T. Rowe Price Institutional Long Duration Credit Fund (RPLCX)
The fund normally invests in a diversified portfolio of longer duration debt securities issued by corporations as well as certain non-corporate issuers. The fund manager focuses on corporate bonds, the non-corporate debt securities in which the fund may invest include securities issued by supranational organizations and U.S. and foreign governments and government agencies. Holdings will mainly consist of investment-grade debt securities, although the fund has the flexibility to purchase some non-investment-grade bonds (also called high yield or "junk" bonds).
Fund Info
| ISIN | US77958B6002 |
|---|---|
| Issuer | T. Rowe Price |
| Inception Date | Jun 2, 2013 |
| Category | Long-Term Bond |
| Min. Investment | $1,000,000 |
| Asset Class | Bond |
Expense Ratio
RPLCX features an expense ratio of 0.45%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Popular comparisons: RPLCX vs. TRBFX, RPLCX vs. RPIFX, RPLCX vs. TRBUX
Performance
Performance Chart
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.
Returns By Period
T. Rowe Price Institutional Long Duration Credit Fund had a return of 1.83% year-to-date (YTD) and 15.98% in the last 12 months. Over the past 10 years, T. Rowe Price Institutional Long Duration Credit Fund had an annualized return of 1.98%, while the S&P 500 had an annualized return of 11.43%, indicating that T. Rowe Price Institutional Long Duration Credit Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.83% | 25.82% |
| 1 month | -0.68% | 3.20% |
| 6 months | 6.45% | 14.94% |
| 1 year | 15.98% | 35.92% |
| 5 years (annualized) | -1.77% | 14.22% |
| 10 years (annualized) | 1.98% | 11.43% |
Monthly Returns
The table below presents the monthly returns of RPLCX, 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 | -0.96% | -2.26% | 1.64% | -4.73% | 2.97% | 0.69% | 3.26% | 2.16% | 2.43% | -4.16% | 1.83% | ||
| 2023 | 7.07% | -4.78% | 3.83% | 0.75% | -2.58% | 1.10% | -0.49% | -2.01% | -5.38% | -4.33% | 10.23% | 7.60% | 9.97% |
| 2022 | -4.84% | -3.15% | -3.23% | -9.43% | 0.13% | -4.30% | 4.42% | -3.98% | -8.56% | -2.44% | 8.46% | -1.62% | -26.13% |
| 2021 | -2.27% | -3.40% | -2.84% | 2.24% | 0.86% | 3.86% | 2.39% | -0.16% | -1.94% | 1.49% | 0.64% | -3.20% | -2.62% |
| 2020 | 4.79% | 2.46% | -9.01% | 7.09% | 1.07% | 2.95% | 5.83% | -2.99% | -0.14% | -1.17% | 5.07% | 4.35% | 20.98% |
| 2019 | 3.15% | 0.13% | 4.48% | 0.34% | 3.17% | 3.21% | 1.34% | 6.92% | -1.75% | 0.59% | 0.60% | -8.95% | 13.09% |
| 2018 | -1.65% | -3.20% | 0.73% | -1.93% | 0.32% | -0.57% | 0.93% | 0.47% | -0.90% | -2.88% | -0.44% | 2.58% | -6.49% |
| 2017 | 0.29% | 1.98% | -0.64% | 1.47% | 1.85% | 1.08% | 0.76% | 1.43% | -0.53% | 0.76% | 0.30% | 1.24% | 10.41% |
| 2016 | 0.92% | 1.25% | 4.06% | 2.07% | -0.08% | 3.96% | 2.89% | 0.01% | -1.05% | -2.20% | -4.86% | 1.02% | 7.89% |
| 2015 | 5.27% | -1.87% | 0.21% | -1.72% | -1.86% | -3.35% | 1.67% | -1.67% | 0.84% | 1.44% | -0.49% | -1.44% | -3.20% |
| 2014 | 3.86% | 2.09% | 0.55% | 2.27% | 2.62% | 0.44% | 0.05% | 3.24% | -2.89% | 1.82% | 1.18% | 0.44% | 16.65% |
| 2013 | -4.43% | 0.31% | -1.69% | 1.40% | 2.35% | -1.33% | -0.29% | -3.77% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of RPLCX is 10, indicating that it is in the bottom 10% 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 Institutional Long Duration Credit Fund (RPLCX) 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 Institutional Long Duration Credit Fund provided a 5.30% dividend yield over the last twelve months, with an annual payout of $0.41 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.41 | $0.39 | $0.37 | $0.39 | $1.22 | $0.43 | $0.40 | $0.38 | $0.39 | $0.40 | $0.41 | $0.18 |
Dividend yield | 5.30% | 4.91% | 4.78% | 3.58% | 10.64% | 4.11% | 4.10% | 3.52% | 3.79% | 4.12% | 3.91% | 1.96% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.00 | $0.34 | |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.39 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 2020 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.84 | $1.22 |
| 2019 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.40 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.40 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.41 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.18 |
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 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 36.46%, occurring on Oct 24, 2022. The portfolio has not yet recovered.
The current T. Rowe Price Institutional Long Duration Credit Fund drawdown is 21.38%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -36.46% | Dec 17, 2020 | 466 | Oct 24, 2022 | — | — | — |
| -21.56% | Mar 10, 2020 | 8 | Mar 19, 2020 | 77 | Jul 9, 2020 | 85 |
| -10.03% | Dec 18, 2017 | 239 | Nov 28, 2018 | 81 | Mar 28, 2019 | 320 |
| -9.64% | Feb 2, 2015 | 102 | Jun 26, 2015 | 215 | May 4, 2016 | 317 |
| -9.62% | Sep 5, 2019 | 77 | Dec 23, 2019 | 50 | Mar 6, 2020 | 127 |
Volatility
Volatility Chart
The current T. Rowe Price Institutional Long Duration Credit Fund volatility is 3.44%, 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.