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Trending ETFs

Name

As of 03/27/2024

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

$14.97

$792 M

2.21%

$0.33

1.45%

Vitals

YTD Return

5.1%

1 yr return

16.8%

3 Yr Avg Return

2.3%

5 Yr Avg Return

6.8%

Net Assets

$792 M

Holdings in Top 10

34.2%

52 WEEK LOW AND HIGH

$14.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 42.20%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$14.97

$792 M

2.21%

$0.33

1.45%

PAFGX - Profile

Distributions

  • YTD Total Return 5.1%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 6.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.70%
DIVIDENDS
  • Dividend Yield 2.2%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    T. Rowe Price Global Allocation Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    May 28, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Charles Shriver

Fund Description

The fund seeks to invest in a broadly diversified global portfolio of investments, including U.S. and international stocks, bonds and short-term securities, and alternative investments. The fund uses an active asset allocation strategy in conjunction with fundamental research to select individual investments. T. Rowe Price, the fund’s investment adviser, allocates the fund’s assets among various asset classes and market sectors based on its assessment of U.S. and global

economic and market conditions, interest rate movements, industry and issuer conditions and business cycles, and other relevant factors. Under normal conditions, the fund’s portfolio will consist of approximately 60% stocks; 30% bonds, money market securities, and other debt instruments; and 10% alternative investments (each as a percentage of the fund’s net assets).

The fund may also gain exposure to specific asset classes through the use of certain types of derivatives or by investing in other T. Rowe Price mutual funds and exchange-traded funds that focus their investments in a given asset class.

T. Rowe Price may adjust the fund’s portfolio and overall risk profile by making tactical decisions to overweight or underweight particular asset classes or sectors based on its outlook for the global economy and securities markets, as well as by adjusting the fund’s overall derivatives exposure and allocations to alternative investments.

The fund expects to normally invest approximately half of its equity investments in U.S. stocks and half in international stocks. When deciding upon overall allocations to stocks, T. Rowe Price examines relative values and prospects among growth- and value-oriented stocks, small- to large-cap stocks, and stocks of companies involved in activities related to commodities and other real assets, as well as by evaluating economic conditions affecting the U.S. and international developed and emerging markets. The fund has the flexibility to purchase below investment-grade bonds (also called high-yield bonds or junk bonds).

The fund expects to normally invest approximately one-third of its debt investments in international issuers, and the fund may invest up to 25% of its total assets in debt instruments that are rated below investment grade or deemed to be of comparable quality by T. Rowe Price. The fund expects to invest in a diversified portfolio of debt instruments, including U.S. dollar-denominated and non-U.S. dollar-denominated obligations of U.S. and international issuers (including issuers in emerging markets). The fund may purchase securities of any maturity. Investments are chosen across the entire government, inflation-linked, corporate, and mortgage-backed and asset-backed securities markets, as well as bank loans. When deciding whether to adjust the duration or credit risk exposure of the fund’s debt investments or the fund’s allocations among various sectors, the adviser weighs factors such as the overall outlook for inflation and the global economy, expected interest rate movements and currency valuations, and the yield advantage that lower-rated instruments may offer over investment-grade bonds.

The fund invests in alternative investments, including hedge funds and other private or registered investment companies that, in the opinion of T. Rowe Price, have the potential to produce attractive long-term risk-adjusted returns and exhibit a relatively low correlation of returns to more traditional asset classes. The fund’s alternative investments are expected to be less connected to movements in the major equity and bond markets. This is expected to enhance the fund’s overall diversification and offer potentially greater downside protection for the fund than more typical equity investments.

