T. Rowe Price Virginia Tax-Free Bond Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.2%
1 yr return
3.0%
3 Yr Avg Return
-1.2%
5 Yr Avg Return
1.0%
Net Assets
$1.25 B
Holdings in Top 10
13.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.43%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 15.60%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TFBVX - Profile
Distributions
- YTD Total Return -1.2%
- 3 Yr Annualized Total Return -1.2%
- 5 Yr Annualized Total Return 1.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.29%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Monthly
Fund Details
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Legal NameT. Rowe Price Virginia Tax-Free Bond Fund
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Fund Family NameTROWEPRICE
-
Inception DateJul 06, 2017
-
Shares OutstandingN/A
-
Share ClassI
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CurrencyUSD
-
Domiciled CountryUS
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ManagerTimothy Taylor
Fund Description
The fund invests 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 Virginia state income taxes, and at least 80% of the fund’s income is expected to be exempt from federal and Virginia state income taxes. While the fund may buy securities of any maturity, the fund generally seeks longer-term securities. Most investments are in investment-grade securities, which are securities rated in one of the four highest credit rating categories by at least one major credit rating agency or, if unrated, deemed by the adviser to be of comparable quality. However, the fund may invest up to 10% of its total assets in below investment-grade securities, known as “junk” bonds, including those with the lowest credit rating. In addition, up to 20% of the fund’s income could be derived from securities subject to the alternative minimum tax.
In addition to investing in state and local general obligation bonds, the fund may invest a significant portion of its assets in sectors with special risks, such as health care, transportation, and utilities, as well as private activity bonds (including industrial revenue bonds), which are municipal bonds issued by a government agency on behalf of a private sector company and, in most cases, are not backed by the credit of the issuing municipality. It is possible that 25% or more of the fund’s assets could be invested in municipal securities that would tend to respond similarly to particular economic or political developments. For example, the fund may invest in securities of issuers whose revenues are generated from similar types of projects or operate in similar industries. The fund may at times invest more than 25% of its net assets overall in industrial revenue bonds, but investments in industrial revenue bonds related to the same industry may not exceed 25% of the fund’s net assets. Bonds that are refunded with escrowed U.S. government securities are not subject to the 25% limitation. Refunded bonds may have originally been issued as general obligation or revenue bonds, but become “refunded” when they are secured by an escrow fund, usually consisting entirely of direct U.S. government obligations, U.S. government agency obligations, and/or cash.
Due to seasonal variations in the supply of suitable Virginia municipal securities, the fund may invest in other municipal securities whose interest is exempt from federal but not Virginia income taxes. While efforts will be made to minimize such investments, they could comprise up to 10% of the fund’s annual income.
The fund is “nondiversified,” meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a “diversified” fund.
TFBVX - Performance
Return Ranking - Trailing
Period | TFBVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.2% | -5.1% | 9.2% | 67.10% |
1 Yr | 3.0% | -5.0% | 27.9% | 21.17% |
3 Yr | -1.2%* | -11.4% | 2.7% | 42.77% |
5 Yr | 1.0%* | -6.3% | 1101.7% | 21.91% |
10 Yr | N/A* | -0.5% | 248.1% | 31.49% |
