T. Rowe Price Georgia Tax Free Bond Fund (GTFBX)
The investment seeks to provide, consistent with prudent portfolio management, the highest level of income exempt from federal and Georgia state income taxes by investing primarily in investment-grade Georgia municipal bonds. The fund will invest so that, under normal market conditions, at least 80% of its net assets (including any borrowings for investment purposes) are invested in bonds that pay interest exempt from federal and Georgia state income taxes, and at least 80% of the fund's income is expected to be exempt from federal and Georgia state income taxes. It is non-diversified.
Fund Info
| ISIN | US77957R7052 |
|---|---|
| CUSIP | 77957R705 |
| Issuer | T. Rowe Price |
| Inception Date | Mar 30, 1993 |
| Category | Municipal Bonds |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
GTFBX has a high expense ratio of 0.56%, indicating higher-than-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Georgia Tax Free Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
T. Rowe Price Georgia Tax Free Bond Fund had a return of 0.16% year-to-date (YTD) and 4.36% in the last 12 months. Over the past 10 years, T. Rowe Price Georgia Tax Free Bond Fund had an annualized return of 2.29%, while the S&P 500 had an annualized return of 10.84%, indicating that T. Rowe Price Georgia Tax Free Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 0.16% | 10.00% |
| 1 month | 0.83% | 2.41% |
| 6 months | 6.13% | 16.70% |
| 1 year | 4.36% | 26.85% |
| 5 years (annualized) | 1.38% | 12.81% |
| 10 years (annualized) | 2.29% | 10.84% |
Monthly Returns
The table below presents the monthly returns of GTFBX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.10% | 0.17% | 0.10% | -1.20% | 0.16% | ||||||||
| 2023 | 3.77% | -2.46% | 1.79% | 0.14% | -0.48% | 0.84% | 0.15% | -0.95% | -3.04% | -1.77% | 7.18% | 2.91% | 7.91% |
| 2022 | -2.41% | -0.60% | -2.99% | -2.99% | 0.94% | -2.24% | 2.84% | -2.50% | -4.14% | -1.42% | 5.82% | -0.90% | -10.50% |
| 2021 | 0.58% | -1.42% | 0.77% | 0.94% | 0.50% | 0.50% | 0.68% | -0.33% | -0.66% | -0.07% | 0.84% | 0.20% | 2.54% |
| 2020 | 1.66% | 1.36% | -4.04% | -1.71% | 2.95% | 1.14% | 1.58% | -0.24% | 0.27% | -0.31% | 1.54% | 0.63% | 4.76% |
| 2019 | 0.50% | 0.49% | 1.56% | 0.40% | 1.29% | 0.37% | 0.65% | 1.85% | -0.82% | 0.04% | 0.12% | 0.21% | 6.85% |
| 2018 | -1.15% | -0.36% | 0.43% | -0.38% | 0.96% | 0.07% | 0.06% | 0.18% | -0.58% | -0.65% | 0.98% | 1.04% | 0.55% |
| 2017 | 0.15% | 0.70% | 0.18% | 0.58% | 1.39% | -0.17% | 0.58% | 0.69% | -0.34% | 0.06% | -0.28% | 1.13% | 4.74% |
| 2016 | 1.08% | -0.00% | 0.50% | 0.76% | 0.32% | 1.76% | -0.19% | 0.07% | -0.50% | -1.13% | -3.68% | 1.08% | -0.02% |
| 2015 | 1.73% | -0.91% | 0.44% | -0.49% | -0.24% | -0.23% | 0.90% | 0.25% | 0.53% | 0.27% | 0.50% | 0.71% | 3.48% |
| 2014 | 2.11% | 0.92% | 0.28% | 1.35% | 1.33% | 0.02% | 0.27% | 1.23% | 0.28% | 0.72% | 0.09% | 0.64% | 9.61% |
| 2013 | 0.52% | 0.27% | -0.42% | 1.04% | -1.44% | -3.53% | -1.06% | -1.17% | 2.42% | 0.83% | -0.25% | -0.07% | -2.94% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of GTFBX is 28, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
GTFBX (T. Rowe Price Georgia Tax Free Bond Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price Georgia Tax Free Bond Fund (GTFBX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
T. Rowe Price Georgia Tax Free Bond Fund granted a 3.18% dividend yield in the last twelve months. The annual payout for that period amounted to $0.35 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.35 | $0.33 | $0.29 | $0.25 | $0.28 | $0.30 | $0.33 | $0.34 | $0.34 | $0.38 | $0.38 | $0.38 |
Dividend yield | 3.18% | 3.03% | 2.75% | 2.09% | 2.33% | 2.60% | 2.91% | 2.95% | 3.03% | 3.22% | 3.29% | 3.43% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Georgia Tax Free Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.12 | |||||||
| 2023 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.29 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2020 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
| 2019 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.30 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Georgia Tax Free Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Georgia Tax Free Bond Fund was 15.22%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current T. Rowe Price Georgia Tax Free Bond Fund drawdown is 3.29%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.22% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -12.74% | Jan 24, 2008 | 185 | Oct 16, 2008 | 140 | May 8, 2009 | 325 |
| -12.25% | Feb 1, 1994 | 210 | Nov 21, 1994 | 103 | Apr 13, 1995 | 313 |
| -10.84% | Mar 10, 2020 | 9 | Mar 20, 2020 | 98 | Aug 10, 2020 | 107 |
| -8.08% | Oct 1, 2010 | 75 | Jan 18, 2011 | 135 | Aug 1, 2011 | 210 |
Volatility
Volatility Chart
The current T. Rowe Price Georgia Tax Free Bond Fund volatility is 0.86%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.