PTEXX — T. Rowe Price Tax-Exempt Money Fund, Inc.
Data updated: 2026-05-12
PTEXX — T. Rowe Price Tax-Exempt Money Fund, Inc. Money Market · 0.45% expense ratio. Holdings, fees, performance and SEC filings.
PTEXX Fund Overview
PTEXX — T. Rowe Price Tax-Exempt Money Fund, Inc. is a US mutual fund managed by T. Rowe Price Tax-Exempt Money Fund, Inc., categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: T. Rowe Price Tax-Exempt Money Fund, Inc.
- Category: Money Market
- Ticker: PTEXX
- SEC CIK: 0000315748
- SEC series ID: S000002161
- Share class ID: C000005557
PTEXX Investment Objective and Strategy
T. Rowe Price Tax-Exempt Money Fund, Inc. describes its objective and strategy as follows, from its latest prospectus filed with the SEC by T. Rowe Price Tax-Exempt Money Fund, Inc..
Investment objective
The fund seeks to provide preservation of capital, liquidity, and, consistent with these objectives, the highest current income exempt from federal income taxes.
Principal investment strategy
Effective August 1, 2026, the T. Rowe Price Tax-Exempt Money Fund will change its name to the T. Rowe Price Municipal Money Fund. Normally, at least 80% of the funds income will be exempt from federal income taxes. Subject to shareholder approval, the funds Board of Directors has approved changing the funds 80% investment policy to the following: The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal money market securities whose income is exempt from regular federal income taxes. If approved by shareholders, the new 80% investment policy is expected to become effective on August 1, 2026. The fund is a retail money market fund managed in compliance with Rule 2a -7 under the Investment Company Act of 1940. The securities purchased by the fund are subject to the maturity, credit quality, diversification, liquidity, and other requirements of Rule 2a-7.
All securities purchased by the fund present minimal credit risk in the opinion of T. Rowe Price. The fund is managed to provide a stable share price of $1.00 by investing in high-quality U.S. dollar-denominated municipal securities whose income is expected to be exempt from federal income taxes. The funds weighted average maturity will not exceed 60 calendar days, the funds weighted average life will not exceed 120 calendar days, and the fund will not purchase any security with a remaining maturity longer than 397 calendar days (unless otherwise permitted by Rule 2a-7, such as certain variable and floating rate instruments). The fund also has a policy that up to 20% of the funds income could be derived from securities subject to the alternative minimum tax. Subject to shareholder approval, the funds Board of Directors has approved eliminating this policy.
If approved by shareholders, the elimination of the alternative minimum tax policy is expected to become effective on August 1, 2026. Because the change to the funds 80% investment policy and elimination of the alternative minimum tax policy require shareholder approval to become effective, the changes are being proposed for approval at a special shareholder meeting scheduled for June 25, 2026. All shareholders who held shares of the fund at the close of business on March 27, 2026, are eligible to vote on the proposed changes. The proposed changes are intended to provide the fund with greater long-term flexibility in executing its investment program, align the policies with the funds new name, and reduce potential compliance risks for the fund, although the changes are not expected to substantially affect the way the fund is currently managed.
Proxy materials for the special shareholder meeting describe the proposed changes and the rationale in greater detail. If either proposed change is not approved by shareholders, the name change will still become effective on August 1, 2026. In selecting securities for the fund, the portfolio manager may examine relationships among yields of various types and maturities of money market securities in the context of interest rate outlooks. The funds yield will fluctuate with changes in short-term interest rates. It is possible that 25% or more of the funds assets could be invested in municipal securities that would tend to respond similarly to particular economic or political developments. For example, the fund may invest in securities of issuers whose revenues are generated from similar types of projects or operate in similar industries.
Although the fund may invest more than 25% of its net assets in industrial development bonds, the fund limits its investments in industrial development bonds that are supported principally by the assets or revenues of non-governmental users related to the same industry to 25% of its net assets. Bonds that are refunded with escrowed U.S. government securities are not subject to the 25% limitation. Refunded bonds may have originally been issued as general obligation or revenue bonds, but become refunded when they are secured by an escrow fund, usually consisting entirely of direct U.S. government obligations, U.S. government agency obligations, and/or cash.
PTEXX Holdings
Top 10 holdings of T. Rowe Price Tax-Exempt Money Fund, Inc. by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Vermont Educational & Health Buildings Financing Agency | 2.30% |
| South Carolina Public Service Authority | 1.92% |
| Louisiana Offshore Terminal Authority | 1.90% |
| Kentucky Higher Education Student Loan Corp. | 1.67% |
| Harris County Hospital District | 1.55% |
| County Of Fulton Ga | 1.55% |
| Tender Option Bond Trust Receipts/certificates | 1.54% |
| Tempe Industrial Development Authority | 1.46% |
| Tender Option Bond Trust Receipts/certificates | 1.46% |
| Dallas Area Rap Transit Ser I Tecp 2.4500 20261027 | 1.39% |
PTEXX Costs and Fees
PTEXX costs about $45 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.45%
- Gross expense ratio: 0.49%
PTEXX Debt Constituents
No individual debt constituents are reported in T. Rowe Price Tax-Exempt Money Fund, Inc.'s latest SEC N-PORT filing.
PTEXX Prospectus and SEC Filings
Official T. Rowe Price Tax-Exempt Money Fund, Inc. filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.