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Trending ETFs

T. Rowe Price Short Duration Income Fund

mutual fund
TSDLX
Payout Change
Pending
Price as of:
$9.41 +0.01 +0.11%
primary theme
U.S. Short-Term Bond Duration
share class
TSDLX (Mutual Fund)

T. Rowe Price Short Duration Income Fund

Payout Change
Pending
Price as of:
$9.41 +0.01 +0.11%
primary theme
U.S. Short-Term Bond Duration
share class
TSDLX (Mutual Fund)

T. Rowe Price Short Duration Income Fund

Payout Change
Pending
Price as of:
$9.41 +0.01 +0.11%
primary theme
U.S. Short-Term Bond Duration
share class

Name

As of 11/29/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.41

$54.8 M

5.02%

$0.47

1.00%

Vitals

YTD Return

5.1%

1 yr return

6.3%

3 Yr Avg Return

1.9%

5 Yr Avg Return

N/A

Net Assets

$54.8 M

Holdings in Top 10

15.3%

52 WEEK LOW AND HIGH

$9.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 24.70%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/29/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.41

$54.8 M

5.02%

$0.47

1.00%

TSDLX - Profile

Distributions

  • YTD Total Return 5.1%
  • 3 Yr Annualized Total Return 1.9%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.47%
DIVIDENDS
  • Dividend Yield 5.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    T. Rowe Price Short Duration Income Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Dec 08, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Steven Kohlenstein

Fund Description

The fund invests in a diversified portfolio of short-duration fixed income securities. The portfolio seeks to optimize income, consistent with limiting volatility and managing risk across different market conditions and stages of the credit cycle. The fund invests in investment-grade corporate and securitized instruments within the U.S. while also incorporating “plus” sectors to enhance income and portfolio diversification.

Securitized instruments include commercial mortgage-backed securities, residential mortgage-backed securities, and asset-backed securities (ABS), including collateralized loan obligations (CLOs). “Plus” sectors include below investment-grade (also known as high yield) instruments, leveraged loans (or bank loans), and international and emerging market debt. The fund also invests in U.S. government and agency securities.

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in fixed income securities. For purposes of determining whether the fund invests at least 80% of its net assets in fixed income securities, the fund includes the market value of derivative instruments that are linked to, or provide investment exposure to, fixed income securities. Under normal market conditions, the fund’s effective duration will be 3 years or less.

Duration is a calculation that seeks to measure the price sensitivity of a bond or a bond fund to changes in interest rates. It is expressed in years and takes into account the time value of cash flows generated over the bond’s life. Future interest and principal payments are discounted to reflect their present value and then multiplied by the number of years they will be received to produce a value expressed in years–the duration.

Since duration can be computed for bond funds, you can estimate the effect of interest rate fluctuations on share prices by multiplying the fund’s duration by an expected change in interest rates. For example, the price of a bond fund with a duration of three years would be expected to fall approximately 3% if interest rates rose by one percentage point.

The fund may invest up to 35% of its net assets in corporate bonds, bank loans, and other debt instruments that are rated below investment grade (below BBB-, or an equivalent rating), commonly known as high yield instruments, by each of the credit rating agencies that have assigned a rating to the security or, if unrated, deemed by the adviser to be below investment grade. The fund may invest in securities issued by both U.S. and non-U.S. issuers, including issuers in emerging market countries.

The fund may use a variety of derivatives, such as futures, options, forwards, and swaps for a number of purposes, such as for exposure or hedging. Specifically, the fund uses interest rate futures, interest rate options, and credit default swap indexes (CDX). The fund uses interest rate futures and interest rate options to manage the fund’s exposure to changes in interest rates or to adjust portfolio duration. 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.

The fund may also purchase or sell mortgage-backed securities on a delayed delivery or forward commitment basis through the “to-be-announced” (TBA) market. With TBA transactions, the particular securities to be delivered are not identified at the trade date, but the delivered securities must meet specified terms and standards. The fund will generally enter into TBA transactions with the intention of taking possession of the underlying mortgage-backed securities. However, in an effort to obtain underlying mortgage-backed securities on more preferable terms or to enhance returns, the fund may extend the settlement by entering into “dollar roll” transactions in which the fund sells mortgage-backed securities to a dealer and simultaneously agrees to purchase substantially similar securities in the future at a predetermined price. The fund also expects to engage in short sales of TBA mortgages, including short sales on TBA mortgages the fund does not own, to potentially enhance returns or manage risk.

