- What does PRVAX invest in?
- The primary objective of this fund is to generate the highest possible income that is exempt from both federal and Virginia state income taxes. It achieves this by primarily allocating its investments to high-quality municipal bonds issued within Virginia, while adhering to sound portfolio management principles. To uphold this goal, the fund typically ensures that a minimum of 80% of its net assets (including any leveraged positions) are held in bonds offering federal and Virginia tax-exempt interest. Consequently, it anticipates that at least 80% of the income generated will also be exempt from these taxes, under standard market conditions. Notably, the fund operates on a non-diversified basis.
- What is the expense ratio of PRVAX?
- T. Rowe Price Virginia Municipal Bond Fund (PRVAX) charges an expense ratio of 0.56%. This is the annual fee deducted from fund assets to cover management and operations.
- What is PRVAX's dividend yield?
- PRVAX's trailing-twelve-month yield is 3.42%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of PRVAX?
- Effective duration measures PRVAX's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PRVAX's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of PRVAX?
- PRVAX'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 PRVAX?
- Yield to maturity (YTM) is the total return you'd earn from PRVAX if every bond in the portfolio is held to maturity at the current price. PRVAX'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.
