T. Rowe Price Tax-Free Income Inv (PRTAX - MF report) a Zacks Ranked #1 (Strong Buy) seeks high level of income exempt from federal income taxes by investing primarily in long-term, investment-grade municipal securities. PRTAX’s weighted average maturity is expected to exceed 15 years. Dividends are declared daily and distributed monthly. Capital gains, if any, are declared and paid in December.

The T. Rowe Price Tax-Free Income Inv fund, managed by T. Rowe Price , carries an expense ratio of 0.51. Moreover, PRTAX requires a minimal initial investment of $2,500.

PRTAX has a history of strong positive total returns for over 10 years. Specifically, the fund’s returns over the 1, 3, 5 year benchmarks; 1 year 3.73%, 3 year 3.50%, and 5 year 4.78%. To see how this fund performed compared in its category, please click here.

PRTAX’s performance, as of the last filing, when compared to funds in its category was in the top 25% in 1 year, top 24% over the past 3 years, and in the 30% over the past 5 years.