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T. Rowe Price Intermediate Tax-Free High Yield Fund
mutual fund
TFHAX
Payout Change
Pending
Price as of:
$9.88
+0.0
+0.0%
primary theme
High Yield Municipal Bond
share class
TFHAX (Mutual Fund)
T. Rowe Price Intermediate Tax-Free High Yield Fund
Payout Change
Pending
Price as of:
$9.88
+0.0
+0.0%
primary theme
High Yield Municipal Bond
share class
TFHAX (Mutual Fund)
T. Rowe Price Intermediate Tax-Free High Yield Fund
Payout Change
Pending
Price as of:
$9.88
+0.0
+0.0%
primary theme
High Yield Municipal Bond
share class
Name
As of 12/03/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
5.3%
1 yr return
7.1%
3 Yr Avg Return
0.4%
5 Yr Avg Return
1.4%
Net Assets
$88.5 M
Holdings in Top 10
11.4%
52 WEEK LOW AND HIGH
$9.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.79%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 15.60%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/03/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
TFHAX - Profile
Distributions
- YTD Total Return 5.3%
- 3 Yr Annualized Total Return 0.4%
- 5 Yr Annualized Total Return 1.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.68%
- Dividend Yield 3.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameT. Rowe Price Intermediate Tax-Free High Yield Fund
-
Fund Family NameTROWEPRICE
-
Inception DateJul 06, 2017
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJames 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. The fund may invest in securities rated in any rating category, but generally seeks higher-yielding municipal bonds, including those that are rated below investment grade (BB and lower, or an equivalent rating) by established credit rating agencies or, if unrated, deemed by the adviser to be of comparable credit quality, known as “junk” bonds. 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 within this range of effective maturity gives the portfolio manager additional flexibility.
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.
TFHAX - Performance
Return Ranking - Trailing
| Period | TFHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.3% | -0.9% | 14.5% | 80.69% |
| 1 Yr | 7.1% | 0.0% | 18.5% | 86.14% |
| 3 Yr | 0.4%* | -8.2% | 3.4% | 11.68% |
| 5 Yr | 1.4%* | -4.8% | 3.9% | 53.33% |
| 10 Yr | N/A* | -0.4% | 155.7% | N/A |
* Annualized
Return Ranking - Calendar
| Period | TFHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.9% | -6.2% | 7.5% | 68.47% |
| 2022 | -11.9% | -26.9% | -3.5% | 12.50% |
| 2021 | 2.0% | -1.9% | 5.6% | 57.87% |
| 2020 | -0.6% | -4.0% | 4.2% | 75.00% |
| 2019 | 3.7% | -0.7% | 9.1% | 90.00% |
Total Return Ranking - Trailing
| Period | TFHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.3% | -0.9% | 14.5% | 80.69% |
| 1 Yr | 7.1% | 0.0% | 18.5% | 86.14% |
| 3 Yr | 0.4%* | -8.2% | 3.4% | 11.68% |
| 5 Yr | 1.4%* | -4.8% | 3.9% | 53.33% |
| 10 Yr | N/A* | -0.4% | 155.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | TFHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.4% | -4.1% | 10.9% | 73.40% |
| 2022 | -8.9% | -26.9% | 4.3% | 9.00% |
| 2021 | 4.7% | -1.9% | 10.0% | 67.01% |
| 2020 | 1.1% | -2.6% | 8.2% | 85.20% |
| 2019 | 7.1% | -0.7% | 1028633.9% | 82.63% |
NAV & Total Return History
TFHAX - Holdings
Concentration Analysis
| TFHAX | Category Low | Category High | TFHAX % Rank | |
|---|---|---|---|---|
| Net Assets | 88.5 M | 9.79 K | 15.6 B | 95.02% |
| Number of Holdings | 384 | 1 | 3325 | 56.50% |
| Net Assets in Top 10 | 11.6 M | -102 M | 1.96 B | 95.50% |
| Weighting of Top 10 | 11.44% | 4.6% | 98.9% | 64.32% |
Top 10 Holdings
- MARYLAND HEALTH HIGHER EDUCATIONAL FACILITIES AUTHORITY 1.52%
- PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 1.33%
- PUERTO RICO COMMONWEALTH AQUEDUCT SEWER AUTHORITY 1.31%
- PUERTO RICO COMMONWEALTH AQUEDUCT SEWER AUTHORITY 1.30%
- MARYLAND ECONOMIC DEVELOPMENT CORP 1.17%
- BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY 1.08%
- STATE OF ILLINOIS 1.01%
- PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 0.99%
- COMMONWEALTH OF PUERTO RICO 0.87%
- DELAWARE STATE HEALTH FACILITIES AUTHORITY 0.87%
Asset Allocation
| Weighting | Return Low | Return High | TFHAX % Rank | |
|---|---|---|---|---|
| Bonds | 100.06% | 0.00% | 146.69% | 32.02% |
| Stocks | 0.00% | 0.00% | 99.72% | 80.30% |
| Preferred Stocks | 0.00% | -47.61% | 0.00% | 76.50% |
| Other | 0.00% | -5.67% | 5.07% | 74.00% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 76.00% |
