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 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
5.0%
1 yr return
6.3%
3 Yr Avg Return
1.8%
5 Yr Avg Return
2.0%
Net Assets
$4.67 B
Holdings in Top 10
22.9%
Expense Ratio 0.34%
Front Load N/A
Deferred Load N/A
Turnover 49.40%
Redemption Fee N/A
Standard (Taxable)
$500,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Normally, the fund invests at least 80% of its net assets (including any borrowings for investment purposes) in bonds. The fund invests in a diversified portfolio of short- and intermediate-term investment-grade corporate, government, and asset- and mortgage-backed securities. The fund may also invest in money market securities, bank obligations, collateralized mortgage obligations, and foreign securities, including securities of issuers in emerging markets. The fund’s average effective maturity will normally not exceed three years. The fund only purchases securities that are rated within one of the four highest credit rating categories at the time of purchase by at least one credit rating agency or, if unrated, deemed by the adviser to be of comparable quality. The fund may continue to hold a security that has been downgraded after purchase.
The fund may use a variety of derivatives, such as futures, forwards, and swaps for a number of purposes, such as for exposure or hedging. The fund specifically uses interest rate futures, credit default swaps, and credit default index swap indexes (CDX). Interest rate futures are typically used in an effort to manage its exposure to changes in interest rates or to adjust portfolio duration. Credit default swaps are typically used in an effort to protect the value of certain portfolio holdings or to manage the fund’s overall exposure to changes in credit quality. A CDX is a swap on an index of credit default swaps. CDXs allow an investor to manage credit risk or take a position on a basket of credit entities (such as credit default swaps or a reference index) rather than transacting in a single-name credit default swap. Additionally, the fund uses mortgage-backed securities on a delayed delivery or forward commitment basis through the “to-be-announced” (TBA) market as a means of adjusting the fund’s duration and gaining exposure to investment-grade bonds.
Investment decisions generally reflect the portfolio manager’s outlook for interest rates and the economy, as well as the prices, yields, and credit quality of various securities in which the fund may invest. For example, if interest rates are expected to fall, the fund may purchase securities
with longer maturities (to the extent consistent with the fund’s investment program) in an attempt to seek higher yields and/or capital appreciation. Conversely, if interest rates are expected to rise, the fund may seek securities with shorter maturities.
Period | TBSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.0% | 0.9% | 19.9% | 56.24% |
1 Yr | 6.3% | 2.4% | 21.5% | 49.90% |
3 Yr | 1.8%* | -5.0% | 6.1% | 46.89% |
5 Yr | 2.0%* | -3.8% | 5.8% | 39.71% |
10 Yr | N/A* | -18.5% | 170.6% | 49.33% |
* Annualized
Period | TBSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.8% | -1.6% | 7.6% | 52.88% |
2022 | -6.5% | -17.7% | -2.6% | 33.86% |