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. Specifically, the fund uses options, index futures,

forward currency exchange contracts, and interest rate futures. The fund expects to primarily use these instruments to efficiently access or adjust exposure to certain market segments, in an attempt to manage portfolio volatility, or to benefit from what the adviser believes is a risk premium in the options market (for example, an option’s price reflects a greater degree of volatility that would typically be realized in the market). The fund’s use of options primarily involves selling (also known as “writing”) and buying call options (or options on related futures contracts) involving stock and/or investment-grade bond indexes in an effort to enhance risk-adjusted returns, although the fund may buy or sell options for other purposes. These option overlay strategies are generally designed to benefit from a risk premium in the options market and dampen the fund’s overall volatility when compared to a pure bond or equity portfolio. The fund’s use of futures typically involves buying equity index futures contracts on an index as an efficient means of gaining exposure to a particular segment of the U.S. stock market (for example, U.S. large-cap stocks), as well as using Treasury futures to adjust portfolio duration or to reduce the fund’s overall volatility to manage the volatility of the fund or one of its underlying strategies. The fund uses forward currency exchange contracts primarily to moderate the currency risk associated with the fund’s international equity holdings, which are commonly non-U.S. dollar-denominated. Interest rate derivatives would typically be used to manage the fund’s exposure to interest rate changes or to adjust portfolio duration.

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PAFGX - Performance

Return Ranking - Trailing

Period PAFGX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -23.7% 16.4% 59.23%
1 Yr 16.8% -8.9% 48.3% 80.26%
3 Yr 2.3%* -2.2% 16.4% 34.52%
5 Yr 6.8%* -0.7% 13.4% 24.30%
10 Yr 6.0%* 0.9% 11.8% N/A

* Annualized

Return Ranking - Calendar

Period PAFGX Return Category Return Low Category Return High Rank in Category (%)
2023 10.9% -40.8% 20.6% 60.53%
2022 -17.1% -21.0% 24.5% 5.24%
2021 1.5% -24.2% 27.8% 10.75%
2020 13.5% -23.1% 11.7% 21.64%
2019 16.5% -100.0% 20.6% 11.72%

Total Return Ranking - Trailing

Period PAFGX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -23.7% 16.4% 57.94%
1 Yr 16.8% -12.8% 48.3% 72.25%
3 Yr 2.3%* -3.4% 16.4% 30.35%
5 Yr 6.8%* -1.1% 13.4% 22.88%
10 Yr 6.0%* 0.9% 11.8% N/A

* Annualized

Total Return Ranking - Calendar

Period PAFGX Return Category Return Low Category Return High Rank in Category (%)
2023 13.5% -40.8% 20.6% 60.53%
2022 -14.8% -21.0% 24.5% 5.24%
2021 8.9% -24.2% 27.8% 10.75%
2020 14.4% -23.1% 11.7% 18.61%
2019 18.9% -2.9% 23.1% 19.89%

NAV & Total Return History


PAFGX - Holdings

Concentration Analysis

PAFGX Category Low Category High PAFGX % Rank
Net Assets 792 M 1.12 M 110 B 37.80%
Number of Holdings 1534 2 10961 9.39%
Net Assets in Top 10 265 M -31.7 M 22 B 31.11%
Weighting of Top 10 34.24% 10.8% 100.0% 39.69%

Top 10 Holdings

  1. BLACKSTONE PARTNERS OFFSHORE FD-E1 7.75%
  2. T ROWE PRICE INTEGRATED US SMALL-MID CAP CORE EQUITY FUND 5.48%
  3. T ROWE PR INST EM MRK BND 3.91%
  4. T ROWE PR INTL BND-I 3.14%
  5. T ROWE PRICE MULTI-STRATEGY TOTAL RETURN FUND 2.74%
  6. T ROWE PR INST HI YLD-INST 2.53%
  7. T. Rowe Price Treasury Reserve Fund 2.34%
  8. T ROWE PR EM MKT LOC CUR-I 2.29%
  9. T ROWE PR DYN GLBL BND-I 2.14%
  10. MICROSOFT CORP 1.93%

Asset Allocation

Weighting Return Low Return High PAFGX % Rank
Stocks
85.24% -45.72% 98.42% 54.91%
Bonds
11.82% -39.76% 93.84% 41.54%
Cash
2.73% -97.12% 185.58% 73.49%
Other
0.52% -1.25% 197.12% 14.82%
Convertible Bonds
0.37% 0.00% 25.49% 42.17%
Preferred Stocks
0.28% -0.03% 14.00% 43.22%

