T. Rowe Price Corporate Income Fund, Inc.
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.3%
1 yr return
3.3%
3 Yr Avg Return
-3.1%
5 Yr Avg Return
0.7%
Net Assets
$556 M
Holdings in Top 10
10.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.46%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 107.60%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TICCX - Profile
Distributions
- YTD Total Return -1.3%
- 3 Yr Annualized Total Return -3.1%
- 5 Yr Annualized Total Return 0.7%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.66%
- Dividend Yield 4.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameT. Rowe Price Corporate Income Fund, Inc.
-
Fund Family NameTROWEPRICE
-
Inception DateDec 17, 2015
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerLauren Wagandt
Fund Description
The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in corporate debt securities. Holdings will mainly consist of investment-grade bonds, although the fund has the flexibility to purchase some below investment-grade bonds (commonly referred to as “high-yield” or “junk” bonds). The fund may invest in other securities in an effort to enhance income and achieve capital growth. These include convertible securities and preferred stock; mortgage- and asset-backed securities, including mortgage-related derivatives; and U.S. Treasury and agency securities. In addition, up to 10% of the fund’s total assets may be invested in non-U.S. dollar-denominated bonds and debt securities (including securities of issuers in emerging markets), and there is no limit on the fund’s investments in U.S. dollar-denominated foreign securities. The fund may purchase securities of any maturity and its weighted average maturity will vary with market conditions.
At least 85% of the fund’s net assets must have received an investment-grade rating (i.e., rated in one of the four highest rating categories) by at least one major credit rating agency or, if not
rated by any credit rating agency, deemed by the adviser to be of investment-grade quality. Such investment-grade investments could include “split-rated” securities, which are securities that are rated as investment grade by at least one credit rating agency but rated below investment grade by another agency. Up to 15% of the fund’s net assets can be invested in below investment-grade securities including mortgage- and asset-backed securities. The fund will not purchase any individual bond that is rated below B (or equivalent) by any major credit rating agency, and the fund’s investments in bonds that are rated B (or equivalent) at the time of purchase will not exceed 5% of its net assets.
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 interest rate futures primarily in an effort to manage its exposure to changes in interest rates or to adjust portfolio duration, and 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.
The fund’s investment program provides some flexibility in seeking high income. Within the limits described, the fund can seek the most advantageous combination of securities. For example, when the difference is small between the yields of higher- and lower-rated securities, the fund may focus its investments in higher-quality issues. When the yield differential is large, the fund may move down the credit scale in search of higher yields. Likewise, if our outlook for foreign securities is favorable, the fund may purchase bonds issued by foreign companies at times when they offer higher yields than U.S. bonds of comparable quality and maturity.