2021 | -1.2% | -4.0% | 4.4% | 19.92% |
2020 | 2.5% | -7.1% | 7.6% | 31.69% |
2019 | 1.5% | -2.3% | 9.3% | 77.23% |
Period | TBSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.0% | 0.9% | 19.9% | 56.24% |
1 Yr | 6.3% | 2.4% | 21.5% | 49.90% |
3 Yr | 1.8%* | -5.0% | 6.1% | 46.89% |
5 Yr | 2.0%* | -3.8% | 5.8% | 39.71% |
10 Yr | N/A* | -18.5% | 170.6% | 46.43% |
* Annualized
Period | TBSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.2% | 1.8% | 15.2% | 63.08% |
2022 | -4.6% | -17.3% | -1.3% | 43.25% |
2021 | 0.0% | -2.7% | 7.7% | 46.68% |
2020 | 4.6% | -2.4% | 14.5% | 38.68% |
2019 | 4.2% | 0.6% | 12.6% | 69.15% |
TBSIX | Category Low | Category High | TBSIX % Rank | |
---|---|---|---|---|
Net Assets | 4.67 B | 14.5 K | 57.3 B | 19.92% |
Number of Holdings | 899 | 2 | 8314 | 21.84% |
Net Assets in Top 10 | 1.08 B | 1.05 M | 6.81 B | 26.25% |
Weighting of Top 10 | 22.95% | 2.0% | 108.1% | 59.20% |
Weighting | Return Low | Return High | TBSIX % Rank | |
---|---|---|---|---|
Bonds | 87.42% | 0.00% | 131.65% | 49.04% |
Other | 11.58% | -0.97% | 73.75% | 41.95% |
Convertible Bonds | 1.88% | 0.00% | 27.71% | 57.77% |
Cash | 1.23% | -20.59% | 68.64% | 69.73% |
Stocks | 0.00% | 0.00% | 99.96% | 84.67% |
Preferred Stocks | 0.00% | 0.00% | 24.12% | 85.06% |
Weighting | Return Low | Return High | TBSIX % Rank | |
---|---|---|---|---|
Corporate | 40.82% | 0.00% | 99.82% | 45.49% |
Securitized | 29.68% | 0.00% | 97.27% | 34.93% |
Government | 25.57% | 0.00% | 73.63% | 36.08% |
Cash & Equivalents | 1.23% | 0.00% | 68.64% | 63.22% |
Municipal | 0.35% | 0.00% | 14.41% | 21.50% |
Derivative | 0.04% | -0.72% | 25.70% | 32.57% |
Weighting | Return Low | Return High | TBSIX % Rank | |
---|---|---|---|---|
US | 87.42% | 0.00% | 126.86% | 47.13% |
Non US | 0.00% | 0.00% | 87.70% | 84.48% |
TBSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.34% | 0.01% | 3.29% | 85.19% |
Management Fee | 0.30% | 0.00% | 1.19% | 46.74% |
12b-1 Fee | N/A | 0.00% | 1.00% | 19.99% |
Administrative Fee | N/A | 0.01% | 0.41% | N/A |
TBSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 5.75% | N/A |
Deferred Load | N/A | 0.50% | 4.00% | N/A |
TBSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
TBSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 49.40% | 2.00% | 500.00% | 30.95% |
TBSIX | Category Low | Category High | TBSIX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.16% | 0.00% | 11.11% | 56.70% |
TBSIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
TBSIX | Category Low | Category High | TBSIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.56% | -1.27% | 4.98% | 26.12% |
TBSIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 27, 2024 | $0.016 | OrdinaryDividend |
Oct 30, 2024 | $0.017 | OrdinaryDividend |
Sep 27, 2024 | $0.015 | OrdinaryDividend |
Aug 29, 2024 | $0.018 | OrdinaryDividend |
Jul 30, 2024 | $0.017 | OrdinaryDividend |
Apr 29, 2024 | $0.016 | OrdinaryDividend |
Mar 27, 2024 | $0.015 | OrdinaryDividend |
Feb 28, 2024 | $0.014 | OrdinaryDividend |
Jan 30, 2024 | $0.014 | OrdinaryDividend |
Dec 28, 2023 | $0.015 | OrdinaryDividend |
Nov 29, 2023 | $0.014 | OrdinaryDividend |
Oct 30, 2023 | $0.013 | OrdinaryDividend |
Sep 28, 2023 | $0.013 | OrdinaryDividend |
