T. Rowe Price Intermediate Municipal Bond Fund I Class

Frequently Asked Questions About PRTMX

What does PRTMX invest in?

The fund will normally invest at least 90% of its total assets in investment-grade municipal securities (rated in one of the four highest rating categories assigned by established credit rating agencies) by at least one credit rating agency or, if unrated, deemed by T. Rowe Price to be of comparable quality. The fund may invest up to 10% of the fund's total assets in below investment-grade bonds, known as "junk" bonds, including those with the lowest credit ratings.

What is the expense ratio of PRTMX?

T. Rowe Price Intermediate Municipal Bond Fund I Class (PRTMX) charges an expense ratio of 0.29%. This is the annual fee deducted from fund assets to cover management and operations.

What is PRTMX's dividend yield?

PRTMX's trailing-twelve-month yield is 3.46%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PRTMX?

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

What is the credit quality of PRTMX?

PRTMX'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 PRTMX?

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