TICCX - Performance
Return Ranking - Trailing
Period | TICCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.3% | -5.0% | 3.5% | 70.45% |
1 Yr | 3.3% | -1.3% | 9.8% | 47.73% |
3 Yr | -3.1%* | -9.9% | 39.4% | 60.69% |
5 Yr | 0.7%* | -4.2% | 26.2% | 77.99% |
10 Yr | N/A* | -0.5% | 14.0% | 62.12% |
* Annualized
Return Ranking - Calendar
Period | TICCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.1% | -5.6% | 6.3% | 56.82% |
2022 | -19.6% | -28.7% | 142.1% | 85.14% |
2021 | -5.9% | -12.3% | 4.9% | 86.63% |
2020 | 3.7% | -8.0% | 10.6% | 90.48% |
2019 | 9.5% | 4.3% | 13.4% | 63.92% |
Total Return Ranking - Trailing
Period | TICCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.3% | -5.0% | 3.5% | 70.45% |
1 Yr | 3.3% | -1.3% | 9.8% | 47.73% |
3 Yr | -3.1%* | -9.9% | 39.4% | 60.69% |
5 Yr | 0.7%* | -4.2% | 26.2% | 77.99% |
10 Yr | N/A* | -0.5% | 14.0% | 56.82% |
* Annualized
Total Return Ranking - Calendar
Period | TICCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.9% | -5.6% | 12.9% | 35.80% |
2022 | -16.9% | -25.6% | 151.8% | 83.43% |
2021 | -0.5% | -5.1% | 7.5% | 40.70% |
2020 | 7.7% | -8.0% | 116.0% | 88.10% |
2019 | 14.7% | 6.7% | 17.4% | 35.44% |
NAV & Total Return History
TICCX - Holdings
Concentration Analysis
TICCX | Category Low | Category High | TICCX % Rank | |
---|---|---|---|---|
Net Assets | 556 M | 5.45 M | 47.3 B | 61.93% |
Number of Holdings | 317 | 4 | 10179 | 77.27% |
Net Assets in Top 10 | 55.3 M | -29.6 M | 3.67 B | 64.77% |
Weighting of Top 10 | 10.19% | 1.5% | 143.5% | 83.52% |
Top 10 Holdings
- T. Rowe Price Government Reserve Fund 1.38%
- CVS HEALTH CORP 1.21%
- SANTANDER UK GROUP HOLDINGS PLC 1.14%
- CITIGROUP INC 1.06%
- LSEGA FINANCING PLC 0.97%
- REVVITY INC 0.96%
- T-MOBILE USA INC 0.91%
- CITIGROUP INC 0.86%
- MORGAN STANLEY 0.86%
- META PLATFORMS INC 0.85%
Asset Allocation
Weighting | Return Low | Return High | TICCX % Rank | |
---|---|---|---|---|
Bonds | 95.40% | 0.00% | 136.47% | 64.77% |
Convertible Bonds | 8.02% | 0.00% | 78.47% | 4.55% |
Other | 4.67% | -1.14% | 13.53% | 8.52% |
Cash | 2.04% | -43.80% | 45.81% | 62.50% |
Stocks | 0.00% | 0.00% | 99.96% | 85.80% |
Preferred Stocks | 0.00% | 0.00% | 9.18% | 85.23% |
Bond Sector Breakdown
Weighting | Return Low | Return High | TICCX % Rank | |
---|---|---|---|---|
Corporate | 71.07% | 41.80% | 99.80% | 89.77% |
Government | 15.57% | 0.00% | 25.63% | 19.89% |
Securitized | 5.67% | 0.00% | 23.18% | 11.36% |
Cash & Equivalents | 2.04% | 0.00% | 45.81% | 48.86% |
Municipal | 0.81% | 0.00% | 3.62% | 14.20% |
Derivative | 0.09% | -0.21% | 2.35% | 38.64% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | TICCX % Rank | |
---|---|---|---|---|
US | 95.40% | 0.00% | 109.04% | 62.50% |
Non US | 0.00% | 0.00% | 47.05% | 85.23% |
TICCX - Expenses
Operational Fees
TICCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.46% | 0.02% | 46.23% | 70.69% |
Management Fee | 0.36% | 0.00% | 1.35% | 49.43% |
12b-1 Fee | N/A | 0.00% | 1.00% | 10.00% |
Administrative Fee | N/A | 0.02% | 0.45% | N/A |
Sales Fees
TICCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 4.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
TICCX 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.
TICCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 107.60% | 0.00% | 259.00% | 65.52% |
TICCX - Distributions
Dividend Yield Analysis
TICCX | Category Low | Category High | TICCX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.94% | 0.00% | 6.00% | 21.02% |
Dividend Distribution Analysis
TICCX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
TICCX | Category Low | Category High | TICCX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.66% | 0.38% | 5.93% | 22.41% |
Capital Gain Distribution Analysis
TICCX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 30, 2024 | $0.032 | OrdinaryDividend |
Mar 28, 2024 | $0.033 | OrdinaryDividend |
Feb 29, 2024 | $0.029 | DailyAccrualFund |
Jan 31, 2024 | $0.030 | DailyAccrualFund |
Dec 29, 2023 | $0.033 | DailyAccrualFund |
Nov 30, 2023 | $0.031 | DailyAccrualFund |
Oct 31, 2023 | $0.030 | DailyAccrualFund |
Sep 29, 2023 | $0.030 | DailyAccrualFund |
Aug 31, 2023 | $0.030 | DailyAccrualFund |
Jul 31, 2023 | $0.028 | DailyAccrualFund |
Jun 30, 2023 | $0.031 | DailyAccrualFund |
May 31, 2023 | $0.029 | DailyAccrualFund |
Apr 28, 2023 | $0.026 | DailyAccrualFund |
Mar 31, 2023 | $0.031 | DailyAccrualFund |
Feb 28, 2023 | $0.026 | DailyAccrualFund |
Jan 31, 2023 | $0.025 | DailyAccrualFund |
Dec 30, 2022 | $0.028 | DailyAccrualFund |
Nov 30, 2022 | $0.025 | DailyAccrualFund |
Oct 31, 2022 | $0.024 | DailyAccrualFund |
Sep 30, 2022 | $0.026 | DailyAccrualFund |
Aug 31, 2022 | $0.024 | DailyAccrualFund |
Jul 29, 2022 | $0.023 | DailyAccrualFund |
Jun 30, 2022 | $0.022 | DailyAccrualFund |
May 31, 2022 | $0.022 | DailyAccrualFund |
Apr 29, 2022 | $0.021 | DailyAccrualFund |
Mar 31, 2022 | $0.021 | DailyAccrualFund |
Jan 31, 2022 | $0.019 | DailyAccrualFund |
Dec 31, 2021 | $0.025 | DailyAccrualFund |
Nov 30, 2021 | $0.023 | DailyAccrualFund |
Oct 29, 2021 | $0.023 | DailyAccrualFund |
Sep 30, 2021 | $0.022 | DailyAccrualFund |
Aug 31, 2021 | $0.020 | DailyAccrualFund |
Jul 30, 2021 | $0.021 | DailyAccrualFund |
Jun 30, 2021 | $0.020 | DailyAccrualFund |
May 28, 2021 | $0.021 | DailyAccrualFund |
Apr 30, 2021 | $0.023 | DailyAccrualFund |
Mar 31, 2021 | $0.022 | DailyAccrualFund |
Feb 26, 2021 | $0.021 | DailyAccrualFund |
Jan 29, 2021 | $0.022 | DailyAccrualFund |
Nov 30, 2020 | $0.023 | DailyAccrualFund |
Oct 30, 2020 | $0.024 | DailyAccrualFund |
Sep 30, 2020 | $0.022 | DailyAccrualFund |
Aug 31, 2020 | $0.021 | DailyAccrualFund |
Jul 31, 2020 | $0.024 | DailyAccrualFund |
Jun 30, 2020 | $0.024 | DailyAccrualFund |
May 29, 2020 | $0.025 | DailyAccrualFund |
Apr 30, 2020 | $0.026 | DailyAccrualFund |
Mar 31, 2020 | $0.029 | DailyAccrualFund |
Feb 28, 2020 | $0.027 | DailyAccrualFund |
Jan 31, 2020 | $0.031 | DailyAccrualFund |
Dec 31, 2019 | $0.030 | DailyAccrualFund |
Nov 29, 2019 | $0.031 | DailyAccrualFund |
Oct 31, 2019 | $0.031 | DailyAccrualFund |
Sep 30, 2019 | $0.026 | DailyAccrualFund |
Aug 30, 2019 | $0.031 | DailyAccrualFund |
Jul 31, 2019 | $0.029 | DailyAccrualFund |
May 31, 2019 | $0.033 | DailyAccrualFund |
Apr 30, 2019 | $0.031 | DailyAccrualFund |
Mar 29, 2019 | $0.030 | DailyAccrualFund |
Feb 28, 2019 | $0.027 | DailyAccrualFund |
Jan 31, 2019 | $0.027 | DailyAccrualFund |
Dec 31, 2018 | $0.027 | DailyAccrualFund |
Nov 30, 2018 | $0.028 | DailyAccrualFund |
Oct 31, 2018 | $0.028 | DailyAccrualFund |
