T. Rowe Price Short-Term Bond Fund, Inc.
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.6%
1 yr return
4.4%
3 Yr Avg Return
0.3%
5 Yr Avg Return
1.7%
Net Assets
$4.53 B
Holdings in Top 10
20.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.33%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 49.40%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TBSIX - Profile
Distributions
- YTD Total Return 0.6%
- 3 Yr Annualized Total Return 0.3%
- 5 Yr Annualized Total Return 1.7%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.56%
- Dividend Yield 3.7%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameT. Rowe Price Short-Term Bond Fund, Inc.
-
Fund Family NameTROWEPRICE
-
Inception DateDec 17, 2015
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Reinartz
Fund Description
Normally, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in bonds. The fund will invest 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 will only purchase securities that are rated within one of the four highest credit categories at the time of purchase by at least one major credit rating agency or, if unrated, deemed by T. Rowe Price 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 primarily in an effort to manage its exposure to changes in interest rates or to adjust portfolio duration, credit default swaps primarily in an effort to protect the value of certain portfolio holdings or to manage the fund’s overall exposure to changes in credit quality, and options on any of those instruments to manage duration and tactically gain or limit exposure to certain areas of the markets.
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 longer-term securities (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.
TBSIX - Performance
Return Ranking - Trailing
Period | TBSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.6% | -1.8% | 9.2% | 60.22% |
1 Yr | 4.4% | -0.2% | 24.4% | 64.13% |
3 Yr | 0.3%* | -5.9% | 4.1% | 44.24% |
5 Yr | 1.7%* | -3.8% | 4.4% | 35.71% |
10 Yr | N/A* | -19.2% | 169.7% | 49.33% |
* Annualized
Return Ranking - Calendar
Period | TBSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.8% | -5.4% | 7.6% | 52.99% |
2022 | -6.5% | -17.7% | -2.6% | 33.64% |
2021 | -1.2% | -4.0% | 4.4% | 20.99% |
2020 | 2.5% | -8.3% | 7.6% | 30.27% |
2019 | 1.5% | -2.3% | 9.3% | 76.81% |
Total Return Ranking - Trailing
Period | TBSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.6% | -1.8% | 9.2% | 60.22% |
1 Yr | 4.4% | -0.2% | 24.4% | 64.13% |
3 Yr | 0.3%* | -5.9% | 4.1% | 44.24% |
5 Yr | 1.7%* | -3.8% | 4.4% | 35.71% |
10 Yr | N/A* | -19.2% | 169.7% | 46.43% |
* Annualized
Total Return Ranking - Calendar
Period | TBSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.2% | -1.1% | 15.2% | 64.07% |
2022 | -4.6% | -17.3% | -1.3% | 43.07% |
2021 | 0.0% | -2.7% | 7.7% | 46.95% |
2020 | 4.6% | -4.4% | 14.5% | 37.11% |
2019 | 4.2% | 0.6% | 12.6% | 68.35% |
NAV & Total Return History
TBSIX - Holdings
Concentration Analysis
TBSIX | Category Low | Category High | TBSIX % Rank | |
---|---|---|---|---|
Net Assets | 4.53 B | 14.1 K | 58.8 B | 19.75% |
Number of Holdings | 880 | 2 | 9721 | 20.29% |
Net Assets in Top 10 | 931 M | 1.16 M | 6.6 B | 24.60% |
Weighting of Top 10 | 20.42% | 1.8% | 108.7% | 62.66% |
Top 10 Holdings
- UNITED STATES TREASURY NOTE/BOND 6.92%
