T. Rowe Price Short-Intermediate Municipal Bond Fund

Frequently Asked Questions About PRFSX

What does PRFSX invest in?

This fund aims to deliver a high level of income free from federal income taxes, prioritizing modest price fluctuations. It primarily invests in high-quality municipal bonds with short to intermediate maturities. Specifically, the portfolio is concentrated in municipal securities maturing in under three years (short-term) and those with maturities ranging from three to ten years (intermediate-term). Typically, the fund's weighted average maturity falls between two and five years, and it is not expected to surpass five years.

What is the expense ratio of PRFSX?

T. Rowe Price Short-Intermediate Municipal Bond Fund (PRFSX) charges an expense ratio of 0.39%. This is the annual fee deducted from fund assets to cover management and operations.

What is PRFSX's dividend yield?

PRFSX's trailing-twelve-month yield is 3.04%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PRFSX?

Effective duration measures PRFSX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PRFSX's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of PRFSX?

PRFSX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of PRFSX?

Yield to maturity (YTM) is the total return you'd earn from PRFSX if every bond in the portfolio is held to maturity at the current price. PRFSX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.