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Trending ETFs

Name

As of 03/26/2024

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

$4.56

$4.53 B

3.74%

$0.17

0.33%

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

$4.6
N/A
N/A

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 03/26/2024

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

$4.56

$4.53 B

3.74%

$0.17

0.33%

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%
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    T. Rowe Price Short-Term Bond Fund, Inc.
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Dec 17, 2015
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael 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.

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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

  1. UNITED STATES TREASURY NOTE/BOND 6.92%
  2. UNITED STATES TREASURY NOTE/BOND 5.03%
  3. UNITED STATES TREASURY NOTE/BOND 2.98%
  4. UNITED STATES TREASURY NOTE/BOND 1.25%
  5. UNITED STATES TREASURY NOTE/BOND 1.23%
  6. T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND 0.68%
  7. VISTRA OPERATIONS CO LLC 0.66%
  8. CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 0.59%
  9. PERRIGO FINANCE UNLIMITED CO 0.54%
  10. 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

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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