T. Rowe Price Tax-Free High Yield Adv (PATFX)

NASDAQ · Mutual Fund · Delayed Price · Currency is USD
10.79
+0.04 (0.37%)
Sep 4, 2025, 4:00 PM EDT
0.37%
Fund Assets3.22B
Expense Ratio0.97%
Min. Investment$500,000
Turnover14.20%
Dividend (ttm)0.40
Dividend Yield3.75%
Dividend Growth7.86%
Payout FrequencyMonthly
Ex-Dividend DateAug 29, 2025
Previous Close10.75
YTD Return-2.93%
1-Year Return-3.08%
5-Year Return1.60%
52-Week Low10.50
52-Week High11.49
Beta (5Y)0.32
Holdings995
Inception DateAug 8, 2012

About PATFX

T. Rowe Price Tax-Free High Yield Fund Advisor Class is a mutual fund specializing in municipal bonds, with a primary objective of delivering a high level of current income that is exempt from federal income tax. The fund invests predominantly in long-term, lower to upper-medium quality municipal securities, targeting higher yields through exposure to securities rated below investment grade, often referred to as high-yield or "junk" bonds. This approach makes the fund notably relevant for investors seeking tax-advantaged income, particularly those in higher tax brackets. The fund employs an active management strategy, leveraging in-depth fundamental credit research, sector allocation, and risk diversification to identify attractive opportunities across the municipal market. The portfolio is diversified, typically holding over 1,000 different municipal securities, with some sector concentration at times in areas such as health care, transportation, and utilities. The fund’s duration is managed with a medium- to long-term outlook, adapting to changing interest rates and sector trends to balance return and risk. With a long-standing track record since its 2012 inception and substantial assets under management, T. Rowe Price Tax-Free High Yield Fund Advisor Class plays a significant role in offering access to higher-yielding municipal debt, providing taxable-equivalent return potential for income-focused investors.

Fund Family T. Rowe Price
Category High Yield Muni
Stock Exchange NASDAQ
Ticker Symbol PATFX
Share Class -advisor Class
Index Index is not available on Lipper Database

Performance

PATFX had a total return of -3.08% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.42%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

SymbolShare ClassExpense Ratio
PTYIX-i Class0.50%

Top 10 Holdings

9.65% of assets
NameSymbolWeight
PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%PR.PRCGEN 0 07.01.20461.90%
BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%OH.BUCGEN 5 06.01.20551.82%
PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%PR.PRCGEN 5 07.01.20581.07%
METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV 0%IL.MPNFAC 0 12.15.20331.00%
GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0%CA.GLDGEN 0 06.01.20660.87%
MARYLAND ST ECONOMIC DEV CORP PRIVATE ACTIVITY REV 5.25%MD.MDSDEV 5.25 06.30.20550.80%
PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5%n/a0.58%
TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP REV 5.5%TX.TXSTRN 5.5 12.31.20580.57%
TUSCALOOSA CNTY ALA INDL DEV GULF OPPORTUNITY ZONE 5.25%AL.TUSDEV 5.25 05.01.20440.53%
PUERTO RICO COMWLTH 0.00001%PR.PRC 11.01.20510.52%
View More Holdings

Dividend History

Ex-DividendAmountPay Date
Aug 29, 2025$0.03871Aug 29, 2025
Jul 31, 2025$0.03475Jul 31, 2025
Jun 30, 2025$0.03191Jun 30, 2025
May 30, 2025$0.03509May 30, 2025
Apr 30, 2025$0.03334Apr 30, 2025
Mar 31, 2025$0.03201Mar 31, 2025
Full Dividend History