T. Rowe Price Tax Free High Yield Fund (PRFHX) Alternatives

T. Rowe Price Tax Free High Yield Fund (PRFHX) belongs to the High Yield Muni category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with PRFHX. Use the tables to find lower-cost options, better risk-adjusted returns, or funds that fit a different role in your portfolio.

Cheapest Alternatives to PRFHX

PRFHX charges 0.63% annually. Among mutual funds in the High Yield Muni category, these options have the lowest expense ratios among PRFHX alternatives.

Symbol	Name	Expense Ratio	Inception
BATEX	BlackRock Allocation Target Shares Series E Portfo...	0.11%	Aug 3, 2014	PRFHX vs BATEX
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	0.18%	May 9, 2007	PRFHX vs EWHYX
HIMFX	American High-Income Municipal Bond Fund Class F-3	0.31%	Jan 27, 2017	PRFHX vs HIMFX
AHMFX	American High-Income Municipal Bond Fund Class F-2	0.42%	Aug 1, 2008	PRFHX vs AHMFX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	0.50%	Jun 14, 2015	PRFHX vs SDHIX

Best Risk-Adjusted Alternatives to PRFHX

Among mutual funds in the High Yield Muni category, these options rank highest on PortfoliosLab's risk-adjusted score, which accounts for volatility, drawdown, and return consistency over a 1-year period.

Symbol	Name	Risk / Return Rank	Inception
TMNIX	Counterpoint Tactical Municipal Fund	83	Jun 10, 2018	PRFHX vs TMNIX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	70	Jun 14, 2015	PRFHX vs SDHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	54	Sep 29, 2015	PRFHX vs ISHYX
MISHX	AB Municipal Income Shares	43	Aug 31, 2010	PRFHX vs MISHX
AHMFX	American High-Income Municipal Bond Fund Class F-2	39	Aug 1, 2008	PRFHX vs AHMFX

Top Performing PRFHX Alternatives (YTD)

PRFHX alternatives from the High Yield Muni category, sorted by year-to-date return.

Symbol	Name	YTD Return	Inception
NMZ	Nuveen Municipal High Income Opportunity Fund	3.79%	Nov 19, 2003	PRFHX vs NMZ
ISHYX	Invesco Short Duration High Yield Municipal Fund	0.13%	Sep 29, 2015	PRFHX vs ISHYX
RWMIX	Redwood Managed Municipal Income Fund	0.01%	Mar 8, 2017	PRFHX vs RWMIX
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	0.00%	May 9, 2007	PRFHX vs EWHYX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	-0.04%	Jan 31, 2013	PRFHX vs NVHIX

Lowest Volatility Alternatives to PRFHX

PRFHX alternatives from the High Yield Muni category, sorted by annualized volatility over the past year.

Symbol	Name	Volatility 1Y	Inception
TMNIX	Counterpoint Tactical Municipal Fund	2.35%	Jun 10, 2018	PRFHX vs TMNIX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	3.46%	Jun 14, 2015	PRFHX vs SDHIX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	3.77%	Jan 31, 2013	PRFHX vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	3.83%	Sep 29, 2015	PRFHX vs ISHYX
RWMIX	Redwood Managed Municipal Income Fund	3.89%	Mar 8, 2017	PRFHX vs RWMIX

Lowest Drawdown Alternatives to PRFHX

PRFHX alternatives from the High Yield Muni category, sorted by maximum drawdown over the past year.

Symbol	Name	Max Drawdown 1Y	Inception
TMNIX	Counterpoint Tactical Municipal Fund	-2.21%	Jun 10, 2018	PRFHX vs TMNIX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	-3.22%	Jun 14, 2015	PRFHX vs SDHIX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	-3.63%	Jan 31, 2013	PRFHX vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	-3.79%	Sep 29, 2015	PRFHX vs ISHYX
AHYMX	abrdn Short Duration High Yield Municipal Fund	-3.81%	May 30, 2013	PRFHX vs AHYMX

Other Mutual Funds from T. Rowe Price

Most popular T. Rowe Price mutual funds on PortfoliosLab, across asset classes.

