PTYIX Fees and Costs — T. Rowe Price Tax-Free High Yield Fund, I Class
Data updated: 2026-07-28
The net expense ratio is 0.50%: a 0.45% management fee plus 0.05% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 19%.
PTYIX Fees and Expenses
Annual operating expenses and sales charges of PTYIX. Prospectus, as of April 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.50% |
| Fee waiver | — |
| Net expense ratio | 0.50% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PTYIX Costs Over Time
On $10,000 invested in PTYIX, assuming 5% a year before costs, total costs come to $316 over 5 years, cutting the return by 0.52% 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 0.50%) | $52 | $165 | $287 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $52 | $173 | $316 |
| Value after costs | $10,448 | $11,403 | $12,447 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
PTYIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.6B
- Portfolio turnover (prospectus): 19%
- Securities lending: none during the year
PTYIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $871.9M | 39.78% |
| BARCLAYS CAPITAL INC. | $297.1M | 13.55% |
| WELLS FARGO SECURITIES, LLC | $174.7M | 7.97% |
| TD Securities Ltd. | $161.9M | 7.39% |
| RBC Capital Markets, LLC | $148.0M | 6.75% |
| BOFA SECURITIES, INC. | $134.6M | 6.14% |
| JEFFERIES LLC | $122.1M | 5.57% |
| Truist Securities, Inc. | $113.3M | 5.17% |
| FMSBONDS, INC. | $84.3M | 3.85% |
| MORGAN STANLEY & CO. LLC | $84.1M | 3.84% |
T. Rowe Price Tax-Free High Yield Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PTYIX | I Class | 0.50% | — |
| PRFHX | T. Rowe Price Tax-Free High Yield Fund | 0.64% | — |
| PATFX | Advisor Class | 1.01% | — |
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.