TFHAX: T. Rowe Price Intermediate Tax-Free High Yield Fund - MutualFunds.com
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T. Rowe Price Interm Tx-Fr Hi Yld I

TFHAX - Snapshot

Vitals

  • YTD Return 0.3%
  • 3 Yr Annualized Return 3.6%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $65.5 M
  • Holdings in Top 10 12.0%

52 WEEK LOW AND HIGH

$10.59
$9.67
$10.80

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.01%

SALES FEES

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

BROKERAGE FEES

  • Turnover 11.30%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification


Compare TFHAX to Popular High Yield Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$17.77

+0.06%

$20.00 B

0.00%

$0.00

0.79%

-

$10.23

-0.10%

$10.20 B

-

$0.00

0.59%

-

$10.50

+0.10%

$9.56 B

-

$0.00

0.77%

-

$13.29

+0.08%

$9.36 B

0.00%

$0.00

0.76%

-

$16.67

+0.06%

$8.17 B

-

$0.00

0.60%

-

TFHAX - Profile

Distributions

  • YTD Total Return 0.3%
  • 3 Yr Annualized Total Return 3.6%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.99%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    T. Rowe Price Intermediate Tax-Free High Yield Fund
  • Fund Family Name
    T. Rowe Price
  • Inception Date
    Jul 06, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    James Murphy

Fund Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in securities whose interest is free from federal income taxes. However, up to 20% of its income could be derived from securities subject to the alternative minimum tax. Although the fund may purchase securities of any maturity, the fund normally maintains a weighted average effective maturity of between three and 10 years. Targeting effective maturity gives the portfolio manager additional flexibility.


TFHAX - Performance

Return Ranking - Trailing

Period TFHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -0.8% 1.2% 82.87%
1 Yr 2.3% -7.3% 8.0% 80.65%
3 Yr 3.6%* 2.1% 9.9% 87.98%
5 Yr 3.5%* 2.5% 8.4% 87.00%
10 Yr N/A* 3.8% 9.4% N/A

* Annualized

Return Ranking - Calendar

Period TFHAX Return Category Return Low Category Return High Rank in Category (%)
2020 -0.6% -10.1% 4.2% 73.33%
2019 3.7% -0.7% 11.7% 86.83%
2018 -1.5% -5.7% 95.6% 32.98%
2017 N/A -0.7% 8.6% N/A
2016 N/A -6.7% -0.8% N/A

Total Return Ranking - Trailing

Period TFHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -0.8% 1.2% 82.87%
1 Yr 2.3% -7.3% 8.0% 58.06%
3 Yr 3.6%* 1.8% 9.9% 77.88%
5 Yr 3.5%* 2.2% 8.4% 82.00%
10 Yr N/A* 3.8% 9.4% N/A

* Annualized

Total Return Ranking - Calendar

Period TFHAX Return Category Return Low Category Return High Rank in Category (%)
2020 -0.6% -10.1% 4.2% 73.33%
2019 3.7% -0.7% 12.0% 86.83%
2018 -1.5% -5.7% 4.2% 38.74%
2017 N/A -0.7% 9.8% N/A
2016 N/A -6.1% 1.1% N/A

NAV & Total Return History


TFHAX - Holdings

Concentration Analysis

TFHAX Category Low Category High TFHAX % Rank
Net Assets 65.5 M 501 K 20 B 93.06%
Number of Holdings 265 5 3457 75.12%
Net Assets in Top 10 7.51 M -38.2 M 2.5 B 97.24%
Weighting of Top 10 12.02% 4.8% 99.9% 66.51%

Top 10 Holdings

  1. TOBACCO SETTLEMENT FING CORP N J 5% 1.96%
  2. PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5% 1.49%
  3. VIRGINIA SMALL BUSINESS FING AUTH REV 5% 1.49%
  4. NEW YORK TRANSN DEV CORP SPL FAC REV 5% 1.36%
  5. NEW ORLEANS LA SEW SVC REV 5% 0.98%
  6. PUERTO RICO SALES TAX FING CORP SALES TAX REV 0% 0.97%
  7. TUSTIN CALIF CMNTY FACS DIST SPL TAX 5% 0.96%
  8. MICHIGAN FIN AUTH REV 5% 0.95%
  9. PARK CREEK MET DIST COLO REV 5% 0.95%
  10. MACON-BIBB CNTY GA URBAN DEV AUTH REV 5% 0.95%

Asset Allocation

Weighting Return Low Return High TFHAX % Rank
Bonds
99.86% 59.70% 143.82% 29.49%
Cash
0.14% -0.95% 38.20% 68.66%
Stocks
0.00% 0.00% 2.80% 90.32%
Preferred Stocks
0.00% -43.98% 0.00% 88.02%
Other
0.00% 0.00% 1.72% 89.86%
Convertible Bonds
0.00% 0.00% 0.00% 89.86%

Bond Sector Breakdown

Weighting Return Low Return High TFHAX % Rank
Municipal
99.86% 60.98% 100.00% 24.88%
Cash & Equivalents
0.14% 0.00% 39.02% 76.50%
Derivative
0.00% 0.00% 0.23% 89.86%
Securitized
0.00% 0.00% 17.71% 89.86%
Corporate
0.00% 0.00% 12.53% 91.24%
Government
0.00% 0.00% 0.83% 89.86%

Bond Geographic Breakdown

Weighting Return Low Return High TFHAX % Rank
US
93.85% 59.70% 136.78% 46.54%
Non US
6.01% 0.00% 12.73% 38.25%

TFHAX - Expenses

Operational Fees

TFHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.01% 0.18% 7.04% 41.67%
Management Fee 0.49% 0.00% 1.60% 43.32%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

TFHAX 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

TFHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 69.23%

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.

TFHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.30% 5.10% 314.00% 11.57%

TFHAX - Distributions

Dividend Yield Analysis

TFHAX Category Low Category High TFHAX % Rank
Dividend Yield 0.00% 0.00% 2.36% 90.32%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

TFHAX Category Low Category High TFHAX % Rank
Net Income Ratio 2.99% -0.98% 6.28% 75.00%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

TFHAX - Fund Manager Analysis

Managers

James Murphy


Start Date

Tenure

Tenure Rank

Jul 24, 2014

6.44

6.4%

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
0.16 22.77 7.14 1.11