GTFBX vs. TBCIX

Last updated Jun 4, 2026

GTFBX (T. Rowe Price Georgia Tax Free Bond Fund) and TBCIX (T. Rowe Price Blue Chip Growth Fund I Class) are both mutual funds - GTFBX is a Municipal Bonds fund managed by T. Rowe Price, while TBCIX is a Large Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, GTFBX returned 2.29%/yr vs 17.93%/yr for TBCIX. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.56% expense ratio.

Performance

GTFBX vs. TBCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Georgia Tax Free Bond Fund (GTFBX) and T. Rowe Price Blue Chip Growth Fund I Class (TBCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GTFBX achieves a 2.16% return, which is significantly lower than TBCIX's 5.54% return. Over the past 10 years, GTFBX has underperformed TBCIX with an annualized return of 2.29%, while TBCIX has yielded a comparatively higher 17.93% annualized return.

GTFBX

• 1D: 0.18%
• 1M: 1.05%
• YTD: 2.16%
• 6M: 3.01%
• 1Y: 9.56%
• 3Y*: 5.09%
• 5Y*: 1.54%
• 10Y*: 2.29%

TBCIX

• 1D: -0.69%
• 1M: 5.17%
• YTD: 5.54%
• 6M: 5.71%
• 1Y: 22.23%
• 3Y*: 29.00%
• 5Y*: 14.09%
• 10Y*: 17.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GTFBX vs. TBCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GTFBX T. Rowe Price Georgia Tax Free Bond Fund	2.16%	4.97%	3.36%	8.40%	-11.12%	2.56%	4.77%	6.87%	0.55%	4.73%
TBCIX T. Rowe Price Blue Chip Growth Fund I Class	5.54%	18.94%	48.73%	49.61%	-38.48%	18.30%	34.90%	30.30%	2.13%	36.68%

Correlation

The correlation between GTFBX and TBCIX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.02

Return for Risk

GTFBX vs. TBCIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GTFBX

GTFBX Risk / Return Rank: 81
GTFBX Sharpe Ratio Rank: 92
GTFBX Sortino Ratio Rank: 93
GTFBX Omega Ratio Rank: 95
GTFBX Calmar Ratio Rank: 64
GTFBX Martin Ratio Rank: 59

TBCIX

TBCIX Risk / Return Rank: 21
TBCIX Sharpe Ratio Rank: 27
TBCIX Sortino Ratio Rank: 25
TBCIX Omega Ratio Rank: 24
TBCIX Calmar Ratio Rank: 15
TBCIX Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GTFBX vs. TBCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Georgia Tax Free Bond Fund (GTFBX) and T. Rowe Price Blue Chip Growth Fund I Class (TBCIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GTFBX	TBCIX	Difference
Sharpe ratio: Return per unit of total volatility	3.10	1.47	+1.63
Sortino ratio: Return per unit of downside risk	4.80	2.06	+2.74
Omega ratio: Gain probability vs. loss probability	1.80	1.26	+0.54
Calmar ratio: Return relative to maximum drawdown	3.09	1.36	+1.73
Martin ratio: Return relative to average drawdown	11.73	4.57	+7.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GTFBX vs. TBCIX - Sharpe Ratio Comparison

The current GTFBX Sharpe Ratio is 3.10, which is higher than the TBCIX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of GTFBX and TBCIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GTFBX	TBCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	1.47	+1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.59	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.79	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.76	+0.31

Drawdowns

GTFBX vs. TBCIX - Drawdown Comparison

The maximum GTFBX drawdown since its inception was -15.79%, smaller than the maximum TBCIX drawdown of -43.26%. Use the drawdown chart below to compare losses from any high point for GTFBX and TBCIX.

Drawdown Indicators

	GTFBX	TBCIX	Difference
Max Drawdown Largest peak-to-trough decline	-15.79%	-43.26%	+27.47%
Max Drawdown (1Y) Largest decline over 1 year	-3.07%	-16.96%	+13.89%
Max Drawdown (3Y) Largest decline over 3 years	-6.26%	-23.06%	+16.80%
Max Drawdown (5Y) Largest decline over 5 years	-15.79%	-43.26%	+27.47%
Max Drawdown (10Y) Largest decline over 10 years	-15.79%	-43.26%	+27.47%
Current Drawdown Current decline from peak	0.00%	-0.69%	+0.69%
Average Drawdown Average peak-to-trough decline	-2.00%	-8.07%	+6.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	5.01%	-4.20%

Volatility

GTFBX vs. TBCIX - Volatility Comparison

The current volatility for T. Rowe Price Georgia Tax Free Bond Fund (GTFBX) is 1.23%, while T. Rowe Price Blue Chip Growth Fund I Class (TBCIX) has a volatility of 3.57%. This indicates that GTFBX experiences smaller price fluctuations and is considered to be less risky than TBCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTFBX	TBCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	3.57%	-2.34%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	12.01%	-9.68%
Volatility (1Y) Calculated over the trailing 1-year period	3.07%	15.64%	-12.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.48%	23.91%	-19.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.18%	22.76%	-18.58%

GTFBX vs. TBCIX - Expense Ratio Comparison

Both GTFBX and TBCIX have an expense ratio of 0.56%.

Dividends

GTFBX vs. TBCIX - Dividend Comparison

GTFBX's dividend yield for the trailing twelve months is around 4.75%, less than TBCIX's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTFBX T. Rowe Price Georgia Tax Free Bond Fund	4.75%	4.67%	4.13%	3.47%	2.05%	2.10%	2.34%	2.61%	2.91%	2.94%	3.01%	3.22%
TBCIX T. Rowe Price Blue Chip Growth Fund I Class	4.93%	5.20%	18.28%	3.47%	5.84%	10.03%	1.18%	0.59%	2.50%	3.05%	0.81%	0.00%

Frequently Asked Questions

Can I hold both GTFBX and TBCIX in my portfolio?

GTFBX and TBCIX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTFBX or TBCIX?

TBCIX has higher volatility (3.57%) compared to GTFBX (1.23%). In terms of maximum drawdown, GTFBX dropped -15.79% vs TBCIX's -43.26%.

Which has better risk-adjusted returns?

GTFBX currently has the higher Sharpe Ratio (3.10 vs 1.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.