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.
Investor Profile
Investors whose income tax level enables them to benefit from tax-exempt income. Not appropriate for tax-deferred retirement plans, such as IRAs. Some income may be subject to state and local taxes and the federal alternative minimum tax.
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.
*Funds are placed in general risk/return categories based on their past performance or, for newer funds, the performance of the types of securities in which they invest. There is no assurance past trends will continue.
See Glossary for additional details on all data elements.