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TSDLX - Performance

Return Ranking - Trailing

Period TSDLX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% 0.8% 18.7% 35.12%
1 Yr 6.3% 2.3% 21.8% 29.17%
3 Yr 1.9%* -5.0% 6.0% 35.48%
5 Yr N/A* -3.8% 5.7% N/A
10 Yr N/A* -18.8% 170.4% N/A

* Annualized

Return Ranking - Calendar

Period TSDLX Return Category Return Low Category Return High Rank in Category (%)
2023 1.6% -1.6% 7.6% 57.31%
2022 -7.4% -17.7% -2.6% 58.32%
2021 -0.9% -4.0% 4.4% 13.08%
2020 N/A -7.1% 7.6% N/A
2019 N/A -2.3% 9.3% N/A

Total Return Ranking - Trailing

Period TSDLX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% 0.8% 18.7% 35.12%
1 Yr 6.3% 2.3% 21.8% 29.17%
3 Yr 1.9%* -5.0% 6.0% 35.48%
5 Yr N/A* -3.8% 5.7% N/A
10 Yr N/A* -18.8% 170.4% N/A

* Annualized

Total Return Ranking - Calendar

Period TSDLX Return Category Return Low Category Return High Rank in Category (%)
2023 6.0% 1.8% 15.2% 35.38%
2022 -5.1% -17.3% -1.3% 55.19%
2021 0.8% -2.7% 7.7% 25.55%
2020 N/A -2.4% 14.5% N/A
2019 N/A 0.6% 12.6% N/A

NAV & Total Return History


TSDLX - Holdings

Concentration Analysis

TSDLX Category Low Category High TSDLX % Rank
Net Assets 54.8 M 14.5 K 57.3 B 93.68%
Number of Holdings 394 2 8314 54.02%
Net Assets in Top 10 8.83 M 1.05 M 6.81 B 96.55%
Weighting of Top 10 15.31% 2.0% 108.1% 76.44%

Top 10 Holdings

  1. UNITED STATES TREASURY NOTE/BOND 2.71%
  2. UNITED STATES TREASURY NOTE/BOND 2.44%
  3. UNITED STATES TREASURY NOTE/BOND 2.02%
  4. UNITED STATES TREASURY NOTE/BOND 1.95%
  5. UNITED STATES TREASURY NOTE/BOND 1.49%
  6. UNITED STATES TREASURY NOTE/BOND 1.47%
  7. UNITED STATES TREASURY NOTE/BOND 0.97%
  8. UNITED STATES TREASURY NOTE/BOND 0.87%
  9. SIERRA TIMESHARE 2021-1 RECEIVABLES FUNDING LLC 0.72%
  10. T. Rowe Price Government Reserve Fund 0.66%

Asset Allocation

Weighting Return Low Return High TSDLX % Rank
Bonds
81.45% 0.00% 131.65% 61.49%
Other
18.50% -0.97% 73.75% 21.07%
Cash
0.98% -20.59% 68.64% 73.37%
Convertible Bonds
0.40% 0.00% 27.71% 88.87%
Stocks
0.00% 0.00% 99.96% 57.85%
Preferred Stocks
0.00% 0.00% 24.12% 56.13%

Bond Sector Breakdown

Weighting Return Low Return High TSDLX % Rank
Securitized
33.34% 0.00% 97.27% 31.86%
Corporate
32.32% 0.00% 99.82% 62.19%
Government
27.74% 0.00% 73.63% 33.21%
Cash & Equivalents
0.98% 0.00% 68.64% 67.24%
Municipal
0.51% 0.00% 14.41% 16.12%
Derivative
0.06% -0.72% 25.70% 27.97%

Bond Geographic Breakdown

Weighting Return Low Return High TSDLX % Rank
US
81.45% 0.00% 126.86% 60.15%
Non US
0.00% 0.00% 87.70% 55.56%

TSDLX - Expenses

Operational Fees

TSDLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.01% 3.29% 24.23%
Management Fee 0.29% 0.00% 1.19% 38.51%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.41% 75.36%

Sales Fees

TSDLX 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

Trading Fees

TSDLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

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.

TSDLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.70% 2.00% 500.00% 10.82%

TSDLX - Distributions

Dividend Yield Analysis

TSDLX Category Low Category High TSDLX % Rank
Dividend Yield 5.02% 0.00% 11.11% 13.22%

Dividend Distribution Analysis

TSDLX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

TSDLX Category Low Category High TSDLX % Rank
Net Income Ratio 1.47% -1.27% 4.98% 32.36%

Capital Gain Distribution Analysis

TSDLX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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TSDLX - Fund Manager Analysis

Managers

Steven Kohlenstein


Start Date

Tenure

Tenure Rank

Dec 08, 2020

1.48

1.5%

Mr. Kohlenstein joined T. Rowe Price in 2010 and his investment experience dates from 2012. During the past five years, Mr. Kohlenstein has served as a portfolio investment strategist and quantitative analyst in the Fixed Income Division.

Cheryl Mickel


Start Date

Tenure

Tenure Rank

Dec 08, 2020

1.48

1.5%

Mickel joined T. Rowe Price Associates, Inc. in 1989. She is an assistant vice president and an associate portfolio manager in the taxable bond department. Mickel earned her Chartered Financial Analyst designation in 1997.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.16 2.41