T. Rowe Price Tax Free Income Fund (PRTAX)
Normally, at least 80% of the fund's income will be exempt from federal income taxes. Although the fund may purchase securities of any maturity, the fund generally seeks longer-term municipal securities. Most investments are in investment-grade securities, which are securities rated in one of the four highest credit rating categories by at least one major credit rating agency or, if unrated, deemed to be of comparable quality by T. Rowe Price.
Fund Info
| ISIN | US7795761078 |
|---|---|
| CUSIP | 779576107 |
| Issuer | T. Rowe Price |
| Inception Date | Oct 25, 1976 |
| Category | Municipal Bonds |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
PRTAX features an expense ratio of 0.53%, falling within the medium range.
Share Price Chart
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Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Popular comparisons: PRTAX vs. PRINX, PRTAX vs. ABHYX, PRTAX vs. VWAHX, PRTAX vs. FFRHX, PRTAX vs. FTABX, PRTAX vs. FHIGX, PRTAX vs. VTEB
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Tax Free Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
T. Rowe Price Tax Free Income Fund had a return of 2.59% year-to-date (YTD) and 9.13% in the last 12 months. Over the past 10 years, T. Rowe Price Tax Free Income Fund had an annualized return of 2.39%, while the S&P 500 had an annualized return of 11.43%, indicating that T. Rowe Price Tax Free Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.59% | 25.82% |
| 1 month | -0.34% | 3.20% |
| 6 months | 2.56% | 14.94% |
| 1 year | 9.13% | 35.92% |
| 5 years (annualized) | 1.48% | 14.22% |
| 10 years (annualized) | 2.39% | 11.43% |
Monthly Returns
The table below presents the monthly returns of PRTAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.16% | 0.15% | 0.07% | -1.10% | 0.09% | 1.87% | 0.92% | 0.62% | 1.20% | -1.38% | 2.59% | ||
| 2023 | 2.98% | -2.12% | 1.81% | 0.13% | -0.59% | 0.81% | 0.25% | -1.24% | -2.79% | -1.64% | 6.84% | 2.77% | 7.02% |
| 2022 | -2.68% | -0.60% | -2.95% | -2.93% | 1.02% | -2.23% | 2.75% | -2.28% | -3.94% | -1.21% | 4.93% | -0.05% | -10.06% |
| 2021 | 0.77% | -1.71% | 0.80% | 1.09% | 0.68% | 0.49% | 0.87% | -0.37% | -0.85% | -0.09% | 0.96% | 0.21% | 2.85% |
| 2020 | 1.73% | 1.58% | -4.98% | -2.65% | 2.94% | 1.95% | 2.04% | -0.16% | 0.04% | -0.25% | 1.79% | 1.02% | 4.86% |
| 2019 | 0.50% | 0.48% | 1.61% | 0.48% | 1.40% | 0.35% | 0.67% | 1.76% | -0.72% | 0.07% | 0.17% | 0.26% | 7.24% |
| 2018 | -0.99% | -0.30% | 0.41% | -0.41% | 1.11% | 0.10% | 0.09% | 0.23% | -0.64% | -0.61% | 0.83% | 0.91% | 0.71% |
| 2017 | 0.39% | 0.62% | 0.23% | 0.59% | 1.40% | -0.16% | 0.58% | 0.69% | -0.17% | 0.19% | -0.29% | 1.00% | 5.16% |
| 2016 | 0.96% | 0.12% | 0.50% | 0.70% | 0.39% | 1.64% | -0.07% | 0.11% | -0.43% | -0.96% | -3.37% | 0.83% | 0.33% |
| 2015 | 1.85% | -1.01% | 0.39% | -0.64% | -0.26% | -0.16% | 0.82% | 0.20% | 0.42% | 0.42% | 0.40% | 0.74% | 3.17% |
| 2014 | 2.28% | 1.14% | 0.43% | 1.32% | 1.51% | -0.07% | 0.22% | 1.39% | 0.32% | 0.81% | 0.11% | 0.62% | 10.53% |
| 2013 | 0.69% | 0.41% | -0.63% | 1.08% | -1.29% | -3.52% | -1.28% | -1.60% | 2.30% | 0.74% | -0.17% | -0.07% | -3.40% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PRTAX is 57, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price Tax Free Income Fund (PRTAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
T. Rowe Price Tax Free Income Fund provided a 3.28% dividend yield over the last twelve months, with an annual payout of $0.31 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.29 | $0.28 | $0.25 | $0.30 | $0.34 | $0.36 | $0.37 | $0.38 | $0.39 | $0.40 | $0.40 |
Dividend yield | 3.28% | 3.03% | 3.03% | 2.42% | 2.85% | 3.28% | 3.61% | 3.63% | 3.80% | 3.79% | 3.82% | 4.02% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Tax Free Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.00 | $0.26 | |
| 2023 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.29 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.28 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2020 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.30 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.39 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.40 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.40 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Tax Free Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Tax Free Income Fund was 17.63%, occurring on Oct 19, 1987. Recovery took 444 trading sessions.
The current T. Rowe Price Tax Free Income Fund drawdown is 1.41%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.63% | Mar 9, 1987 | 161 | Oct 19, 1987 | 444 | Jun 30, 1989 | 605 |
| -14.98% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -11.7% | Jan 24, 2008 | 226 | Dec 15, 2008 | 99 | May 8, 2009 | 325 |
| -11.66% | Mar 10, 2020 | 9 | Mar 20, 2020 | 170 | Nov 19, 2020 | 179 |
| -10.93% | Feb 1, 1994 | 210 | Nov 21, 1994 | 95 | Apr 3, 1995 | 305 |
Volatility
Volatility Chart
The current T. Rowe Price Tax Free Income Fund volatility is 1.89%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.