About PRTAX
T. Rowe Price Tax-Free Income Fund is a mutual fund that primarily targets high levels of income exempt from U.S. federal income taxes by investing in long-term, investment-grade municipal securities. The fund’s strategy focuses on holding a broadly diversified portfolio, both geographically and across sectors, with a notable emphasis on high-quality municipal bonds and a weighted average maturity exceeding 15 years. While it may allocate up to 10% of assets to below investment-grade bonds, the fund’s core holdings are investment-grade, aiming to mitigate credit risk. Notably, the fund generally avoids bonds subject to the federal alternative minimum tax. Income from the fund is distributed monthly, with at least 80% typically exempt from federal taxes, and capital gains, if any, may be taxable. The fund’s holdings often span sectors such as healthcare, transportation, utilities, and infrastructure. Managed by a seasoned team, the T. Rowe Price Tax-Free Income Fund serves as a tool for investors seeking federally tax-free income through exposure to the municipal bond market, contributing liquidity and stability to the broader tax-exempt investment landscape.
Fund Family T. Rowe Price
Category Muni National Long
Performance Rating Above Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol PRTAX
Index Bloomberg Municipal Bond TR
PRTAX had a total return of -2.80% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.47%.
