Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
7.9%
1 yr return
9.5%
3 Yr Avg Return
6.6%
5 Yr Avg Return
5.4%
Net Assets
$4.31 B
Holdings in Top 10
22.3%
Expense Ratio 0.70%
Front Load N/A
Deferred Load N/A
Turnover 62.60%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in floating rate loans and floating rate debt securities.
Floating rate loans represent amounts borrowed by companies or other entities from banks and other lenders. Most, if not all, of the loans in which the fund invests are rated below investment grade (below BBB, or an equivalent rating) or are not rated by credit rating agencies (commonly referred to as “high yield” or “junk” bonds). The loans in which the fund invests may be referred to as “leveraged loans” because the borrowing companies often have significantly more debt than equity.
The loans held by the fund may be senior or subordinate obligations of the borrower, although the fund normally invests the majority of its assets in senior floating rate loans. In the event of bankruptcy, holders of senior floating rate loans are typically paid (to the extent assets are available) before other creditors of the borrower, such as bondholders and stockholders. Holders of subordinate loans may be paid after more senior bondholders. Loans may or may not be secured by collateral. There is no limit on the fund’s investments in unsecured loans or in companies involved in bankruptcy proceedings, reorganizations, or financial restructurings.
Floating rate loans have interest rates that reset periodically (typically quarterly or monthly). Floating rate loans may be structured and administered by a financial institution that acts as the agent of the lenders participating in the floating rate loan. The fund may acquire floating rate loans directly from a lender or through the agent, as an assignment from another lender who holds a floating rate loan, or as a participation interest in another lender’s floating rate loan or portion thereof.
Most assets are typically be invested in U.S. dollar-denominated floating rate loans and debt instruments, including U.S. dollar-denominated bonds or loans of foreign issuers or lenders. The fund may also invest up to 20% of its total assets in non-U.S. dollar-denominated investments.
Period | PFFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.9% | -3.9% | 10.1% | 44.15% |
1 Yr | 9.5% | -3.7% | 14.0% | 24.15% |
3 Yr | 6.6%* | -7.0% | 8.3% | 10.89% |
5 Yr | 5.4%* | -6.1% | 38.4% | 17.01% |
10 Yr | 4.6%* | -2.2% | 19.8% | 8.24% |
* Annualized
Period | PFFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.1% | -12.0% | 11.1% | 49.06% |
2022 | -5.9% | -22.9% | 5.1% | 22.09% |
2021 | 0.7% | -12.2% | 11.1% | 69.84% |
2020 | -2.0% | -14.1% | 289.8% | 32.23% |
2019 | 3.3% | -8.1% | 7.5% | 29.79% |
Period | PFFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.9% | -3.9% | 10.1% | 44.15% |
1 Yr | 9.5% | -3.7% | 14.0% | 24.15% |
3 Yr | 6.6%* | -7.0% | 8.3% | 10.89% |
5 Yr | 5.4%* | -6.1% | 38.4% | 17.01% |
10 Yr | 4.6%* | -2.2% | 19.8% | 8.24% |
* Annualized
Period | PFFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.3% | -12.0% | 22.1% | 52.45% |
2022 | -0.8% | -22.9% | 5.1% | 16.67% |
2021 | 4.6% | -10.2% | 11.1% | 53.17% |
2020 | 2.3% | -14.1% | 306.9% | 34.30% |
2019 | 8.7% | -3.6% | 10.5% | 21.70% |
