Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 04/22/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
0.8%
1 yr return
5.5%
3 Yr Avg Return
-1.0%
5 Yr Avg Return
1.5%
Net Assets
$3.34 B
Holdings in Top 10
11.0%
Expense Ratio 0.63%
Front Load N/A
Deferred Load N/A
Turnover 11.80%
Redemption Fee N/A
Standard (Taxable)
$500,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 04/22/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Although the fund may purchase securities of any maturity, the fund invests primarily in longer-term municipal securities. The fund generally seeks higher-yielding municipal bonds, including those that are rated below investment grade (BB and lower, or an equivalent rating) by a major credit rating agency or by T. Rowe Price, known as “junk” bonds.
T. Rowe Price’s active investment management approach emphasizes the value of in-depth fundamental credit research, diversification, and risk management practices. By using fundamental research, T. Rowe Price seeks to select investments for the fund’s portfolio based on its outlook for the different sectors of the tax-free municipal market (for example, T. Rowe Price may emphasize revenue bonds instead of state and local general obligation debt) and specific issuers or securities. The goal of this approach is to seek higher yields while taking a risk-conscious approach. Risk management practices include managing the fund’s duration (which is a measurement of the price sensitivity of a bond or bond fund to changes in interest rates), while also focusing on striking a balance between (i) investing more heavily in certain sectors or issuers and (ii) diversifying the fund’s investments across the broader municipal market.
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.
From time to time, the fund may invest a significant portion of its assets in sectors with special risks, such as health care, transportation, utilities, or private activity bonds.
Period | PTYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.8% | -4.5% | 3.3% | 23.19% |
1 Yr | 5.5% | -2.9% | 8.9% | 25.60% |
3 Yr | -1.0%* | -10.0% | 1.6% | 20.79% |
5 Yr | 1.5%* | -4.9% | 524.7% | 27.46% |
10 Yr | N/A* | 0.0% | 155.5% | 46.88% |
* Annualized
Period | PTYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.1% | -1.5% | 7.5% | 44.44% |
2022 | -16.7% | -26.9% | -3.5% | 40.69% |
2021 | 2.9% | -1.9% | 5.6% | 25.37% |
2020 | -0.2% | -10.1% | 4.2% | 68.34% |
2019 | 5.2% | 2.0% | 9.1% | 46.11% |
Period | PTYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.8% | -4.5% | 3.3% | 23.19% |
1 Yr | 5.5% | -2.9% | 8.9% | 25.60% |
3 Yr | -1.0%* | -10.0% | 1.6% | 20.79% |
5 Yr | 1.5%* | -4.9% | 524.7% | 27.46% |
10 Yr | N/A* | 0.0% | 155.5% | 43.13% |
* Annualized
Period | PTYIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.2% | 0.4% | 10.9% | 45.89% |
2022 | -13.5% | -26.9% | -2.9% | 39.22% |
2021 | 6.2% | -1.9% | 10.0% | 33.33% |
2020 | 2.8% | -4.1% | 8.2% | 65.33% |
2019 | 9.2% | 3.5% | 1028633.9% | 37.82% |
PTYIX | Category Low | Category High | PTYIX % Rank | |
---|---|---|---|---|
Net Assets | 3.34 B | 9.79 K | 16.1 B | 27.05% |
Number of Holdings | 1010 | 1 | 3076 | 25.73% |
Net Assets in Top 10 | 373 M | -102 M | 3.44 B | 29.13% |
