T. Rowe Price Summit Municipal Income Fund

Scorecard
5 / 5 Stars
Lipper
5 5 2 5 3
Zacks Investment Research
1 (Strong Buy)
Standard & Poor's
4 / 5 Stars
TheStreet.com
A (Buy)

#2 in Muni National Long

U.S. News evaluated 58 Muni National Long Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.

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Performance

The fund has returned 7.37 percent over the past year, 6.45 percent over the past three years, 6.75 percent over the past five years, and 5.15 percent over the past decade.

Trailing Returns Updated 06.30.2014
Year to date 7.4%
1 Year 7.4%
3 Years (Annualized) 6.4%
5 Years (Annualized) 6.8%
10 Years (Annualized) 5.1%

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Summary

The investment seeks a high level of income exempt from federal income taxes. The fund will normally invest at least 80% of its total assets in investment-grade municipal securities rated in one of the four highest credit categories (AAA to BBB, or an equivalent rating) by at least one major credit rating agency or, if unrated, deemed to be of comparable quality by T. Rowe Price. It may invest up to 20% of its total assets in noninvestment-grade bonds, known as "junk" bonds in the taxable bond market, including those with the lowest credit ratings. Normally, at least 80% of the fund's income will be exempt from federal income taxes.

Fees

Fees are Average compared to funds in the same category.
T. Rowe Price Summit Municipal Income Fund has an expense ratio of 0.50 percent.

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Risk

Risk is Average compared to funds in the same category according to Morningstar.

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