PRMDX Performance — T. Rowe Price Maryland Short-Term Tax-Free Bond Fund
Data updated: 2026-07-28
PRMDX returned +0.85% year to date and +3.19% over one year to May 2026. Annualised returns are +3.14% over 3 years and +1.52% over 5 years. The fund trailed its Short-Term Municipal Bond category average: $100 invested three years ago grew to $110, against $111 for the category, and to $103 over one year, against $104. Volatility over the past three years was 1.66% a year. In the 12 months to May 2026 the fund took in a net $17.6M, and assets reached $180.40M.
PRMDX Growth of $100
What $100 invested in T. Rowe Price Maryland Short-Term Tax-Free Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | PRMDX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $103 | $104 |
| 3 years (Jun 2023 – May 2026) | $110 | $111 |
| 5 years (Jun 2021 – May 2026) | $108 | $108 |
| Since data start (Sep 2019 – May 2026) | $110 | $112 |
PRMDX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.85% |
| 1 year | +3.19% |
| 3 years (annualised) | +3.14% |
| 5 years (annualised) | +1.52% |
PRMDX Annual Returns
Calendar-year total returns of T. Rowe Price Maryland Short-Term Tax-Free Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.85% |
| 2025 | +3.59% |
| 2024 | +2.02% |
| 2023 | +3.34% |
| 2022 | −2.05% |
| 2021 | +0.31% |
| 2020 | +1.14% |
| 2019 (Sep–Dec) | +0.05% |
PRMDX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.4% | +0.4% | −0.4% | +0.2% | +0.2% | — | — | — | — | — | — | — |
| 2025 | +0.6% | +0.4% | −0.2% | 0.0% | +0.4% | +0.6% | +0.6% | +0.4% | +0.2% | −0.1% | +0.2% | +0.4% |
| 2024 | 0.0% | 0.0% | 0.0% | −0.2% | 0.0% | +0.6% | +0.6% | +1.0% | +0.4% | −0.6% | +0.6% | −0.4% |
| 2023 | +1.1% | −1.1% | +1.1% | −0.3% | −0.5% | +0.5% | +0.1% | 0.0% | −0.6% | +0.2% | +2.0% | +0.8% |
| 2022 | −0.9% | −0.2% | −0.9% | −0.5% | +0.9% | −0.3% | +1.1% | −1.3% | −1.3% | −0.1% | +1.5% | +0.1% |
| 2021 | +0.3% | −0.1% | +0.1% | +0.1% | +0.1% | +0.1% | +0.2% | −0.1% | −0.1% | −0.1% | 0.0% | 0.0% |
| 2020 | +0.5% | +0.3% | −1.0% | −0.7% | +1.1% | +0.1% | +0.5% | −0.1% | +0.1% | +0.1% | +0.1% | +0.3% |
| 2019 | — | — | — | — | — | — | — | — | −0.3% | +0.1% | +0.1% | +0.1% |
PRMDX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 1.66%
- 3-year Sharpe ratio: -0.82 (vs 4.5% risk-free rate)
- Best month: +1.98% (Nov 2023)
- Worst month: −0.64% (Sep 2023)
PRMDX Fund Flows
Monthly money in and out of T. Rowe Price Maryland Short-Term Tax-Free Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $17.6M
- 12-month gross sales (incl. reinvestments): $53.3M
- Sales ÷ redemptions: 1.49×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $5.5M | $8.6M | −$3.1M |
| Apr 2026 | $3.4M | $4.9M | −$1.5M |
| Mar 2026 | $1.4M | $2.9M | −$1.5M |
| Feb 2026 | $4.9M | $1.5M | $3.4M |
| Jan 2026 | $3.2M | $1.5M | $1.8M |
| Dec 2025 | $6.7M | $2.2M | $4.6M |
| Nov 2025 | $2.0M | $2.2M | −$156K |
| Oct 2025 | $3.5M | $2.3M | $1.2M |
| Sep 2025 | $3.3M | $1.9M | $1.3M |
| Aug 2025 | $7.5M | $3.6M | $4.0M |
| Jul 2025 | $8.2M | $2.2M | $6.0M |
| Jun 2025 | $3.6M | $2.0M | $1.6M |
PRMDX Assets Under Management
Net assets of T. Rowe Price Maryland Short-Term Tax-Free Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $180.40M |
| 2026-02-28 | $187.94M |
| 2025-11-30 | $177.04M |
| 2025-08-31 | $175.24M |
| 2025-05-31 | $162.07M |
| 2025-02-28 | $164.39M |
| 2024-11-30 | $157.39M |
| 2024-08-31 | $158.80M |
| 2024-05-31 | $157.20M |
| 2024-02-29 | $153.41M |
| 2023-11-30 | $150.60M |
| 2023-08-31 | $154.86M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.