TRAZX: T. Rowe Price Institutional Floating Rate Fund - MutualFunds.com
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T. Rowe Price Instl Floating Rate Z

TRAZX - Snapshot

Vitals

  • YTD Return 0.8%
  • 3 Yr Annualized Return 4.3%
  • 5 Yr Annualized Return 4.4%
  • Net Assets $4.73 B
  • Holdings in Top 10 25.3%

52 WEEK LOW AND HIGH

$9.78
$9.28
$9.79

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.57%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 72.60%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Compare TRAZX to Popular Bank Loan Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$9.45

0.00%

$8.45 B

3.25%

$0.31

2.05%

0.73%

$10.56

0.00%

$6.88 B

4.11%

$0.43

1.34%

1.35%

$22.17

-0.14%

$6.72 B

3.20%

$0.71

-0.67%

0.65%

$8.81

0.00%

$6.69 B

3.38%

$0.30

1.03%

0.82%

$8.44

0.00%

$6.30 B

4.11%

$0.35

1.69%

0.60%

TRAZX - Profile

Distributions

  • YTD Total Return 0.8%
  • 3 Yr Annualized Total Return 4.3%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.21%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    T. Rowe Price Institutional Floating Rate Fund
  • Fund Family Name
    T. Rowe Price
  • Inception Date
    Mar 10, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Paul Massaro

Fund Description

The fund invests at least 80% of its net assets (including any borrowings for investment purposes) in floating rate loans and floating rate debt securities. Floating rate loans represent amounts borrowed by companies or other entities from banks and other lenders. It may invest up to 20% of its net assets in fixed rate debt instruments. The fund may also invest up to 20% of its total assets in non-U.S. dollar-denominated loans and debt instruments (including instruments of issuers in emerging markets) in keeping with the fund's investment objective.


TRAZX - Performance

Return Ranking - Trailing

Period TRAZX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -1.3% 9.6% 81.36%
1 Yr 10.0% 2.8% 68.9% 71.14%
3 Yr 4.3%* -1.1% 5.9% 12.06%
5 Yr 4.4%* 1.4% 8.5% 29.66%
10 Yr 4.2%* 1.7% 6.4% 22.22%

* Annualized

Return Ranking - Calendar

Period TRAZX Return Category Return Low Category Return High Rank in Category (%)
2020 N/A -16.5% 289.8% N/A
2019 N/A -8.1% 7.5% N/A
2018 N/A -12.2% 5.5% N/A
2017 N/A -4.2% 3.7% N/A
2016 N/A -65.0% 12.9% N/A

Total Return Ranking - Trailing

Period TRAZX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -1.3% 9.6% 81.36%
1 Yr 10.0% 1.1% 68.9% 60.40%
3 Yr 4.3%* -1.4% 5.9% 10.28%
5 Yr 4.4%* 1.4% 8.5% 27.76%
10 Yr 4.2%* 1.7% 6.4% 20.56%

* Annualized

Total Return Ranking - Calendar

Period TRAZX Return Category Return Low Category Return High Rank in Category (%)
2020 N/A -16.5% 289.8% N/A
2019 N/A -8.1% 7.5% N/A
2018 N/A -12.2% 5.5% N/A
2017 N/A -4.2% 7.2% N/A
2016 N/A -65.0% 12.9% N/A

NAV & Total Return History


TRAZX - Holdings

Concentration Analysis

TRAZX Category Low Category High TRAZX % Rank
Net Assets 4.73 B 10 M 8.45 B 11.07%
Number of Holdings 414 13 1358 40.27%
Net Assets in Top 10 1.05 B -171 M 1.75 B 3.69%
Weighting of Top 10 25.26% 5.4% 94.7% 12.12%

Top 10 Holdings

  1. T. Rowe Price Gov. Reserve 14.48%
  2. Asurion 2.23%
  3. UFC Holdings 1.65%
  4. UKG 1.62%
  5. Ultimate Software 1.56%
  6. HUB International 1.53%
  7. UFC Holdings 1.40%
  8. HUB International 1.38%
  9. Mileage Plus Holdings 1.31%
  10. UKG 1.27%

