T. Rowe Price Institutional Long Duration Credit Fund (RPLCX)

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The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Institutional Long Duration Credit Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) has returned -2.19% so far this year and 2.64% over the past 12 months. Over the last ten years, RPLCX has returned 2.24% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 2, 2014, RPLCX's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, your investment would double in approximately 17.5 years.

Historically, 61% of months were positive and 39% were negative. The best month was Nov 2023 with a return of +10.2%, while the worst month was Apr 2022 at -9.4%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.

On a daily basis, RPLCX closed higher 49% of trading days. The best single day was Nov 10, 2022 with a return of +3.3%, while the worst single day was Mar 19, 2020 at -7.6%.

T. Rowe Price Institutional Long Duration Credit Fund has an annualized alpha of 4.20%, beta of -0.02, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 03, 2014.

• This fund participated in 44.64% of S&P 500 Index downside but only 32.38% of its upside — more exposed to losses than it benefited from rallies.
• Beta of -0.02 may look defensive, but with R² of 0.00 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.00 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

RPLCX has an expense ratio of 0.45%, placing it in the medium range.

RPLCX ranks 16 for risk / return — in the bottom 16% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) and compare them to a chosen benchmark (S&P 500 Index).

T. Rowe Price Institutional Long Duration Credit Fund provided a 5.00% dividend yield over the last twelve months, with an annual payout of $0.37 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for T. Rowe Price Institutional Long Duration Credit Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the T. Rowe Price Institutional Long Duration Credit 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 Institutional Long Duration Credit Fund was 35.21%, occurring on Oct 24, 2022. The portfolio has not yet recovered.

The current T. Rowe Price Institutional Long Duration Credit Fund drawdown is 19.31%.

The chart below shows the rolling one-month volatility.