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Rowe Price Intermediate Tax-Free High Yield Fund, Inc. 2026-05-01 SUMMARY Investment Objective(s) <p id="xdx_A88_eoef--ObjectivePrimaryTextBlock_zH5LPWtp1EO6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fund seeks to provide a high level of income exempt from federal income taxes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> Fees and Expenses <p id="xdx_A8C_eoef--ExpenseNarrativeTextBlock_zTjxuGk2pmRk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the fund. <b>You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table or example below.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <div id="xdx_A8C_eoef--ShareholderFeesTableTextBlock_zzXk3K1fQXmj"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_zmH0Xynyznhc" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_492_20260424__20260424__oef--ClassAxis__custom--C000144520Member_zpNi0ki95upe" style="border-top: Black 1pt solid; padding-right: 0.5pt; padding-left: 1.4pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Investor</b></span><br/> <span style="font: 10pt Times New Roman, Times, Serif"><b>Class</b></span></td> <td colspan="2" id="xdx_49C_20260424__20260424__oef--ClassAxis__custom--C000193185Member_z27GyNwXhIaa" style="border-top: Black 1pt solid; padding-right: 0.5pt; padding-left: 1.4pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>I</b></span><br/> <span style="font: 10pt Times New Roman, Times, Serif"><b>Class</b></span></td> <td style="border-top: Black 1pt solid; border-right: black 1pt solid; padding-right: 0.5pt; padding-left: 1.4pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td colspan="5" style="border-left: black 1pt solid; padding-right: 0.5pt; padding-left: 1.4pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_90A_eoef--ShareholderFeesCaption_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zCOBJlrY3jkh">Shareholder fees (fees paid directly from your investment)</span></b></span></td> <td style="border-right: black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eoef--MaximumAccountFee_d0_zgmQFD9Qwgsj" style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt; width: 69%"><span style="font: 10pt Times New Roman, Times, Serif">Maximum account fee</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right; width: 12%"><span style="font: 10pt Times New Roman, Times, Serif">$20</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; width: 3%"><span style="font: 10pt Times New Roman, Times, Serif"><sup id="xdx_F2B_zi3ld1S3tzNg">a</sup> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right; width: 12%"><span style="font: 10pt Times New Roman, Times, Serif">—</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; width: 3%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; width: 1%"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"> </td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"> </td> <td style="white-space: nowrap; background-color: #E6E6E6"> </td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"> </td> <td style="white-space: nowrap; background-color: #E6E6E6"> </td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6"> </td></tr> </table> Shareholder fees (fees paid directly from your investment) 20 0 Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A82_eoef--AnnualFundOperatingExpensesTableTextBlock_zfGybdkoFlpf"></div> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zUP2hbsWH6F8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="display: none; vertical-align: top"> <td style="border-left: Black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"> </td> <td id="xdx_492_20260424__20260424__oef--ClassAxis__custom--C000144520Member_zWJuMVvZNzgj" style="white-space: nowrap; background-color: #E6E6E6; text-align: right"> </td> <td style="white-space: nowrap; background-color: #E6E6E6"> </td> <td id="xdx_49C_20260424__20260424__oef--ClassAxis__custom--C000193185Member_zP7qhbHR5jt9" style="white-space: nowrap; background-color: #E6E6E6; text-align: right"> </td> <td style="white-space: nowrap; background-color: #E6E6E6"> </td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"> </td></tr> <tr id="xdx_40C_eoef--ManagementFeesOverAssets_dpn_zxiZRdpteZKh" style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif">Management fees</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> 0.35</span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> 0.35</span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif">%</span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; white-space: nowrap; width: 69%; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; width: 12%; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; width: 3%; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; width: 12%; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; width: 3%; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; width: 1%; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dp0_zmMnEeGmCOBg" style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif">Other expenses</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> 0.45</span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> 0.29</span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"><sup id="xdx_F2E_zaVnCmrebRi6">b</sup> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40A_eoef--ExpensesOverAssets_dpn_z6uUHYVLPPa" style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif">Total annual fund operating expenses</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> 0.80</span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> 0.64</span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eoef--FeeWaiverOrReimbursementOverAssets_dp0_z4jbMHv92qZ8" style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif">Fee waiver/expense reimbursement</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> (0.34</span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif">)<sup id="xdx_F25_zdsV9WGKuN5h">c</sup> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> (0.23</span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif">)<sup