T. Rowe Price Tax-Free Short-Intermediate Fund (PRFSX)
Ticker Symbol:
PRFSX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  February
Morningstar Category  Muni National Short
Inception Date 12/23/1983
Tax ID 52-1316470
Investment Objective
The fund's objective is to seek a high level of income exempt from federal income taxes consistent with modest price fluctuation by investing primarily in short- and intermediate-term investment-grade municipal securities.
Strategy
Invests primarily in short-and intermediate-term municipal securities. Its weighted average maturity normally ranges from two to five years and is not expected to exceed five years. The fund generally buys investment-grade securities.
Availability
All States
Risk/Reward Potential*
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Highest
Higher
Moderate
Lower
Lowest
By investing primarily in short- and intermediate-term municipal securities, this fund offers a higher yield than short-term bond funds but lower yield than longer-term funds. This gives it a moderate risk/reward profile. Dividends from the fund are exempt from federal income tax.

Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also credit risk that the fund seeks to control by investing primarily in municipal securities in the four highest credit categories.
* Annually we evaluate the standard deviation of each US mutual fund listed and its resulting placement within specific risk/return categories.

Methodology: If a fund is at least 5 year old, it is generally placed in risk/return categories based on the standard deviation of its performance for the longest period of its calendar year returns; the longest time period used for analysis is 10 years (regardless of the fund's inception). If a fund is less than 5 years old, we generally use the fund's primary benchmark disclosed in its prospectus as a proxy and follow the same process of using 10-year standard deviation of the benchmark, or longest time period available. The firm at its sole discretion may show a fund in a higher risk category based on qualitative or other factors that may differ from this methodology.
See Glossary for additional details on all data elements.