Weighting of Top 10 | 11.04% | 4.7% | 100.7% | 77.07% |
Weighting | Return Low | Return High | PTYIX % Rank | |
---|---|---|---|---|
Bonds | 99.04% | 0.00% | 146.69% | 39.71% |
Cash | 0.95% | -0.64% | 100.00% | 56.80% |
Stocks | 0.01% | 0.00% | 99.38% | 25.84% |
Preferred Stocks | 0.00% | -47.61% | 1.89% | 53.88% |
Other | 0.00% | -12.04% | 9.96% | 54.37% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 54.37% |
Weighting | Return Low | Return High | PTYIX % Rank | |
---|---|---|---|---|
Consumer Cyclical | 77.65% | 0.00% | 77.65% | 25.00% |
Basic Materials | 17.58% | 17.58% | 100.00% | 87.50% |
Industrials | 4.78% | 0.00% | 4.78% | 25.00% |
Utilities | 0.00% | 0.00% | 0.00% | 62.50% |
Technology | 0.00% | 0.00% | 0.00% | 62.50% |
Real Estate | 0.00% | 0.00% | 0.00% | 62.50% |
Healthcare | 0.00% | 0.00% | 0.00% | 62.50% |
Financial Services | 0.00% | 0.00% | 0.00% | 62.50% |
Energy | 0.00% | 0.00% | 0.00% | 62.50% |
Communication Services | 0.00% | 0.00% | 0.00% | 62.50% |
Consumer Defense | 0.00% | 0.00% | 0.00% | 62.50% |
Weighting | Return Low | Return High | PTYIX % Rank | |
---|---|---|---|---|
US | 0.01% | 0.00% | 99.38% | 26.21% |
Non US | 0.00% | 0.00% | 0.00% | 54.37% |
Weighting | Return Low | Return High | PTYIX % Rank | |
---|---|---|---|---|
Municipal | 99.85% | 0.00% | 100.00% | 13.59% |
Derivative | 0.00% | -12.35% | 1.55% | 50.49% |
Cash & Equivalents | 0.00% | 0.00% | 100.00% | 72.82% |
Securitized | 0.00% | 0.00% | 22.44% | 56.80% |
Corporate | 0.00% | 0.00% | 2.83% | 79.61% |
Government | 0.00% | 0.00% | 0.09% | 57.28% |
Weighting | Return Low | Return High | PTYIX % Rank | |
---|---|---|---|---|
US | 99.04% | 0.00% | 139.84% | 35.44% |
Non US | 0.00% | 0.00% | 13.35% | 57.28% |
PTYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.63% | 0.21% | 3.44% | 84.39% |
Management Fee | 0.59% | 0.00% | 1.41% | 82.78% |
12b-1 Fee | N/A | 0.00% | 1.00% | 12.30% |
Administrative Fee | N/A | 0.02% | 0.35% | N/A |
PTYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 4.50% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
PTYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | 84.62% |
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.
PTYIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 11.80% | 2.00% | 121.00% | 11.46% |
PTYIX | Category Low | Category High | PTYIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 6.73% | 61.72% |
PTYIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
PTYIX | Category Low | Category High | PTYIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.10% | 1.11% | 5.70% | 55.02% |
PTYIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.036 | OrdinaryDividend |
Feb 29, 2024 | $0.034 | OrdinaryDividend |
Jan 31, 2024 | $0.035 | DailyAccrualFund |
Dec 29, 2023 | $0.037 | DailyAccrualFund |
Nov 30, 2023 | $0.034 | DailyAccrualFund |
Oct 31, 2023 | $0.033 | DailyAccrualFund |
Sep 29, 2023 | $0.035 | DailyAccrualFund |
Aug 31, 2023 | $0.033 | DailyAccrualFund |
Jul 31, 2023 | $0.033 | DailyAccrualFund |
Jun 30, 2023 | $0.036 | DailyAccrualFund |
May 31, 2023 | $0.034 | DailyAccrualFund |
Apr 28, 2023 | $0.031 | DailyAccrualFund |
Mar 31, 2023 | $0.038 | DailyAccrualFund |
Feb 28, 2023 | $0.029 | DailyAccrualFund |
Jan 31, 2023 | $0.034 | DailyAccrualFund |
