T. Rowe Price Intermediate Municipal Income ETF
$48.87+0.21 (+0.44%)
- 0.24%
- $342M
- −0.8%
- 3.85%
- 0.1M sh
- $48.57
- low $48.04high $52.03
The ETF.net TAXE Grade
A
Score 70 out of 100
- 6 of 20
Score 70 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A79 out of 100Rank 5 of 20Mission
Whether the fund did what it promised, tested against its stated mandate.A98 out of 100Rank 5 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B55 out of 100Rank 8 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D39 out of 100Rank 13 of 20Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B59 out of 100Rank 8 of 20Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C48 out of 100Rank 11 of 20
Our read on TAXE
AMost muni ETFs just buy the index. TAXE is T. Rowe Price's hand-picked version: roughly 200 intermediate municipal bonds chosen for federally tax-free income with moderate price movement, at 0.24% a year.
The fund seeks the highest level of income exempt from federal income taxes while maintaining moderate price fluctuation.
Why people hold it
- At 0.24% a year it undercuts the typical muni ETF fee, unusual for a fund with a manager actually picking the bonds.
- No index to copy. The mandate is plain: the highest federally tax-exempt income the managers can find while keeping price swings moderate.
- The portfolio has stayed tightly aligned with that stated job, one of the stronger implementations among muni ETFs.
- Pays monthly, spreading interest from about 200 intermediate munis across the calendar rather than in quarterly lumps.
Worth knowing
- Cheap for active, still pricier than the index giants: VTEB and SCMB run at 0.03%. The gap is what you pay for human bond selection.
- Trades lightly next to the largest muni ETFs, so bid-ask spreads can be wider, particularly on bigger orders.
- Launched in 2024, so the track record is short and has not yet spanned a full interest-rate cycle.
TAXE Holdings
- Bonds
- 720
- 13%
- Connecticut St Hlth Eductnl Ctshgr 07/42 Adjustable Var
Sectors
- Municipal98.9%
- Corporate1.1%
TAXE Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
TAXE$9,917
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TAXE |
|---|---|
| Year to date | −2.1% |
| 1 month | −1.4% |
| 3 months | −4.0% |
| 1 year | −0.8% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TAXE |
|---|---|---|
| 2026 YTD | −2.1% | |
| 2025 | +5.8% | |
| 2024 | +1.5% |
TAXE in the news
TAXE Dividends
- 3.85%
- $1.88
- $0.16 per share
- Monthly
Distribution history
TAXE Risk
- 4.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.55
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −5.5%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.17
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TAXE Cost
0.24%
TAXE0.24%
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
3 of the 19 Intermediate Municipal Bonds funds charge less.
Other funds in Intermediate Municipal Bonds
- AITMVanEck Intermediate Muni ETFExpense ratio 0.18%1 year return −2.4%
- ACAMAlliance Bernstein - AB California Intermediate Municipal ETFExpense ratio 0.27%1 year return −0.6%
- BTAFMAlliance Bernstein - AB Tax-Aware Intermediate Municipal ETFExpense ratio 0.28%1 year return −2.3%
- BMUNIPIMCO Intermediate Municipal Bond Active Exchange-Traded FundExpense ratio 0.35%1 year return −1.6%
- BNYMAB Active ETFs Inc. - AB New York Intermediate Municipal ETFExpense ratio 0.27%1 year return —