Aug 31, 2018 | $0.031 | DailyAccrualFund |
Jul 31, 2018 | $0.027 | DailyAccrualFund |
Jun 29, 2018 | $0.027 | DailyAccrualFund |
May 31, 2018 | $0.027 | DailyAccrualFund |
Apr 30, 2018 | $0.025 | DailyAccrualFund |
Mar 29, 2018 | $0.027 | DailyAccrualFund |
Feb 28, 2018 | $0.028 | DailyAccrualFund |
Jan 31, 2018 | $0.026 | DailyAccrualFund |
Dec 29, 2017 | $0.028 | DailyAccrualFund |
Nov 30, 2017 | $0.027 | DailyAccrualFund |
Oct 31, 2017 | $0.026 | DailyAccrualFund |
Sep 29, 2017 | $0.028 | DailyAccrualFund |
Aug 31, 2017 | $0.027 | DailyAccrualFund |
Jul 31, 2017 | $0.026 | DailyAccrualFund |
Jun 30, 2017 | $0.029 | DailyAccrualFund |
May 31, 2017 | $0.027 | DailyAccrualFund |
Apr 28, 2017 | $0.025 | DailyAccrualFund |
Mar 31, 2017 | $0.029 | DailyAccrualFund |
Feb 28, 2017 | $0.026 | DailyAccrualFund |
Jan 31, 2017 | $0.024 | DailyAccrualFund |
Dec 30, 2016 | $0.028 | DailyAccrualFund |
Nov 30, 2016 | $0.026 | DailyAccrualFund |
Oct 31, 2016 | $0.024 | DailyAccrualFund |
Sep 30, 2016 | $0.027 | DailyAccrualFund |
Aug 31, 2016 | $0.025 | DailyAccrualFund |
Jul 29, 2016 | $0.025 | DailyAccrualFund |
Jun 30, 2016 | $0.026 | DailyAccrualFund |
May 31, 2016 | $0.026 | DailyAccrualFund |
Apr 29, 2016 | $0.027 | DailyAccrualFund |
Mar 31, 2016 | $0.027 | DailyAccrualFund |
Feb 29, 2016 | $0.027 | DailyAccrualFund |
Jan 29, 2016 | $0.025 | DailyAccrualFund |
Dec 31, 2015 | $0.016 | DailyAccrualFund |
TICCX - Fund Manager Analysis
Managers
Lauren Wagandt
Start Date
Tenure
Tenure Rank
Jan 31, 2018
4.33
4.3%
Lauren T. Wagandt, CFA. Lauren Wagandt is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc., and a portfolio manager in the Fixed Income Division. She is an executive vice president and cochair of the Investment Advisory Committee of the Corporate Income Fund and has portfolio management responsibilities. Before assuming her current role, Lauren was an assistant portfolio manager and corporate credit analyst for the Fixed Income Division. Prior to joining T. Rowe Price in 2009, she was a product specialist at BlueCrest Capital Management, a hedge fund in New York and London, serving in a marketing and client services role. Lauren also worked as a high-grade credit research analyst at Credit Suisse in New York. She earned a B.A. in economics from Cornell University. Lauren also has earned the Chartered Financial Analyst designation.
Steven Boothe
Start Date
Tenure
Tenure Rank
Jan 31, 2018
4.33
4.3%
Steve Boothe is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. He is a is a portfolio manager in the Fixed Income Division. Steve is an executive vice president of the T. Rowe Price Corporate Income Fund, and has lead portfolio management responsibilities for the Global Investment Grade Corporate Bond Strategy. He is a member of the Global Multi-Sector and U.S. Taxable Bond teams, focusing on global investment-grade corporate bond portfolios. Steve joined the firm in 1999 and has worked as a credit research analyst and as a portfolio manager/analyst prior to assuming his current role in 2014. He earned a B.A. in economics/mathematics from Columbia University. Steve also has earned the Chartered Financial Analyst designation and is a Series 7 and 63 registered representative.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.33 | 24.76 | 6.74 | 2.47 |