T. Rowe Price New Jersey Tax-Free Bond Fund (NJTFX)
Ticker Symbol:
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  February
Morningstar Category  Muni New Jersey
Inception Date 04/30/1991
Tax ID 52-6483303
Investment Objective
The fund's investment objective is to provide the highest level of income exempt from federal and New Jersey state income taxes by investing primarily in investment-grade New Jersey municipal bonds.
Invests at least 80% of net assets in New Jersey municipal bonds. The fundís weighted average maturity is expected to exceed 10 years.
Risk/Reward Potential*
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The fund offers New Jersey investors double-tax-free income. It focuses on long-term securities to provide high yields. Assets are concentrated in investment-grade New Jersey municipal bonds to help reduce credit risk.

Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also a chance that some of the fund's holdings will have their credit ratings downgraded or will default. The fund is less diversified than a municipal bond portfolio that invests nationally.
* Annually we evaluate the standard deviation of each US mutual fund listed and its resulting placement within specific risk/return categories.

Methodology: If a fund is at least 5 year old, it is generally placed in risk/return categories based on the standard deviation of its performance for the longest period of its calendar year returns; the longest time period used for analysis is 10 years (regardless of the fund's inception). If a fund is less than 5 years old, we generally use the fund's primary benchmark disclosed in its prospectus as a proxy and follow the same process of using 10-year standard deviation of the benchmark, or longest time period available. The firm at its sole discretion may show a fund in a higher risk category based on qualitative or other factors that may differ from this methodology.
See Glossary for additional details on all data elements.