id="xdx_F2E_zFwrXnbIhp11">b</sup> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; white-space: nowrap; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40B_eoef--NetExpensesOverAssets_dpn_zHonsyiYXqC8" style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>Total annual fund operating expenses after fee waiver/expense reimbursement</b></span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><b> 0.46</b></span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"><b><sup id="xdx_F2C_zBRsdEVAjOf2">c</sup></b> </span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><b> 0.41</b></span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; background-color: #E6E6E6"><span style="font: 10pt Times New Roman, Times, Serif"><b><sup id="xdx_F25_z7MDo1KIzUhk">b</sup></b> </span></td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; padding-left: 1.4pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="margin: 0"></p> 0.0035 0.0035 0.0045 0.0029 0.0080 0.0064 -0.0034 -0.0023 0.0046 0.0041 <div id="xdx_A8B_eoef--ExpenseFootnotesTextBlock_ztzuLkBEd0x6"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; width: 2%; text-align: left"><span style="font: 6pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; width: 53%"><span style="font: 6pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; width: 10%"><span style="font: 6pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%"><span style="font: 6pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; width: 10%"><span style="font: 6pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%"><span style="font: 6pt Times New Roman, Times, Serif"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 5%"><span style="font: 6pt Times New Roman, Times, Serif"> </span></td></tr></table> <p style="margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: top; padding-right: 0.5pt; padding-left: 1.4pt; text-align: left; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F0B_zXzkiChxx6N6">a</sup> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt; padding-left: 1.4pt; width: 97%"><span id="xdx_F15_zSYUERhleRJ2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to certain exceptions and account minimums, accounts are charged an annual $20 fee.</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: top; padding-right: 0.5pt; padding-left: 1.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F05_zsbDNBG7hL0b">b</sup> </span></td> <td style="vertical-align: bottom; padding-right: 0.5pt; padding-left: 1.4pt"><span id="xdx_F1A_z2XI3qLPihFb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">T. Rowe Price Associates, Inc., has contractually agreed (through April 30, 2027) to pay the operating expenses of the fund’s I Class excluding management fees; interest; expenses related to borrowings, taxes, and brokerage; nonrecurring, extraordinary expenses; and acquired fund fees and expenses (I Class Operating Expenses), to the extent the I Class Operating Expenses exceed 0.05% of the class’ average daily net assets. The agreement may only be terminated at any time after <span id="xdx_907_eoef--FeeWaiverOrReimbursementOverAssetsDateOfTermination_c20260424__20260424__oef--ClassAxis__custom--C000193185Member_zzF6VgbX7UBb">April 30, 2027</span>, with approval by the fund’s Board of Directors. Any expenses paid under this agreement (and any applicable prior limitations) are subject to reimbursement to T. Rowe Price Associates, Inc., by the class whenever the I Class Operating Expenses are below 0.05%. However, the class will not reimburse T. Rowe Price Associates, Inc., more than three years from the date such amounts were initially waived or paid. The class may only reimburse T. Rowe Price Associates, Inc., if the reimbursement does not cause the I Class Operating Expenses (after the reimbursement is taken into account) to exceed the current expense limitation on I Class Operating Expenses (or the expense limitation in place at the time the amounts were waived or paid).</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: top; padding-right: 0.5pt; padding-left: 1.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F01_zfhb35U55Bek">c</sup> </span></td> <td style="vertical-align: bottom; padding-right: 0.5pt; padding-left: 1.4pt"><span id="xdx_F1C_z8u40f73BcAi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">T. Rowe Price Associates, Inc., has contractually agreed (through April 30, 2027) to waive its fees and/or bear any expenses (excluding interest; expenses related to borrowings, taxes, and brokerage; nonrecurring, extraordinary expenses; and acquired fund fees and expenses) that would cause the class’ ratio of expenses to average daily net assets to exceed 0.45%. The agreement may only be terminated at any time after <span id="xdx_908_eoef--FeeWaiverOrReimbursementOverAssetsDateOfTermination_c20260424__20260424__oef--ClassAxis__custom--C000144520Member_zswoA81Ujnb">April 30, 2027</span>, with approval by the fund’s Board of Directors. Fees waived and expenses paid under this agreement (and any applicable prior limitations) are subject to reimbursement to T. Rowe Price Associates, Inc., by the class whenever the class’ expense ratio is below 0.45%. However, the class will not reimburse T. Rowe Price Associates, Inc., more than three years from the date such amounts were initially waived or paid. The class may only reimburse T. Rowe Price Associates, Inc., if the reimbursement does not cause the class’ expense ratio (after the reimbursement is taken into account) to exceed the class’ current expense limitation (or the expense limitation in place at the time the amounts were waived or paid).</span></td></tr> </table> April 30, 2027 April 30, 2027 Example <p id="xdx_A8B_eoef--ExpenseExampleNarrativeTextBlock_zhgJ07mj8l0c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. The example also assumes that any current expense limitation arrangement remains in place for the period noted in the previous table; therefore, the figures have been adjusted to reflect fee waivers or expense reimbursements only in the periods for which the expense limitation arrangement is expected to continue. