T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX)
The investment seeks to provide, consistent with prudent portfolio management, the highest level of income exempt from federal and New Jersey state income taxes by investing primarily in investment-grade New Jersey 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 New Jersey state income taxes, and at least 80% of the fund's income is expected to be exempt from federal and New Jersey state income taxes. It is non-diversified.
Fund Info
| ISIN | US77957R5072 |
|---|---|
| CUSIP | 77957R507 |
| Issuer | T. Rowe Price |
| Inception Date | Apr 29, 1991 |
| Category | Municipal Bonds |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
NJTFX features an expense ratio of 0.56%, falling within the medium range.
Share Price Chart
Loading data...
Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Popular comparisons: NJTFX vs. PZA, NJTFX vs. FNJHX, NJTFX vs. VTEB, NJTFX vs. MUB, NJTFX vs. FZROX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price New Jersey 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 New Jersey Tax Free Bond Fund had a return of 2.78% year-to-date (YTD) and 8.62% in the last 12 months. Over the past 10 years, T. Rowe Price New Jersey Tax Free Bond Fund had an annualized return of 1.85%, while the S&P 500 had an annualized return of 11.41%, indicating that T. Rowe Price New Jersey Tax Free Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.78% | 25.70% |
| 1 month | -0.25% | 3.51% |
| 6 months | 2.72% | 14.80% |
| 1 year | 8.62% | 37.91% |
| 5 years (annualized) | 1.47% | 14.18% |
| 10 years (annualized) | 1.85% | 11.41% |
Monthly Returns
The table below presents the monthly returns of NJTFX, 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% | 0.16% | 0.09% | -1.06% | 0.21% | 1.77% | 0.80% | 0.64% | 1.21% | -1.20% | 2.78% | ||
| 2023 | 3.23% | -2.08% | 1.89% | 0.13% | -0.64% | 0.79% | 0.32% | -1.09% | -2.64% | -1.61% | 6.14% | 2.41% | 6.70% |
| 2022 | -2.38% | -0.64% | -2.70% | -2.77% | 0.83% | -1.71% | 2.44% | -2.30% | -4.05% | -1.26% | 5.07% | -0.28% | -9.64% |
| 2021 | 0.91% | -1.48% | 0.69% | 1.02% | 0.51% | 0.44% | 0.75% | -0.28% | -0.68% | -0.20% | 0.75% | 0.05% | 2.48% |
| 2020 | 1.70% | 1.25% | -4.55% | -2.36% | 2.89% | 1.55% | 1.88% | -0.12% | 0.13% | -0.18% | 1.59% | 1.29% | 4.93% |
| 2019 | 0.59% | 0.49% | 1.35% | 0.41% | 1.35% | 0.39% | 0.65% | 1.56% | -0.68% | -0.01% | 0.15% | 0.23% | 6.64% |
| 2018 | -0.99% | -0.40% | 0.44% | -0.33% | 1.20% | 0.09% | 0.34% | 0.20% | -0.53% | -0.58% | 0.87% | 1.02% | 1.31% |
| 2017 | 0.25% | 0.61% | 0.28% | 0.67% | 1.35% | -0.13% | 0.49% | 0.93% | -0.39% | 0.25% | -0.15% | 1.03% | 5.31% |
| 2016 | 0.74% | -0.25% | 0.33% | 0.49% | 0.24% | 1.46% | -0.40% | -0.08% | -0.29% | -0.97% | -3.50% | 0.80% | -1.50% |
| 2015 | 1.48% | -1.38% | 0.16% | -1.07% | -0.66% | -0.50% | 0.50% | -0.08% | 0.25% | 0.17% | 0.25% | 0.67% | -0.24% |
| 2014 | 1.84% | 0.86% | 0.00% | 1.02% | 1.01% | -0.25% | -0.00% | 1.17% | -0.08% | 0.41% | -0.25% | 0.50% | 6.38% |
| 2013 | 0.41% | 0.08% | -0.97% | 0.90% | -1.71% | -3.64% | -1.63% | -1.66% | 2.13% | 0.43% | -0.52% | -0.50% | -6.60% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of NJTFX is 63, 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.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price New Jersey Tax Free Bond Fund (NJTFX) 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 New Jersey Tax Free Bond Fund provided a 3.12% dividend yield over the last twelve months, with an annual payout of $0.36 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.36 | $0.32 | $0.30 | $0.30 | $0.37 | $0.35 | $0.37 | $0.38 | $0.13 | $0.00 | $0.00 | $0.00 |
Dividend yield | 3.12% | 2.84% | 2.70% | 2.37% | 2.98% | 2.84% | 3.13% | 3.14% | 1.10% | 0.00% | 0.00% | 0.02% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price New Jersey 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.30 | |
| 2023 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.30 |
| 2021 | $0.02 | $0.02 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.30 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.08 | $0.37 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 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 | $0.38 |
| 2016 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.13 |
| 2015 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2014 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2013 | $0.00 | $0.00 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price New Jersey 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 New Jersey Tax Free Bond Fund was 17.09%, occurring on Dec 15, 2008. Recovery took 899 trading sessions.
The current T. Rowe Price New Jersey Tax Free Bond Fund drawdown is 1.28%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.09% | Jun 16, 2003 | 1383 | Dec 15, 2008 | 899 | Jul 12, 2012 | 2282 |
| -15.42% | Oct 18, 1993 | 286 | Nov 21, 1994 | 819 | Jan 9, 1998 | 1105 |
| -14.77% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -11.71% | Oct 6, 1998 | 420 | May 18, 2000 | 582 | Sep 19, 2002 | 1002 |
| -11.02% | Mar 10, 2020 | 9 | Mar 20, 2020 | 170 | Nov 19, 2020 | 179 |
Volatility
Volatility Chart
The current T. Rowe Price New Jersey Tax Free Bond Fund volatility is 1.62%, 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.