T. Rowe Price MD Tax-Free BondMDXBX

Morningstar Rating

Fund Research and Analysis

by Lawrence Jones

T. Rowe Price Maryland Tax-Free Bond is a top option for this state's investors.

Veteran manager Hugh McGuirk heads T. Rowe's municipal-bond team and runs this fund with the caution that characterizes all the firm's tax-exempt offerings, albeit within Read more

Kudos

The fund boasts a strong long-term record.

Its expense ratio is quite reasonable. Read more

Risks

Emphasis on long-maturity bonds can make the fund sensitive to changing interest rates. Read more

Strategy

This fund stays on a steady course. It doesn't make big interest-rate bets and tends to hold on to older, higher-coupon bonds. To balance the relative rate insensitivity of these bonds, manager Hugh Read more

Management

Manager Hugh McGuirk, who was named head of T. Rowe Price's municipal-bond group in early 2005, has been in charge here since early 2000 and has delivered solid results during his tenure. He also manages T. Rowe Price Virginia Tax-Free Bond PRVAX and Read more

Inside Scoop

This fund is the biggest Maryland muni fund for good reason. Read more

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