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T. Rowe Price Summit Municipal Intermediate Fund
mutual fund
PRTMX
Payout Change
Pending
Price as of:
$11.26
+0.01
+0.09%
primary theme
Municipal Bond
share class
PRTMX (Mutual Fund)
T. Rowe Price Summit Municipal Intermediate Fund
Payout Change
Pending
Price as of:
$11.26
+0.01
+0.09%
primary theme
Municipal Bond
share class
PRTMX (Mutual Fund)
T. Rowe Price Summit Municipal Intermediate Fund
Payout Change
Pending
Price as of:
$11.26
+0.01
+0.09%
primary theme
Municipal Bond
share class
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
1.1%
1 yr return
1.4%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
0.8%
Net Assets
$4.44 B
Holdings in Top 10
7.0%
52 WEEK LOW AND HIGH
$11.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.29%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 6.60%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PRTMX - Profile
Distributions
- YTD Total Return 1.1%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 0.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.20%
- Dividend Yield 3.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameT. Rowe Price Summit Municipal Intermediate Fund
-
Fund Family NameTROWEPRICE
-
Inception DateMar 01, 2019
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCharles Hill
Fund Description
The fund normally invests at least 90% of its total assets in investment-grade municipal securities, which are securities rated in one of the four highest rating categories by at least one credit rating agency or, if unrated, deemed by the adviser to be of comparable quality. The fund may invest up to 10% of its total assets in below investment-grade bonds, known as “junk” bonds, including those with the lowest credit ratings.
Under normal conditions, the fund’s dollar-weighted average effective maturity will be three to ten years. There are no maturity limitations on individual securities.
Normally, at least 80% of the fund’s income will be exempt from federal income taxes. However, up to 20% of the fund’s income could be derived from securities subject to the alternative minimum tax.
Investment decisions generally reflect the portfolio manager’s outlook for interest rates and the economy, as well as the prices, yields, and credit quality of various securities in which the fund may invest.
From time to time, the fund may invest a significant portion of its assets in sectors with special risks, such as health care, transportation, utilities, or private activity bonds.
PRTMX - Performance
Return Ranking - Trailing
| Period | PRTMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.1% | -7.3% | 37.5% | 75.62% |
| 1 Yr | 1.4% | -7.4% | 37.6% | 70.32% |
| 3 Yr | -0.3%* | -11.8% | 5.1% | 29.58% |
| 5 Yr | 0.8%* | -7.4% | 1103.2% | 36.93% |
| 10 Yr | N/A* | -1.1% | 248.8% | 45.27% |
* Annualized
Return Ranking - Calendar
| Period | PRTMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.9% | -1.4% | 41.0% | 45.52% |
| 2022 | -9.7% | -39.7% | 0.3% | 33.04% |
| 2021 | -0.6% | -5.6% | 6.9% | 51.62% |
| 2020 | 2.1% | -2.6% | 310.0% | 33.75% |
| 2019 | N/A | 0.0% | 26.0% | N/A |
Total Return Ranking - Trailing
| Period | PRTMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.1% | -7.3% | 37.5% | 75.62% |
| 1 Yr | 1.4% | -7.4% | 37.6% | 70.32% |