PFFRX | Category Low | Category High | PFFRX % Rank | |
---|---|---|---|---|
Net Assets | 4.31 B | 29.9 M | 13.5 B | 12.74% |
Number of Holdings | 297 | 2 | 2051 | 64.20% |
Net Assets in Top 10 | 923 M | -191 M | 2.37 B | 5.06% |
Weighting of Top 10 | 22.31% | 5.2% | 100.7% | 16.02% |
Weighting | Return Low | Return High | PFFRX % Rank | |
---|---|---|---|---|
Bonds | 96.47% | 0.00% | 161.82% | 36.96% |
Cash | 5.19% | -61.90% | 16.36% | 28.40% |
Stocks | 0.10% | 0.00% | 100.74% | 83.66% |
Other | 0.04% | -52.39% | 26.58% | 41.63% |
Preferred Stocks | 0.00% | -3.99% | 7.54% | 61.87% |
Convertible Bonds | 0.00% | 0.00% | 5.51% | 60.78% |
Weighting | Return Low | Return High | PFFRX % Rank | |
---|---|---|---|---|
Utilities | 100.00% | 0.00% | 100.00% | 1.74% |
Technology | 0.00% | 0.00% | 100.00% | 53.04% |
Real Estate | 0.00% | 0.00% | 48.61% | 41.74% |
Industrials | 0.00% | 0.00% | 100.00% | 67.83% |
Healthcare | 0.00% | 0.00% | 100.00% | 40.00% |
Financial Services | 0.00% | 0.00% | 89.61% | 42.61% |
Energy | 0.00% | 0.00% | 100.00% | 72.17% |
Communication Services | 0.00% | 0.00% | 100.00% | 73.04% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 54.78% |
Consumer Cyclical | 0.00% | 0.00% | 97.66% | 58.26% |
Basic Materials | 0.00% | 0.00% | 1.36% | 40.87% |
Weighting | Return Low | Return High | PFFRX % Rank | |
---|---|---|---|---|
US | 0.10% | -0.01% | 100.74% | 81.71% |
Non US | 0.00% | 0.00% | 0.68% | 52.53% |
Weighting | Return Low | Return High | PFFRX % Rank | |
---|---|---|---|---|
Corporate | 90.40% | 0.00% | 99.80% | 40.78% |
Cash & Equivalents | 5.19% | 0.00% | 25.03% | 25.68% |
Derivative | 0.04% | -11.46% | 0.67% | 24.51% |
Securitized | 0.00% | 0.00% | 91.68% | 67.06% |
Municipal | 0.00% | 0.00% | 0.47% | 42.35% |
Government | 0.00% | 0.00% | 3.18% | 51.37% |
Weighting | Return Low | Return High | PFFRX % Rank | |
---|---|---|---|---|
US | 95.92% | 0.00% | 124.50% | 31.91% |
Non US | 0.55% | 0.00% | 63.23% | 42.41% |
PFFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.70% | 0.03% | 5.51% | 91.67% |
Management Fee | 0.55% | 0.00% | 1.89% | 19.70% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.15% | 0.02% | 0.27% | 71.11% |
PFFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
PFFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 19.05% |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
PFFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 62.60% | 4.00% | 180.00% | 52.89% |
PFFRX | Category Low | Category High | PFFRX % Rank | |
---|---|---|---|---|
Dividend Yield | 7.92% | 0.00% | 11.13% | 36.60% |
PFFRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
PFFRX | Category Low | Category High | PFFRX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.01% | 1.77% | 9.82% | 26.09% |
PFFRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Oct 30, 2024 | $0.063 | OrdinaryDividend |
Sep 27, 2024 | $0.060 | OrdinaryDividend |
Aug 29, 2024 | $0.072 | OrdinaryDividend |
Jul 30, 2024 | $0.068 | OrdinaryDividend |
Apr 29, 2024 | $0.067 | OrdinaryDividend |
Mar 28, 2024 | $0.069 | OrdinaryDividend |
Feb 28, 2024 | $0.065 | OrdinaryDividend |
Jan 30, 2024 | $0.070 | OrdinaryDividend |
Dec 28, 2023 | $0.073 | OrdinaryDividend |
Nov 29, 2023 | $0.069 | OrdinaryDividend |
Oct 30, 2023 | $0.068 | OrdinaryDividend |
Sep 28, 2023 | $0.071 | OrdinaryDividend |
