TFBIX Fees and Costs — T. Rowe Price Maryland Tax-Free Bond Fund, I Class
Data updated: 2026-07-28
The net expense ratio is 0.42%: a 0.38% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 26%.
TFBIX Fees and Expenses
Annual operating expenses and sales charges of TFBIX. Prospectus, as of April 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.38% |
| 12b-1 fee | — |
| Other expenses | 0.04% |
| Gross expense ratio | 0.42% |
| Fee waiver | — |
| Net expense ratio | 0.42% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
TFBIX Costs Over Time
On $10,000 invested in TFBIX, assuming 5% a year before costs, total costs come to $266 over 5 years, cutting the return by 0.44% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.42%) | $44 | $138 | $242 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $44 | $145 | $266 |
| Value after costs | $10,456 | $11,431 | $12,497 |
| Impact on return, per year | 0.44% | 0.44% | 0.44% |
TFBIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.2B
- Portfolio turnover (prospectus): 26%
- Securities lending: none during the year
TFBIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD Securities Ltd. | $587.5M | 29.30% |
| J.P. MORGAN SECURITIES LLC | $347.6M | 17.34% |
| BOFA SECURITIES, INC. | $273.9M | 13.66% |
| BARCLAYS CAPITAL INC. | $169.0M | 8.43% |
| Truist Securities, Inc. | $144.5M | 7.21% |
| MORGAN STANLEY & CO. LLC | $125.1M | 6.24% |
| RBC Capital Markets, LLC | $108.6M | 5.42% |
| WELLS FARGO SECURITIES, LLC | $108.5M | 5.41% |
| JEFFERIES LLC | $88.1M | 4.39% |
| GOLDMAN SACHS & CO. LLC | $52.3M | 2.61% |
T. Rowe Price Maryland Tax-Free Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TFBIX | I Class | 0.42% | — |
| MDXBX | T. Rowe Price Maryland Tax-Free Bond Fund | 0.49% | — |
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.