T. Rowe Price High Yield Municipal Bond Fund PRFHX

Medalist Rating as of Apr 27, 2026 See T. Rowe Price Investment Hub

NAV and 1-Day Return as of Nov 11, 2026, 1:11:06 AM

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 PRFHX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the PRFHX 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 PRFHX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Elizabeth Foos

Associate Director

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 Apr 27, 2026 Published on Apr 27, 2026

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Portfolio Holdings PRFHX

Top 10 Holdings	% Portfolio Weight	Market Value USD	Sector
PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%	1.60	56M	municipal
BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%	1.60	56M	municipal
PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%	1.06	37M	municipal
METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV 0%	0.95	33M	municipal
PUERTO RICO COMWLTH 0.00001%	0.58	20M	municipal
TOBACCO SETTLEMENT FING CORP N J 5%	0.58	20M	municipal
PUERTO RICO COMWLTH 0.00001%	0.51	18M	municipal
PUERTO RICO COMWLTH 0.00001%	0.49	17M	municipal
CALIFORNIA CMNTY HSG AGY ESSENTIAL HSG REV 4%	0.48	17M	municipal
PUBLIC FIN AUTH WIS TOLL REV 5.75%	0.48	17M	municipal