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
US77957R7052
77957R705
Mar 30, 1993
$2,500
Expense Ratio
GTFBX has an expense ratio of 0.56%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
T. Rowe Price Georgia Tax Free Bond Fund (GTFBX) returned -2.05% year-to-date (YTD) and 1.73% over the past 12 months. Over the past 10 years, GTFBX returned 1.90% annually, underperforming the S&P 500 benchmark at 10.84%.
GTFBX
-2.05%
-0.28%
-3.19%
1.73%
1.71%
0.80%
1.90%
^GSPC (Benchmark)
0.52%
6.32%
-1.44%
12.25%
12.45%
14.20%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.10% | 0.99% | -1.83% | -0.65% | -0.66% | -2.05% | |||||||
| 2024 | -0.10% | 0.17% | 0.10% | -1.20% | 0.12% | 2.03% | 0.82% | 0.48% | 1.16% | -1.44% | 1.84% | -1.43% | 2.49% |
| 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% | 0.95% | -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% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of GTFBX is 21, meaning it’s performing worse than 79% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
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.
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Dividends
Dividend History
T. Rowe Price Georgia Tax Free Bond Fund provided a 3.41% dividend yield over the last twelve months, with an annual payout of $0.36 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.36 | $0.36 | $0.33 | $0.29 | $0.25 | $0.28 | $0.30 | $0.33 | $0.34 | $0.34 | $0.38 | $0.38 |
Dividend yield | 3.41% | 3.28% | 3.03% | 2.74% | 2.09% | 2.33% | 2.60% | 2.91% | 2.95% | 3.03% | 3.22% | 3.29% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.12 | |||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 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 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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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. Recovery took 483 trading sessions.
The current T. Rowe Price Georgia Tax Free Bond Fund drawdown is 3.80%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.22% | Aug 6, 2021 | 308 | Oct 25, 2022 | 483 | Sep 27, 2024 | 791 |
| -12.75% | 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 |
| -8.09% | Oct 1, 2010 | 75 | Jan 18, 2011 | 135 | Aug 1, 2011 | 210 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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