| 3 Yr | -0.3%* | -11.8% | 5.1% | 29.58% |
| 5 Yr | 0.8%* | -7.4% | 1103.2% | 36.93% |
| 10 Yr | N/A* | -1.1% | 248.8% | 43.34% |
* Annualized
Total Return Ranking - Calendar
| Period | PRTMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.6% | -1.3% | 41.0% | 52.19% |
| 2022 | -7.4% | -39.7% | 1.1% | 30.24% |
| 2021 | 1.6% | -4.8% | 23761504.0% | 49.28% |
| 2020 | 3.5% | -1.5% | 17057.9% | 59.59% |
| 2019 | N/A | 0.2% | 3514.6% | N/A |
NAV & Total Return History
PRTMX - Holdings
Concentration Analysis
| PRTMX | Category Low | Category High | PRTMX % Rank | |
|---|---|---|---|---|
| Net Assets | 4.44 B | 3.22 M | 71.9 B | 8.20% |
| Number of Holdings | 903 | 4 | 13418 | 12.09% |
| Net Assets in Top 10 | 307 M | -317 M | 3.09 B | 11.62% |
| Weighting of Top 10 | 6.98% | 1.8% | 100.3% | 91.80% |
Top 10 Holdings
- COMMONWEALTH OF PUERTO RICO 1.24%
- MAIN STREET NATURAL GAS INC 0.73%
- PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 0.73%
- PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 0.72%
- BLACK BELT ENERGY GAS DISTRICT 0.68%
- SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT 0.67%
- CHICAGO MIDWAY INTERNATIONAL AIRPORT 0.66%
- NEW YORK STATE DORMITORY AUTHORITY 0.55%
- ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 0.52%
- COUNTY OF MIAMI-DADE FL AVIATION REVENUE 0.49%
Asset Allocation
| Weighting | Return Low | Return High | PRTMX % Rank | |
|---|---|---|---|---|
| Bonds | 99.17% | 0.00% | 150.86% | 42.55% |
| Cash | 0.83% | -50.86% | 44.62% | 58.29% |
| Stocks | 0.00% | 0.00% | 99.77% | 45.03% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 36.27% |
| Other | 0.00% | -3.69% | 53.54% | 44.39% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 35.94% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PRTMX % Rank | |
|---|---|---|---|---|
| Municipal | 99.67% | 44.39% | 100.00% | 25.08% |
| Cash & Equivalents | 0.00% | 0.00% | 44.41% | 55.00% |
| Derivative | 0.00% | -3.69% | 53.54% | 45.47% |
| Securitized | 0.00% | 0.00% | 5.93% | 40.80% |
| Corporate | 0.00% | 0.00% | 9.41% | 49.63% |
| Government | 0.00% | 0.00% | 52.02% | 44.50% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PRTMX % Rank | |
|---|---|---|---|---|
| US | 99.17% | 0.00% | 142.23% | 40.56% |
| Non US | 0.00% | 0.00% | 23.89% | 40.56% |
PRTMX - Expenses
Operational Fees
| PRTMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.29% | 0.01% | 8.02% | 94.42% |
| Management Fee | 0.27% | 0.00% | 1.20% | 12.48% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
| PRTMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
| PRTMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PRTMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 6.60% | 0.00% | 283.00% | 9.59% |
PRTMX - Distributions
Dividend Yield Analysis
| PRTMX | Category Low | Category High | PRTMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.17% | 0.00% | 14.51% | 58.32% |
Dividend Distribution Analysis
| PRTMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| PRTMX | Category Low | Category High | PRTMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.20% | -0.53% | 5.33% | 35.76% |
Capital Gain Distribution Analysis
| PRTMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 27, 2024 | $0.030 | OrdinaryDividend |
| Oct 30, 2024 | $0.028 | OrdinaryDividend |
