PRIMX Fees and Costs — T. Rowe Price Summit Municipal Income Fund, I Class
Data updated: 2026-09-25
The net expense ratio is 0.35%: a 0.32% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 30%.
PRIMX Fees and Expenses
Annual operating expenses and sales charges of PRIMX. Prospectus, as of December 22, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.32% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.35% |
| Fee waiver | — |
| Net expense ratio | 0.35% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PRIMX Costs Over Time
On $10,000 invested in PRIMX, assuming 5% a year before costs, total costs come to $222 over 5 years, cutting the return by 0.37% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.35%) | $37 | $115 | $202 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $37 | $121 | $222 |
| Value after costs | $10,463 | $11,455 | $12,541 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
PRIMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $3.8B
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
PRIMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $937.2M | 28.98% |
| BARCLAYS CAPITAL INC. | $410.1M | 12.68% |
| SAMUEL A. RAMIREZ & COMPANY, INC. | $395.6M | 12.23% |
| TD Securities Ltd. | $345.4M | 10.68% |
| WELLS FARGO SECURITIES, LLC | $260.7M | 8.06% |
| RBC Capital Markets, LLC | $229.1M | 7.08% |
| BOFA SECURITIES, INC. | $207.3M | 6.41% |
| JEFFERIES LLC | $194.9M | 6.03% |
| Truist Securities, Inc. | $144.5M | 4.47% |
| MORGAN STANLEY & CO. LLC | $109.3M | 3.38% |
T. Rowe Price Summit Municipal Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PRIMX | I Class | 0.35% | — |
| PRINX | T. Rowe Price Summit Municipal Income Fund | 0.45% | — |
| PAIMX | Advisor Class | 0.70% | — |
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.