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Morningstar

T. Rowe Price Tax-Free High Yield PRFHX

Morningstar Analyst Rating
Analyst rating as of
NAV / 1-Day Return
10.66  /  0.29 %
Total Assets
3.9 Bil
Adj. Expense Ratio
0.630%
Expense Ratio
0.630%
Fee Level
Above Average
Longest Manager Tenure
21.86 years
Category
High Yield Muni
Credit Quality / Interest Rate Sensitivity
—
Min. Initial Investment
2,500
Status
Open
TTM Yield
3.85%
Effective Duration
7.52 years

USD | NAV as of Nov 29, 2022 | 1-Day Return as of Nov 29, 2022, 10:36 PM GMT+00:00

Morningstar’s Fund Analysis PRFHX

Will PRFHX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PRFHX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PRFHX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PRFHX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A strong choice among the high-yield municipal bond cohort.

Associate Director

Summary

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Experienced managers ply a compelling and repeatable process at T. Rowe Price Tax-Free High Yield that employs bottom-up research and robust analytical tools. This supports a Morningstar Analyst Rating of Gold for the strategy’s cheapest share classes and Silver for the strategy’s advisor shares.

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