T. Rowe Price New Income Fund (PRCIX)
The investment seeks to maximize total return through income and capital appreciation. The fund will invest at least 80% of its net assets in income-producing securities, which may include, but are not limited to, U.S. government and agency obligations, mortgage- and asset-backed securities (including commercial mortgage- backed securities), corporate bonds, foreign bonds, and Treasury inflation protected securities.
Fund Info
| ISIN | US7795701009 |
|---|---|
| CUSIP | 779570100 |
| Issuer | T. Rowe Price |
| Inception Date | Aug 31, 1973 |
| Category | Intermediate Core Bond |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
PRCIX features an expense ratio of 0.44%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Popular comparisons: PRCIX vs. PDBAX, PRCIX vs. FDFIX, PRCIX vs. WOBDX, PRCIX vs. LQD, PRCIX vs. VOO
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price New Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
T. Rowe Price New Income Fund had a return of 1.34% year-to-date (YTD) and 6.51% in the last 12 months. Over the past 10 years, T. Rowe Price New Income Fund had an annualized return of 0.91%, while the S&P 500 had an annualized return of 11.39%, indicating that T. Rowe Price New Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.34% | 25.48% |
| 1 month | -1.37% | 2.14% |
| 6 months | 2.42% | 12.76% |
| 1 year | 6.51% | 33.14% |
| 5 years (annualized) | -1.17% | 13.96% |
| 10 years (annualized) | 0.91% | 11.39% |
Monthly Returns
The table below presents the monthly returns of PRCIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.30% | -1.41% | 0.77% | -2.25% | 1.73% | 0.87% | 2.29% | 1.52% | 1.20% | -2.32% | 1.34% | ||
| 2023 | 3.25% | -2.26% | 2.19% | 0.53% | -1.37% | -0.52% | -0.18% | -0.66% | -2.31% | -1.73% | 4.20% | 3.81% | 4.73% |
| 2022 | -1.96% | -1.26% | -2.67% | -3.96% | 0.15% | -1.90% | 2.31% | -2.68% | -4.63% | -1.50% | 3.72% | -0.68% | -14.34% |
| 2021 | -0.36% | -1.29% | -0.99% | 0.77% | 0.34% | 0.75% | 1.15% | -0.09% | -0.79% | 0.02% | 0.22% | -1.31% | -1.59% |
| 2020 | 1.79% | 1.12% | -5.71% | 2.68% | 1.37% | 1.55% | 1.95% | -0.42% | -0.12% | -0.32% | 1.49% | -0.41% | 4.80% |
| 2019 | 1.23% | 0.01% | 2.00% | 0.15% | 1.79% | 1.18% | 0.25% | 2.45% | -0.60% | 0.34% | 0.03% | 0.13% | 9.27% |
| 2018 | -0.83% | -1.05% | 0.48% | -0.73% | 0.47% | -0.07% | 0.14% | 0.51% | -0.53% | -0.94% | 0.39% | 1.59% | -0.62% |
| 2017 | 0.31% | 0.75% | -0.07% | 0.74% | 0.75% | 0.13% | 0.42% | 0.85% | -0.40% | 0.12% | -0.08% | 0.44% | 4.02% |
| 2016 | 0.94% | 0.53% | 1.17% | 0.64% | 0.10% | 1.67% | 0.82% | -0.10% | 0.00% | -0.84% | -2.39% | 0.13% | 2.65% |
| 2015 | 2.07% | -0.63% | 0.29% | -0.21% | -0.40% | -1.15% | 0.76% | -0.52% | 0.54% | 0.22% | -0.22% | -0.51% | 0.20% |
| 2014 | 1.42% | 0.66% | 0.03% | 0.77% | 1.18% | 0.22% | -0.21% | 1.05% | -0.74% | 0.74% | 0.61% | -0.11% | 5.74% |
| 2013 | -0.50% | 0.52% | 0.01% | 1.14% | -1.81% | -2.26% | 0.22% | -0.83% | 0.99% | 0.99% | -0.40% | -1.04% | -2.99% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PRCIX is 16, indicating that it is in the bottom 16% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price New Income Fund (PRCIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
T. Rowe Price New Income Fund provided a 4.41% dividend yield over the last twelve months, with an annual payout of $0.35 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.35 | $0.31 | $0.20 | $0.15 | $0.24 | $0.28 | $0.28 | $0.25 | $0.24 | $0.24 | $0.25 | $0.26 |
Dividend yield | 4.41% | 3.82% | 2.45% | 1.59% | 2.41% | 2.87% | 3.04% | 2.66% | 2.56% | 2.56% | 2.60% | 2.78% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price New Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.29 | |
| 2023 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.28 |
| 2017 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2016 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2015 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2014 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2013 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price New Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price New Income Fund was 19.98%, occurring on Oct 24, 2022. The portfolio has not yet recovered.
The current T. Rowe Price New Income Fund drawdown is 11.04%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -19.98% | Sep 15, 2021 | 280 | Oct 24, 2022 | — | — | — |
| -9.93% | Mar 10, 2020 | 8 | Mar 19, 2020 | 92 | Jul 30, 2020 | 100 |
| -7.15% | Sep 10, 2008 | 37 | Oct 30, 2008 | 127 | May 5, 2009 | 164 |
| -6.55% | Mar 6, 1987 | 162 | Oct 19, 1987 | 53 | Dec 31, 1987 | 215 |
| -6.36% | Feb 1, 1994 | 70 | May 9, 1994 | 211 | Feb 28, 1995 | 281 |
Volatility
Volatility Chart
The current T. Rowe Price New Income Fund volatility is 1.71%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.