T. Rowe Price Tax-Free Income Fund (PRTAX)
Ticker Symbol:
PRTAX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  February
Morningstar Category  Muni National Long
Inception Date 10/26/1976
Tax ID 52-1067817
Investment Objective
The fund's objective is to seek a high level of income exempt from federal income taxes by investing primarily in long-term, investment-grade municipal securities.
Strategy
Invests primarily in long-term, investment-grade municipal securities; the fundís weighted average maturity is expected to exceed 10 years.
Availability
All States
Risk/Reward Potential*
Click on the risk/reward spectrum below to view the funds in that category
Highest
Higher
Moderate
Lower
Lowest
Moderately aggressive investors have the opportunity for an attractive level of federal tax-free income through this investment-grade bond fund. The fundís focus on longer-term bonds means it offers higher income potential than shorter-term, federal tax-free funds but with greater price volatility.

Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also a chance that one of the fundís holdings will have its credit rating downgraded or will default.
* 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.