T. Rowe Price NY Tax-Free Bond

Frequently Asked Questions About PRNYX

What does PRNYX invest in?

The fund invests so that, under normal market conditions, at least 80% of its net assets (including any borrowings for investment purposes) are invested in bonds that pay interest exempt from federal, New York state, and New York City income taxes, and at least 80% of the fund's income is expected to be exempt from federal, New York state, and New York City income taxes.

What is the expense ratio of PRNYX?

T. Rowe Price NY Tax-Free Bond (PRNYX) charges an expense ratio of 0.53%. This is the annual fee deducted from fund assets to cover management and operations.

What is PRNYX's dividend yield?

PRNYX's trailing-twelve-month yield is 3.84%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PRNYX?

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

What is the credit quality of PRNYX?

PRNYX'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 PRNYX?

Yield to maturity (YTM) is the total return you'd earn from PRNYX if every bond in the portfolio is held to maturity at the current price. PRNYX'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.