Dec 30, 2022 | $0.037 | DailyAccrualFund |
Nov 30, 2022 | $0.033 | DailyAccrualFund |
Oct 31, 2022 | $0.033 | DailyAccrualFund |
Sep 30, 2022 | $0.036 | DailyAccrualFund |
Aug 31, 2022 | $0.035 | DailyAccrualFund |
Jul 29, 2022 | $0.038 | DailyAccrualFund |
Jun 30, 2022 | $0.036 | DailyAccrualFund |
May 31, 2022 | $0.036 | DailyAccrualFund |
Apr 29, 2022 | $0.035 | DailyAccrualFund |
Mar 31, 2022 | $0.033 | DailyAccrualFund |
Jan 31, 2022 | $0.030 | DailyAccrualFund |
Dec 31, 2021 | $0.035 | DailyAccrualFund |
Nov 30, 2021 | $0.032 | DailyAccrualFund |
Oct 29, 2021 | $0.032 | DailyAccrualFund |
Sep 30, 2021 | $0.031 | DailyAccrualFund |
Aug 31, 2021 | $0.032 | DailyAccrualFund |
Jul 30, 2021 | $0.034 | DailyAccrualFund |
Jun 30, 2021 | $0.033 | DailyAccrualFund |
May 28, 2021 | $0.032 | DailyAccrualFund |
Apr 30, 2021 | $0.035 | DailyAccrualFund |
Mar 31, 2021 | $0.034 | DailyAccrualFund |
Feb 26, 2021 | $0.030 | DailyAccrualFund |
Jan 29, 2021 | $0.032 | DailyAccrualFund |
Dec 31, 2020 | $0.039 | DailyAccrualFund |
Nov 30, 2020 | $0.033 | DailyAccrualFund |
Oct 30, 2020 | $0.034 | DailyAccrualFund |
Sep 30, 2020 | $0.036 | DailyAccrualFund |
Aug 31, 2020 | $0.035 | DailyAccrualFund |
Jul 31, 2020 | $0.040 | DailyAccrualFund |
Jun 30, 2020 | $0.036 | DailyAccrualFund |
May 29, 2020 | $0.037 | DailyAccrualFund |
Apr 30, 2020 | $0.035 | DailyAccrualFund |
Mar 31, 2020 | $0.036 | DailyAccrualFund |
Feb 28, 2020 | $0.034 | DailyAccrualFund |
Jan 31, 2020 | $0.038 | DailyAccrualFund |
Dec 31, 2019 | $0.039 | DailyAccrualFund |
Nov 29, 2019 | $0.038 | DailyAccrualFund |
Oct 31, 2019 | $0.038 | DailyAccrualFund |
Sep 30, 2019 | $0.034 | DailyAccrualFund |
Aug 30, 2019 | $0.040 | DailyAccrualFund |
Jul 31, 2019 | $0.038 | DailyAccrualFund |
May 31, 2019 | $0.040 | DailyAccrualFund |
Apr 30, 2019 | $0.036 | DailyAccrualFund |
Mar 29, 2019 | $0.038 | DailyAccrualFund |
Feb 28, 2019 | $0.035 | DailyAccrualFund |
Jan 31, 2019 | $0.037 | DailyAccrualFund |
Dec 31, 2018 | $0.037 | DailyAccrualFund |
Nov 30, 2018 | $0.039 | DailyAccrualFund |
Oct 31, 2018 | $0.036 | DailyAccrualFund |
Aug 31, 2018 | $0.042 | DailyAccrualFund |
Jul 31, 2018 | $0.036 | DailyAccrualFund |
Jun 29, 2018 | $0.038 | DailyAccrualFund |
May 31, 2018 | $0.038 | DailyAccrualFund |
Apr 30, 2018 | $0.036 | DailyAccrualFund |
Mar 29, 2018 | $0.038 | DailyAccrualFund |
Feb 28, 2018 | $0.038 | DailyAccrualFund |
Jan 31, 2018 | $0.036 | DailyAccrualFund |
Dec 29, 2017 | $0.037 | DailyAccrualFund |
Nov 30, 2017 | $0.038 | DailyAccrualFund |
Oct 31, 2017 | $0.036 | DailyAccrualFund |
Sep 29, 2017 | $0.039 | DailyAccrualFund |
Aug 31, 2017 | $0.038 | DailyAccrualFund |
Jul 31, 2017 | $0.035 | DailyAccrualFund |
Jun 30, 2017 | $0.041 | DailyAccrualFund |
May 31, 2017 | $0.037 | DailyAccrualFund |
Apr 28, 2017 | $0.035 | DailyAccrualFund |
Mar 31, 2017 | $0.040 | DailyAccrualFund |
Feb 28, 2017 | $0.038 | DailyAccrualFund |
Jan 31, 2017 | $0.035 | DailyAccrualFund |
Dec 30, 2016 | $0.040 | DailyAccrualFund |
Nov 30, 2016 | $0.001 | DailyAccrualFund |
Start Date
Tenure
Tenure Rank
Jan 19, 2001
21.38
21.4%
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.06 | 21.43 | 7.46 | 2.52 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...