TFHAX: T. Rowe Price Interm Tx-Fr Hi Yld I

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TFHAX T. Rowe Price Interm Tx-Fr Hi Yld I

  • Fund
  • TFHAX
  • Price as of: Oct 18, 2019
  • $10.64 - $0.00 - 0.00%

TFHAX - Profile

Vitals

  • YTD Return 3.9%
  • 3 Yr Annualized Return 3.3%
  • 5 Yr Annualized Return 3.9%
  • Net Assets $54.5 M
  • Holdings in Top 10 12.7%

52 WEEK LOW AND HIGH

$10.64
$10.15
$10.72

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.02%

SALES FEES

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

BROKERAGE FEES

  • Turnover 9.60%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Muni

Distributions

  • YTD Total Return 3.9%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.06%
DIVIDENDS
  • Dividend Yield 1.5%
  • 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 M. 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 - Fund Company Quick Screens

TFHAX - Performance

Return Ranking - Trailing

Period TFHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.9% 0.5% 8.5% 80.10%
1 Yr 7.3% 0.2% 10.5% 23.47%
3 Yr 3.3%* -1.7% 6.6% 22.16%
5 Yr 3.9%* -1.2% 6.7% 18.75%
10 Yr N/A* -0.4% 7.7% N/A

* Annualized


Return Ranking - Calendar

Period TFHAX Return Category Return Low Category Return High Rank in Category (%)
2018 -1.5% -5.7% 9.2% 34.97%
2017 N/A -9.7% 8.6% N/A
2016 N/A -6.1% -0.8% N/A
2015 N/A -5.6% 2.9% N/A
2014 N/A 2.9% 83.0% N/A

Total Return Ranking - Trailing

Period TFHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.9% 0.5% 9.3% 80.10%
1 Yr 7.3% -0.6% 10.5% 21.43%
3 Yr 3.3%* -1.7% 6.1% 20.96%
5 Yr 3.9%* -1.2% 6.5% 20.83%
10 Yr N/A* -0.4% 7.3% N/A

* Annualized


Total Return Ranking - Calendar

Period TFHAX Return Category Return Low Category Return High Rank in Category (%)
2018 -1.5% -5.7% 9.2% 38.25%
2017 N/A -9.7% 8.8% N/A
2016 N/A -6.1% 1.0% N/A
2015 N/A -5.6% 5.3% N/A
2014 N/A 2.9% 83.0% N/A

NAV & Total Return History

TFHAX - Holdings

Concentration Analysis

TFHAX Category Low Category High TFHAX % Rank
Net Assets 54.5 M 13 M 21.6 B 96.50%
Number of Holdings 232 6 3616 80.10%
Net Assets in Top 10 6.83 M -42.3 M 2.21 B 98.51%
Weighting of Top 10 12.67% 4.4% 98.8% 47.26%

Top 10 Holdings

  1. TOBACCO SETTLEMENT FING CORP N J 5% 2.22%

  2. NEW YORK TRANSN DEV CORP SPL FAC REV 5% 1.67%

  3. TUSTIN CALIF CMNTY FACS DIST SPL TAX 5% 1.11%

  4. FAIRFAX CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV 4% 1.11%

  5. OKLAHOMA DEV FIN AUTH HEALTH SYS REV 5% 1.11%

  6. MACON-BIBB CNTY GA URBAN DEV AUTH REV 5% 1.10%

  7. MICHIGAN FIN AUTH REV 5% 1.10%

  8. PARK CREEK MET DIST COLO REV 5% 1.09%

  9. COLORADO HEALTH FACS AUTH REV 5% 1.08%

  10. NEW ORLEANS LA SEW SVC REV 5% 1.07%


Asset Allocation

Weighting Return Low Return High TFHAX % Rank
Bonds
99.53% 92.43% 144.77% 44.28%
Cash
0.47% -3.98% 7.57% 55.22%
Stocks
0.00% 0.00% 0.58% 56.72%
Preferred Stocks
0.00% -44.89% 0.41% 52.24%
Other
0.00% -0.41% 1.04% 55.72%
Convertible Bonds
0.00% 0.00% 0.01% 52.74%

Bond Sector Breakdown

Weighting Return Low Return High TFHAX % Rank
Municipal
99.53% 92.43% 144.05% 39.30%
Cash & Equivalents
0.47% -3.51% 7.36% 58.21%
Derivative
0.00% -0.11% 0.05% 52.74%
Securitized
0.00% 0.00% 0.03% 52.74%
Corporate
0.00% -44.89% 6.89% 69.15%
Government
0.00% -5.20% 4.94% 43.78%

Bond Geographic Breakdown

Weighting Return Low Return High TFHAX % Rank
US
94.39% 83.19% 139.64% 53.23%
Non US
5.14% 0.00% 13.99% 47.76%

TFHAX - Expenses

Operational Fees

TFHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.02% 0.21% 3.71% 44.62%
Management Fee 0.49% 0.00% 1.32% 35.32%
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 2.00% 0.75% 2.00% 31.58%

Turnover 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 9.60% 1.00% 280.00% 6.00%

TFHAX - Distributions

Dividend Yield Analysis

TFHAX Category Low Category High TFHAX % Rank
Dividend Yield 1.46% 0.00% 19778.08% 71.14%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

TFHAX Category Low Category High TFHAX % Rank
Net Income Ratio 3.06% 1.46% 6.17% 83.08%

Capital Gain Distribution Analysis

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

TFHAX - Managers

James M. Murphy

Manager

Start Date

Tenure

Tenure Rank

Jul 24, 2014

5.19

5.2%

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

0.17

Category High

27.77

Category Average

7.46

Category Mode

3.5