Symbol	Name	Category	Risk / Return Rank	YTD Return	Inception
TRBCX	T. Rowe Price Blue Chip Growth Fund	Large Cap Growth Equities	20	-14.57%	Jun 30, 1993	PRFHX vs TRBCX
PRWCX	T. Rowe Price Capital Appreciation Fund	Diversified Portfolio	78	-5.03%	Jun 30, 1986	PRFHX vs PRWCX
PRDGX	T. Rowe Price Dividend Growth Fund, Inc.	Large Cap Blend Equities, Dividend	33	-2.47%	Dec 30, 1992	PRFHX vs PRDGX
PRWAX	T. Rowe Price All-Cap Opportunities Fund	Large Cap Growth Equities	45	-12.37%	Sep 30, 1985	PRFHX vs PRWAX
PRCOX	T. Rowe Price U.S. Equity Research Fund	Large Cap Blend Equities	42	-7.21%	Nov 30, 1994	PRFHX vs PRCOX
PREIX	T. Rowe Price Equity Index 500 Fund	Large Cap Blend Equities	52	-7.11%	Mar 30, 1990	PRFHX vs PREIX
TBCIX	T. Rowe Price Blue Chip Growth Fund I Class	Large Cap Growth Equities	21	-14.54%	—	PRFHX vs TBCIX
TRLGX	T. Rowe Price Large-Cap Growth Fund	Large Cap Growth Equities	15	-14.83%	Oct 31, 2001	PRFHX vs TRLGX
PRSCX	T. Rowe Price Science And Technology Fund	Technology Equities	65	-11.17%	Sep 29, 1987	PRFHX vs PRSCX
PRNHX	T. Rowe Price New Horizons Fund	Mid Cap Growth Equities	16	-5.34%	Jun 3, 1960	PRFHX vs PRNHX

Often Compared With PRFHX

What investors most often compare with PRFHX, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	Inception
PRXCX	T. Rowe Price California Tax Free Bond Fund	Municipal Bonds	62	-0.18%	Sep 14, 1986	PRFHX vs PRXCX
FTABX	Fidelity Tax-Free Bond Fund	Municipal Bonds	56	-0.77%	Apr 10, 2001	PRFHX vs FTABX
AMHIX	American High-Income Municipal Bond Fund	High Yield Muni	38	-0.51%	Sep 25, 1994	PRFHX vs AMHIX
FXIEX	PIMCO Fixed Income SHares: Series TE	Municipal Bonds	28	-0.72%	Jun 24, 2012	PRFHX vs FXIEX
STLG	iShares Factors US Growth Style ETF	Large Cap Growth Equities	67	-6.01%	Jan 14, 2020	PRFHX vs STLG
VTEB	Vanguard Tax-Exempt Bond ETF	Municipal Bonds	54	-0.23%	Aug 21, 2015	PRFHX vs VTEB
VOO	Vanguard S&P 500 ETF	S&P 500	65	-4.42%	Sep 7, 2010	PRFHX vs VOO
PIMIX	PIMCO Income Fund Institutional Class	Total Bond Market	81	-1.36%	Mar 30, 2007	PRFHX vs PIMIX
VCADX	Vanguard California Intermediate-Term Tax-Exempt F...	Municipal Bonds	74	-0.70%	Nov 12, 2001	PRFHX vs VCADX
VONE	Vanguard Russell 1000 ETF	Large Cap Blend Equities	64	-4.22%	Sep 20, 2010	PRFHX vs VONE
TRRIX	T. Rowe Price Retirement Balanced Fund	Diversified Portfolio	73	-1.64%	Sep 30, 2002	PRFHX vs TRRIX
JHTFX	John Hancock High Yield Municipal Bond Fund	High Yield Muni	10	-0.94%	Dec 30, 1993	PRFHX vs JHTFX
MMHVX	MainStay MacKay High Yield Municipal Bond Fund	High Yield Muni	25	-0.65%	Mar 30, 2010	PRFHX vs MMHVX
ABHYX	American Century High-Yield Municipal Fund	High Yield Muni	27	-0.65%	Mar 30, 1998	PRFHX vs ABHYX
GWMEX	AMG GW&K Municipal Enhanced Yield Fund	High Yield Muni	12	-1.47%	Dec 29, 2005	PRFHX vs GWMEX
NHMFX	Nuveen High Yield Municipal Bond Fund Class R6	High Yield Muni	15	-0.74%	Jun 30, 2016	PRFHX vs NHMFX
FDUAX	First Eagle Short Duration High Yield Municipal Fu...	High Yield Muni	4	-0.44%	Feb 2, 2024	PRFHX vs FDUAX
GHYIX	Goldman Sachs High Yield Municipal Fund Institutio...	High Yield Muni	18	-0.69%	Apr 3, 2000	PRFHX vs GHYIX
MMHYX	MFS Municipal High Income Fund	High Yield Muni	33	-0.51%	Feb 23, 1984	PRFHX vs MMHYX
NHMRX	Nuveen High Yield Municipal Bond Fund	High Yield Muni	15	-0.75%	Jun 6, 1999	PRFHX vs NHMRX

Compare PRFHX with Any Fund or Stock

Compare PRFHX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

Symbol name

T. Rowe Price Tax Free High Yield Fund

Symbol name