Stock Sector Breakdown

Weighting Return Low Return High PAFGX % Rank
Technology
16.76% 0.00% 39.48% 47.35%
Healthcare
16.39% 0.00% 30.30% 7.64%
Financial Services
15.48% 0.00% 30.34% 38.85%
Consumer Cyclical
12.07% 0.00% 20.84% 24.42%
Industrials
10.74% 0.09% 32.39% 47.77%
Communication Services
8.11% 0.00% 28.59% 25.69%
Consumer Defense
5.10% 0.00% 31.85% 62.42%
Basic Materials
4.72% 0.00% 60.23% 67.30%
Utilities
4.26% 0.00% 40.29% 36.31%
Real Estate
3.50% 0.00% 90.14% 56.05%
Energy
2.89% 0.00% 38.61% 85.99%

Stock Geographic Breakdown

Weighting Return Low Return High PAFGX % Rank
US
64.12% -4.82% 95.75% 41.96%
Non US
21.12% -46.69% 57.06% 63.05%

Bond Sector Breakdown

Weighting Return Low Return High PAFGX % Rank
Government
50.61% 0.00% 98.64% 19.42%
Corporate
27.20% 0.00% 99.90% 48.85%
Securitized
3.51% 0.00% 83.28% 56.58%
Cash & Equivalents
2.73% 0.10% 100.00% 52.19%
Municipal
0.81% 0.00% 31.28% 7.10%
Derivative
0.00% 0.00% 41.88% 44.26%

Bond Geographic Breakdown

Weighting Return Low Return High PAFGX % Rank
US
11.82% -177.12% 87.76% 46.76%
Non US
0.00% -39.00% 137.36% 27.97%

PAFGX - Expenses

Operational Fees

PAFGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.45% 0.16% 2.71% 36.12%
Management Fee 0.69% 0.00% 1.70% 48.82%
12b-1 Fee 0.25% 0.00% 1.00% 25.10%
Administrative Fee 0.15% 0.01% 0.70% 73.16%

Sales Fees

PAFGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

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

PAFGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 42.20% 0.00% 441.00% 34.21%

PAFGX - Distributions

Dividend Yield Analysis

PAFGX Category Low Category High PAFGX % Rank
Dividend Yield 2.21% 0.00% 10.92% 45.74%

Dividend Distribution Analysis

PAFGX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Monthly

Net Income Ratio Analysis

PAFGX Category Low Category High PAFGX % Rank
Net Income Ratio 0.70% -5.20% 6.33% 78.00%

Capital Gain Distribution Analysis

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

Distributions History

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PAFGX - Fund Manager Analysis

Managers

Charles Shriver


Start Date

Tenure

Tenure Rank

May 28, 2013

9.01

9.0%

Charles M. Shriver is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Associates, Inc. He is a portfolio manager for several asset allocation portfolios within the Asset Allocation Group. He is the president of the Global Allocation, Balanced, Spectrum, and Personal Strategy Funds and chairman of their Investment Advisory Committees. Charles is also a member of the Investment Advisory Committee for the Real Assets Fund. He is cochair of the Asset Allocation Committee and has been with the firm since 1991. Charles earned a BA in economics and rhetoric/communications studies from the University of Virginia, an MSF in finance from Loyola University Maryland, and a graduate diploma in public economics from Stockholm University. He has earned the Chartered Financial Analyst designation.

Toby Thompson


Start Date

Tenure

Tenure Rank

Mar 01, 2020

2.25

2.3%

Toby Thompson is a portfolio manager within the Multi-Asset Division. Mr. Thompson is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Associates, Inc. Mr. Thompson earned a B.S. in business and economics from Towson University and an MBA in finance from Loyola University Maryland. He has earned the Chartered Financial Analyst and Chartered Alternative Investment Analyst designations.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25