T. Rowe Price Maryland Short-Term Tax-Free Bond Fund (PRMDX)
Ticker Symbol:
PRMDX
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  February
Morningstar Category  Muni Single State Short
Inception Date 01/29/1993
Tax ID 52-1808148
Investment Objective
The fund provides the highest level of income exempt from federal and Maryland state and local income taxes, consistent with modest fluctuation in principal value.
Strategy
Invests at least 80% of net assets in Maryland municipal bonds. The fundís weighted average maturity will not exceed three years, but there is no maturity limit on individual securities.
Availability
DC, DE, FL, GA, HI, IL, MD, NC, NJ, PA, VA, VT, WV, WY
Risk/Reward Potential*
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Higher
Moderate
Lower
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The fund offers Maryland investors triple-tax-free income. The fund's focus on short-term securities should keep price fluctuations modest, while offering higher yields and price fluctuation than municipal money market funds and less potential share price fluctuation and lower yields than the T. Rowe Price Maryland Tax-Free Bond Fund.

Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise 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 may have their credit rating downgraded or may default. The fund is less diversified than one investing 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.