T. Rowe Price Tax-Free High Yield Fund (PRFHX) Research
This fund aims to generate a substantial level of income that is exempt from federal income taxes. It achieves this primarily through investments in long-term municipal bonds with credit ratings ranging from lower to upper-medium grade. Typically, a minimum of 80% of the income distributed by the fund will qualify for federal tax exemption. However, investors should be aware that up to 20% of the income might be derived from securities subject to the Alternative Minimum Tax. The strategy generally involves seeking municipal bonds that offer higher yields, including those categorized as "non-investment grade" (rated BB or lower by a major credit rating firm or by T. Rowe Price), which are commonly known as "junk" bonds.
Market snapshot
- Symbol
- PRFHX
- Price
- $11.26
- Day change
- +0.09%
- Market cap
- $3.6B
- 52-week range
- 10.57-11.29
- Sector
- Financial Services
- Industry
- Asset Management - Bonds
Peer companies
- American Funds College 2036 Fund (CCFAX)
- Fidelity Advisor Health Care Fund (FHCIX)
- Fidelity Flex U.S. Bond Index Fund (FIBUX)
- Federated Hermes Kaufmann Small Cap Fund (FKKSX)
- Fidelity Short-Term Bond Index Fund (FNSOX)
- Fidelity Short-Term Treasury Bond Index Fund (FUMBX)
- Janus Henderson Contrarian Fund (JCNCX)
- MFS Conservative Allocation Fund (MACFX)
Open T. Rowe Price Tax-Free High Yield Fund (PRFHX) in Thesis for live fundamentals, charts, options context, and portfolio-aware Copilot follow-ups.