PRINX: T. Rowe Price Summit Municipal Income Fund - MutualFunds.com
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T. Rowe Price Summit Municipal Inc Inv

PRINX - Snapshot

Vitals

  • YTD Return 2.2%
  • 3 Yr Annualized Return 5.2%
  • 5 Yr Annualized Return 3.3%
  • Net Assets $3.32 B
  • Holdings in Top 10 7.7%

52 WEEK LOW AND HIGH

$12.68
$12.09
$12.68

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.50%

SALES FEES

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

BROKERAGE FEES

  • Turnover 18.60%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $25,000
  • IRA N/A

Fund Classification

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

Compare PRINX to Popular Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$14.91

0.00%

$86.38 B

-

$0.00

0.34%

0.17%

$11.26

0.00%

$36.93 B

-

$0.00

0.00%

0.17%

$13.79

0.00%

$26.89 B

-

$0.00

1.25%

0.52%

$117.80

-0.03%

$22.71 B

-

-

0.45%

0.07%

$15.94

0.00%

$22.07 B

-

$0.00

-0.06%

0.17%

PRINX - Profile

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return 5.2%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.73%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    T. Rowe Price Summit Municipal Income Fund
  • Fund Family Name
    T. Rowe Price
  • Inception Date
    Oct 29, 1993
  • Shares Outstanding
    N/A
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Konstantine Mallas

Fund Description

The fund will normally invest at least 80% of its total assets in investment-grade municipal securities (rated in one of the four highest rating categories assigned by established credit rating agencies) by at least one major credit rating agency or, if unrated, deemed by T. Rowe Price to be of comparable quality. The fund may invest up to 20% of its total assets in noninvestment-grade bonds, known as "junk" bonds, including those with the lowest credit ratings.


PRINX - Performance

Return Ranking - Trailing

Period PRINX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -88.4% 8.9% 13.49%
1 Yr 7.1% -19.8% 22.3% 15.11%
3 Yr 5.2%* -6.1% 10.6% 21.69%
5 Yr 3.3%* -3.5% 7.1% 17.79%
10 Yr 4.8%* -0.2% 9.5% 17.38%

* Annualized

Return Ranking - Calendar

Period PRINX Return Category Return Low Category Return High Rank in Category (%)
2020 1.8% -91.1% 310.0% 36.17%
2019 4.7% -79.8% 15.4% 20.14%
2018 -2.7% -72.6% 97.2% 59.23%
2017 2.6% -100.0% 7.6% 19.75%
2016 -2.8% -35.9% 96.8% 45.77%

Total Return Ranking - Trailing

Period PRINX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -88.4% 8.9% 13.53%
1 Yr 7.1% -23.6% 29.0% 13.71%
3 Yr 5.2%* -6.9% 11.3% 18.19%
5 Yr 3.3%* -4.0% 7.1% 14.24%
10 Yr 4.8%* -0.4% 9.5% 14.65%

* Annualized

Total Return Ranking - Calendar

Period PRINX Return Category Return Low Category Return High Rank in Category (%)
2020 1.8% -91.1% 310.0% 36.17%
2019 4.7% -79.8% 15.4% 20.46%
2018 -2.7% -72.6% 11.0% 60.45%
2017 2.6% -100.0% 7.6% 22.77%
2016 -2.8% -35.9% 3.0% 50.14%

NAV & Total Return History


PRINX - Holdings

Concentration Analysis

PRINX Category Low Category High PRINX % Rank
Net Assets 3.32 B 901 K 86.4 B 11.76%
Number of Holdings 825 1 11766 9.30%
Net Assets in Top 10 257 M -241 M 4.86 B 12.39%
Weighting of Top 10 7.72% 2.4% 100.0% 93.56%

Top 10 Holdings

  1. LOS ANGELES CALIF 4% 1.09%
  2. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 0.99%
  3. WASHINGTON ST 5% 0.78%
  4. HAMPTON RDS VA TRANSN ACCOUNTABILITY COMMN REV 5.5% 0.76%
  5. MASSACHUSETTS BAY TRANSN AUTH MASS SALES TAX REV 4% 0.73%
  6. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 0.71%
  7. JACKSON CNTY MISS PORT FAC REV 0.02% 0.70%
  8. NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 4% 0.69%
  9. GREATER ORLANDO AVIATION AUTH ORLANDO FLA ARPT FACS REV 5% 0.69%
  10. ENERGY NORTHWEST WASH ELEC REV 5% 0.68%

Asset Allocation

Weighting Return Low Return High PRINX % Rank
Bonds
101.35% 51.33% 145.79% 5.12%
Stocks
0.00% -0.08% 2.77% 70.08%
Preferred Stocks
0.00% -3.41% 1.06% 69.05%
Other
0.00% -13.42% 30.00% 69.66%
Convertible Bonds
0.00% 0.00% 1.18% 69.82%
Cash
-1.34% -45.79% 48.67% 95.74%

Bond Sector Breakdown

Weighting Return Low Return High PRINX % Rank
Municipal
99.84% 39.29% 100.00% 38.79%
Cash & Equivalents
0.16% 0.00% 48.67% 60.56%
Derivative
0.00% 0.00% 0.10% 69.86%
Securitized
0.00% 0.00% 7.63% 70.23%
Corporate
0.00% 0.00% 13.54% 72.66%
Government
0.00% 0.00% 51.02% 70.71%

Bond Geographic Breakdown

Weighting Return Low Return High PRINX % Rank
US
98.34% 0.00% 141.11% 43.95%
Non US
3.01% 0.00% 100.00% 23.68%

PRINX - Expenses

Operational Fees

PRINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.01% 4.23% 58.50%
Management Fee 0.37% 0.00% 1.12% 31.93%
12b-1 Fee N/A 0.00% 1.00% 58.92%
Administrative Fee 0.15% 0.01% 0.47% 71.94%

Sales Fees

PRINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

PRINX 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.

PRINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 18.60% 0.00% 299.40% 42.24%

PRINX - Distributions

Dividend Yield Analysis

PRINX Category Low Category High PRINX % Rank
Dividend Yield 0.00% 0.00% 1.75% 70.79%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PRINX Category Low Category High PRINX % Rank
Net Income Ratio 2.73% -1.65% 24.00% 23.27%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

PRINX - Fund Manager Analysis

Managers

Konstantine Mallas


Start Date

Tenure

Tenure Rank

Feb 28, 1999

22.35

22.4%

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 36.27 7.11 0.66