About TRYIX
T. Rowe Price New York Tax-Free Bond Fund I Class is an open-end mutual fund specializing in municipal bonds, primarily focusing on investment-grade securities issued by New York State and its local entities. Its central purpose is to generate the highest possible income consistent with prudent risk management, with an emphasis on income that is exempt from federal, New York state, and New York City income taxes. This makes it particularly relevant for investors subject to these specific tax regimes.
The fund typically invests at least 80% of its assets in bonds that provide income free from these taxes, aiming to maximize after-tax returns. Holdings are diversified across sectors such as general obligation bonds, revenue bonds, and essential-service issuers like water, sewer, electric utilities, and leasing authorities. It maintains a long average maturity profile and a relatively low turnover rate, reflecting its buy-and-hold approach to high-quality municipal securities. As of June 2025, the fund managed over $417 million in assets and has a management expense ratio that is competitive within its category. Its key role in the market is to offer tax-efficient, stable income for residents of New York, utilizing T. Rowe Price’s disciplined municipal bond management and research expertise.
Fund Family T. Rowe Price
Category Muni New York Long
Performance Rating High
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol TRYIX
Share Class -i Class
Index Bloomberg Municipal Bond TR
TRYIX had a total return of -2.29% in the past year, including dividends. Since the fund's
inception, the average annual return has been 1.46%.
