11.2% 4.1% 62.86%
1 Yr 2.0% -8.5% 7.7% 64.49%
3 Yr 4.1%* 1.9% 9.7% 69.23%
5 Yr 4.2%* 2.3% 8.2% 61.31%
10 Yr 5.5%* 3.5% 8.7% 57.05%

* Annualized

Return Ranking - Calendar

Period PRFHX Return Category Return Low Category Return High Rank in Category (%)
2019 5.2% -0.7% 11.7% 46.34%
2018 -3.0% -5.7% 95.6% 68.59%
2017 3.4% -0.7% 8.6% 58.82%
2016 -2.3% -6.7% -0.8% 24.69%
2015 -0.3% -4.0% 2.9% 63.64%

Total Return Ranking - Trailing

Period PRFHX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.4% -11.2% 4.1% 62.86%
1 Yr 2.0% -8.5% 7.7% 44.39%
3 Yr 4.1%* 1.6% 9.7% 56.25%
5 Yr 4.2%* 2.2% 8.2% 54.77%
10 Yr 5.5%* 3.5% 8.7% 55.70%

* Annualized

Total Return Ranking - Calendar

Period PRFHX Return Category Return Low Category Return High Rank in Category (%)
2019 5.2% -0.7% 12.0% 46.34%
2018 -3.0% -5.7% 4.2% 73.30%
2017 3.4% -0.7% 9.8% 63.53%
2016 -2.3% -6.1% 1.1% 29.63%
2015 -0.3% -4.0% 5.3% 67.13%

NAV & Total Return History


PRFHX - Holdings

Concentration Analysis

PRFHX Category Low Category High PRFHX % Rank
Net Assets 4.67 B 497 K 19.3 B 20.37%
Number of Holdings 996 5 3470 23.04%
Net Assets in Top 10 450 M -38.2 M 2.4 B 17.51%
Weighting of Top 10 9.54% 4.8% 99.9% 82.49%

Top 10 Holdings

  1. VIRGINIA SMALL BUSINESS FING AUTH PRIVATE ACTIVITY REV 5% 1.99%
  2. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 1.57%
  3. VIRGINIA SMALL BUSINESS FING AUTH REV 5% 0.96%
  4. LIBERTY N Y DEV CORP REV 5.25% 0.85%
  5. METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV 0% 0.83%
  6. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5.3% 0.73%
  7. DENVER COLO CITY & CNTY SPL FACS ARPT REV 5% 0.72%
  8. NEW YORK LIBERTY DEV CORP LIBERTY REV 5.38% 0.68%
  9. PUERTO RICO COMWLTH 8% 0.62%
  10. GREAT LAKES WTR AUTH MICH SEW DISP SYS REV 5% 0.61%

Asset Allocation

Weighting Return Low Return High PRFHX % Rank
Bonds
99.89% 66.11% 143.82% 28.11%
Cash
0.11% -1.19% 32.09% 70.51%
Stocks
0.01% 0.00% 2.72% 15.21%
Preferred Stocks
0.00% -43.98% 0.00% 76.96%
Other
0.00% 0.00% 3.80% 79.72%
Convertible Bonds
0.00% 0.00% 0.00% 78.34%

Stock Sector Breakdown

Weighting Return Low Return High PRFHX % Rank
Consumer Cyclical
76.79% 0.00% 76.79% 13.04%
Basic Materials
18.25% 0.00% 100.00% 34.78%
Industrials
4.96% 0.00% 100.00% 78.26%
Utilities
0.00% 0.00% 0.00% 100.00%
Technology
0.00% 0.00% 0.00% 100.00%
Real Estate
0.00% 0.00% 0.00% 100.00%
Healthcare
0.00% 0.00% 0.00% 100.00%
Financial Services
0.00% 0.00% 0.00% 100.00%
Energy
0.00% 0.00% 0.00% 100.00%
Communication Services
0.00% 0.00% 0.00% 100.00%
Consumer Defense
0.00% 0.00% 0.00% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High PRFHX % Rank
US
0.01% 0.00% 2.72% 15.21%
Non US
0.00% 0.00% 0.00% 78.34%

Bond Sector Breakdown

Weighting Return Low Return High PRFHX % Rank
Municipal
99.89% 67.32% 100.00% 19.82%
Cash & Equivalents
0.11% 0.00% 32.68% 80.65%
Derivative
0.00% 0.00% 0.23% 80.18%
Securitized
0.00% 0.00% 0.00% 78.34%
Corporate
0.00% 0.00% 12.53% 86.18%
Government
0.00% 0.00% 0.80% 80.65%

Bond Geographic Breakdown

Weighting Return Low Return High PRFHX % Rank
US
93.73% 66.11% 136.78% 53.00%
Non US
6.16% 0.00% 12.73% 36.87%

PRFHX - Expenses

Operational Fees

PRFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.18% 7.04% 69.30%
Management Fee 0.59% 0.00% 1.60% 82.95%
12b-1 Fee N/A 0.00% 1.00% 11.48%
Administrative Fee N/A 0.01% 0.35% 78.95%

Sales Fees

PRFHX 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

PRFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 76.92%

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.

PRFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 5.10% 5.10% 314.00% 1.39%

PRFHX - Distributions

Dividend Yield Analysis

PRFHX Category Low Category High PRFHX % Rank
Dividend Yield 0.00% 0.00% 3.05% 79.72%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PRFHX Category Low Category High PRFHX % Rank
Net Income Ratio 3.56% -0.98% 6.28% 58.14%

Capital Gain Distribution Analysis

PRFHX Category Low Category High Capital Mode
Capital Gain Distribution Frequency None Annually Annually Annually

Dividend Payout History

View More +

PRFHX - Fund Manager Analysis

Managers

James Murphy


Start Date

Tenure

Tenure Rank

Jan 19, 2001

19.88

19.9%

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 22.68 7.08 1.02
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