| Cash | 0.00% | -0.64% | 100.00% | 91.00% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | TFHAX % Rank | |
|---|---|---|---|---|
| Municipal | 97.46% | 0.00% | 100.00% | 63.00% |
| Derivative | 0.00% | -7.70% | 2.16% | 68.50% |
| Cash & Equivalents | 0.00% | 0.00% | 100.00% | 83.00% |
| Securitized | 0.00% | 0.00% | 22.44% | 75.50% |
| Corporate | 0.00% | 0.00% | 2.83% | 88.00% |
| Government | 0.00% | 0.00% | 0.09% | 77.00% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | TFHAX % Rank | |
|---|---|---|---|---|
| US | 100.06% | 0.00% | 139.84% | 31.50% |
| Non US | 0.00% | 0.00% | 13.35% | 80.00% |
TFHAX - Expenses
Operational Fees
| TFHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.79% | 0.22% | 3.44% | 63.37% |
| Management Fee | 0.36% | 0.00% | 1.41% | 12.81% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.02% | 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% | 4.50% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| TFHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 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 | 15.60% | 2.00% | 121.00% | 34.57% |
TFHAX - Distributions
Dividend Yield Analysis
| TFHAX | Category Low | Category High | TFHAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.66% | 0.00% | 5.94% | 70.94% |
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 | 2.68% | 1.11% | 5.44% | 73.89% |
Capital Gain Distribution Analysis
| TFHAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 30, 2024 | $0.030 | OrdinaryDividend |
| Sep 27, 2024 | $0.027 | OrdinaryDividend |
| Aug 29, 2024 | $0.032 | OrdinaryDividend |
| Jul 30, 2024 | $0.030 | OrdinaryDividend |
| Apr 29, 2024 | $0.029 | OrdinaryDividend |
| Mar 27, 2024 | $0.029 | OrdinaryDividend |
| Feb 28, 2024 | $0.027 | OrdinaryDividend |
| Jan 30, 2024 | $0.028 | OrdinaryDividend |
| Dec 28, 2023 | $0.029 | OrdinaryDividend |
| Nov 29, 2023 | $0.027 | OrdinaryDividend |
| Oct 30, 2023 | $0.027 | OrdinaryDividend |
| Sep 28, 2023 | $0.028 | OrdinaryDividend |
| Aug 30, 2023 | $0.025 | OrdinaryDividend |
| Jul 28, 2023 | $0.026 | OrdinaryDividend |
| Jun 29, 2023 | $0.029 | OrdinaryDividend |
| May 30, 2023 | $0.028 | OrdinaryDividend |
| Apr 27, 2023 | $0.024 | OrdinaryDividend |
| Mar 30, 2023 | $0.030 | OrdinaryDividend |
| Feb 27, 2023 | $0.023 | OrdinaryDividend |
| Jan 30, 2023 | $0.026 | OrdinaryDividend |
| Dec 29, 2022 | $0.029 | OrdinaryDividend |
| Dec 05, 2022 | $0.014 | CapitalGainShortTerm |
| Nov 29, 2022 | $0.025 | OrdinaryDividend |
| Oct 28, 2022 | $0.025 | OrdinaryDividend |
| Sep 29, 2022 | $0.027 | OrdinaryDividend |
| Aug 30, 2022 | $0.026 | OrdinaryDividend |
| Jul 28, 2022 | $0.031 | OrdinaryDividend |
| Jun 29, 2022 | $0.027 | OrdinaryDividend |
| May 27, 2022 | $0.026 | OrdinaryDividend |
| Apr 28, 2022 | $0.026 | OrdinaryDividend |
| Mar 30, 2022 | $0.026 | OrdinaryDividend |
| Feb 25, 2022 | $0.023 | OrdinaryDividend |
| Jan 28, 2022 | $0.024 | OrdinaryDividend |
| Dec 30, 2021 | $0.027 | OrdinaryDividend |
| Dec 08, 2021 | $0.005 | CapitalGainShortTerm |
| Nov 29, 2021 | $0.024 | OrdinaryDividend |
| Oct 28, 2021 | $0.025 | OrdinaryDividend |
| Sep 29, 2021 | $0.022 | OrdinaryDividend |
| Aug 30, 2021 | $0.023 | OrdinaryDividend |
| Jul 29, 2021 | $0.024 | OrdinaryDividend |
| Jun 29, 2021 | $0.023 | OrdinaryDividend |
| May 27, 2021 | $0.022 | OrdinaryDividend |
| Apr 29, 2021 | $0.024 | OrdinaryDividend |
| Mar 30, 2021 | $0.024 | OrdinaryDividend |
| Feb 25, 2021 | $0.021 | OrdinaryDividend |
| Jan 28, 2021 | $0.022 | OrdinaryDividend |
| Dec 30, 2020 | $0.026 | OrdinaryDividend |
| Dec 08, 2020 | $0.002 | CapitalGainLongTerm |
| Nov 27, 2020 | $0.021 | OrdinaryDividend |
| Oct 29, 2020 | $0.024 | OrdinaryDividend |
| Sep 29, 2020 | $0.025 | OrdinaryDividend |
| Aug 28, 2020 | $0.024 | OrdinaryDividend |
| May 28, 2020 | $0.024 | OrdinaryDividend |
| Apr 29, 2020 | $0.025 | OrdinaryDividend |
| Dec 30, 2019 | $0.029 | OrdinaryDividend |
| Dec 09, 2019 | $0.012 | CapitalGainShortTerm |
| Dec 09, 2019 | $0.015 | CapitalGainLongTerm |
| Nov 27, 2019 | $0.026 | OrdinaryDividend |
| Oct 30, 2019 | $0.026 | OrdinaryDividend |
| Sep 27, 2019 | $0.024 | OrdinaryDividend |
| Aug 29, 2019 | $0.028 | OrdinaryDividend |
| Jul 30, 2019 | $0.026 | OrdinaryDividend |
| Dec 07, 2018 | $0.001 | CapitalGainShortTerm |
TFHAX - Fund Manager Analysis
Managers
James Murphy
Start Date
Tenure
Tenure Rank
Jul 24, 2014
7.86
7.9%
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 |
|---|---|---|---|
| 0.25 | 21.43 | 7.56 | 2.52 |
