About PRFSX
T. Rowe Price Tax-Free Short-Intermediate Fund is a mutual fund designed to deliver a high level of income exempt from federal income taxes while maintaining modest price fluctuations. It primarily invests in short- and intermediate-term investment-grade municipal securities, with maturities typically under three years for short-term and between three and ten years for intermediate-term bonds. The fund's weighted average maturity normally ranges from two to five years, emphasizing lower interest rate risk through a modified duration of approximately 2.65 years. Managed by T. Rowe Price since its inception on December 23, 1983, it employs active strategies based on in-depth fundamental research across municipal sectors like transportation, health care, and state general obligations, aiming for higher yields with diversification and risk controls. With total assets exceeding $1.38 billion, a competitive expense ratio of 0.38%, and a portfolio turnover of around 31%, the fund holds high-quality credits predominantly rated AA and A. It plays a key role in the municipal bond market by offering tax-efficient income solutions for investors seeking stability in short-intermediate durations.
Fund Family T. Rowe Price
Category Muni National Short
Performance Rating Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol PRFSX
Index Bloomberg 1-5 Y Muni Blend (1-6) TR USD
PRFSX had a total return of 1.98% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.83%.
