T. Rowe Price Tax Free Income Fund I Class
TFILX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- Baltimore MD 21202 Baltimore MD United States of America 21202
- IPO Date
- Jul 13, 2017
- CIK
- 0000202927
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price Tax Free Income Fund I Class (TFILX) is a mutual fund managed by T. Rowe Price Group, Inc. that seeks to provide a high level of income exempt from federal income taxes by investing primarily in long-term, investment-grade municipal securities; it maintains a weighted average maturity greater than 15 years while adjusting duration to the interest rate environment and broadly diversifying geographically and across sectors such as health facilities, transportation, and sales tax revenue bonds. Core holdings include California Health Facilities Financing Authority Revenue 5%, New York State Thruway Authority General Revenue 4%, Puerto Rico Sales Tax Financing Corporation Sales Tax Revenue bonds at 4.75% and 4.329%, Denver Colorado Convention Center Hotel Authority Revenue 5%, and Regional Transportation Authority Illinois 6%, among others, with total assets under management of approximately $2.3 billion, a portfolio turnover of 25.5%, modified duration to worst of 7.63 years, and an expense ratio of 0.35%. Some income may be subject to the federal alternative minimum tax, and capital gains, if any, are generally taxable. Founded in 1937 and headquartered in Baltimore, Maryland, T. Rowe Price Group, Inc. operates globally with offices in 17 countries serving clients across 55 nations, focusing on active investment management through fundamental credit research, diversification, and risk management in the tax-free municipal market. The fund targets individual and institutional investors seeking tax-exempt income, with geographic exposure primarily to U.S. municipal issuers including states like California, New York, Colorado, Illinois, Georgia, Oklahoma, and North Carolina, as well as Puerto Rico. In a recent management update effective May 1, 2025, portfolio managers Timothy Taylor (28 years of experience) and Austin Applegate (21 years of experience) became co-managers of the fund and the related T. Rowe Price Summit Municipal Income Fund, reflecting their close collaboration under the firm's team-based approach without anticipated impact on strategy or Morningstar ratings. T. Rowe Price Group reported preliminary month-end assets under management growth, with overall AUM reaching $1.68 trillion in the first half of 2025 driven by market gains and inflows into fixed income, and launched four new active fixed income ETFs in November 2025 including the T. Rowe Price Long Municipal Income ETF (TMNL) to expand its municipal bond offerings. Additionally, in December 2025, T. Rowe Price partnered with Goldman Sachs to launch co-branded model portfolios via GeoWealth's platform, targeting mass-affluent and high-net-worth clients with tax-aware dynamic ETF and hybrid strategies.