PAIMX Performance — T. Rowe Price Summit Municipal Income Fund, Advisor Class
Data updated: 2026-09-25
PAIMX returned +1.09% year to date and +6.69% over one year to Jul 2026. Annualised returns are +3.34% over 3 years and +0.24% over 5 years. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $110, against $110 for the category, and to $107 over one year, against $106. Volatility over the past three years was 6.16% a year. In the 12 months to Jul 2026 the fund lost a net $598.0M, and assets reached $2.52B.
PAIMX Growth of $100
What $100 invested in T. Rowe Price Summit Municipal Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | PAIMX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $107 | $106 |
| 3 years (Aug 2023 – Jul 2026) | $110 | $110 |
| 5 years (Aug 2021 – Jul 2026) | $101 | $101 |
| Since data start (Aug 2019 – Jul 2026) | $111 | $110 |
PAIMX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.09% |
| 1 year | +6.69% |
| 3 years (annualised) | +3.34% |
| 5 years (annualised) | +0.24% |
PAIMX Annual Returns
Calendar-year total returns of T. Rowe Price Summit Municipal Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +1.09% |
| 2025 | +3.02% |
| 2024 | +2.62% |
| 2023 | +7.01% |
| 2022 | −11.27% |
| 2021 | +2.88% |
| 2020 | +4.33% |
| 2019 (Aug–Dec) | +1.48% |
PAIMX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.7% | +1.5% | −2.1% | +1.2% | +0.7% | +1.1% | −1.9% | — | — | — | — | — |
| 2025 | +0.1% | +1.1% | −1.9% | −0.9% | −0.6% | +0.7% | −0.7% | +0.8% | +3.1% | +1.3% | +0.2% | 0.0% |
| 2024 | +0.1% | +0.1% | +0.2% | −1.0% | +0.2% | +1.7% | +0.7% | +0.6% | +1.2% | −1.4% | +1.8% | −1.5% |
| 2023 | +3.4% | −2.2% | +1.7% | +0.2% | −0.5% | +0.9% | +0.2% | −1.2% | −2.8% | −1.9% | +6.9% | +2.5% |
| 2022 | −2.6% | −0.8% | −3.1% | −3.0% | +1.2% | −2.4% | +2.8% | −2.4% | −4.1% | −1.6% | +5.1% | −0.4% |
| 2021 | +0.9% | −1.5% | +0.7% | +1.1% | +0.7% | +0.5% | +0.7% | −0.4% | −0.8% | −0.2% | +1.0% | +0.2% |
| 2020 | +1.8% | +1.5% | −5.7% | −2.8% | +3.3% | +2.2% | +2.0% | −0.3% | −0.1% | −0.2% | +1.9% | +0.9% |
| 2019 | — | — | — | — | — | — | — | +1.8% | −0.7% | 0.0% | +0.2% | +0.2% |
PAIMX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 6.16%
- 3-year Sharpe ratio: -0.19 (vs 4.5% risk-free rate)
- Best month: +6.92% (Nov 2023)
- Worst month: −2.78% (Sep 2023)
PAIMX Fund Flows
Monthly money in and out of T. Rowe Price Summit Municipal Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$598.0M
- 12-month gross sales (incl. reinvestments): $827.1M
- Sales ÷ redemptions: 0.58×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $119.0M | $160.2M | −$41.2M |
| Jun 2026 | $40.6M | $42.7M | −$2.1M |
| May 2026 | $47.1M | $34.6M | $12.5M |
| Apr 2026 | $49.3M | $41.1M | $8.2M |
| Mar 2026 | $81.1M | $35.1M | $46.0M |
| Feb 2026 | $45.4M | $312.8M | −$267.4M |
| Jan 2026 | $62.8M | $213.1M | −$150.3M |
| Dec 2025 | $88.5M | $317.9M | −$229.4M |
| Nov 2025 | $58.0M | $55.9M | $2.2M |
| Oct 2025 | $75.4M | $77.3M | −$1.9M |
| Sep 2025 | $76.4M | $57.1M | $19.3M |
| Aug 2025 | $83.4M | $77.2M | $6.2M |
PAIMX Assets Under Management
Net assets of T. Rowe Price Summit Municipal Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $2.52B |
| 2026-04-30 | $2.58B |
| 2026-01-31 | $2.80B |
| 2025-10-31 | $3.18B |
| 2025-07-31 | $3.02B |
| 2025-04-30 | $2.97B |
| 2025-01-31 | $3.06B |
| 2024-10-31 | $3.03B |
| 2024-07-31 | $2.80B |
| 2024-04-30 | $2.41B |
| 2024-01-31 | $2.37B |
| 2023-10-31 | $2.19B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.