# T. Rowe Price Maryland Tax-Free Bond Fund (MDXBX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/mdxbx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: T. Rowe Price · Asset class: Bond - Strategy: Actively Managed · Inception: 1987-03-31 This fund endeavors to generate the highest possible income that is exempt from federal, Maryland state, and local income taxes, all while adhering to sound portfolio management principles. It primarily achieves this objective by investing in high-quality municipal bonds issued within Maryland. Under normal market circumstances, the fund is committed to ensuring that a minimum of 80% of its net assets (including any funds borrowed for investment) are allocated to bonds that offer interest free from federal, Maryland state, and local income taxes. Similarly, at least 80% of the income produc... ## Key Facts | Metric | Value | |---|---| | Price | $9.70 | | Expense Ratio | 0.49% | | Assets Under Management | $2.39B | | NAV | $9.70 | | Holdings Count | — | | Distribution Yield (TTM) | 3.73% | | Annual Distribution (TTM) | $0.36 /share | | Distribution Frequency | Monthly | | 52-Week Range | $9.37 – $10.24 | | Beta | 1.07 | ## Latest Distribution - Amount: $0.0308 /share - Ex-date: 2026-09-29 - Pay date: 2026-09-30 ## Frequently Asked Questions ### What does MDXBX invest in? This fund endeavors to generate the highest possible income that is exempt from federal, Maryland state, and local income taxes, all while adhering to sound portfolio management principles. It primarily achieves this objective by investing in high-quality municipal bonds issued within Maryland. Under normal market circumstances, the fund is committed to ensuring that a minimum of 80% of its net assets (including any funds borrowed for investment) are allocated to bonds that offer interest free from federal, Maryland state, and local income taxes. Similarly, at least 80% of the income produced by the fund is expected to be exempt from these same federal, state, and local taxes. This portfolio is considered non-diversified. ### What is the expense ratio of MDXBX? T. Rowe Price Maryland Tax-Free Bond Fund (MDXBX) charges an expense ratio of 0.49%. This is the annual fee deducted from fund assets to cover management and operations. ### What is MDXBX's dividend yield? MDXBX's trailing-twelve-month yield is 3.73%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of MDXBX? Effective duration measures MDXBX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. MDXBX's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of MDXBX? MDXBX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of MDXBX? Yield to maturity (YTM) is the total return you'd earn from MDXBX if every bond in the portfolio is held to maturity at the current price. MDXBX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does MDXBX pay a dividend? Yes, T. Rowe Price Maryland Tax-Free Bond Fund (MDXBX) distributes dividends to shareholders. The trailing-twelve-month yield is 3.73%. Full dividend history is on this page. ### How often does MDXBX pay dividends? T. Rowe Price Maryland Tax-Free Bond Fund pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is MDXBX's next ex-dividend date? The most recently announced ex-dividend date for MDXBX was 2026-09-29. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will MDXBX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.49% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does MDXBX charge its expense ratio? The expense ratio is deducted in tiny daily slices from MDXBX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does MDXBX cost more than a fund like VOO? MDXBX is actively managed (current expense ratio 0.49%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether MDXBX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to MDXBX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as MDXBX (0.49%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/mdxbx - Distribution history: https://www.dividenddata.com/funds/mdxbx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/mdxbx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/mdxbx/expenses - Peer comparison: https://www.dividenddata.com/funds/mdxbx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.