T. Rowe Price Maryland Tax-Free Bond I (TFBIX)
| Fund Assets | 2.27B |
| Expense Ratio | 0.41% |
| Min. Investment | $500,000 |
| Turnover | 17.30% |
| Dividend (ttm) | 0.35 |
| Dividend Yield | 3.57% |
| Dividend Growth | 4.77% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jul 31, 2025 |
| Previous Close | 9.74 |
| YTD Return | -2.83% |
| 1-Year Return | -2.52% |
| 5-Year Return | 0.65% |
| 52-Week Low | 9.55 |
| 52-Week High | 10.30 |
| Beta (5Y) | n/a |
| Holdings | 621 |
| Inception Date | Jul 6, 2017 |
About TFBIX
T. Rowe Price Maryland Tax‑Free Bond Fund I Class is an open‑end municipal bond mutual fund designed to generate income that is generally exempt from federal and Maryland state and local income taxes. The fund normally invests at least 80% of net assets in investment‑grade Maryland municipal bonds, with a focus on longer‑term securities to enhance tax‑exempt income potential. It targets sectors tied to the state’s public finance ecosystem—such as transportation, housing, health and higher education, and local government issuers—reflecting the revenue base of Maryland’s economy. The portfolio’s interest‑rate profile is positioned in the intermediate‑to‑long range, as indicated by its effective/moderate duration and weighted average maturity metrics, aligning it with the muni single‑state long category. Managed by T. Rowe Price, the I Class emphasizes cost efficiency for institutional or large investors through a lower expense structure relative to other share classes. The fund serves investors seeking state‑specific tax efficiency and municipal market exposure, while concentrating credit and economic risk in Maryland’s municipal market under a disciplined, research‑driven process.
Performance
TFBIX had a total return of -2.52% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.46%.
Top 10 Holdings
10.53% of assets| Name | Symbol | Weight |
|---|---|---|
| MARYLAND ST STAD AUTH REV 5% | MD.MDSFAC 5 05.01.2050 | 1.91% |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV 3% | MD.MDSDEV 3 09.01.2051 | 1.32% |
| MARYLAND ST ECONOMIC DEV CORP PRIVATE ACTIVITY REV 5.25% | MD.MDSDEV 5.25 06.30.2055 | 1.28% |
| MONTGOMERY CNTY MD HSG OPPNTYS COMMN MULTIFAMILY HSG & RECONSTR DEV REV 2.8 | MD.MONMFH 2.85 01.01.2051 | 1.02% |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.329% | PR.PRCGEN 4.33 07.01.2040 | 0.91% |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.75% | PR.PRCGEN 4.75 07.01.2053 | 0.88% |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 5.5% | MD.MDSMED 5.5 01.01.2046 | 0.82% |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 5.25% | MD.MDSMED 5.25 08.15.2038 | 0.81% |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% | PR.PRCGEN 5 07.01.2058 | 0.80% |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 5.25% | MD.MDSMED 5.25 01.01.2037 | 0.78% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jul 31, 2025 | $0.03014 | Jul 31, 2025 |
| Jun 30, 2025 | $0.02832 | Jun 30, 2025 |
| May 30, 2025 | $0.03114 | May 30, 2025 |
| Apr 30, 2025 | $0.02938 | Apr 30, 2025 |
| Mar 31, 2025 | $0.02802 | Mar 31, 2025 |
| Feb 28, 2025 | $0.02657 | Feb 28, 2025 |