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <div id="xdx_A8C_eoef--ExpenseExampleWithRedemptionTableTextBlock_zsUQllp3i3Of"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_z5fmvG25FJZ4" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: bottom"> <td style="border-top: black 1pt solid; border-left: black 1pt solid; padding: 2.15pt; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_489_eoef--ExpenseExampleYear01_zE2m6LJb6R97" style="border-top: black 1pt solid; padding: 2.15pt; white-space: nowrap; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1 Year</b></span></td> <td colspan="2" id="xdx_484_eoef--ExpenseExampleYear03_z9uXi2gvdVRa" style="border-top: black 1pt solid; padding: 2.15pt; white-space: nowrap; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3 Years</b></span></td> <td colspan="2" id="xdx_488_eoef--ExpenseExampleYear05_zArK4LZPIOf7" style="border-top: black 1pt solid; padding: 2.15pt; white-space: nowrap; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5 Years</b></span></td> <td colspan="2" id="xdx_48C_eoef--ExpenseExampleYear10_zd6HcLIp9qrd" style="border-top: black 1pt solid; border-right: black 1pt solid; padding: 2.15pt; white-space: nowrap; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10 Years</b></span></td> </tr> <tr id="xdx_410_20260424__20260424__oef--ClassAxis__custom--C000144520Member_zdZvrL10mD8d"> <td style="border-left: black 1pt solid; padding: 2.15pt; white-space: nowrap; width: 32%; background-color: #D9D9D9"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> Investor Class </b></span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; width: 5%; background-color: #D9D9D9; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; width: 12%; background-color: #D9D9D9; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; width: 5%; background-color: #D9D9D9; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; width: 12%; background-color: #D9D9D9; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">221</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; width: 5%; background-color: #D9D9D9; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; width: 12%; background-color: #D9D9D9; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">411</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; width: 5%; background-color: #D9D9D9; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-right: black 1pt solid; padding: 2.15pt; white-space: nowrap; vertical-align: bottom; width: 12%; background-color: #D9D9D9; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">958</span></td> </tr> <tr id="xdx_417_20260424__20260424__oef--ClassAxis__custom--C000193185Member_zwh6Ya8iIKR9"> <td style="border-left: black 1pt solid; padding: 2.15pt; white-space: nowrap; background-color: #D9D9D9"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> I Class </b></span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">182</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">334</span></td> <td style="padding: 2.15pt; white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; padding: 2.15pt; white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">777</span></td> </tr> <tr> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 2.15pt; padding-left: 2.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 2.15pt; padding-left: 2.15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 2.15pt; padding-left: 2.15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 2.15pt; padding-left: 2.15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 2.15pt; padding-left: 2.15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 2.15pt; padding-left: 2.15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> 47 221 411 958 42 182 334 777 Portfolio Turnover <p id="xdx_A84_eoef--PortfolioTurnoverTextBlock_zLBzdRdOVRFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was <span id="xdx_90E_eoef--PortfolioTurnoverRate_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zHbwXmiR7Al5">11.4%</span> of the average value of its portfolio.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.114 Principal Investment Strategies <p id="xdx_A8A_eoef--StrategyNarrativeTextBlock_zEMooiMvHAJ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective August 1, 2026, the T. Rowe Price Intermediate Tax-Free High Yield Fund will change its name to the T. Rowe Price Intermediate High Yield Municipal Bond Fund.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eoef--StrategyPortfolioConcentration_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_z5sLDL7RBwO">The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities whose interest is free from federal income taxes, and normally at least 80% of the fund’s income will be exempt from federal income taxes.</span> Any derivatives that provide exposure to the investment focus suggested by the fund’s name, or to one or more market risk factors associated with the investment focus suggested by the fund’s name, are counted (as applicable) toward compliance with the fund’s 80% investment policy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to shareholder approval, the fund’s Board of Directors has approved changing the fund’s 80% investment policy to the following: “The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal bonds whose income is exempt from regular federal income taxes.” If approved by shareholders, the new 80% investment policy is expected to become effective on August 1, 2026. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fund also has a policy that up to 20% of the fund’s income could be derived from securities subject to the alternative minimum tax. Subject to shareholder approval, the fund’s Board of Directors has approved eliminating this policy. If approved by shareholders, the elimination of the alternative minimum tax policy is expected to become effective on August 1, 2026. