New York Tax-Free Money Fund

Invests at least 65% of total assets in New York municipal securities and at least 80% of the fund’s income is expected to be exempt from federal, New York state, and New York City income taxes.

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Price
(USD)

Daily Price Change

$1.0000
$0.0000

Data as of 06/18/2021

Data as of 06/18/2021

Douglas Spratley, CFA
Douglas Spratley, CFA, Portfolio Manager

Douglas “Doug” Spratley is head of the Cash Management team and a portfolio manager of the money market strategies in the Fixed Income Division. He is the president and chairman of the Investment Advisory Committees for the Reserve Investment, Tax-Exempt Money, and Summit Funds and the Government Money Portfolio; an executive vice president and chairman of the Investment Advisory Committee for the Fixed Income Series; an executive vice president of the State Tax-Free, U.S. Treasury, and Institutional Income Funds; and chairman of the Investment Advisory Committees for the California, Maryland, and New York Tax-Free Money, U.S. Treasury Money, and Institutional Cash Reserves Funds. He also is the head of the Money Market Policy Committee and a member of the Securities Lending Oversight Committee. Doug is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company.

View more

Strategy

Investment Objective

The fund seeks to provide preservation of capital, liquidity, and, consistent with these objectives, the highest level of income exempt from federal, New York state, and New York City income taxes.

Yields & Dividends (Investor Class)

7-Day Annualized Simple
with waiver
0.01%
without waiver
-1.05%

Data as of 06/18/2021

7-Day Annualized Compound
with waiver
0.01%
without waiver
-1.04%

Data as of 06/18/2021

Monthly Dividend
(USD)
$0.000007946

Data as of 05/31/2021

Average Annual Total Returns (Investor Class)

1 YR
0.03%
Benchmark
0.07%
Value
-0.04% -0.01%

Data as of 03/31/2021

3 YR
0.63%
Benchmark
0.74%
Value
-0.11% -0.11%

Data as of 03/31/2021

5 YR
0.48%
Benchmark
0.57%
Value
-0.09% -0.09%

Data as of 03/31/2021

10 YR
0.24%
Benchmark
0.29%
Value
-0.05% -0.05%

Data as of 03/31/2021

Benchmark: Lipper New York Tax-Exempt Money Market Funds Index (%)

Fund Inception: 08/28/1986

Expense Ratio

Gross
0.85%
Net
0.55%
Limitation Type
Contractual
expires 06/30/2021

Current performance may be higher or lower than the quoted past performance, which cannot guarantee future results. Investment return and yield will vary. The average annual total return figures include reinvested dividends.

Year-to-date figures for the money funds are not annualized and represent total return, which includes reinvested distributions. The yield quotation more closely reflects the current earnings of the money market fund than does the total return.

A method of calculating a money fund's yield by annualizing the fund's net investment income for the last seven days of each period divided by the fund's net asset value at the end of the period.

The gross expense ratio reflects the fund expenses as stated in the fee table of the fund's prospectus prior to the deduction of any waiver or reimbursement. The net expense ratio reflects fund expenses after the deduction of any waiver or reimbursement.  If a fund has an active contractual expense limitation, the expiration date is shown below the gross and net expense ratio values above.  Expense ratios are as of the most recent prospectus.

In an effort to maintain a zero or positive net yield, T. Rowe Price has voluntarily waived or reimbursed all or a portion of the management fee and operating expenses it is entitled to receive from the fund. The 7- day yield without waiver represents what the yield would have been if we were not waiving those fees.  In addition, the fund’s performance without the fee waiver or reimbursement would also have been lower. This voluntary waiver is in addition to any contractual expense ratio limitation in effect for the fund and may be amended or terminated at any time without prior notice. Please see the prospectus for more details.

Current Year Performance (Investor Class)

Daily YTD
0.00%
Benchmark
N/A
Value
N/A

Data as of 06/18/2021

Monthly YTD
0.00%
Benchmark
0.00%
Value
0.00%

Data as of 05/31/2021

One Month
0.00%
Benchmark
0.00%
Value
0.00%

Data as of 05/31/2021

Three Months
0.00%
Benchmark
0.00%
Value
0.00%

Data as of 05/31/2021

Benchmark: Lipper New York Tax-Exempt Money Market Funds Index (%)

Fund Inception: 08/28/1986

Holdings

Total
Holdings
51

Data as of 03/31/2021

Team (As of )

Douglas Spratley, CFA

Douglas Spratley, CFA
Portfolio Manager

Douglas “Doug” Spratley is head of the Cash Management team and a portfolio manager of the money market strategies in the Fixed Income Division. He is the president and chairman of the Investment Advisory Committees for the Reserve Investment, Tax-Exempt Money, and Summit Funds and the Government Money Portfolio; an executive vice president and chairman of the Investment Advisory Committee for the Fixed Income Series; an executive vice president of the State Tax-Free, U.S. Treasury, and Institutional Income Funds; and chairman of the Investment Advisory Committees for the California, Maryland, and New York Tax-Free Money, U.S. Treasury Money, and Institutional Cash Reserves Funds. He also is the head of the Money Market Policy Committee and a member of the Securities Lending Oversight Committee. Doug is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company.

  • Fund manager
    since 2020
  • Years at
    T. Rowe Price 12
  • Years investment
    experience 24
Whitney Reid

Whitney Reid
Portfolio Specialist

Whitney Reid is a portfolio specialist in the Fixed Income Division. He supports the Stable Value, Money Market, US Ultra Short-Term Bond, and US Short-Term Bond Strategies and acts as a proxy for fixed income portfolio managers with clients, consultants, and prospects. Whitney is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.

  • Years at
    T. Rowe Price 9
  • Years investment
    experience 25

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

How to Invest

View platform information
Share Class Min Initial Investment (USD) Min Subsequent Investment (USD) 12b-1 Fee Expense Ratio
Gross Net Limitation Type Limitation Expiration Date
Investor Class
Cusip 779571207
$2,500 $100 0.00% 0.85% 0.55% Contractual 06/30/2021
I Class
Cusip 779571405
$1,000,000* N/A 0.00% 0.79% 0.33% Contractual
06/30/2021
*

Minimum initial investment $1,000,000, certain exceptions may apply. Minimum waived for I Classes offered through Workplace Retirement plans.

3

Figure applies to all share classes.

Dismiss
Tap to dismiss