T. Rowe Price Tax-Free High Yield is managed by an experienced muni team. Thorough bottom-up research, rational and repeatable portfolio construction, and robust analytical tools support a Morningstar Analyst Rating of Gold for the strategy’s cheapest share classes and Silver for the strategy’s Advisor shares.
Morningstar’s Fund Analysis PRFHX
Will PRFHX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
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.
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.
The Parent Pillar is our rating of PRFHX’s parent organization’s priorities and whether they’re in line with investors’ interests.