T. Rowe Price Tax-Free High Yield Fund (PRFHX)
Ticker Symbol:
PRFHX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Composition
Asset Allocation
as of 09/30/2014
Volatility and Other Measures
as of 11/30/2014
Beta 1.17
0.96
Standard Deviation 5.34
Credit Quality Diversification1
as of 09/30/2014
% of Total Net Assets
AAA 3.3%
AA 4.4%
A 22.3%
BBB 35.9%
BB 8.6%
B 6.1%
CCC 1.1%
C 0.0%
D 0.3%
Not Rated 18.1%
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 11/30/2014
5.29 years
Weighted Avg. Maturity
as of 12/16/2014
20.57 years
10 Largest Holdings
Represents 8.50 % of Total Net Assets
View Holdings as of:
Coupon % Maturity
American Airlines
CALIFORNIA ST 5.000 08/01/2035
GOLDEN ST TOB SR SER A1 4.500 06/01/2027
MET PIER & EXPOS AUTH MCCORMICK B2 5.250 06/15/2050
NY LIBERTY DEV 2ND PRIORTY BK AMER CL-3 6.375 07/15/2049
NY ST LIBERTY DEV CORP 4 WTC PRJ 5.750 11/15/2051
PUB AUTH FOR CO ENERGY 6.500 11/15/2038
ST JOHN BAPTIST MARATHON OIL A 5.125 06/01/2037
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 09/30/2014 the Tax-Free High Yield Fund had a total of 585 holdings.
Bond Maturity Diversification2
  as of 11/30/2014
% of Total Net Assets
0 - 1 YRS 4.6%
1 - 5 YRS 3.5%
5 - 10 YRS 4.5%
10 + YRS 87.4%
2Total may not equal 100% due to rounding.
Sector Diversification
as of 11/30/2014
% of Total Net Assets
Tax-Free Revenue 92.3%
Tax-Free Gen. Obligations 1.9%
Tax-Free US Government 1.9%
See Glossary for additional details on all data elements.