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
US77957R5072
77957R507
Apr 29, 1991
$2,500
Expense Ratio
NJTFX 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 New Jersey Tax Free Bond Fund (NJTFX) returned -1.31% year-to-date (YTD) and 1.48% over the past 12 months. Over the past 10 years, NJTFX returned 1.80% annually, underperforming the S&P 500 benchmark at 10.46%.
NJTFX
-1.31%
0.83%
-1.20%
1.48%
1.74%
1.80%
^GSPC (Benchmark)
-3.77%
7.44%
-5.60%
8.37%
14.12%
10.46%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.37% | 0.87% | -1.83% | -0.61% | -0.09% | -1.31% | |||||||
| 2024 | -0.10% | 0.16% | 0.09% | -1.06% | 0.21% | 1.77% | 0.80% | 0.64% | 1.21% | -1.20% | 1.59% | -1.20% | 2.89% |
| 2023 | 3.22% | -2.08% | 1.89% | 0.13% | -0.64% | 0.79% | 0.32% | -1.09% | -2.64% | -1.61% | 6.13% | 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% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of NJTFX is 40, indicating average performance compared to other mutual funds on our website. Here’s 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 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.
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Dividends
Dividend History
T. Rowe Price New Jersey Tax Free Bond Fund provided a 3.32% dividend yield over the last twelve months, with an annual payout of $0.37 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.37 | $0.36 | $0.32 | $0.30 | $0.30 | $0.37 | $0.35 | $0.37 | $0.38 | $0.13 | $0.00 |
Dividend yield | 3.32% | 3.19% | 2.84% | 2.70% | 2.37% | 2.98% | 2.84% | 3.13% | 3.14% | 1.10% | 0.00% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | $0.02 | $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 |
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 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 2.75%.
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 | 527 | Nov 29, 2024 | 835 |
| -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 chart below shows the rolling one-month volatility.
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