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because the change to the fund’s 80% investment policy and elimination of the alternative minimum tax policy require shareholder approval to become effective, the changes are being proposed for approval at a special shareholder meeting scheduled for June 25, 2026. All shareholders who held shares of the fund at the close of business on March 27, 2026, are eligible to vote on the proposed changes. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The proposed changes are intended to provide the fund with greater long-term flexibility in executing its investment program, align the policies with the fund’s new name, and reduce potential compliance risks for the fund, although the changes are not expected to substantially affect the way the fund is currently managed. Proxy materials for the special shareholder meeting describe the proposed changes and the rationale in greater detail. If either proposed change is not approved by shareholders, the name change will still become effective on August 1, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fund may invest in securities rated in any rating category, but generally seeks higher-yielding municipal bonds, including those that are rated below investment grade (BB and lower, or an equivalent rating) by credit rating agencies or, if unrated, deemed by the adviser to be of comparable credit quality, known as “junk” bonds. Although the fund may purchase securities of any maturity, the fund normally maintains a weighted average effective maturity of between three and 10 years. Targeting within this range of effective maturity gives the portfolio manager additional flexibility.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, the fund may invest a significant portion of its assets in sectors with special risks, such as health care, transportation, utilities, or private activity bonds.</span></p> The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities whose interest is free from federal income taxes, and normally at least 80% of the fund’s income will be exempt from federal income taxes. The fund’s share price fluctuates, which means you could lose money by investing in the fund. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--MunicipalSecuritiesMember_zyfkxClZF6Gh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Municipal securities: </b>The fund may be highly impacted by events tied to the overall municipal securities markets, which can be very volatile and significantly affected by unfavorable legislative or political developments and adverse changes in the financial conditions of municipal securities issuers and the global, national, and/or local economies. Income from municipal securities held by the fund could become taxable because of changes in tax laws or interpretations by taxing authorities, or noncompliant conduct of a state or municipality. Other changes in tax laws, including changes to individual or corporate tax rates, could alter the attractiveness and overall demand for municipal bonds.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain sectors of the municipal bond market have special risks and could be affected by certain developments more significantly than the market as a whole. For example: health care can be negatively impacted by rising expenses and dependency on third party reimbursements; transportation can be negatively impacted by declining revenues or unexpectedly high construction or fuel costs; utilities are subject to governmental rate regulation; and private activity bonds (including industrial development bonds) rely on project revenues and the creditworthiness of the corporate user as opposed to governmental support. Investing significantly in municipal obligations backed by revenues of similar types of industries or projects may make the fund more susceptible to developments affecting those industries and projects. If the fund invests a substantial amount of its assets in issuers located in a single region, state, or city, there is an increased risk that environmental, economic, political, and social conditions in those regions will have a significant impact on the fund’s investment performance.</span></p> <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketConditionsMember_zsYGWTiUU8Vk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market conditions:</b> The value of the fund’s investments may decrease, sometimes rapidly or unexpectedly, due to factors affecting an issuer held by the fund, particular industries, or the overall securities markets. A variety of factors can increase the volatility of the fund’s holdings and markets generally, including geopolitical developments (such as trade and tariff arrangements, sanctions, and cybersecurity attacks), recessions, inflation, rapid interest rate changes, war, military conflict, acts of terrorism, natural disasters, and outbreaks of infectious illnesses or other widespread public health issues (such as the coronavirus pandemic) and related governmental and public responses. Certain events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic regions, countries, sectors, and industries more significantly than others. Government intervention in markets may impact interest rates, market volatility, and security pricing. These adverse developments may cause broad declines in market value due to short-term market movements or for significantly longer periods during more prolonged market downturns.