- UNITED STATES TREASURY NOTE/BOND 5.03%
- UNITED STATES TREASURY NOTE/BOND 2.98%
- UNITED STATES TREASURY NOTE/BOND 1.25%
- UNITED STATES TREASURY NOTE/BOND 1.23%
- T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND 0.68%
- VISTRA OPERATIONS CO LLC 0.66%
- CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 0.59%
- PERRIGO FINANCE UNLIMITED CO 0.54%
- FANNIE MAE POOL 0.54%
Asset Allocation
Weighting | Return Low | Return High | TBSIX % Rank | |
---|---|---|---|---|
Bonds | 88.44% | 0.00% | 130.68% | 50.45% |
Other | 11.16% | -0.97% | 72.36% | 39.68% |
Convertible Bonds | 1.88% | 0.00% | 27.71% | 58.27% |
Cash | 0.76% | -20.59% | 62.18% | 76.12% |
Stocks | 0.00% | 0.00% | 103.64% | 64.45% |
Preferred Stocks | 0.00% | 0.00% | 21.82% | 58.35% |
Bond Sector Breakdown
Weighting | Return Low | Return High | TBSIX % Rank | |
---|---|---|---|---|
Corporate | 40.82% | 0.00% | 100.00% | 45.86% |
Securitized | 29.68% | 0.00% | 97.27% | 36.15% |
Government | 25.57% | 0.00% | 73.63% | 35.61% |
Cash & Equivalents | 0.76% | 0.00% | 62.18% | 63.55% |
Municipal | 0.35% | 0.00% | 17.46% | 21.04% |
Derivative | 0.04% | -0.55% | 24.84% | 41.65% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | TBSIX % Rank | |
---|---|---|---|---|
US | 88.44% | 0.00% | 130.68% | 44.52% |
Non US | 0.00% | 0.00% | 83.16% | 62.30% |
TBSIX - Expenses
Operational Fees
TBSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.33% | 0.01% | 3.24% | 86.78% |
Management Fee | 0.30% | 0.00% | 1.19% | 43.45% |
12b-1 Fee | N/A | 0.00% | 1.00% | 19.99% |
Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
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 |
Trading Fees
TBSIX 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.
TBSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 49.40% | 2.00% | 500.00% | 29.98% |
TBSIX - Distributions
Dividend Yield Analysis
TBSIX | Category Low | Category High | TBSIX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.74% | 0.00% | 10.34% | 62.12% |
Dividend Distribution Analysis
TBSIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
TBSIX | Category Low | Category High | TBSIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.56% | -1.27% | 4.98% | 26.06% |
Capital Gain Distribution Analysis
TBSIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 29, 2024 | $0.014 | DailyAccrualFund |
Jan 31, 2024 | $0.014 | DailyAccrualFund |
Dec 29, 2023 | $0.015 | DailyAccrualFund |
Nov 30, 2023 | $0.014 | DailyAccrualFund |
Oct 31, 2023 | $0.013 | DailyAccrualFund |
Sep 29, 2023 | $0.013 | DailyAccrualFund |
Aug 31, 2023 | $0.013 | DailyAccrualFund |
Jul 31, 2023 | $0.012 | DailyAccrualFund |
Jun 30, 2023 | $0.013 | DailyAccrualFund |
May 31, 2023 | $0.012 | DailyAccrualFund |
Apr 28, 2023 | $0.011 | DailyAccrualFund |
Mar 31, 2023 | $0.012 | DailyAccrualFund |
Feb 28, 2023 | $0.010 | DailyAccrualFund |
Jan 31, 2023 | $0.011 | DailyAccrualFund |
Dec 30, 2022 | $0.012 | DailyAccrualFund |
Nov 30, 2022 | $0.010 | DailyAccrualFund |
Oct 31, 2022 | $0.009 | DailyAccrualFund |
Sep 30, 2022 | $0.009 | DailyAccrualFund |
Aug 31, 2022 | $0.009 | DailyAccrualFund |
Jul 29, 2022 | $0.008 | DailyAccrualFund |
Jun 30, 2022 | $0.007 | DailyAccrualFund |
May 31, 2022 | $0.007 | DailyAccrualFund |
Apr 29, 2022 | $0.006 | DailyAccrualFund |
Mar 31, 2022 | $0.006 | DailyAccrualFund |
Feb 28, 2022 | $0.004 | DailyAccrualFund |
