# Portfolio overlap — PIMAX vs PRFHX Comparing **Victory Pioneer High Income Municipal Fund** (2026-02-28) and **T. Rowe Price Tax-Free High Yield Fund** (2026-02-28). - Shared positions: 34 - Victory Pioneer High Income Municipal Fund covered by T. Rowe Price Tax-Free High Yield Fund: 0.09476375797521027782379355677 - T. Rowe Price Tax-Free High Yield Fund covered by Victory Pioneer High Income Municipal Fund: 0.09476375797521027782379355675 ## Victory Pioneer High Income Municipal Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | City of Hammond IN | 0.035027 | | | GOLDEN ST TOBACCO SECURITIZATI REGD ZCP OID B/E 0.00000000 | 0.025133 | ✓ | | GOLDEN ST TOBACCO-A1 | 0.022587 | | | BUCKEYE TOBACCO SETTLEMENT FIN BUCGEN 06/57 ZEROCPNOID 0 | 0.022578 | | | Nassau County Tobacco Settlement Corp., Series A-3 | 0.020966 | | | WI PUBTRN 5.75 06/30/2060 | 0.020520 | ✓ | | Arlington Higher Education Finance Corp | 0.019900 | | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.019879 | ✓ | | Vail Home Partners Corp., Series 2025 | 0.019110 | ✓ | | Southwestern Illinois Development Authority | 0.016387 | | | Kansas Development Finance Authority Revenue Bonds, Village Shalom Project, Series 2018A | 0.015688 | | | Phoenix Industrial Development Authority, Arizona, Multi-Family Housing Revenue Bonds, 3rd and Indian Road Assisted Living Project, Series 2016 | 0.014488 | | | Inland Empire Tobacco Securitization Corp., Series 2007C-1 | 0.014105 | ✓ | | GA PWR - SOUTHERN CO 18-1 V1 | 0.013450 | | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.013284 | | | Greater Texas Cultural Education Facilities Finance Corp | 0.012887 | | | Delaware (County of), PA Industrial Development Authority (Mercy Health Corp. of Southeastern PA), Series 2016 A, RB | 0.011861 | | | FL ST DEV FIN CORP | 0.011836 | | | Indiana (State of) Housing & Community Development Authority (Lake Meadows Assisted Living), Series 2019 A, RB | 0.011688 | | | New York Counties Tobacco Trust IV, Tobacco Settlement Pass-Through Bonds, Turbo Term Series 2005A | 0.011597 | | | INDIANA ST HSG & CMNTY DEV AUTH MF HSG REVENUE | 0.011317 | | | County of Otero NM | 0.011201 | | | City of Detroit MI | 0.011133 | | | PUERTO RICO CMWLTH | 0.011121 | | | Westchester County Local Development Corp. (Purchase Senior Learning Community, Inc.), Series 2021, Ref. RB | 0.010388 | | | UNITED STATES STEEL CORP 5.45% 09-01-52 | 0.009871 | ✓ | | PORT OF PORT ARTHUR TX NAV DIST | 0.009807 | | | City of Anderson, Series 2020 A | 0.009774 | | | VA TOBGEN 6.71 06/01/2046 | 0.009563 | | | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE | 0.009555 | | | DESERTXPRESS ENTERPRISES LLC (MPT) 12.0% 01-01-65 | 0.009485 | | | WI PUBTRN 5.75 12/31/2065 | 0.009472 | ✓ | | New York Counties Tobacco Trust VI, Series A-2B | 0.009174 | | | AEROTROPOLIS REGL TRANPRTN AUT REGD B/E 5.75000000 | 0.009158 | | | New York Counties Tobacco Trust VI, Series 2016 A-2, Ref. RB | 0.009146 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.008906 | ✓ | | Michigan Strategic Fund | 0.008770 | | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.008668 | ✓ | | Michigan Finance Authority | 0.008384 | | | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Mariana Bracetti Academy Project, Taxable Series 2020B | 0.008378 | | | District of Columbia Tobacco Settlement Financing Corp., Series 2006 A, RB | 0.008077 | ✓ | | PORT PORT ARTHUR TX NAV DIST VAR-MOTIVA ENTERPRISES PJ-A | 0.007986 | | | California Municipal Finance Authority | 0.007984 | | | CAPITAL TRUST AGY FL STUDENT HSG REVENUE | 0.007964 | | | Puerto Rico Industrial Development Co., Series 2023 | 0.007886 | | | Philadelphia Authority for Industrial Development | 0.007787 | | | ARKANSAS ST DEV FIN AUTH INDL REGD B/E AMT 6.87500000 | 0.007507 | ✓ | | OH BUCGEN 5 06/01/2055 | 0.007496 | ✓ | | COLORADO EDUCTNL & CULTURAL AUTH REVENUE | 0.007424 | ✓ | | PUERTO RICO TOLLROADS LLC 5.75% 07-01-49 | 0.007362 | | ## T. Rowe Price Tax-Free High Yield Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.017232 | ✓ | | OH BUCGEN 5 06/01/2055 | 0.017094 | ✓ | | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.010582 | ✓ | | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND NATL 0.0% 12-15-33 | 0.010490 | | | GOLDEN ST TOBACCO SECURITIZATI REGD ZCP OID B/E 0.00000000 | 0.008297 | ✓ | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.005794 | ✓ | | California (State of) Community Housing Agency (Stonridge Apartments), Series 2021 A, RB | 0.005331 | | | WI PUBTRN 5.75 06/30/2060 | 0.005252 | ✓ | | TUSCLSA AL GOZ 5.25% 5/1/2044 | 0.005119 | | | Puerto Rico, General Obligation Bonds, Clawback Highway Transportation Authority Claims Taxable Series 2022 | 0.005002 | | | CITY OF BALTIMORE MD | 0.004909 | | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.004875 | ✓ | | MD HEFA 5.50% 1/1/2046 | 0.004781 | | | WI PUBFIN 4 08/01/2035 | 0.004684 | | | SIGNIA HOTEL MANAGEMENT LLC 5.0% 01-01-54 | 0.004520 | | | RESTRUCTURED-SER A1 | 0.004482 | | | OH ST AIR QUALI 5% 7/1/2049 | 0.004316 | | | California Community Housing Agency, Series 2021 A | 0.004249 | | | SALT VERDE FINL. CO 5.00% | 0.004183 | | | District of Columbia Tobacco Settlement Financing Corp., Series 2006 A, RB | 0.004108 | ✓ | | MD MDSDEV 5.25 06/30/2055 | 0.003992 | | | TX PRIVATE ACTIVITY | 0.003952 | | | BERKS PA MUN AU 3% 6/30/2044 | 0.003926 | | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2025 A, RB | 0.003739 | | | WI PUBTRN 6.5 12/31/2065 | 0.003711 | | | CUYAHOGA HOSP 5.5% 2/15/2057 | 0.003679 | | | CALIFORNIA COMMUNITY HOUSING AGENCY VERDANT AT GREEN VALLEY APARTMENTS 5.0% 08-01-49 | 0.003676 | | | Massachusetts Development Finance Agency | 0.003620 | | | NY TRANS CORP 5% 8/1/2031 AMT | 0.003610 | | | SHEFA SCHOOL 5.0% 06-15-51 | 0.003582 | | | CITY OF ATLANTA GA WESTSIDE TAX ALLOCATION DISTRICT GULCH AREA 0.0% 12-15-48 | 0.003572 | | | ST LOUIS MO SP 5.125% 9/1/2048 | 0.003563 | | | New Hampshire (State of) Business Finance Authority (Thomas Ranch), Series 2024, RB | 0.003518 | | | Aurora Crossroads Metropolitan District 2, Colorado, Limited Tax General Obligation Bonds, Series 2025A-3 | 0.003479 | | | County of Calhoun Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Oaklawn Hospital, Refunding Series 2016 | 0.003457 | | | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE | 0.003425 | | | RESTRUCTURED-SER A1 | 0.003419 | | | COLORADO EDUCTNL & CULTURAL AUTH REVENUE | 0.003416 | ✓ | | ST LOUIS MO LD 5.375% 6/1/2043 | 0.003372 | | | CHICAGO ILL BRD ED CAP APPREC-SCH REFORM-B-1 FGIC | 0.003363 | | | PENNSYLVANIA ST ECON DEV FING REGD B/E AMT 5.75000000 | 0.003328 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023, RB | 0.003302 | | | Public Authority for Colorado Energy, Series 2008, RB | 0.003301 | | | BLACK BELT ENERGY GAS VAR | 0.003288 | | | Cleveland-Cuyahoga County Port Authority, Series 2018 | 0.003256 | | | RESTRUCTURED-SER A1 | 0.003253 | | | KY KYSDEV 5.25 06/01/2050 | 0.003233 | | | SKY HARBOUR CAPITAL LLC OBLIGATED GROUP 4.25% 07-01-54 | 0.003201 | | | UNITED STATES STEEL CORP 4.125% 12-01-26 | 0.003179 | | | VIRGIN ISLANDS HOTEL DEV FING REGD OID B/E 6.00000000 | 0.003124 | | ## Sources - N-PORT (fund A) — accession `0001004726-26-003130` (as of 2026-02-28) - N-PORT (fund B) — accession `0001099263-26-004388` (as of 2026-02-28) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _