Morningstar

T. Rowe Price High Yield Municipal Bond Fund I Class PTYIX

Morningstar Medalist Rating
Medalist Rating as of | See T. Rowe Price Investment Hub
  • NAV / 1-Day Return 10.53  /  −0.10 %
  • Total Assets 3.5B
  • Adj. Expense Ratio
    0.500%
  • Expense Ratio 0.510%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 500,000
  • Status Open
  • TTM Yield 4.53%
  • Effective Duration 7.72 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 10:48 PM GMT+0

Morningstar’s Analysis PTYIX

Will PTYIX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PTYIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PTYIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PTYIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A compelling and repeatable approach to the high-yield muni market.

Associate Director Elizabeth Foos

Elizabeth Foos

Associate Director

Summary

T. Rowe Price Tax-Free High Yield’s thoughtful, collaborative, and repeatable approach has led to solid long-term results.

by Elizabeth Foos
Rated on Published on

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Portfolio Holdings PTYIX

More PTYIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 8.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%

1.70 60M
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%

1.69 60M
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%

1.09 39M
municipal

METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV 0%

1.00 35M
municipal

PUERTO RICO COMWLTH 0.00001%

0.60 21M
municipal

TOBACCO SETTLEMENT FING CORP N J 5%

0.59 21M
municipal

GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0%

0.54 19M
municipal

PUERTO RICO COMWLTH 0.00001%

0.51 18M
municipal

CALIFORNIA CMNTY HSG AGY ESSENTIAL HSG REV 4%

0.51 18M
municipal

PUBLIC FIN AUTH WIS TOLL REV 5.75%

0.50 18M
municipal

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