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditQualityMember_zyNRDC8MuxCa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit quality:</b> An issuer of a debt instrument could suffer an adverse change in financial condition that results in a payment default (failure to make scheduled interest or principal payments), rating downgrade, or inability to meet a financial obligation. Securities that are rated below investment grade carry greater risk of default and should be considered speculative. Economic downturns often result in reduced levels of taxes collected and revenues earned by municipalities and insufficient funding to meet pension or health care obligations, which could lessen the overall financial strength of a municipality and increase the credit risk of the securities it issues. The fund’s credit risk is increased to the extent it invests in securities that are not backed by the taxing power of the municipal issuer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondsMember_zHzJHOBgSIW3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Junk bonds: </b>Investments in bonds that are rated below investment grade, commonly referred to as junk bonds, expose the fund to greater volatility and credit risk than investments in bonds that are rated investment grade. As a result, bonds rated below investment grade carry a higher risk of default and should be considered speculative.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRatesMember_zGUiF3lp2oQh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest rates:</b> A rise in interest rates typically causes the price of a fixed rate debt instrument to fall and its yield to rise. Conversely, a decline in interest rates typically causes the price of a fixed rate debt instrument to rise and the yield to fall. The prices and yields of inflation-linked bonds are directly impacted by the rate of inflation as well as changes in interest rates. Generally, funds with longer weighted average maturities and durations carry greater interest rate risk. Changes in monetary policy made by central banks and/or governments are likely to affect the interest rates or yields of the securities in which the fund invests.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CallableBondsMember_zqaElV4xLfG1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Callable bonds: </b> While a rise in interest rates is the principal source of interest rate risk for bond funds, falling rates bring the possibility that a bond may be “called,” or redeemed before maturity, and that the proceeds may need to be reinvested in lower-yielding securities.</span></p> <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--AlternativeMinimumTaxMember_zW4hU5c4suF2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Alternative minimum tax:</b> Although the fund seeks to distribute tax-exempt income, a portion of the fund’s otherwise tax-exempt dividends may be taxable to those shareholders subject to the federal alternative minimum tax.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityMember_ze3gOJDlzA9c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Liquidity: </b>The fund may not be able to sell a holding in a timely manner at a desired price. Reduced liquidity in the bond markets can result from a number of events, such as limited trading activity, reductions in bond inventory, and rapid or unexpected changes in interest rates. The secondary market for certain municipal bonds tends to be less developed and less liquid than many other bond markets. Less liquid markets could lead to greater price volatility and limit the fund’s ability to sell a holding at a suitable price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveManagementMember_zve5ESwrSC18" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Active management:</b> The fund’s overall investment program and holdings selected by the fund’s investment adviser may underperform the broad markets, relevant indices, or other funds with similar objectives and investment strategies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityBreachesMember_zolmUQdnUsd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cybersecurity breaches:</b> The fund could be harmed by intentional cyberattacks and other cybersecurity breaches, including unauthorized access to the fund’s assets, confidential information, or other proprietary information. In addition, a cybersecurity breach could cause one of the fund’s service providers or financial intermediaries to suffer unauthorized data access, data corruption, or loss of operational functionality.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> Performance <p id="xdx_A87_eoef--PerformanceNarrativeTextBlock_ziDgcPYVD0xl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zsvJMUfA8zia">The following performance information provides some indication of the risks of investing in the fund.</span> <span id="xdx_906_eoef--PerformancePastDoesNotIndicateFuture_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zlnYkhE6sor8">The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span>The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund’s Investor Class. Returns for other share classes vary since they have different expenses.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. Calendar Year Returns  <div id="xdx_A81_eoef--BarChartTableTextBlock_zsJPXJ303G83"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5C_zqdRn17WUv75" style="font: 10pt Times New Roman, Times, Serif; display: none; visibility: hidden; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top; text-align: left"> <td style="width: 50%"> </td> <td id="xdx_482_eoef--AnnlRtrPct_dp_hoef--ClassAxis__custom--C000144520Member_zDCx15Cxi8N1" style="width: 50%"></td></tr> <tr id="xdx_415_20160101__20161231_zxT7xpV0CJJf" style="vertical-align: top; text-align: left"> <td>2016</td> <td>0.85%</td></tr> <tr id="xdx_411_20170101__20171231_ziRm4mcdcZLl" style="vertical-align: top; text-align: left"> <td>2017</td> <td>6.00%</td></tr> <tr id="xdx_412_20180101__20181231_ziNsb6nlI2O2" style="vertical-align: top; text-align: left"> <td>2018</td> <td>1.31%</td></tr> <tr id="xdx_413_20190101__20191231_z8sXiYHc9PW8" style="vertical-align: top; text-align: left"> <td>2019</td> <td>7.05%</td></tr> <tr id="xdx_41C_20200101__20201231_zzcg4DaN5U9k" style="vertical-align: top; text-align: left"> <td>2020</td> <td>2.28%</td></tr> <tr id="xdx_418_20210101__20211231_zHWd2rCZVIfa" style="vertical-align: top; text-align: left"> <td>2021</td> <td>4.76%</td></tr> <tr id="xdx_411_20220101__20221231_zeWJTsRDWL7h" style="vertical-align: top; text-align: left"> <td>2022</td> <td>-8.92%</td></tr> <tr id="xdx_41E_20230101__20231231_zH6Kq0H95epb" style="vertical-align: top; text-align: left"> <td>2023</td> <td>5.33%</td></tr> <tr id="xdx_41C_20240101__20241231_zY5GrsWmYZf3" style="vertical-align: top; text-align: left"> <td>2024</td> <td>4.59%</td></tr> <tr id="xdx_417_20250101__20251231_zxBELZoOa2F5" style="vertical-align: top; text-align: left"> <td>2025</td> <td>5.99%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: Red"><img alt="" src="itf485bpos003.jpg"/></p> 0.0085 0.0600 0.0131 0.0705 0.0228 0.0476 -0.0892 0.0533 0.0459 0.0599 <p id="xdx_A8F_eoef--BarChartClosingTextBlock_z62YlSbNYdQ8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: Red"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: white"> <td style="white-space: nowrap; width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; width: 14%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; width: 15%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarter <br/> Ended</span></td> <td style="white-space: nowrap; width: 13%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return</span></p></td> <td style="white-space: nowrap; width: 1%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; width: 15%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; width: 15%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarter <br/> Ended</span></td> <td style="white-space: nowrap; width: 13%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return</span></p></td> <td style="white-space: nowrap; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: top"> <td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eoef--HighestQuarterlyReturnLabel_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_z8j9XxiGnjS9">Best Quarter</span></span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eoef--BarChartHighestQuarterlyReturnDate_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zqtOLBiFo1ok">12/31/23</span></span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eoef--BarChartHighestQuarterlyReturn_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zEYMZ30XiXj8">4.99%</span></span></td> <td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: -1.2pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eoef--LowestQuarterlyReturnLabel_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_z77BvZxhsf5d">Worst Quarter</span></span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zrA7wn4JsT2g">3/31/22</span></span></td> <td style="white-space: nowrap; background-color: #E6E6E6; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eoef--BarChartLowestQuarterlyReturn_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zAe0SRb71NZ5">-5.57%</span></span></td> <td style="white-space: nowrap; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> Best Quarter 2023-12-31 0.0499 Worst Quarter 2022-03-31 -0.0557 <p id="xdx_A8E_eoef--PerformanceTableNarrativeTextBlock_zDo2rrf4SbM2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span>The following table shows the average annual total returns for each class of the fund that has been in operation for at least one full calendar year. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Bloomberg U.S. Aggregate Bond Index). In addition, the table may also include one or more indexes that align to the fund’s investment strategy.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. <span id="xdx_908_eoef--PerformanceTableUsesHighestFederalRate_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zwb4PK6uE1ob">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_901_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zJ4ZVNLaBYbd">After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.</span> <span id="xdx_905_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zWfsDKroWqg">After-tax returns are shown only for the Investor Class and will differ for other share classes.</span></span></p> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. After-tax returns are shown only for the Investor Class and will differ for other share classes. <p id="xdx_A8C_eoef--PerformanceTableTextBlock_zWkLRkVRod09" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td colspan="10" style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_906_eoef--PerformanceTableHeading_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_gIFPTH-LXDSQB_zRZQbCDDl1yk">Average Annual Total Returns </span></b></span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="12" style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_C03_gIFPTH-LXDSQB_zqqDlE61zDth">Periods ended </span></b></span></td> <td style="border-right: black 1pt solid; white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="12" style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_C05_gIFPTH-LXDSQB_zEENk6Ln2ced">December 31, 2025</span></b></span></td> <td style="border-right: black 1pt solid; white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since</b></span></td> <td style="padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inception</b></span></td> <td style="border-right: black 1pt solid; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1 Year</b></span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5 Years</b></span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10 Years</b></span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>inception</b></span></td> <td style="padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>date</b></span></td> <td style="border-right: black 1pt solid; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor Class</b></span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_900_eoef--PerfInceptionDate_c20140724__20251231__oef--ClassAxis__custom--C000144520Member_zfVMGlVrGa87">07/24/2014</span></b></span></td> <td style="border-right: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; width: 1%; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; width: 1%; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; width: 31%; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Returns before taxes</span></td> <td id="xdx_983_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000144520Member_zzgEW76TOEZ1" style="white-space: nowrap; width: 10%; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.99</span></td> <td style="white-space: nowrap; width: 2%; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="white-space: nowrap; width: 1%; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000144520Member_zXodNYMjMiq9" style="white-space: nowrap; width: 10%; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.19</span></td> <td style="white-space: nowrap; width: 2%; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="white-space: nowrap; width: 1%; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000144520Member_zIQBBZB8fbTi" style="white-space: nowrap; width: 11%; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.82</span></td> <td style="white-space: nowrap; width: 2%; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="white-space: nowrap; width: 1%; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; width: 10%; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="white-space: nowrap; width: 2%; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="white-space: nowrap; width: 14%; background-color: #E6E6E6; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; width: 1%; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Returns after taxes on distributions</span></td> <td id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000144520Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zwMyWtmgjgOb" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.99</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000144520Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z22toWBETIyg" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.17</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000144520Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zlQfvuKiJaS1" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.80</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Returns after taxes on distributions and sale</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="border-left: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of fund shares</span></td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000144520Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zNer3cpKSBZe" style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.13</span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000144520Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z9Qe6SvHDbdi" style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.41</span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--ClassAxis__custom--C000144520Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zNa8pYxCg1lc" style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.86</span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>I Class</b></span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90D_eoef--PerfInceptionDate_c20170706__20251231__oef--ClassAxis__custom--C000193185Member_z3b0Vl5SLUK2">07/06/2017</span></b></span></td> <td style="border-right: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="border-left: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Returns before taxes</span></td> <td id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000193185Member_zbMyRqHNWxH3" style="white-space: nowrap; vertical-align: bottom; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.15</span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000193185Member_zYximEBjXOJf" style="white-space: nowrap; vertical-align: bottom; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.23</span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: top; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eoef--AvgAnnlRtrPct_dp_c20170706__20251231__oef--ClassAxis__custom--C000193185Member_zC0YpPoTUrYh" style="white-space: nowrap; vertical-align: bottom; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.87</span></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: #E6E6E6; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="border-left: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="13" style="white-space: nowrap; vertical-align: top; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bloomberg U.S. Aggregate Bond Index <span id="xdx_90D_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_zrV8V95CKDIk">(reflects no deduction for fees, expenses, or taxes)</span></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexMember_zsQeeHSbgEQ4" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.30</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98D_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexMember_zLYdt1PUTsIa" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-0.36</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexMember_zIa2GDYRAvrf" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.01</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20170706__20251231__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexMember_fYQ_____zFcDganCwlV6" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.82</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">^a </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="13" style="padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="border-left: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="13" style="white-space: nowrap; vertical-align: top; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bloomberg 65% High-Grade/35% High Yield Intermediate Competitive (1-17 Year) Index (reflects no deduction for fees, expenses, or taxes)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--PerformanceMeasureAxis__custom--Bloomberg65PercentageHighGrade35PercentageHighYieldIntermediateCompetitive1To17YearIndexMember_zykNR27zVS1d" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.63</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_981_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--PerformanceMeasureAxis__custom--Bloomberg65PercentageHighGrade35PercentageHighYieldIntermediateCompetitive1To17YearIndexMember_zb6c488GTUFa" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.81</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--PerformanceMeasureAxis__custom--Bloomberg65PercentageHighGrade35PercentageHighYieldIntermediateCompetitive1To17YearIndexMember_zxxCCuC3nA34" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.85</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20170706__20251231__oef--PerformanceMeasureAxis__custom--Bloomberg65PercentageHighGrade35PercentageHighYieldIntermediateCompetitive1To17YearIndexMember_fYQ_____ztqxl9NH94R9" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.95</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">^a </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="border-left: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="13" style="white-space: nowrap; vertical-align: top; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lipper High Yield Municipal Debt Funds Average</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-left: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98D_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--PerformanceMeasureAxis__custom--LipperHighYieldMunicipalDebtFundsAverageMember_z5VHEgrbLwPk" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.59</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98D_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--PerformanceMeasureAxis__custom--LipperHighYieldMunicipalDebtFundsAverageMember_zqla76Vh5rM" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.04</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__oef--PerformanceMeasureAxis__custom--LipperHighYieldMunicipalDebtFundsAverageMember_zneQz1URabnc" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.84</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_dp_c20170630__20251231__oef--PerformanceMeasureAxis__custom--LipperHighYieldMunicipalDebtFundsAverageMember_fYg_____zzpLU8SjL9v1" style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.60</span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">^b </span></td> <td style="white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-right: black 1pt solid; white-space: nowrap; background-color: #E6E6E6; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td> <td style="border-top: black 1pt solid; white-space: nowrap; padding-right: 0.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 6pt"> </span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0%"></td><td style="width: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F0C_zj8HPhKIxvr9">a</sup></span></td><td><span id="xdx_F1F_zvPhyH5RuCD7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return since 7/6/17.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0%"></td><td style="width: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F0D_zS1XJsANOzfb">b</sup></span></td><td><span id="xdx_F15_zyNKiK55BSZb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return since 6/30/17.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> Average Annual Total Returns Periods ended December 31, 2025 2014-07-24 0.0599 0.0219 0.0282 0.0599 0.0217 0.0280 0.0513 0.0241 0.0286 2017-07-06 0.0615 0.0223 0.0287 (reflects no deduction for fees, expenses, or taxes) 0.0730 -0.0036 0.0201 0.0182 0.0463 0.0181 0.0285 0.0295 0.0259 0.0104 0.0284 0.0260 <p id="xdx_A8D_eoef--PerformanceTableClosingTextBlock_zXZvIme57ro4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Updated performance information is available through <span id="xdx_90A_eoef--PerformanceAvailabilityWebSiteAddress_c20260424__20260424__dei--LegalEntityAxis__custom--S000046222Member_z74Eep6JMf09">troweprice.com</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> troweprice.com Subject to certain exceptions and account minimums, accounts are charged an annual $20 fee. T. Rowe Price Associates, Inc., has contractually agreed (through April 30, 2027) to pay the operating expenses of the fund’s I Class excluding management fees; interest; expenses related to borrowings, taxes, and brokerage; nonrecurring, extraordinary expenses; and acquired fund fees and expenses (I Class Operating Expenses), to the extent the I Class Operating Expenses exceed 0.05% of the class’ average daily net assets. The agreement may only be terminated at any time after April 30, 2027, with approval by the fund’s Board of Directors. Any expenses paid under this agreement (and any applicable prior limitations) are subject to reimbursement to T. Rowe Price Associates, Inc., by the class whenever the I Class Operating Expenses are below 0.05%. However, the class will not reimburse T. Rowe Price Associates, Inc., more than three years from the date such amounts were initially waived or paid. The class may only reimburse T. Rowe Price Associates, Inc., if the reimbursement does not cause the I Class Operating Expenses (after the reimbursement is taken into account) to exceed the current expense limitation on I Class Operating Expenses (or the expense limitation in place at the time the amounts were waived or paid). T. Rowe Price Associates, Inc., has contractually agreed (through April 30, 2027) to waive its fees and/or bear any expenses (excluding interest; expenses related to borrowings, taxes, and brokerage; nonrecurring, extraordinary expenses; and acquired fund fees and expenses) that would cause the class’ ratio of expenses to average daily net assets to exceed 0.45%. The agreement may only be terminated at any time after April 30, 2027, with approval by the fund’s Board of Directors. Fees waived and expenses paid under this agreement (and any applicable prior limitations) are subject to reimbursement to T. Rowe Price Associates, Inc., by the class whenever the class’ expense ratio is below 0.45%. However, the class will not reimburse T. Rowe Price Associates, Inc., more than three years from the date such amounts were initially waived or paid. The class may only reimburse T. Rowe Price Associates, Inc., if the reimbursement does not cause the class’ expense ratio (after the reimbursement is taken into account) to exceed the class’ current expense limitation (or the expense limitation in place at the time the amounts were waived or paid). Return since 7/6/17. Return since 6/30/17.