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

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Ticker Symbol:
PRFHX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Composition
Asset Allocation
as of 03/31/2016
Volatility and Other Measures
as of 03/31/2016
Beta 1.12
0.92
Standard Deviation 4.88
Credit Quality Diversification1
as of 03/31/2016
% of Total Net Assets
AAA 4.6%
AA 5.2%
A 25.1%
BBB 30.6%
BB 8.7%
B 5.8%
CCC 0.4%
CC 0.1%
D 0.1%
Not Rated 19.4%
1Sources: Moody's Investors Service; if Moody's does not rate a security, then Standard & Poor's (S&P) is used as a secondary source. When available, T. Rowe Price will use Fitch for securities that are not rated by Moody's or S&P. T. Rowe Price may deviate from this hierarchy for prerefunded securities, which are categorized using the most recent rating from Moody's, S&P, or Fitch when it reflects the issue's current prerefunded status.
Modified Duration to Worst
as of 03/31/2016
5.13 years
Weighted Avg. Maturity
as of 04/26/2016
20.24 years
Sector Diversification
as of 03/31/2016
% of Total Net Assets
Tax-Free Revenue 88.6%
Tax-Free US Government 4.8%
Tax-Free Gen. Obligations 1.9%
Miscellaneous 0.0%
10 Largest Holdings
Represents 7.91 % of Total Net Assets
View Holdings as of:
Coupon % Maturity
BUCKEYE OH TOB STLMT SR A-2 6.500 06/01/2047
CO HLTH FACS AUTH CATHOLIC HLTH SR A 5.250 01/01/2045
GOLDEN ST TOB SR SER A1 4.500 06/01/2027
IN ST FIN OH RVR BRDGS PRJ SR A AMT 5.250 01/01/2051
MET PIER & EXPOS AUTH MCCORMICK B2 5.250 06/15/2050
NY ST LIBERTY DEV CORP 4 WTC PRJ 5.750 11/15/2051
SALT VERDE AZ FNL CORP SNR GAS REV 5.000 12/01/2037
TOB SETTLE FING CORP NJ SER 1A 5.000 06/01/2041
TX MUN GAS ACQ & SUPPLY SR LIEN D 6.250 12/15/2026
VA ST SBFAR SR LN EXPRESS LANES LLC AMT 5.000 01/01/2040
As of 03/31/2016 the Tax-Free High Yield Fund had a total of 696 holdings.
Bond Maturity Diversification2
  as of 03/31/2016
% of Total Net Assets
0 - 1 YRS 4.7%
1 - 5 YRS 5.6%
5 - 10 YRS 5.7%
10 + YRS 84.0%
2Total may not equal 100% due to rounding.
See Glossary for additional details on all data elements.