TFBVX Performance — T. Rowe Price Virginia Tax-Free Bond Fund, I Class
Data updated: 2026-07-28
TFBVX returned +1.97% year to date and +7.85% over one year to May 2026. Annualised returns are +4.27% over 3 years and +0.96% over 5 years. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $113, against $112 for the category, and to $108 over one year, against $107. Volatility over the past three years was 6.38% a year. In the 12 months to May 2026 the fund took in a net $145.2M, and assets reached $1.49B.
TFBVX Growth of $100
What $100 invested in T. Rowe Price Virginia Tax-Free Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | TFBVX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $108 | $107 |
| 3 years (Jun 2023 – May 2026) | $113 | $112 |
| 5 years (Jun 2021 – May 2026) | $105 | $103 |
| Since data start (Sep 2019 – May 2026) | $112 | $109 |
TFBVX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.97% |
| 1 year | +7.85% |
| 3 years (annualised) | +4.27% |
| 5 years (annualised) | +0.96% |
TFBVX Annual Returns
Calendar-year total returns of T. Rowe Price Virginia Tax-Free Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.97% |
| 2025 | +3.16% |
| 2024 | +2.71% |
| 2023 | +6.73% |
| 2022 | −10.18% |
| 2021 | +2.47% |
| 2020 | +5.34% |
| 2019 (Sep–Dec) | −0.23% |
TFBVX 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 | +0.6% | +1.6% | −2.0% | +1.3% | +0.6% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.1% | −2.1% | −1.0% | −0.6% | +0.7% | −0.8% | +1.1% | +3.2% | +1.4% | +0.2% | 0.0% |
| 2024 | −0.2% | +0.2% | +0.1% | −1.2% | +0.1% | +2.0% | +0.9% | +0.7% | +1.3% | −1.5% | +1.8% | −1.5% |
| 2023 | +3.3% | −2.6% | +1.9% | −0.1% | −0.6% | +0.9% | +0.3% | −1.5% | −3.0% | −1.9% | +7.2% | +3.1% |
| 2022 | −2.2% | −0.7% | −3.2% | −3.3% | +1.5% | −2.2% | +2.8% | −2.7% | −4.3% | −1.2% | +5.6% | −0.4% |
| 2021 | +0.6% | −1.4% | +0.5% | +0.9% | +0.6% | +0.4% | +0.8% | −0.4% | −0.7% | −0.1% | +0.9% | +0.2% |
| 2020 | +1.6% | +1.4% | −4.1% | −1.9% | +3.5% | +1.3% | +1.6% | −0.1% | 0.0% | −0.1% | +1.6% | +0.7% |
| 2019 | — | — | — | — | — | — | — | — | −0.6% | 0.0% | +0.2% | +0.2% |
TFBVX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.38%
- 3-year Sharpe ratio: -0.04 (vs 4.5% risk-free rate)
- Best month: +7.20% (Nov 2023)
- Worst month: −3.04% (Sep 2023)
TFBVX Fund Flows
Monthly money in and out of T. Rowe Price Virginia Tax-Free Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $145.2M
- 12-month gross sales (incl. reinvestments): $424.6M
- Sales ÷ redemptions: 1.52×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $36.9M | $19.6M | $17.3M |
| Apr 2026 | $32.2M | $15.2M | $17.0M |
| Mar 2026 | $27.8M | $17.4M | $10.5M |
| Feb 2026 | $42.4M | $17.9M | $24.5M |
| Jan 2026 | $47.6M | $23.3M | $24.3M |
| Dec 2025 | $43.4M | $28.0M | $15.4M |
| Nov 2025 | $30.0M | $22.5M | $7.5M |
| Oct 2025 | $30.0M | $20.9M | $9.1M |
| Sep 2025 | $36.3M | $18.0M | $18.2M |
| Aug 2025 | $25.7M | $33.5M | −$7.8M |
| Jul 2025 | $34.3M | $29.2M | $5.1M |
| Jun 2025 | $38.0M | $33.9M | $4.1M |
TFBVX Assets Under Management
Net assets of T. Rowe Price Virginia Tax-Free Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.49B |
| 2026-02-28 | $1.46B |
| 2025-11-30 | $1.37B |
| 2025-08-31 | $1.29B |
| 2025-05-31 | $1.29B |
| 2025-02-28 | $1.35B |
| 2024-11-30 | $1.34B |
| 2024-08-31 | $1.30B |
| 2024-05-31 | $1.25B |
| 2024-02-29 | $1.26B |
| 2023-11-30 | $1.22B |
| 2023-08-31 | $1.23B |
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.