T. Rowe Price Summit Municipal Income Fund (PRINX)
Ticker Symbol:
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Performance
Quick Stats
Current NAV as of 03/19/2019 $11.77
NAV Change $0.00
Net Assets as of 02/28/2019 $2,018.77 Million
Daily YTD Return as of 03/19/2019 1.78%
Three Month Return as of 02/28/2019 2.06%
Gross Expense Ratio^ * 0.53%
Net Expense Ratio^ * 0.50%
Waiver Type Contractual
Limitation Expires N/A
Historical Prices
Select Range: 1Yr | 3 Yrs | 5 Yrs | 10 Yrs Since Inception
Monthly High   $11.72   02/26/2019
Monthly Low   $11.67   02/04/2019
Month End   $11.71   02/28/2019
YTD High   $11.77   03/19/2019
YTD Low   $11.64   01/29/2019
2018 Year High $11.96 01/01/2018
2018 Year Low $11.46 11/05/2018
2017 Year High $12.01 09/08/2017
2017 Year Low $11.61 03/13/2017
2016 Year High $12.42 07/06/2016
2016 Year Low $11.52 12/01/2016
Average Annual Total Returns and Benchmarks
as of 12/31/2018
Distribution Schedule
Dividends Monthly
Capital Gains* Annual
*If applicable.
Distribution History

Per Share Amount

Reinvestment Price
11-30-2018 $0.0316 $11.56
12-31-2018 $0.0298 $11.64
01-31-2019 $0.0296 $11.68
02-28-2019 $0.0279 $11.71
Distribution amounts are rounded to the nearest cent. Shareholders should refer to their statements for exact distribution amounts.
Capital Gains

Per Share
Per Share

12-08-2015 $0.0007 $0.00 $11.93
12-08-2016 $0.0007 $0.00 $11.66
12-08-2017 $0.0012 $0.00 $12.00
12-10-2018 $0.0006 $0.00 $11.61
Alternative Minimum Tax*
as of 02/28/2019
Percentage of Fund Income subject to the Alternative Minimum Tax 18.93%
*Alternative minimum tax (AMT) percentage provided here represents the fund's estimate of income subject to the AMT as of the date indicated. This percentage is subject to change throughout the year and does not necessarily indicate the final amount of income that will be subject to AMT. The current AMT percentage should not be used for tax return preparation or other tax filings. T. Rowe Price will provide fund account holders with a final AMT percentage in January.
Performance Comparison
as of 02/28/2019
This chart shows the value of a hypothetical $25,000 investment in the fund over the past 10 years or since its inception (for funds lacking 10-year records) compared with its benchmark. Lipper averages consist of all the mutual funds in a particular category; Lipper indexes consist of a small number (10 or 30) of the largest funds in a category.
*Summit funds require a $25,000 Minimum Investment.
30-Day Yield1
Annualized Dividend as of 03/19/2019 3.04%
SEC Standardized w/ Waiver as of 02/28/2019 2.59%
SEC Standardized w/o Waiver as of 02/28/2019 2.59%
Average Annual Total Returns2 ,3
  Month End
Quarter End
1 Year 2.94% 0.39%
3 Years 2.21% 2.21%
5 Years 3.74% 4.27%
10 Years 5.32% 5.77%
Since Inception 5.12% 5.11%
Inception Date October 29, 1993
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, yield and return will vary and you may have a gain or loss when you sell your shares.
Calendar Year Total Returns
2009 18.70%
2010 2.37%
2011 10.62%
2012 9.86%
2013 -3.74%
2014 11.56%
2015 3.49%
2016 0.41%
2017 5.93%
2018 0.39%
Share Splits
as of 02/28/2019
Split Type N/A
Effective Date N/A
Pre-Split NAV N/A
Post-Split NAV N/A
1 The 30-day dividend yield represents the average daily dividends for the 30-day period, annualized and divided by the net asset values per share at the end of the period; it is available the first quarter after the fund's inception. The SEC standardized yield is computed under an SEC standardized formula and reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity); it is available the first month after the fund's inception.
2 Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions. For funds less than one year old, the Since Inception return figure is not annualized and represents an aggregate total return.
^ The gross expense ratio reflects the fund expenses as stated in the fee table of the fund's prospectus prior to the deduction of any waiver or reimbursement. The net expense ratio reflects fund expenses after the deduction of any waiver or reimbursement. If a fund has an active contractual expense limitation, the expiration date is shown below the gross and net expense ratio values above. Expense ratios are as of the most recent prospectus.
* T. Rowe Price Associates, Inc., has contractually agreed to permanently waive any expenses that would cause the class' ratio of expenses to average daily net assets to exceed the net expense ratio listed above. This waiver may only be terminated by approval of the fund's shareholders. Fees waived and expenses paid under the fund's contractual expense limitation arrangement are subject to reimbursement to T. Rowe Price Associates by the fund whenever the fund's expense ratio is below a certain level. See the prospectus for details.
See Glossary for additional details on all data elements.