Asset Allocation

Weighting Return Low Return High TRAZX % Rank
Bonds
94.38% 30.80% 162.02% 45.30%
Cash
4.66% -62.14% 55.70% 59.06%
Preferred Stocks
0.78% 0.00% 24.21% 4.70%
Stocks
0.18% 0.00% 7.86% 58.05%
Other
0.00% -54.12% 18.00% 84.23%
Convertible Bonds
0.00% 0.00% 3.77% 88.93%

Stock Sector Breakdown

Weighting Return Low Return High TRAZX % Rank
Utilities
100.00% 0.00% 100.00% 1.36%
Technology
0.00% 0.00% 100.00% 80.91%
Real Estate
0.00% 0.00% 30.29% 76.82%
Industrials
0.00% 0.00% 100.00% 86.82%
Healthcare
0.00% 0.00% 100.00% 78.18%
Financial Services
0.00% 0.00% 100.00% 79.55%
Energy
0.00% 0.00% 100.00% 92.27%
Communication Services
0.00% 0.00% 100.00% 92.73%
Consumer Defense
0.00% 0.00% 9.01% 78.64%
Consumer Cyclical
0.00% 0.00% 100.00% 89.09%
Basic Materials
0.00% 0.00% 26.58% 78.64%

Stock Geographic Breakdown

Weighting Return Low Return High TRAZX % Rank
US
0.18% -0.01% 8.06% 54.03%
Non US
0.00% -0.20% 2.76% 83.56%

Bond Sector Breakdown

Weighting Return Low Return High TRAZX % Rank
Corporate
86.41% 0.00% 100.00% 78.45%
Cash & Equivalents
13.52% 0.00% 58.10% 13.47%
Municipal
0.06% 0.00% 0.56% 8.08%
Government
0.02% 0.00% 1.74% 16.16%
Derivative
0.00% 0.00% 8.61% 74.75%
Securitized
0.00% 0.00% 100.00% 84.51%

Bond Geographic Breakdown

Weighting Return Low Return High TRAZX % Rank
US
87.06% 4.30% 128.54% 19.80%
Non US
7.32% 0.00% 111.50% 81.88%

TRAZX - Expenses

Operational Fees

TRAZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.57% 0.01% 27.10% 98.63%
Management Fee 0.55% 0.00% 2.40% 23.23%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.40% N/A

Sales Fees

TRAZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 3.00% N/A

Trading Fees

TRAZX 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.

TRAZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 72.60% 0.00% 412.00% 66.78%

TRAZX - Distributions

Dividend Yield Analysis

TRAZX Category Low Category High TRAZX % Rank
Dividend Yield 0.80% 0.00% 3.64% 7.31%

Dividend Distribution Analysis

TRAZX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Monthly Monthly Monthly

Net Income Ratio Analysis

TRAZX Category Low Category High TRAZX % Rank
Net Income Ratio 5.21% 1.29% 10.93% 12.97%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

TRAZX - Fund Manager Analysis

Managers

Paul Massaro


Start Date

Tenure

Tenure Rank

May 01, 2009

12.09

12.1%

Paul Massaro is a vice president of T. Rowe Price Group, Inc.; T. Rowe Price Associates, Inc.; and T. Rowe Price Trust Company. He is a portfolio manager for high yield strategies in the Fixed Income Division. Paul is executive vice president of the T. Rowe Price Institutional Income Funds, Inc.; and the T. Rowe Price Floating Rate Fund, Inc. He also is chairman of the Investment Advisory Committee and portfolio manager of the Floating Rate and Institutional Floating Rate Funds. Prior to joining T. Rowe Price in 2003, Paul worked in equity research at Banc of America Securities and at J.P. Morgan Chase, both in New York. He earned a B.S. in business management from Cornell University and an M.B.A. in finance and strategic management from The Wharton School, University of Pennsylvania. Paul also has earned the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 22.6 5.88 2.25