* Annualized
Return Ranking - Calendar
Period | TFBVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.4% | -1.4% | 41.0% | 25.18% |
2022 | -12.6% | -39.7% | 0.3% | 65.17% |
2021 | 0.1% | -5.6% | 6.9% | 26.56% |
2020 | 2.6% | -2.6% | 310.0% | 12.56% |
2019 | 3.7% | 0.0% | 26.0% | 54.74% |
Total Return Ranking - Trailing
Period | TFBVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.2% | -5.1% | 9.2% | 67.10% |
1 Yr | 3.0% | -5.0% | 27.9% | 21.17% |
3 Yr | -1.2%* | -11.4% | 2.7% | 42.77% |
5 Yr | 1.0%* | -6.3% | 1101.7% | 21.91% |
10 Yr | N/A* | -0.5% | 248.1% | 30.76% |
* Annualized
Total Return Ranking - Calendar
Period | TFBVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.7% | -1.3% | 41.0% | 22.90% |
2022 | -10.2% | -39.7% | 1.1% | 62.14% |
2021 | 2.5% | -4.8% | 23761504.0% | 26.16% |
2020 | 4.9% | -1.5% | 17057.9% | 17.45% |
2019 | 6.8% | 0.2% | 3514.6% | 42.90% |
NAV & Total Return History
TFBVX - Holdings
Concentration Analysis
TFBVX | Category Low | Category High | TFBVX % Rank | |
---|---|---|---|---|
Net Assets | 1.25 B | 3.22 M | 71.9 B | 24.55% |
Number of Holdings | 332 | 2 | 13067 | 36.63% |
Net Assets in Top 10 | 173 M | -317 M | 3.56 B | 25.37% |
Weighting of Top 10 | 13.70% | 2.0% | 100.2% | 68.98% |
Top 10 Holdings
- METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE 1.75%
- ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 1.58%
- LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY 1.53%
- CITY OF NORFOLK VA WATER REVENUE 1.46%
- HAMPTON ROADS TRANSPORTATION ACCOUNTABILITY COMMISSION 1.40%
- FARMVILLE INDUSTRIAL DEVELOPMENT AUTHORITY 1.29%
- METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES TOLL ROAD REVENUE 1.24%
- ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 1.21%
- PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 1.16%
- VIRGINIA SMALL BUSINESS FINANCING AUTHORITY 1.09%
Asset Allocation
Weighting | Return Low | Return High | TFBVX % Rank | |
---|---|---|---|---|
Bonds | 101.07% | 0.00% | 150.86% | 7.63% |
Stocks | 0.00% | 0.00% | 99.81% | 11.58% |
Preferred Stocks | 0.00% | 0.00% | 0.52% | 93.07% |
Other | 0.00% | -3.18% | 33.35% | 89.45% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 93.05% |
Cash | 0.00% | -50.86% | 46.80% | 96.57% |
Stock Sector Breakdown
Weighting | Return Low | Return High | TFBVX % Rank | |
---|---|---|---|---|
Consumer Cyclical | 100.00% | 0.00% | 100.00% | 14.29% |
Utilities | 0.00% | 0.00% | 0.00% | 78.57% |
Technology | 0.00% | 0.00% | 0.00% | 78.57% |
Real Estate | 0.00% | 0.00% | 0.00% | 78.57% |
Industrials | 0.00% | 0.00% | 100.00% | 78.57% |
Healthcare | 0.00% | 0.00% | 0.00% | 78.57% |
Financial Services | 0.00% | 0.00% | 0.00% | 78.57% |
Energy | 0.00% | 0.00% | 0.00% | 78.57% |
Communication Services | 0.00% | 0.00% | 100.00% | 100.00% |
Consumer Defense | 0.00% | 0.00% | 0.00% | 78.57% |
Basic Materials | 0.00% | 0.00% | 0.00% | 78.57% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | TFBVX % Rank | |
---|---|---|---|---|
US | 0.00% | 0.00% | 99.81% | 11.59% |
Non US | 0.00% | 0.00% | 10.75% | 89.97% |
Bond Sector Breakdown
Weighting | Return Low | Return High | TFBVX % Rank | |
---|---|---|---|---|
Municipal | 99.91% | 44.39% | 100.00% | 16.37% |
Derivative | 0.00% | -3.18% | 23.38% | 87.57% |
Cash & Equivalents | 0.00% | 0.00% | 46.24% | 96.31% |
Securitized | 0.00% | 0.00% | 5.93% | 92.46% |
Corporate | 0.00% | 0.00% | 9.41% | 92.85% |
Government | 0.00% | 0.00% | 52.02% | 93.05% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | TFBVX % Rank | |
---|---|---|---|---|
US | 101.07% | 0.00% | 142.23% | 7.18% |
Non US | 0.00% | 0.00% | 23.89% | 93.79% |
TFBVX - Expenses
Operational Fees
TFBVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.43% | 0.01% | 20.65% | 89.63% |
Management Fee | 0.39% | 0.00% | 1.20% | 37.26% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
TFBVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
TFBVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
TFBVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 15.60% | 0.00% | 283.00% | 43.77% |
TFBVX - Distributions
Dividend Yield Analysis
TFBVX | Category Low | Category High | TFBVX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.39% | 0.00% | 14.28% | 27.43% |
Dividend Distribution Analysis
TFBVX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
TFBVX | Category Low | Category High | TFBVX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.29% | -0.53% | 5.33% | 31.04% |
Capital Gain Distribution Analysis
TFBVX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.031 | DailyAccrualFund |
Feb 29, 2024 | $0.029 | DailyAccrualFund |
Jan 31, 2024 | $0.030 | DailyAccrualFund |
Dec 29, 2023 | $0.032 | DailyAccrualFund |
Nov 30, 2023 | $0.029 | DailyAccrualFund |
Oct 31, 2023 | $0.030 | DailyAccrualFund |
Sep 29, 2023 | $0.030 | DailyAccrualFund |
Aug 31, 2023 | $0.030 | DailyAccrualFund |
Jul 31, 2023 | $0.028 | DailyAccrualFund |
Jun 30, 2023 | $0.030 | DailyAccrualFund |
May 31, 2023 | $0.029 | DailyAccrualFund |
Apr 28, 2023 | $0.026 | DailyAccrualFund |
Mar 31, 2023 | $0.031 | DailyAccrualFund |
Feb 28, 2023 | $0.026 | DailyAccrualFund |
Jan 31, 2023 | $0.027 | DailyAccrualFund |
Dec 30, 2022 | $0.030 | DailyAccrualFund |
Nov 30, 2022 | $0.027 | DailyAccrualFund |
Oct 31, 2022 | $0.026 | DailyAccrualFund |
Sep 30, 2022 | $0.027 | DailyAccrualFund |
Aug 31, 2022 | $0.026 | DailyAccrualFund |
Jul 29, 2022 | $0.026 | DailyAccrualFund |
Jun 30, 2022 | $0.025 | DailyAccrualFund |
May 31, 2022 | $0.025 | DailyAccrualFund |
Apr 29, 2022 | $0.025 | DailyAccrualFund |
Mar 31, 2022 | $0.024 | DailyAccrualFund |
Feb 28, 2022 | $0.021 | DailyAccrualFund |
Jan 31, 2022 | $0.023 | DailyAccrualFund |
Dec 31, 2021 | $0.026 | DailyAccrualFund |
Nov 30, 2021 | $0.023 | DailyAccrualFund |
Oct 29, 2021 | $0.024 | DailyAccrualFund |
Sep 30, 2021 | $0.023 | DailyAccrualFund |
Aug 31, 2021 | $0.023 | DailyAccrualFund |
Jul 30, 2021 | $0.025 | DailyAccrualFund |
Jun 30, 2021 | $0.024 | DailyAccrualFund |
May 28, 2021 | $0.023 | DailyAccrualFund |
Apr 30, 2021 | $0.025 | DailyAccrualFund |
Mar 31, 2021 | $0.025 | DailyAccrualFund |
Feb 26, 2021 | $0.023 | DailyAccrualFund |
Jan 29, 2021 | $0.023 | DailyAccrualFund |
Dec 31, 2020 | $0.028 | DailyAccrualFund |
Nov 30, 2020 | $0.024 | DailyAccrualFund |
Oct 30, 2020 | $0.027 | DailyAccrualFund |
Sep 30, 2020 | $0.025 | DailyAccrualFund |
Aug 31, 2020 | $0.025 | DailyAccrualFund |
Jul 31, 2020 | $0.029 | DailyAccrualFund |
Jun 30, 2020 | $0.027 | DailyAccrualFund |
May 29, 2020 | $0.028 | DailyAccrualFund |
Apr 30, 2020 | $0.027 | DailyAccrualFund |
Mar 31, 2020 | $0.027 | DailyAccrualFund |
Feb 28, 2020 | $0.025 | DailyAccrualFund |
Jan 31, 2020 | $0.029 | DailyAccrualFund |
Dec 31, 2019 | $0.028 | DailyAccrualFund |
Nov 29, 2019 | $0.028 | DailyAccrualFund |
Oct 31, 2019 | $0.028 | DailyAccrualFund |
Sep 30, 2019 | $0.026 | DailyAccrualFund |
Aug 30, 2019 | $0.031 | DailyAccrualFund |
Jul 31, 2019 | $0.030 | DailyAccrualFund |
May 31, 2019 | $0.033 | DailyAccrualFund |
Apr 30, 2019 | $0.030 | DailyAccrualFund |
Mar 29, 2019 | $0.031 | DailyAccrualFund |
Feb 28, 2019 | $0.029 | DailyAccrualFund |
Jan 31, 2019 | $0.031 | DailyAccrualFund |
Dec 31, 2018 | $0.031 | DailyAccrualFund |
Nov 30, 2018 | $0.033 | DailyAccrualFund |
Oct 31, 2018 | $0.032 | DailyAccrualFund |
Aug 31, 2018 | $0.035 | DailyAccrualFund |
Jul 31, 2018 | $0.031 | DailyAccrualFund |
Jun 29, 2018 | $0.032 | DailyAccrualFund |
May 31, 2018 | $0.032 | DailyAccrualFund |
Apr 30, 2018 | $0.031 | DailyAccrualFund |
Mar 29, 2018 | $0.033 | DailyAccrualFund |
Feb 28, 2018 | $0.033 | DailyAccrualFund |
Jan 31, 2018 | $0.031 | DailyAccrualFund |
Dec 29, 2017 | $0.033 | DailyAccrualFund |
Nov 30, 2017 | $0.032 | DailyAccrualFund |
Oct 31, 2017 | $0.030 | DailyAccrualFund |
Sep 29, 2017 | $0.033 | DailyAccrualFund |
Aug 31, 2017 | $0.032 | DailyAccrualFund |
Jul 31, 2017 | $0.026 | DailyAccrualFund |