Jan 31, 2022 | $0.004 | DailyAccrualFund |
Dec 31, 2021 | $0.005 | DailyAccrualFund |
Nov 30, 2021 | $0.005 | DailyAccrualFund |
Oct 29, 2021 | $0.005 | DailyAccrualFund |
Sep 30, 2021 | $0.005 | DailyAccrualFund |
Aug 31, 2021 | $0.005 | DailyAccrualFund |
Jul 30, 2021 | $0.005 | DailyAccrualFund |
Jun 30, 2021 | $0.005 | DailyAccrualFund |
May 28, 2021 | $0.005 | DailyAccrualFund |
Apr 30, 2021 | $0.006 | DailyAccrualFund |
Mar 31, 2021 | $0.006 | DailyAccrualFund |
Feb 26, 2021 | $0.005 | DailyAccrualFund |
Jan 29, 2021 | $0.005 | DailyAccrualFund |
Dec 31, 2020 | $0.007 | DailyAccrualFund |
Nov 30, 2020 | $0.006 | DailyAccrualFund |
Oct 30, 2020 | $0.007 | DailyAccrualFund |
Sep 30, 2020 | $0.007 | DailyAccrualFund |
Aug 31, 2020 | $0.007 | DailyAccrualFund |
Jul 31, 2020 | $0.008 | DailyAccrualFund |
Jun 30, 2020 | $0.008 | DailyAccrualFund |
May 29, 2020 | $0.009 | DailyAccrualFund |
Apr 30, 2020 | $0.009 | DailyAccrualFund |
Mar 31, 2020 | $0.009 | DailyAccrualFund |
Feb 28, 2020 | $0.009 | DailyAccrualFund |
Jan 31, 2020 | $0.010 | DailyAccrualFund |
Dec 31, 2019 | $0.010 | DailyAccrualFund |
Nov 29, 2019 | $0.010 | DailyAccrualFund |
Oct 31, 2019 | $0.010 | DailyAccrualFund |
Sep 30, 2019 | $0.009 | DailyAccrualFund |
Aug 30, 2019 | $0.011 | DailyAccrualFund |
Jul 31, 2019 | $0.011 | DailyAccrualFund |
Jun 28, 2019 | $0.010 | OrdinaryDividend |
May 31, 2019 | $0.012 | DailyAccrualFund |
Apr 30, 2019 | $0.011 | DailyAccrualFund |
Mar 29, 2019 | $0.011 | DailyAccrualFund |
Feb 28, 2019 | $0.010 | DailyAccrualFund |
Jan 31, 2019 | $0.010 | DailyAccrualFund |
Dec 31, 2018 | $0.010 | DailyAccrualFund |
Nov 30, 2018 | $0.011 | DailyAccrualFund |
Oct 31, 2018 | $0.010 | DailyAccrualFund |
Aug 31, 2018 | $0.011 | DailyAccrualFund |
Jul 31, 2018 | $0.009 | DailyAccrualFund |
Jun 29, 2018 | $0.009 | DailyAccrualFund |
May 31, 2018 | $0.009 | DailyAccrualFund |
Apr 30, 2018 | $0.008 | DailyAccrualFund |
Mar 29, 2018 | $0.009 | DailyAccrualFund |
Feb 28, 2018 | $0.008 | DailyAccrualFund |
Jan 31, 2018 | $0.008 | DailyAccrualFund |
Dec 29, 2017 | $0.008 | DailyAccrualFund |
Nov 30, 2017 | $0.007 | DailyAccrualFund |
Oct 31, 2017 | $0.007 | DailyAccrualFund |
Sep 29, 2017 | $0.008 | DailyAccrualFund |
Aug 31, 2017 | $0.007 | DailyAccrualFund |
Jul 31, 2017 | $0.007 | DailyAccrualFund |
Jun 30, 2017 | $0.008 | DailyAccrualFund |
May 31, 2017 | $0.007 | DailyAccrualFund |
Apr 28, 2017 | $0.007 | DailyAccrualFund |
Mar 31, 2017 | $0.008 | DailyAccrualFund |
Feb 28, 2017 | $0.007 | DailyAccrualFund |
Jan 31, 2017 | $0.006 | DailyAccrualFund |
Dec 30, 2016 | $0.007 | DailyAccrualFund |
Nov 30, 2016 | $0.007 | DailyAccrualFund |
Oct 31, 2016 | $0.006 | DailyAccrualFund |
Sep 30, 2016 | $0.007 | DailyAccrualFund |
Aug 31, 2016 | $0.007 | DailyAccrualFund |
Jul 29, 2016 | $0.007 | DailyAccrualFund |
Jun 30, 2016 | $0.007 | DailyAccrualFund |
May 31, 2016 | $0.006 | DailyAccrualFund |
Apr 29, 2016 | $0.007 | DailyAccrualFund |
Mar 31, 2016 | $0.007 | DailyAccrualFund |
Feb 29, 2016 | $0.007 | DailyAccrualFund |
Jan 29, 2016 | $0.006 | DailyAccrualFund |
Dec 31, 2015 | $0.004 | DailyAccrualFund |
TBSIX - Fund Manager Analysis
Managers
Michael Reinartz
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
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 28.77 | 6.13 | 2.41 |