| Sep 27, 2024 | $0.024 | OrdinaryDividend |
| Aug 29, 2024 | $0.030 | OrdinaryDividend |
| Jul 30, 2024 | $0.028 | OrdinaryDividend |
| Apr 29, 2024 | $0.027 | OrdinaryDividend |
| Mar 27, 2024 | $0.027 | OrdinaryDividend |
| Feb 28, 2024 | $0.025 | OrdinaryDividend |
| Jan 30, 2024 | $0.025 | OrdinaryDividend |
| Dec 28, 2023 | $0.028 | OrdinaryDividend |
| Nov 29, 2023 | $0.025 | OrdinaryDividend |
| Oct 30, 2023 | $0.025 | OrdinaryDividend |
| Sep 28, 2023 | $0.025 | OrdinaryDividend |
| Aug 30, 2023 | $0.025 | OrdinaryDividend |
| Jul 28, 2023 | $0.023 | OrdinaryDividend |
| Jun 29, 2023 | $0.026 | OrdinaryDividend |
| May 30, 2023 | $0.025 | OrdinaryDividend |
| Apr 27, 2023 | $0.022 | OrdinaryDividend |
| Mar 30, 2023 | $0.027 | OrdinaryDividend |
| Feb 27, 2023 | $0.021 | OrdinaryDividend |
| Jan 30, 2023 | $0.023 | OrdinaryDividend |
| Dec 29, 2022 | $0.026 | OrdinaryDividend |
| Dec 05, 2022 | $0.004 | CapitalGainShortTerm |
| Nov 29, 2022 | $0.023 | OrdinaryDividend |
| Oct 28, 2022 | $0.022 | OrdinaryDividend |
| Sep 29, 2022 | $0.024 | OrdinaryDividend |
| Aug 30, 2022 | $0.023 | OrdinaryDividend |
| Jul 28, 2022 | $0.023 | OrdinaryDividend |
| Jun 29, 2022 | $0.022 | OrdinaryDividend |
| May 27, 2022 | $0.022 | OrdinaryDividend |
| Apr 28, 2022 | $0.023 | OrdinaryDividend |
| Mar 30, 2022 | $0.022 | OrdinaryDividend |
| Feb 25, 2022 | $0.020 | OrdinaryDividend |
| Jan 28, 2022 | $0.020 | OrdinaryDividend |
| Dec 30, 2021 | $0.023 | OrdinaryDividend |
| Dec 08, 2021 | $0.001 | CapitalGainShortTerm |
| Nov 29, 2021 | $0.021 | OrdinaryDividend |
| Oct 28, 2021 | $0.022 | OrdinaryDividend |
| Sep 29, 2021 | $0.021 | OrdinaryDividend |
| Aug 30, 2021 | $0.021 | OrdinaryDividend |
| Jul 29, 2021 | $0.023 | OrdinaryDividend |
| Jun 29, 2021 | $0.022 | OrdinaryDividend |
| May 27, 2021 | $0.022 | OrdinaryDividend |
| Apr 29, 2021 | $0.024 | OrdinaryDividend |
| Mar 30, 2021 | $0.023 | OrdinaryDividend |
| Feb 25, 2021 | $0.022 | OrdinaryDividend |
| Jan 28, 2021 | $0.022 | OrdinaryDividend |
| Dec 30, 2020 | $0.027 | OrdinaryDividend |
| Dec 08, 2020 | $0.000 | CapitalGainShortTerm |
| Nov 27, 2020 | $0.023 | OrdinaryDividend |
| Oct 29, 2020 | $0.025 | OrdinaryDividend |
| Sep 29, 2020 | $0.024 | OrdinaryDividend |
| Aug 28, 2020 | $0.023 | OrdinaryDividend |
| May 28, 2020 | $0.026 | OrdinaryDividend |
| Jan 30, 2020 | $0.026 | OrdinaryDividend |
| Dec 30, 2019 | $0.026 | OrdinaryDividend |
| Nov 27, 2019 | $0.026 | OrdinaryDividend |
| Oct 30, 2019 | $0.026 | OrdinaryDividend |
| Sep 27, 2019 | $0.023 | OrdinaryDividend |
| Aug 29, 2019 | $0.028 | OrdinaryDividend |
| Jul 30, 2019 | $0.026 | OrdinaryDividend |
PRTMX - Fund Manager Analysis
Managers
Charles Hill
Start Date
Tenure
Tenure Rank
Oct 29, 1993
28.61
28.6%
Mr. Hill, who joined T. Rowe Price in 1991, is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Associates, Inc., and is a portfolio manager in the Fixed Income Division. He manages short- and intermediate- term municipal bond funds along with separately managed tax-exempt accounts, and best after-tax fixed-income accounts investing in both tax-exempt and taxable fixed-income securities. He earned a B.S. from Guilford College and also has earned his Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