Aug 30, 2023 | $0.013 | OrdinaryDividend |
Jul 28, 2023 | $0.012 | OrdinaryDividend |
Jun 29, 2023 | $0.013 | OrdinaryDividend |
May 30, 2023 | $0.012 | OrdinaryDividend |
Apr 27, 2023 | $0.011 | OrdinaryDividend |
Mar 30, 2023 | $0.012 | OrdinaryDividend |
Feb 27, 2023 | $0.010 | OrdinaryDividend |
Jan 30, 2023 | $0.011 | OrdinaryDividend |
Dec 29, 2022 | $0.012 | OrdinaryDividend |
Nov 29, 2022 | $0.010 | OrdinaryDividend |
Oct 28, 2022 | $0.009 | OrdinaryDividend |
Sep 29, 2022 | $0.009 | OrdinaryDividend |
Aug 30, 2022 | $0.009 | OrdinaryDividend |
Jul 28, 2022 | $0.008 | OrdinaryDividend |
Jun 29, 2022 | $0.007 | OrdinaryDividend |
May 27, 2022 | $0.007 | OrdinaryDividend |
Apr 28, 2022 | $0.006 | OrdinaryDividend |
Mar 30, 2022 | $0.006 | OrdinaryDividend |
Feb 25, 2022 | $0.004 | OrdinaryDividend |
Jan 28, 2022 | $0.004 | OrdinaryDividend |
Dec 30, 2021 | $0.005 | OrdinaryDividend |
Nov 29, 2021 | $0.005 | OrdinaryDividend |
Oct 28, 2021 | $0.005 | OrdinaryDividend |
Sep 29, 2021 | $0.005 | OrdinaryDividend |
Aug 30, 2021 | $0.005 | OrdinaryDividend |
Jul 29, 2021 | $0.005 | OrdinaryDividend |
Jun 29, 2021 | $0.005 | OrdinaryDividend |
May 28, 2021 | $0.005 | OrdinaryDividend |
Apr 30, 2021 | $0.006 | OrdinaryDividend |
Mar 30, 2021 | $0.000 | ReturnOfCapital |
Mar 30, 2021 | $0.006 | OrdinaryDividend |
Feb 26, 2021 | $0.006 | OrdinaryDividend |
Jan 29, 2021 | $0.006 | OrdinaryDividend |
Dec 30, 2020 | $0.007 | OrdinaryDividend |
Nov 27, 2020 | $0.006 | OrdinaryDividend |
Oct 29, 2020 | $0.007 | OrdinaryDividend |
Sep 29, 2020 | $0.007 | OrdinaryDividend |
Aug 28, 2020 | $0.007 | OrdinaryDividend |
Jul 30, 2020 | $0.008 | OrdinaryDividend |
Jun 29, 2020 | $0.008 | OrdinaryDividend |
May 28, 2020 | $0.009 | OrdinaryDividend |
Apr 29, 2020 | $0.009 | OrdinaryDividend |
Mar 30, 2020 | $0.009 | OrdinaryDividend |
Feb 27, 2020 | $0.009 | OrdinaryDividend |
Jan 30, 2020 | $0.010 | OrdinaryDividend |
Dec 30, 2019 | $0.010 | OrdinaryDividend |
Nov 27, 2019 | $0.010 | OrdinaryDividend |
Oct 30, 2019 | $0.010 | OrdinaryDividend |
Sep 27, 2019 | $0.009 | OrdinaryDividend |
Aug 29, 2019 | $0.011 | OrdinaryDividend |
Jul 30, 2019 | $0.011 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jan 22, 2015
7.36
7.4%
Michael Reinartz is a portfolio manager in the Fixed Income Division at T. Rowe Price. He is a member of the U.S. Taxable Low Duration team and co-portfolio manager of the Short-Term Bond Fund and the Limited-Term Bond Portfolio. Mr. Reinartz is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. Mr. Reinartz has started to engage in investment since 2001, all of which have been at T. Rowe Price. He joined the firm in 1996. Prior to his current position, Mr. Reinartz was a member of the Short-Term Bond, Strategic Income, and Quantitative Research teams and provided portfolio modeling and analysis support to portfolio managers. He also worked as a senior mutual fund accountant and investment liaison in the Fixed Income Division. Mr. Reinartz earned a B.S. in accounting from Towson University, and he also has earned the Chartered Financial Analyst designation
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 28.77 | 6.16 | 2.41 |
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