Aug 30, 2023 | $0.072 | OrdinaryDividend |
Jul 28, 2023 | $0.066 | OrdinaryDividend |
Jun 29, 2023 | $0.070 | OrdinaryDividend |
May 30, 2023 | $0.070 | OrdinaryDividend |
Apr 27, 2023 | $0.059 | OrdinaryDividend |
Mar 30, 2023 | $0.070 | OrdinaryDividend |
Feb 27, 2023 | $0.062 | OrdinaryDividend |
Jan 30, 2023 | $0.060 | OrdinaryDividend |
Dec 29, 2022 | $0.063 | OrdinaryDividend |
Nov 29, 2022 | $0.056 | OrdinaryDividend |
Oct 28, 2022 | $0.049 | OrdinaryDividend |
Sep 29, 2022 | $0.049 | OrdinaryDividend |
Aug 30, 2022 | $0.046 | OrdinaryDividend |
Jul 28, 2022 | $0.041 | OrdinaryDividend |
Jun 29, 2022 | $0.036 | OrdinaryDividend |
May 27, 2022 | $0.033 | OrdinaryDividend |
Apr 28, 2022 | $0.032 | OrdinaryDividend |
Mar 30, 2022 | $0.033 | OrdinaryDividend |
Feb 25, 2022 | $0.029 | OrdinaryDividend |
Jan 28, 2022 | $0.029 | OrdinaryDividend |
Dec 30, 2021 | $0.032 | OrdinaryDividend |
Nov 29, 2021 | $0.031 | OrdinaryDividend |
Oct 28, 2021 | $0.033 | OrdinaryDividend |
Sep 29, 2021 | $0.032 | OrdinaryDividend |
Aug 30, 2021 | $0.030 | OrdinaryDividend |
Jul 29, 2021 | $0.032 | OrdinaryDividend |
Jun 29, 2021 | $0.030 | OrdinaryDividend |
May 27, 2021 | $0.031 | OrdinaryDividend |
Apr 29, 2021 | $0.032 | OrdinaryDividend |
Mar 30, 2021 | $0.033 | OrdinaryDividend |
Feb 25, 2021 | $0.027 | OrdinaryDividend |
Jan 28, 2021 | $0.030 | OrdinaryDividend |
Dec 30, 2020 | $0.040 | OrdinaryDividend |
Nov 27, 2020 | $0.030 | OrdinaryDividend |
Oct 29, 2020 | $0.034 | OrdinaryDividend |
Sep 29, 2020 | $0.033 | OrdinaryDividend |
Aug 28, 2020 | $0.031 | OrdinaryDividend |
Jul 30, 2020 | $0.033 | OrdinaryDividend |
Jun 29, 2020 | $0.030 | OrdinaryDividend |
May 28, 2020 | $0.032 | OrdinaryDividend |
Apr 29, 2020 | $0.031 | OrdinaryDividend |
Mar 30, 2020 | $0.036 | OrdinaryDividend |
Feb 27, 2020 | $0.034 | OrdinaryDividend |
Jan 30, 2020 | $0.040 | OrdinaryDividend |
Dec 30, 2019 | $0.038 | OrdinaryDividend |
Nov 27, 2019 | $0.038 | OrdinaryDividend |
Oct 30, 2019 | $0.040 | OrdinaryDividend |
Sep 27, 2019 | $0.037 | OrdinaryDividend |
Aug 29, 2019 | $0.044 | OrdinaryDividend |
Jul 30, 2019 | $0.042 | OrdinaryDividend |
Dec 19, 2011 | $0.066 | CapitalGainLongTerm |
Dec 17, 2010 | $0.010 | CapitalGainShortTerm |
Start Date
Tenure
Tenure Rank
May 01, 2009
13.09
13.1%
Paul Massaro is a vice president of T. Rowe Price Group, Inc.; T. Rowe Price Associates, Inc.; and T. Rowe Price Trust Company. He is a portfolio manager for high yield strategies in the Fixed Income Division. Paul is executive vice president of the T. Rowe Price Institutional Income Funds, Inc.; and the T. Rowe Price Floating Rate Fund, Inc. He also is chairman of the Investment Advisory Committee and portfolio manager of the Floating Rate and Institutional Floating Rate Funds. Prior to joining T. Rowe Price in 2003, Paul worked in equity research at Banc of America Securities and at J.P. Morgan Chase, both in New York. He earned a B.S. in business management from Cornell University and an M.B.A. in finance and strategic management from The Wharton School, University of Pennsylvania. Paul also has earned the Chartered Financial Analyst designation.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 21.18 | 6.08 | 3.25 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
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